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Affordable Housing 
Vice President of Development

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Location: Georgia

OUR CLIENT
Our client is a rapidly growing dynamic real estate company that acquires and develops multifamily affordable housing in the Southeastern United States, primarily through the use of LIHTC. Their founding principals have over 4 decades of experience and have developed 12,000+ units. Their partners include local and state governments, and non-profit organizations, as well as various lenders and investors to build new facilities or acquire and rehabilitate existing properties. 
  • Owner of the company has been in the business for 40+ years and is focused on succession planning and setting up his team for the future
  • Senior leadership team is passionate about mentorship and looking for someone with high integrity and trustworthiness
  • Presently more heavily focused on new construction projects – they have 4% and 9% deal experience
  • Current team of 2-3 have 8 deals under construction in 2022
  • Parent company has 5k units in their portfolio in the Northwest
  • Well capitalized and interested in growth and expansion

THE OPPORTUNITY
This will be a key hire in the Georgia 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 Georgia and surrounding Southwestern U.S. footprint as well as have an instrumental and hands-on role in building this team. 
Report directly to the President of the company and assume full responsibility for the successful completion of affordable (and possibly market-rate) real estate development projects. These responsibilities start with initial site identification and continue through construction and lease-up. The role will be expected to simultaneously assemble and manage an external team of financiers, architects, designers, engineers, and contractors. This Developer will simultaneously coordinate multiple projects in varying stages of development. The position demands strong financial skills, creative thinking, leadership, and effective communication

SCOPE OF RESPONSIBILITIES
  • Identification and evaluation of real estate development opportunities, both new construction and acquisition/rehabilitation
  • Identify and determine site suitability
  • Determine financial viability of projects, including the development of realistic project budgets and proforma financial forecasts
  • Create and maintain strong public/private partnerships
  • Deliver presentations before groups of financial partners, local communities, municipalities, etc.
  • Assemble proficient Development teams, including legal, architect, contractor, consultants, etc.
  • Responsible for site control documentation, loan agreements, equity documents, and partnership documents
  • Development and successful attainment of project schedules and meet project budgets
  • Coordination and oversight of construction and design teams
  • Scheduling and maintenance of development meetings
  • Management of internal team opinions and external partners
  • Coordination of closing with the central office
  • Demonstrate leadership abilities through successful management of growing Georgia presence
  • Development/management of future staff and regional growth plan
 
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 & EXPERIENCE
  • BA or BS required
  • At least 4 years of experience as a senior developer or equivalent position
  • 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, exercise strong judgment, prioritize demands and respond with composure to a fast-paced environment with high-energy leadership
  • Ability to underwrite affordable housing and market-rate multifamily projects of varying size
  • In-depth understanding of HUD and Housing Finance agency budget requirements
  • Experience in filing applications requesting Low Income Housing Tax Credits and a multitude of other soft fund resources
  • Ability to rapidly solve problems
  • Proficiency in Outlook, Microsoft Office including Word and Excel
  • Ability to travel by plane or automobile
  • Ability to work flexible hours to meet the deadlines

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, Historical, & Renewable), Multifamily, Affordable and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.

If qualified, please contact:
Morgan McCormick | Managing Director
303.515.3156 | morganm@kmcompanies.com
Job # 172