Summary: This role leads a small dedicated team that oversees all aspects of affordable real estate development: site acquisition, land use, and zoning analysis; financial feasibility, packaging, grant writing, and closing; construction administration; and permanent conversation and transfer to operations. Extensive experience with affordable and/or supportive housing development including usage of low income housing tax credits (LIHTC), tax exempt bonds, state/federal capital programs, and mixed-financed deals is essential.
Primary responsibilities include but are not limited to:
- Obtain capital from a variety of public and private sources including municipal, state, federal, and tax credit opportunities, often through competitive RFP processes, for the development of affordable and supportive housing, including new construction and rehab.
- Locate and secure viable development sites, often through option agreement or joint venture.
- Complete financial analysis of all prospective projects to determine funding strategy, and highest and best use.
- Develop re-capitalizing and re-structuring strategies for existing assets.
- Prepare proformas and other projections to create financially viable construction and permanent operating budgets.
- Supervise team of Real Estate Development Project Managers.
- Supervise and work collaboratively with a team of consultants including lenders, attorneys, architects, engineers, contractors, and others.
- Work with local and regional elected officials and boards to advise strategy.
- Manage and lead the entirety of the real estate development process including financing, closing, construction administration, and placement into service.
- Work collaboratively with Westhab’s Housing, Services, and Finance Divisions to gain input on real estate development strategy and create projects that reflect the community needs, organization’s expertise, and organization’s risk tolerance.
- Participate in organizational strategic planning and other executive management processes.
- Other duties as assigned by the President/CEO
Extensive experience (10 years+ preferred) in the affordable real estate development field including a demonstrated track record of leading all aspects of the real estate development process. BA required; Advanced degree preferred. Expert level written and verbal communication skills that reflect ability to lead staff, perform and prioritize multiple tasks seamlessly with excellent attention to detail, and build relationships with a wide variety of stakeholders. Passion for Westhab’s mission of producing top-quality affordable and supportive housing essential.
Westhab is the premier organization of our kind in our region, providing housing and supportive services for more than 10,000 of the most vulnerable members of our community each year. We are staffed by an extraordinary group of hard working professionals that are fully committed to our mission – Building Communities. Changing Lives. Working at Westhab is not easy. Our expectations for all staff are high. We believe that the people and the communities that we have the privilege to serve deserve our very best every day. We are results-driven organization that focuses on empowerment and impact. If you want to apply for this opportunity, it should only be because you feel ready for the challenges and expectations that come with joining this kind of team. (EOE)