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Vice President of Real Estate Development

Salary
Competitive
Employment
Full Time
Work Place
Part Remote
Real Estate Field
Location
Washington
 DC
Postal Code
20002
Country
United States

This job is no longer active.

Description


About the Organization:   Preservation of Affordable Housing (POAH) is a national nonprofit organization whose mission is to preserve, create and sustain affordable, healthy homes that support economic security, racial equity and access to opportunity for all. POAH owns and operates more than 12,000 affordable homes at more than 120 properties in 11 states and the District of Columbia.  POAH is based in Boston with offices in Chicago and Washington D.C.  POAH’s Chicago office is currently managing a strong pipeline of work in Chicago itself, but also has a pending pipeline in Ohio that will be staffed from the Chicago office.

 

POAH’s reach is national in scope, and its pursuit of the preservation mission is empowered by a focus on the business bottom line.  Its strong reputation is the result of a demonstrated ability to craft complex financial transactions, tackle tough multi-family projects, and close deals that preserve the affordability of at-risk properties.  The organization and its leaders are at the forefront of policy and legislative discussions around housing preservation, affordable housing finance and regulatory reform, including energy efficiency in the multifamily sector.

 

The POAH team is dedicated, creative and passionate.  We believe a diverse and inclusive team is a stronger, smarter team, and we actively promote diversity and meaningful inclusion of different perspectives among our board, our staff, our partners, in our procurement of good and services, and at our communities.  We understand that addressing structural racism and achieving racial equity are central to the work we do and we proactively integrate the issue of race in our housing work.

 

About the Opportunity:  POAH is seeking a Mid-Atlantic-based Vice President of Real Estate Development to join its Real Estate Development group. This position offers the opportunity to join a growing, innovative company and to have responsibility for complex projects, many of considerable scale. The position reports to the Managing Director of Real Estate and will be located in POAH’s Washington DC office.

 

Vice Presidents oversee developments simultaneously, participating in project ‘life’ from acquisition to completion of construction and lease-up, including financial analysis, design and construction, and transfer of the completed project to the property management function.  POAH is looking for someone with experience leading a major redevelopment, multifamily and mixed-finance developments.  This role will have broad responsibility across many facets of real estate development, including but not limited to developing, refining, and advancing a multi-phase plan; creating viable mixed income development programs and budgets; navigating HUD and local public housing authorities, as well as, local requirements & processes across multiple phases; coordinating multiple phases simultaneously; and coordinating with external partners on relocation.  This is an exciting role that will be supported by a team of professionals, but truly be the face of POAH’s work in the mid-Atlantic. 

 

Specifically, the position offers the opportunity to lead the transformation of Barry Farm, a large, complex redevelopment project in a District of Columbia neighborhood close to both the National Mall and the city’s downtown.

 

POAH has secured funding agreements with the City and Housing Authority and has been undertaking significant infrastructure improvements in the Barry Farm neighborhood in preparation for a Q4 2021/Q1 2022 ground-breaking on vertical construction.    The City has been advancing discussions for funding the balance of the infrastructure and the vertical construction over the next few years.  This development pipeline is anticipated to provide work flow for the next seven years. 

 

POAH has recently advanced neighborhood transformations of similar scope and complexity in Boston, Massachusetts and Chicago, Illinois.  In Boston, POAH is partnering with the Boston Housing Authority and a local non-profit to transform a 200-unit public housing project into a 580 unit mixed-income, mixed-use transit oriented development.  In Chicago, POAH was selected as recipient of a $31 million dollar Choice Neighborhood Grant to transform Grove Park Apartments and the surrounding Woodlawn neighborhood by preserving and creating over 1,000 units of housing while providing job training and economic development stimulus to a struggling community on the door step of the University of Chicago.  While the Choice grant in Chicago has been completed, POAH’s work in the Woodlawn neighborhood remains active. 

 

 

 

Experience & Knowledge

 

Education:      A BA or BS degree is required; emphasis on business, real estate, architecture, planning or finance is preferred.  A Masters degree in a relevant field is preferred.

 

Experience:     Candidates for this position should have a minimum of 10+ years of experience in the development of multi-family affordable housing, preferably with significant experience working with HUD on urban public housing transactions that have included multiple phases.  

 

Specific skills and experience:

 

  • Excellent project management skills, including the ability to handle the entire development process from site control through entitlement, design, construction, lease-up, and stabilization. The ideal candidate will have taken several projects through the entire development process.
  • Excellent skills building productive relationships with stakeholders and third party contractors.
  • At least seven years of extensive on-the-job experience in the development of complex new construction and repositioning/rehabilitation projects such as urban, transportation-oriented and mid/high-rise multi-family housing.
  • Understands typical GC/CM contract terms and have the ability to assist in major contract negotiations.
  • Familiar with construction means and methods.
  • Experience in conceptualizing, site planning, and programming multifamily developments.
  • Experience in all phases of the new construction development and substantial rehabilitation process.
  • Public and private real estate finance expertise. Able to create project proformas and articulate, both orally and in written form, the case for a specific project. Should have both an intuitive and a detailed sense of the dynamics, risks, and structured financing of each transaction. Proficiency in MS Office is required.
  • Experience managing diverse internal and external teams on complex development projects.
  • A strong knowledge of the market dynamics and real estate values in the Mid-Atlantic area is preferred, but not required.
  • Able to work with time-sensitive material and meet multiple deadlines.
  • Skilled with Microsoft Office Suite and Microsoft Project,

 

Personal Attributes

 

  • Self-starter and independent worker. Enjoys having accountability and responsibility. Experience working remotely from a main office is a strong plus.
  • Able to work collaboratively within a small team environment to maintain harmony in an established team. 
  • Able to manage multiple, complex projects simultaneously and contribute productively in a team environment.
  • Balances independence with communication within a large organization. This person must be able to handle the entire development process with minimal day to day supervision, although he/she will communicate quickly, openly, and fully on matters needing attention from the Managing Director and others in the company.
  • Demonstrates sound judgment; understands when to pursue opportunities and how to utilize resources.
  • Strong detail orientation and be ability to follow through on and manage all of the details of project execution.
  • Experience managing multiple projects successfully through constantly changing priorities.
  • Possesses the confidence to hold his/her own internally. Equally important, has the confidence to ask questions and get direction when required.
  • Possesses excellent people skills; has the ability to be aggressive, yet likeable, and knows how to create win-win relationships with colleagues and external parties. Strong overall interpersonal skills.
  • Has strong written and oral communication skills. Makes convincing public presentations, using PowerPoint and other tools. Able to communicate effectively with a wide variety of audiences.
  • Has high energy and demands it from others.
  • Team player with “can do” attitude and able to keep ego in check.
  • Professional in demeanor, actions, and attitude, toward colleagues and external audience members.
  • Ability to embrace and adhere to POAH’s mission, policies and procedures and operating standards.
  • Effective prioritization skills; extremely well organized in work style and process and flexible, with the ability to multi-task and prioritize conflicting deliverables or objectives.
  • Has a sense of humor.

 

Applicants must include cover letter and resume.

 

Salaries are competitive and commensurate with experience. Benefits include medical, dental, life and disability insurances and 401k retirement plan with company match.

 

Job Sector


 

Experience


10+ to 15 years


This job is no longer active.

Project Management Residential Washington Full Time DC Construction, Development, Property Management Construction Services Manager other