DIRECTOR OF REAL ESTATE
Urban Edge seeks a Director of Real Estate with deep real estate development knowledge, who is mission driven and entrepreneurial.
Urban Edge is one of the largest not-for-profit community development corporations in Massachusetts. We are located where Boston’s Latin Quarter meets its historic African American neighborhood, at the crossroads of Jamaica Plain and Roxbury, in Jackson Square. We aim to foster diverse urban neighborhoods of choice populated by resilient families and sustained by dynamic webs of community relationships. To achieve this goal: we build quality affordable housing for low- and moderate-income households; we advise hardworking families on homeowner services, financial education, taxes, and student loans; and we organize neighbors to become leaders of community change.
Urban Edge has a 2023 annual operating budget of over $6.0 million, and we employ a staff of over 30. We have developed over 1,500 units of affordable housing and maintain a portfolio of over 1,400 units. Residents of our housing and our community are diverse and multilingual. In 2023, we anticipate serving more than 2,500 families.
OUR REAL ESTATE ACTIVITIES
Urban Edge has an active and varied pipeline that includes new construction and the substantial rehabilitation of residential and mixed-use development projects.
We are in construction on a 65-unit development in the heart of Jackson Square with 3,200 square feet of commercial and community space. The building will meet LEED Platinum certification and we are pursuing Passive House CORE Certification. We also have 269 units in different stages of rehabilitation with an emphasis on healthy homes and sustainability.
In the planning phase is the redevelopment of the Mildred Hailey Apartments, Phase I, a major public housing development in Jackson Square. We are working in partnership with two local affordable housing organizations and the Boston Housing Authority to develop 673 units of low- and moderate-income family housing and a new community center. We also have 300 units in the pipeline that are a mix of rehabilitation and new construction, including two affordable homeownership projects.
The Director of Real Estate at Urban Edge will lead and support a dedicated, passionate real estate team that includes an Associate Director of Real Estate and three to five project managers with a range of talents and experience. They will work closely with the good-humored senior management team and the Board of Directors in this fast-paced, demanding environment to achieve rewarding, high impact results.
OUR IDEAL CANDIDATE
Our ideal candidate will enthusiastically seek new development opportunities to meet Urban Edge’s standards for innovation and excellence. They will possess equal parts humor, patience and tenacity along with an abundance of common sense and good judgment. They will recognize our history and accomplishments. They will facilitate a team approach and have experience working in a diverse multi-cultural, mixed income community.
The selected candidate will be capable of managing multiple, complex real estate transactions. They will direct and oversee the work of the real estate team to promote high quality development projects completed on time and on budget. They will have excellent communications skills and the ability to identify and creatively solve problems.
DIRECTOR OF REAL ESTATE RESPONSIBILITIES
- Develop an active pipeline of projects that will achieve Urban Edge’s high-quality standards and objectives for revenue projections.
- Create and review complex financial models.
- Select and manage project teams to meet Urban Edge’s affirmative contracting and workforce goals.
- Lead the permitting process, financing applications submissions, and regulatory eligibility matters.
- Assist Real Estate staff to manage project budgets and schedules, close loans, and oversee construction and requisitions.
- Work with Asset Management staff to ensure property capital investments are promoting healthy housing for our residents and advance our goal of reducing our carbon footprint.
- Develop and implement strategies to coach, lead, and direct high performing staff from diverse backgrounds.
- Prepare budget projection reports to present to senior management team against revenue goals.
- Work with Resource Development team to identify and secure resources that support special projects and initiatives.
- Staff the Board’s Real Estate Committee. Identify and recruit new members as needed.
- Actively participate in senior management teams’ oversight of Urban Edge’s policies and procedures.
- Represent Urban Edge and manage relationships with lenders, investors, and external stakeholders.
- Complete other related duties and responsibilities as requested.
- Ten (10) years or more of real estate development or similar experience in a demanding environment.
- Three (3) years or more of experience supervising a small, yet diverse staff.
- A bachelor’s degree is required. An advance degree in real estate, construction, urban planning or business administration is preferred.
- Thorough knowledge of real estate finance, the development process, and sustainable development.
- Experience with community development financing tools such as the Low-Income Housing Tax Credit, HOME, CDBG and New Markets Tax Credit.
- Proven ability to generate new development opportunities.
- Outstanding interpersonal, negotiating, and listening skills that result in effective partnerships.
- Demonstrated ability to interact professionally with a culturally diverse staff, partners and clients.
- Excellent ability to be a resource and strategic partner to the real estate staff, senior management and the Board as they design and implement programs to meet the organization’s mission.
- Demonstrated ability to communicate effectively and with clarity to a variety of audiences both in writing and orally.
- High personal and professional standards and a reputation for honesty, integrity and excellence.
- Ability to respond to challenges calmly, quickly and with a clear solution focus.
This position requires availability for occasional evening meetings.
This position requires availability for occasional evening meetings.
SALARY AND BENEFITS
- Urban Edge’s salary range for this position is $150,000 to $180,000 depending on qualifications and experience.
- Benefits include but are not limited to automatic 4% employer contribution to 401k, 80% employer payment on health care premiums, and 15 paid vacation days.
- Hybrid work environment: employees may work from home up to 2 days per week, on a fixed schedule.
Urban Edge maintains comprehensive policies for employee safety and well-being related to the covid pandemic. Additional information on policies including vaccination is available on request. Urban Edge staff are currently working in the office under our hybrid schedule.
THE SELECTION PROCESS
Please submit a cover letter detailing your interest and your qualifications for this position, along with a resume, at https://annlsilverman.com/urban-edge-director-of-real-estate/. Applications will be reviewed and acknowledged as they are received.
We encourage all interested candidates to apply. Applicants who don’t have a particular skill or qualification are encouraged to identify how their personal and professional experiences will support their success in meeting the job responsibilities.
See www.urbanedge.org for more information about our organization.
All candidates must have legal authorization to work in the U.S.
Urban Edge is an Equal Opportunity and Affirmative Action Employer. We encourage applications from candidates from diverse backgrounds and cultures.