The Project Manager is responsible for overseeing the life cycle of a development, from its award of financing through construction completion, complementing the work by colleagues in the Real Estate Development Department who oversee projects’ conception, applications for financing, and zoning. The Project Manager is part of a group of project managers within the Real Estate Development Department who report to the Vice President of Real Estate Development and are assigned to individual projects.
Essential Duties and Responsibilities:
- Monitor and assure projects’ timely progress within their established budgets and schedules. Report on projects’ status regularly to the Vice President of Real Estate Development.
- Provide input on the selection of development teams’ members, including architect, engineers, general contractor and legal counsel, and manage teams through design, closing and construction.
- Regularly update developments’ financial models as projects move toward closing, including their development budget, pro forma and construction-period cash flow.
- Manage projects’ budgets, including hard and soft costs, from their financing award through cost certification.
- Solicit proposals for a project’s Low Income Housing Tax Credit (LIHTC) equity investment, construction loan and permanent loan, and negotiate commitment letters, in consultation with the Vice President of Real Estate Development.
- Negotiate a project’s legal documents, with Homeport’s outside legal counsel, including the Operating Agreement, Loan Agreement and related documents.
- Review draft sets of plans and collaborate with design teams on plan revisions in order to meet Homeport’s design standards, meet a project’s budget, and obtain a project’s building permit.
- Ensure projects’ design complies with their financing sources’ guidelines, particularly the Ohio Housing Finance Agency’s design guidelines. Oversee certification process for sustainable design (e.g. LEED or Enterprise Green Communities).
- Obtain cost estimates from a project’s general contractor and assist Homeport’s outside legal counsel in negotiating the construction contract.
- Set and implement, with the Real Estate Development Department’s Closing Manager, a project’s closing schedule, syncing the project’s financing with its design and construction. Assist the Closing Manager in obtaining due-diligence materials needed for closing checklists.
- Attend all owner’s job meetings during construction. Work with a project’s architect to resolve field issues. Review and negotiate change orders with the general contractor and architect. Manage the construction contingency budget for each assigned project.
- Work with Homeport’s Asset Management staff and third-party property manager to transition a project from construction to lease-up and stabilized occupancy.
- Manage the release of a project’s equity installments and holdbacks on subordinate financing, and the conversion of the construction loan to the permanent loan. Assist Homeport’s Closing Manager to provide documents needed to satisfy conditions for the release of funds.
- Assist Homeport’s Finance Department to prepare a project’s cost certification and forms 8609.
- Contribute to strong business relationships with public officials, external business partners, and project stakeholders.
- Remain current on design and construction standards, market conditions and sustainable design programs (e.g. LEED and Enterprise Green Communities).
- Remain current on the Ohio Housing Finance Agency’s Qualified Allocation Plan and other financing guidelines; the City of Columbus’ financing guidelines; and those of other project funders.
- Remain current on pressing issues with regards to LIHTC, tax-credit equity investments and their partnership agreements.
- Lead by example and model behaviors that are consistent with the company’s values.
Desired Minimum Qualifications:
- Bachelor’s degree in architecture, business, finance, construction management, or urban planning, or any equivalent combination of education and professional experience in real estate development.
- At least three years of experience in real estate development, with a preference for experience in affordable housing development. Professional experience in other facets of affordable housing development, not necessarily for a developer, will be considered.
Necessary Knowledge, Skills and Abilities
- Committed to affordable housing and equitable community development.
- Manage independently two to three projects in various stages of development, meeting frequent deadlines. Must be resourceful, thoughtful, considerate and flexible, and maintain the ability to react and respond quickly, with a focus on accuracy.
- Lead a multi-disciplinary development team and work collaboratively to solve complex issues.
- Communicate clearly and effectively with a wide range of internal colleagues, external business partners, government officials and community members. Must be able to synthesize project issues and make recommendations.
- Experienced with affordable housing finance, especially Low Income Housing Tax Credits and public sources of financing.
- Experienced in reviewing, comprehending, analyzing and interpreting complex documents, including construction contracts, architectural drawings and specifications, and equity and loan documents.
- Able to work independently and thrive in a team-oriented setting.
- Displays initiative and a strong sense of personal responsibility, attentive to detail.
- Effective organizational and time-management skills, including tracking short- and long-term project schedules.
Licensing and Certification
- Professional certification in architecture, project management, construction, and/or green design is a plus.