AFFORDABLE HOUSING DEVELOPMENT PROJECT MANAGER
Note: This position is for a true “go getter”. A candidate that doesn’t watch the clock but pursues opportunities relentlessly and successfully. This position has uncapped potential for development opportunities and income. It’s not for everyone. You need to have a familiarity with the LIHTC applications and affordable housing and a knack for sourcing and working hard in an respectful and entrepreneurial environment.
A strong real estate development company with offices in Arizona and Michigan conducting development and providing consulting services throughout the United States. Our client provides professional expertise encompassing development, financing, Tax Credit implementation, planning, and coordinating the functions required in all aspects of Affordable Housing.
Our client has a first class reputation in all sectors of development and continues to seek out future opportunities nationwide.
The position is responsible for managing the sourcing of new opportunities, LIHTC application, LIHTC awards and development process for affordable housing new construction and rehabilitation projects financed with tax credits, including: acquisitions evaluation, arrangement of financing, municipal entitlements, neighborhood outreach, and oversight of the design and project consultants in collaboration with other members of the development and construction team.
The position is based in the Phoenix, Arizona but will focus on sourcing, application and development of projects in over 8 states. The position reports to the Vice President of Development, and will work in collaboration with the company Principals, and other development and construction team staff.
Responsibilities, by phase, include:
- Identify sites in municipalities with potential local funding programs
- Insure that sourced opportunity meets all requirements for local LIHTC.
- Get land under contact
- Submit tax credit applications and pursue awards of LIHTCs
- Participate and prepare response to RFP’s and RFQ’s
- Prepare and submit LOI’s and coordinate with brokers/owners
- Work with VP to enter purchase and sale agreements, after review and approval by senior management
- Prepare due diligence on properties under contract
- Develop the project program, initial project proformas, budgets, and schedule
- Obtain entitlements (State, City, Regional, Planning, Public Works, Building, Utility, etc.), including public presentations to neighborhood groups and public approval bodies
- Selection and management of consultant team, including negotiation of contracts in collaboration with internal construction and development team
- Work with senior management in the selection of non-profit partnerships for services, and property management
- Obtain and close financing for the project including identifying sources, submitting applications/RFPs and negotiating terms
- Identify proposed project funding partners and sources
- Obtain letters of interest and proposed terms from capital sources as required for support of acquisitions and funding proposals
- Work with preconstruction capital sources to secure preconstruction funds, including applications and due diligence
- Work with senior management driving the completion of partnership agreements, and construction loan agreements
- Manage existing relationships with project debt and equity sources, and identify new capital relationships and sources as required
- Management of financial reporting and coordination with internal accounting department to track monthly budgets and quarterly forecasts
Permits and Construction:
- Management of consultants and/or internal design-build process to achieve targeted project construction budgets, schedules, and quality standards
- Represent the company during the design-build and construction phase when lead by contractor, or in collaboration with development team
- Work with development team members on review and approval of consultant and construction change orders
- Develop a good working relationship with the construction manager on each project
- Direct value engineering efforts and implement design modifications where necessary in collaboration with contractor
- Work with development team to secure all required government permits and approvals
Marketing, Sales, Leasing, Closing:
- Oversight of marketing and leasing consultants
- Selection and negotiations of property management partners, and service providers, in collaboration with senior management
- Coordination of final financing audit and compliance packages
Desired Qualifications Include:
- Minimum of 3 years working with multifamily residential construction projects using tax credit and bond financing
- Public presentation skills
- Tracking and reporting budgets using excel
- Communicating well with design consultants and in-house general contractor
- Desire to work in a diverse, entrepreneurial company and environment where there is NO limit on your production.
Base salary target of 80K (maybe more based on experience) and 10-15% of developer fee. This position has potential to earn high bonus. Please call to learn more.