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Project Accountant

Full Time
  • Full Time
  • Maryland, United States [Telecommute]
  • Fairstead profile

Website Fairstead

Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $4 Billion of multifamily property across the country, and today owns a portfolio of 16,500 apartments in 18 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services.

Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:

  • Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
  • Developing and preserving high quality affordable housing in an innovative and sustainable fashion
  • Creating a positive social and environmental impact within the properties and communities it serves

Fairstead’s Core Values

  • Empathy
  • Innovation
  • Entrepreneurship
  • Determination
  • Integrity

Position Description

The Project Accountant is responsible for working within all stages of project management. Their primary role is to work closely with project managers to ensure that all budgeting, scheduling, and coordination processes run smoothly. They monitor the progress of a project to ensure that it is working within the confines of set deadlines and budget limitations and generate progress reports to Construction Managers.

Primary Responsibilities

  • Responsible for the processing, reviewing, tracking and general ledger posting of construction draws for projects
  • Job cost tracking, reconciliation of general ledger accounts and subsidiary ledgers, accounts payable, billing work in process and communication with management on project status
  • Prepare, assemble and maintain cash flow processes for assigned projects
  • Handle and process all aspects of construction payables, including coding, processing contract award work sheets and maintenance of the job cost chart of accounts
  • Process contractor payment applications
  • Submit draw requests to lenders after communicating with project managers, vendors and external parties
  • Monthly review of job cost activity ensuring consistent and proper coding.
  • Assist in the preparation and review of all vendor invoices
  • Assist in the development/enhancement of project reporting for senior management
  • Liaison with independent auditors and tax accountants for the timely completion of annual audited financial statements and tax returns

Requirements

  • Bachelor’s in Accounting, Finance, or related field.
  • Familiarity with construction and consultant contracts, change orders, cost and contract tracking logs, lender requirements, AIA billing, GAAP requirements and financial project closeout strongly preferred.
  • Must possess in-depth knowledge of all accounting processes involved in construction and development projects with a primary focus on budgeting, billing, payment, cost control, cost tracking, and cost forecasting, along with projections, accruals, and billing of fees.
  • Proficient in MRI, Yardi, Adobe, and Microsoft Office (with emphasis on Excel).

Benefits

Why Work at Fairstead?

Fairstead is a real estate owner/operator that has rapidly expanded since its inception in 2014 with three offices across the country and a portfolio that spans 18 states. Come to Fairstead for the opportunity to impact real change and drive decision making from the ground up. Join our team in this growth inspired role to accelerate your career in a fast-growing, energized organization.

Perks

  • Competitive salary, along with full benefits: 401(k) company matching, medical, dental, vision
  • Wellness programs to promote employee health and self-care
  • Generous holiday and vacation policy
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