Affordable Housing Development
Director of Affordable Housing Development

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https://www.linkedin.com/jobs/view/2356498309

 

Our Client

Our client, one of the largest owner-operators and developers of Affordable Housing nationwide, has engaged us in the search for an experienced Director of Affordable Housing Development to join their team on the West Coast. Since inception, our client has acquired a portfolio of more than 10,000 units nationwide and continues to pursue aggressive growth, with the support of private equity investors. Through an entrepreneurial and forward-thinking strategy, as well as advanced business acumen, and progressive, collaborative culture, this full-service real estate company works to provide Affordable housing for low-income families throughout the United States.

 

The Opportunity

This opportunity offers immediate exposure to the management team and reports directly to the SVP of Development, an energetic mid-career professional who has tenure building and leading teams through rapid, high-volume growth, while progressing in their career through increasing levels of responsibility. With aggressive appetites for acquisitions and growth, this company is very well financed with the capability to acquire multiple deals or portfolios simultaneously utilizing their growing platform, and well-established organizational structure and culture. Our client is looking for top-performing, industry-specific professionals interested in the opportunity to participate in the economics of deals based on their production value as well as ability to mentor and grow other team members as they accelerate their own progress in their career.

 

Essential Responsibilities:

  • Responsible for development activities including overseeing associates and analysts preparing proforma models, conducting due diligence, assisting with securing LIHTC equity investment, debt financing, grants and subsidies, coordinating design and construction deliverables, assisting with financial closings, overseeing the redevelopment of the acquired properties, including design, construction and relocation and operations during redevelopment

  • Work closely with Acquisitions, Underwriting, Asset Management, Construction and Property Management

  • Direct and review the preparation of financial analysis and models, oversee income and expense underwriting, solicit term sheets from LIHTC investors and lenders, and communicate with state agencies on the availability of Affordable Housing resources

  • Lead and support financial closings

  • Prepare predevelopment budgets for internal review and approval of predevelopment capital Prepare and review applications for 4% low-income housing tax credits and tax-exempt bonds

  • Oversee property rehabilitation activities, including oversight of relocation, tenant income qualification, and monthly financial draws

  • Coordinate with state agencies on successful allocation of LIHTC and tax-exempt bonds

  • Work with the in-house Construction team on the preparation of architectural plans and specs, construction budgets and contracts, and project schedules

  • Track the delivery of LIHTC against projections and oversee the preparation of cost certifications and 8609s

  • Travel as needed

 

The Ideal Candidate

  • Robust knowledge of affordable housing development financing

  • Ambitious, professional with a consistent track record for high-performance

  • The ability to lead a small team to successfully manage the life cycle of Affordable Housing deals effectively and efficiently

  • Successful track record and strong reputation within their desired market

  • Up-to-date deal sheet demonstrating the ability to close Affordable Housing transactions and see them to stabilization within the portfolio

  • Understands, creates, and cultivates strong relationships within the industry including sellers, government entities, and financial partners

  • Ability to implement and employ long-term growth strategies

If qualified, please contact:

Kelle Ketchum | Director, National Executive Search & Professional Recruitment

303.495.5624 | kellek@kmcompanies.com

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