Summary

Parity is seeking a part-time Real Estate Development Fellow to shadow the CEO, serve as a support in the company's real estate development activities, and help manage the administrative components necessary to remain compliant across Parity's growing portfolio of properties. The role is best suited for a student in real estate development, construction, business operations, and/or finance. Strong Microsoft Excel skills are a must. This role has an anticipated start date of May 2025, and applications will be accepted until the role is filled.

Reports To: CEO, Bree Jones

Works Closely With: Director of Construction, Director of Homebuyer Success

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About Parity

Parity innovatively breathes new life into blocks of dilapidated rowhomes in West Baltimore by leveraging social capital. We create upfront demand for homeownership opportunities in neighborhoods experiencing hyper-vacancy by creating pathways for social collectives to purchase homes together block by block as a means of community-building and wealth-building. Parity removes systemic barriers to neighborhood revitalization by using innovative methods to acquire and renovate decades-abandoned properties and sells the homes at attainable price points, which unlocks the supply-demand quandary that keeps neighborhoods depressed.

Parity leads with racial equity, intersectionality, and Development without Displacement at the core of our work to ensure that those who have been historically disinvested of wealth and agency are able to direct the outcomes of and benefit from reinvestment into their communities. Parity was born from the notion that we can rebuild historically redlined communities through the redistribution of power and ownership. We see our impact as broader than just the homes we sell – we are shifting ideology and practice of how Black neighborhoods are valued. Watch our TED Talk to learn more about us. http://go.ted.com/breejones

Role Activities

As the Real Estate Development Fellow, you will help build out and oversee the processes that make our real estate development and business operations more efficient and streamlined. You will assist in the underwriting and pre-development of new real estate development projects, and you will help manage the growing portfolio of Parity's 50+ properties. We expect you to have a strong background in Microsoft Excel, administration, data entry, and project management.

Parity will train the right candidate in all of the below real estate related activities.

1. Property Acquisition – Coordinate acquisition efforts across the Parity footprint including researching and contacting absentee owners
2. Pre-Development – Assist in the financial modeling of real estate development projects, and assist in applying for funding in the capital stack.
3. Document and Database Management – Ensure that Parity's portfolio of properties have all of their legal paper work and documentation filed and stored in the correct server folder structure. Manage the database tracking various data points related to Parity's portfolio of properties
4. Insurance – Coordinate with Parity's insurance broker on general liability and builders risk policies roll-ons and -offs
5. Compliance – Oversee property registration, and triage city citations, and other compliance requirements
6. Ground Rent Redemption – Oversee the redemption of any open ground rent policies
7. General Projects – Support the team as needed on ad-hoc property related projects

Requirements

• Project management, data entry, and administration experience
• Extremely detail oriented and excellent problem-solving skills
• Ability to juggle multiple pieces of data, moving targets, and complexity
• Experience with database management
• Strong and demonstrated written and verbal communication skills
• An independent self-starter who assumes full responsibility for his/her work