Affordable Housing Development

Vice President of Development & Equity Partner,

Affordable Housing

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Location: Remote
Our Client

Highly entrepreneurial opportunity to join the team as VP of Development for a fast-moving and well-capitalized Affordable Housing company led by successful, tenured principals from top Affordable Housing developers. This position offers a seat at the table to collaborate with well-established, ambitious rising stars who have track records for high performance, deal execution, and rapid growth to scale. Lead and own all aspects of your own projects while helping to provide hands on guidance to grow new team members through an internal mentorship-style training and development program. Qualified candidates will have proven track records successfully sourcing, originating, acquiring, financing, and developing their own projects from start to finish.

 

The right professional for this opportunity will embody the qualities and characteristics essential to upholding the strategic vision of the company. The principals see mutually aligned core values and culture as key ingredients to optimizing the entire team’s success.

 

Personal Characteristics
  • Strong dedication to developing the culture of the company with a commitment to transparency and alignment with senior leadership’s strategic vision

  • Promoting an open-door policy and free flow of communication to collaboratively solve the biggest challenges is necessary to thrive on this team

  • Hands-on, detail-oriented professional willing to dive in to diligently manage project details at any level to ensure quality control throughout growth who appreciates the opportunity to help develop company best practices

  • Self-starter capable of succeeding with less-structure in a start-up environment; enthusiasm for the process including overcoming all challenges and adversity along the way

  • Strong ownership mentality and ability to oversee and inspire internal partners to deliver optimal results

 

Roles & Responsibilities
  • Lead and manage all aspects of sourcing and site diligence, including preparation or review of investment and deal summaries for investment committee review

  • Lead land acquisition, design oversight and coordination of financing: Low Income Housing Tax Credits (LIHTC), tax-exempt bonds, other low-interest subordinate loans, impact fee waivers, conventional mortgages, and construction loans, with support from senior executives

  • Manage all third-party professionals throughout 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. Final review and approval of all design related submissions as well as invoicing to assure project stays within budget.

  • Develop project schedules, reporting and cost management reporting and provide regular updates to senior executives. Manage and report against established predevelopment and development budgets

  • Partner with internal construction team to

  1. Approve and finalize all construction documents and value engineer as needed

  2. 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.

  3. 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

 

The Ideal Candidate
  • A highly successful track record acquiring Low Income Housing Tax Credits (LIHTC) and Affordable Housing investments (self-sufficiency leading a minimum of ~ten+ deals); a visionary with proven leadership qualities and an entrepreneurial mindset

  • 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, financing,

  • Ability to think independently and be self-sufficient in multiple aspects of the position

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

  • 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:
Morgan McCormick | Senior Director, National Executive Search & Professional Recruitment
303-495-3156 | morganm@kmcompanies.com

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