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A leading non-profit in the affordable housing development space.
Position Summary
Build productive relationships with partners and stakeholders in community engagement and neighborhood stabilization initiatives including mixed-use, mixed-tenure, mixed-income, and integrated permanent supportive housing. Lead and manage new business development opportunities with partners, or for consultative clients, in the acquisition, rehabilitation, and/or new construction of affordable housing and other related community real estate development. Identify opportunities that preserve the affordability of at-risk affordable rental properties through acquisition and/or repositioning, including unrestricted affordable rental housing. Participate in organizational strategic planning and risk management process.
This individual will report directly to the Senior Vice President, Real Estate Development
Essential Functions/Responsibilities
Pipeline Development & Management
- Build and maintain a pipeline for the development of affordable rental and ownership housing
- Identify properties for projected land acquisitions and assemble research market potential, and the overall securing of potential projects
- Create effective communication and input processes for division-wide participation in new sites for development
- Assess preliminary project feasibility and risk, using multiple financing models and funding sources
- Negotiate Letters of Intent (LOI) and all business terms of a Purchase and Sale agreement
- Create and maintain effective process for project transfer to Housing Development for development or Property Management for operation
Community Development
- Plan and lead major redevelopment, multifamily, and mixed-finance developments
- Develop, refine, and advance multi-phase plans; create viable mixed-income development programs and budget models including private and public funding sources.
- Craft complex financial transactions maximizing various financial tools and funding structures to achieve strategic objectives and advance multi-phase neighborhood-scaled plans; create viable mixed-income development programs and budgets
- Develop and maintain risk exposure and analysis reports
Partner Development
- Cultivate and manage local relationships in specific markets including municipal community development and planning staff, service providers, community development corporations, and housing authorities
- Negotiate and approve transaction terms with local jurisdictions, investors, lenders, joint ventures, and other potential partners
- Market affordable housing consulting services to client-partners seeking to execute development plans
Administrative
- Oversee the administration of the Housing Development unit
- Evaluate and provide timely feedback to staff on performance-related matters; assess staff members’ strengths and developmental needs; implement performance plans to ensure the development and/or maintenance of necessary skills to achieve organization and position-specific requirements
Supervisory Responsibilities
- Project Managers, Development Consultants, and administrative support positions
Hiring Requirements/Preferences
- Bachelor’s degree in a relevant field; commensurate experience may be substituted for a degree
- Seven years’ experience in the development of complex new construction, and repositioning/rehabilitation projects such as urban, transportation-oriented, and mid/high-rise multi-family housing
- Demonstrated project management skills, including the ability to handle the entire development process from site control through entitlement, design, construction (including familiarity with means and methods), lease-up, and stabilization; the ideal candidate will have taken several projects through the entire development process
- Expertise in public and private real estate finance with the ability to create project proformas and articulate, both orally and in written form, the case for a specific project
- Experience with major contract negotiations, and an understanding of typical general contractor/construction manager contract terms
- Knowledge of market dynamics and real estate values in the Western Massachusetts area is preferred, but not required
- Experience in a management/leadership role, with multiple reports (both internal and external) over simultaneous complex projects with potentially changing deadlines, and a demonstrable record of success
- Proficiency with Microsoft Office applications (including Project and PowerPoint), and comfort learning new technologies
- Advanced organizational skills with a high degree of accuracy and attention to detail, plus the ability to reprioritize to meet multiple deadlines in an often time-sensitive environment
- Excellent interpersonal and collaborative skills with the ability to serve diverse populations and work appropriately with confidential information
- Exceptional communication skills (both written and verbal) with a wide variety of audiences, including the ability to make compelling presentations in large-group settings
