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Affordable Housing Development
Managing Director of Development

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The client has extensive experience developing and operating multifamily real estate. Their senior management team has decades of experience in real estate development and investing and core expertise in multifamily development, construction, property management, team building, and long-term value creation. Since its inception, our client has developed, constructed, acquired, and managed over 26K apartment homes, and has a successful track record of continuously managing over 4K affordable units. With an aggressive appetite for growth, this company is very well financed with access to capital and the capability to develop multiple deals simultaneously, while leveraging their growing vertically integrated multifamily development platform, and well-established organizational structure and culture at company headquarters. Our client has received multiple industry accolades for their product innovations in addition to creating several market-leading platforms. Their dedication to building a culture of diversity and inclusion, are some of the other characteristics that make this company an exceptional place to work. The client’s foundation includes a focus on housing affordability, proving they are mission and business-opportunity-driven. The Company management and the Board of Directors have deep political and business contacts throughout the Southeast.
This is a highly entrepreneurial opportunity for a well-experienced Affordable Housing Development professional to lead and build their own business unit along with financing and developing LIHTC apartment communities. The position will report directly to the CEO and COO with the autonomy to lead and grow the business in accordance with a shared vision. Participate in the upside of your own deals as you grow the development pipeline and leverage robust internal expertise and resources such as in-house construction, asset management, capital markets, and property management. Our client has created a hub & spoke entrepreneurial business model wherein they are providing the back-office infrastructure including HR, IT, in-house construction, accounting, legal, capital markets, compliance, and property management along with development and asset management. Supported by the resources of a top public company with access to capital and established credit lines, you can execute multiple deals simultaneously and contribute to growing the Affordable Housing development team into a national powerhouse.
Build and lead the development pipeline of Affordable Housing new construction and acquisition/rehab assets throughout the sunbelt in the United States. Leverage established networks while growing the presence of the company in high target markets and leading deal execution from sourcing, origination, acquisition, financing, and finally to development.
  • Lead and manage all aspects of sourcing and site diligence, land acquisition, design oversight, and coordination of financing for Affordable Housing and Low-Income Housing Tax Credit (LIHTC) new construction, ground-up development opportunities
  • Lead the financing of new developments with tax-exempt bonds, low-income housing tax credits, other low-interest subordinate loans, impact fee waivers, conventional mortgages, and construction loans, with support from senior executives
  • Identify and secure soft sources of financing, development incentives, and other resources to optimize development financing
  • Establish and maintain rapport with local governments and non-profits in active markets
  • Optimize all aspects of new development projects to maximize QAP scoring
  • Guide all third-party professionals and the internal construction/development team throughout the complete development process, including planning, entitlement (i.e., site plan approval, environmental/land use approvals, tentative & final maps, and density bonuses), design, and permitting including attorneys, architects, surveyors, planners, engineers, and interior designers.
  • Review and negotiate major contracts including Purchase and Sale Agreements, Ground Leases, JV Partnership MOUs, and Operating agreements, GC contracts, and Architect & Engineering proposals
  • Partner with the internal construction team to
    • Approve and finalize all construction documents and value engineer as needed
    • Evaluate GC contracts along with all subcontracts and any exclusions and allowances to ensure all construction costs are accounted for. Approve all pay applications and change orders
    • Coordinate weekly Owner, Architect, and Contractor (OAC) meetings and monthly draw meetings with lending representatives/inspectors. Review all documents that are submitted to lending institutions
  • Manage startup budget in coordination with property management; manage the transition from development and construction closeout to property and asset management teams
  • Develop project schedules, reporting, and cost management reporting and provide regular updates to senior executives
  • Take final accountability for the on-time and on-budget closing of the funded Affordable Housing development project pipeline.
  • Oversee the preparation, coordination, and review of new investment summaries and present to the investment committee
  • Define and execute the growth strategy for the Affordable Housing development division while collaborating with executive management to optimize execution by leveraging internal resources
  • Execute measured and strategic decisions making to ensure the company and its principals are protected from risk to the greatest extent possible in the ordinary course of business
  • Work in conjunction with the executive management team to establish and improve the department’s operations with the refinement and implementation of effective systems and processes
  • A successful track record acquiring sites and completing the ground-up development, construction, and stabilization processes utilizing Low Income Housing Tax Credits (LIHTC) financing (self-sufficiency leading a minimum of ~10+ deals); a visionary with proven leadership qualities and an entrepreneurial mindset
  • Up-to-date deal sheet demonstrating the ability to close Affordable Housing transactions and see them to stabilization within the portfolio
  • Strong Financial acumen managing complex capital stacks, hard and soft funding, tax-exempt bonds, and private funding
  • Demonstrated expertise in acquisitions, capital, and transactional structuring, development, construction, operations, dispositions, and financing,
  • Experience managing multiple individuals and teams in a fast-paced and evolving environment
  • Strong communication and presentation skills and ability to communicate with employees at all levels of the company, particularly executive-level management
  • Ability to implement and employ long-term growth strategies
KM Partners is the only Executive Search & Professional Recruitment firm fully dedicated to Multifamily Affordable, Senior, and Workforce Housing, as well as Tax Credit Syndication and other Structured Finance throughout the US. We have established an unrivaled track record of repeat business and success recruiting in these dedicated practice areas, including 260+ placements across the US. We have placed over 30%+ of the teams for several companies, both in Multifamily, Affordable Housing Development, and LIHTC as well as other tax credit Syndication, that went on to grow to the top 5 nationally ranked industry leaders in their respective business lines.

If qualified, please contact:
Butch Edlinger | Managing Director
303.515.7101 |

Job # 189

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