The Company

Our client is a 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 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.

• Established Regional Development company fully dedicated to acquiring and developing affordable housing throughout the state of California with a 30+ year history

• Industry-leading organization noted for award-winning development projects

• Strong sense of mission; ownership has a proven track record of investing in and giving back to the communities they serve

• Well-capitalized with an appetite for growth and expansion

 

The Opportunity

This will be a key hire in the Southern 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 opportunity to build the team.

 

Report directly to the Head of Development for the company and assume full responsibility for the successful completion of affordable real estate development projects; these responsibilities start from the initial site selection and acquisition through predevelopment and construction completion. This opportunity offers autonomy and abundant learning and growth opportunities.

 

Scope of Responsibility

• 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

• Lead the process of managing and maintaining contact with public and private lenders involved in the transaction to obtain construction and permanent financing

• Coordinate proforma analyses, develop budgets, and prepare financing applications including private and local government loans and/or grants and LIHTC

• Review and coordinate plans and specifications with asset management, community, and construction staff

• Review construction progress and approve requisitions for payment

• Responsible for managing new project development: coordinating financial packaging, securing acquisitions, and leading predevelopment, construction oversight, and permanent financing, supervising Architects, Consultants, Property Managers, Contractors, and other development team members as well as monitoring development, construction, and lease-up processes

• Collaborate and work closely with the Business Development team to identify acquisition opportunities, complete development programs, develop project acquisition and funding options, and complete the feasibility analyses of new development projects

• Partner and work with private and public lenders to secure project financing including 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 LIHTC projects

• Oversee, train, mentor and work closely with Project Managers, Assistant Project Managers, and Project Coordinators

 

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

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Required Education & Experience

• BA or BS required

• Master's degree preferred

• At least 5 years of experience in Affordable Housing Development, Finance, Urban Planning or a related field

• Proven track record of success working with public and private affordable housing funding resources and subsidy programs, including the LIHTC program, tax-exempt bonds, and the syndication process as well as the ability to creatively combine financing tools to leverage housing funds

• Strong entrepreneurial instincts and 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

• Proven ability to underwrite affordable housing projects of varying size

• In-depth understanding of HUD and Housing Finance Agency budget requirements

• Experience in completing and filing applications requesting LIHTC and a multitude of other soft fund resources

• Ability to rapidly and creatively solve problems

• Proficiency in Microsoft Office including Outlook, Word and Excel

• Attention to detail while managing several tasks in a timely manner

• Strong work ethic and willingness to dig into the details and “roll-up your sleeves”

• Display good moral judgment and ethical values

• Ownership of a valid California driver’s license and an insured vehicle with the ability to travel as needed

• Ability to work some evening and weekend hours, as needed

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OUR FIRM

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.

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If qualified, please contact:
Makayla Brening | Associate Executive
303.495.5624 | makaylab@kmcompanies.com