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Affordable Housing Owner-Operator & Development
Director of Development

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The Company
Our client is a rapidly growing award-winning real estate company that acquires and develops affordable housing across the state of California, primarily through the use of LIHTC. The company is very well rooted in the community, with local and state government, and with various partners. They have developed 10,000+ units and have a very full pipeline of projects that will keep them busy for the next 3-5 years. Their partners include local / state governments and non-profit organizations as well as various lenders and investors to build new facilities or acquire and rehabilitate existing properties.
  • Very established 30+ year Regional Development Group fully focused on Affordable Housing
  • Industry-leading organization noted for award-winning development projects across the state of California
  • Reporting directly to the Head of Development who will give you the anatomy to grow your role
  • Spearheaded development projects while overseeing and mentoring junior staff
  • Upward advancement opportunities
  • Strong sense of mission as the organization regularly gives back to the community
  • Well capitalized and interested in growth and expansion
The Opportunity
This will be a key hire in the Northern California market for our client, and they are looking for a driven Affordable Housing Developer with strong leadership qualities. This individual will play a vital role in the growth of the company’s growing footprint as well as have an instrumental and hands-on role in building this team.
Report directly to the Head of Development for the company and assume full responsibility for leading a development team through the successful completion of affordable real estate development projects. These responsibilities start from the initial site selection and acquisition through predevelopment and construction completion. The role will be expected to Spearhead, coordinate, and direct the activities of design development team members including architects, soil and civil engineers, attorneys, and financial investors crucial to the development process. Maintain contact with public and private lenders involved in the transaction to obtain construction and permanent financing. Coordinate pro-forma analysis, develop budgets, application preparation, private and local government loans or grants, and low-income housing tax credits. Review and coordinate plans and specifications with asset management, community, and construction staff. Review construction progress and approve requisitions for payment.
Scope of Responsibility
  • Manage, train, and mentor Project Managers, Assistant Project Managers, and Development support staff.
  • Manage new project development including coordinating financial packaging; securing acquisition, predevelopment, construction, and permanent financing; supervising architects, consultants, property managers, contractors, and other development team members; monitoring development, construction, and lease-up processes.
  • Work with Business Development to identify acquisition opportunities, complete development programs, develop project acquisition and funding options, and complete the feasibility analysis of new development projects.
  • Work with private and public lenders to secure project financing that includes: negotiating Exclusive Negotiation Agreement, Disposition and Development Agreements/Affordable Housing Agreements with public agencies, developing Requests for Proposals for private Debt and Equity investors, analyzing proposed term sheets/commitment letters, negotiating loan terms and Limited Partnership Agreements for the syndication of low-income housing tax credit projects.
Performance Metrics
- Agreement of site control documents, development agreements, and LOIs
- Achievement of closings within projected timelines
- Ensure 100% construction completion within budget
- Manage guarantor/company risk
- Successful completion of project entitlements
- Ability to lead and grow regional presence
- Professional company representation
Required Education and Experience
  • BA or BS required preferably in Urban Planning, Development, Finance, Architecture or Community Development
  • Master's degree preferred
  • At least 7+ years of experience in Affordable Housing Development, finance, urban planning or related
  • Previous work experience managing personal required
  • Strong entrepreneurial instincts
  • Strong analytical skills
  • Well-rounded real estate background
  • Strong interpersonal skills with the ability to clearly and effectively communicate
  • Demonstrated organizational skills, including the ability to set priorities in concert with the Development team yet able to work independently
  • Ability to work under pressure exercising strong judgment, prioritizing demands, and responding with composure to a fast-paced environment with high-energy leadership
  • Ability to underwrite affordable housing projects of varying size
  • In-depth understanding of HUD and Housing Finance Agency budget requirements
  • Experience in filing applications with Low-Income Housing Tax Credits and various other soft fund resources
  • Ability to rapidly solve problems
  • Proficiency in Outlook, Microsoft Office including Word and Excel
  • Attention to detail while managing several tasks timely
  • Strong work ethic and willingness to get into the details and “roll up your sleeves”
  • Displays good moral judgment and ethical values
  • Valid California driver’s license, an insured vehicle, and the ability to travel
  • Job includes some evening and weekend hours – as needed
KM Partners’ national Executive Search and Professional Recruitment practice areas focus on high-growth, impact-investment-oriented businesses across relevant industries, including Investment Management, Real Estate, Clean Energy, Sustainable Infrastructure, and related Business and Professional Services. With a core focus in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. At KM, we have established an unparalleled track record of repeat business and success recruiting in niche practice areas, including 140+ placements in Affordable Housing, which have led to 50+ promotions to date. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.
If qualified, please contact:
Butch Edlinger | Managing Director
303.515.7101 |
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