Position Summary
The Senior Project Accountant is responsible for the accounting and financial oversight of the Company's real estate development and construction projects. This role manages project-level budgets, prepares and coordinates construction draw requests with lenders, and ensures accurate recording of development and construction costs in Yardi Voyager. The Senior Project Accountant works closely with the development, construction, and asset management teams, as well as project lenders, to support the successful financial execution of the Company's development pipeline.
Key Responsibilities
Development & Construction Project Accounting
- Review and monitor all development and construction project costs in Yardi Voyager, ensuring proper coding by project, cost code, and budget line.
- Maintain and reconcile work-in-progress (WIP) schedules for all active development projects.
- Review and process contractor and consultant invoices, including verification against approved budgets, contracts, and holdback/retention requirements.
- Reconcile project cost data between Procore and Yardi Voyager, investigating and resolving discrepancies.
Lender Draws & Construction Loan Reporting
- Prepare and submit periodic construction draw requests to project lenders, including all required supporting schedules and backup documentation.
- Serve as the primary point of contact for lenders and construction loan monitors/consultants on draw-related inquiries.
- Track construction loan balances, interest reserves, and covenant compliance related to development financing.
- Coordinate with the Senior Vice President on loan draw approvals, funding timelines, and lender correspondence.
Construction & Development Contract Administration
- Maintain full awareness and a master log of all signed construction and development contracts, including amendments and change orders, across active projects.
- Ensure fully executed copies of all construction and development contracts and amendments are saved and organized in SharePoint on a timely basis.
- Set up and maintain construction and development contracts (commitments) in Yardi Voyager, including contract values, cost codes, and change orders.
- Ensure vendor invoices are properly matched and accounted for against the corresponding contract/commitment in Yardi, verifying coding, contract balances, and holdback/retention terms prior to processing.
- Prepare and distribute regular contract cost reports showing amounts billed to date, committed costs, retention held, and remaining contract balance by project and vendor.
Budgeting & Variance Analysis
- Maintain project budgets and prepare regular budget-to-actual variance analysis for each active development project.
- Partner with development and project managers to update budgets for change orders, scope changes, and cost overruns.
Other Responsibilities
- Support the Financial Controller with accounting for property acquisitions and dispositions, including reconciliation of closing statements and posting of the related journal entries.
- Support quarterly and annual financial reporting and external audit requests related to development projects and construction loans.
- Assist with documentation of, and adherence to, controls and procedures over project accounting and lender draw processes.
- Perform other duties as assigned.
Qualifications & Experience
- Bachelor's degree in Accounting, Finance, or a related field required; CPA designation an asset.
- Minimum 5 years of progressive accounting experience, with significant exposure to real estate development, construction, or project accounting.
- Working knowledge of construction loan administration and lender draw processes required.
- Experience with Yardi Voyager required; experience with Procore an asset.
- Strong Excel skills processing of large volumes of data for reconciliations, reporting and modeling.
- Excellent organizational skills with the ability to manage multiple projects and competing deadlines.
- Strong communication skills, with the ability to work directly with lenders, contractors, and internal stakeholders.
- • High degree of accuracy and attention to detail.eneficial.
