The Senior Development Manager ensures the long-term viability of residential developments by managing all aspects of development including assessing acquisition opportunities, structuring complex financing (LIHTC, Tax Exempt Bonds), hiring and managing consultants and overseeing projects through renovation or new construction. The Development Manager will report directly to Ownership.
Project Prospecting, Initiation, and Programming: Identify and research properties for potential acquisition and assist with site control. Ensure completion of necessary due diligence. Work with Senior Management to design initial program and financing strategy to creatively combine multiple financing resources that ensure long term project viability while being consistent with the development's goals.
Feasibility and Project Funding: Conduct, review and refine the analysis of overall economic feasibility. Identify funding opportunities; Consult with the applications department to prepare tax credit, bond and other applications and proposals, and all materials necessary to secure commitments.
Project Administration and Closing: Manage the development team including design and construction consultants. Negotiate contracts and coordinate team throughout the development process. Manage permitting and approval process with municipal officials, legal counsel and architects. Coordinate and lead community engagement processes. Negotiate consultant, lender and contractor agreements.
Project Construction, Monitoring & Closing: Closely monitor the construction process and push projects to finish on time and within budget. Work with project team to resolve financial and other issues that arise during this period. Assure compliance with tax credit, bond and other agreements. Assist accountants in preparing cost certifications. Provide asset management team with financial closing summary and work with asset management team in addressing any tax-related or post-closing financial or building performance concerns. Coordinate marketing and lease-up with property management to assist to ensure that occupancy and financial goals and restrictions are met.
- Bachelor’s degree in a related field.
- Minimum five years of direct experience with financing and project management of affordable housing development projects. Ability to identify and analyze opportunities, understand and design complex deal structures. Must understand regulatory/approval processes and property operations.
- Knowledge of public and private funding programs, including LIHTC and other affordable housing sources, is required.
- Strong interpersonal skills required.
- Strong writing and verbal communication skills.
- Critical thinking and negotiating skills.
- Ability to work as a leader and member of a team.
The candidate will have the option to work remotely if desired.
Highly competitive compensation and benefits.
- Community Development
- Project Management
5+ to 7 years
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