Stamford, CT
July 1, 2019 2019-08-30
Job Description


New Neighborhoods is a nonprofit affordable housing developer and manager.  Since 1967, we have been committed to improving the quality of life in our towns and cities with affordable housing that provides a safety net and springboard to economic self-sufficiency for families, veterans and retirees.


The Director of Real Estate Development directs the development of new and rehabilitated affordable housing units throughout Fairfield County Connecticut and surrounding areas.   

We are seeking an individual who can spearhead the acquisition, development and preservation of affordable housing in our region.  The ideal candidate is versed in financing real estate investments and has worked on deals with Low Income Housing Tax Credits (LIHTC), Section 8 vouchers, and/or HUD financing.  Past experience would likely come from time spent at a tax credit syndicator, affordable housing developer, investor, or consultant. 

This is an entrepreneurial role where you will be looking for new opportunities, modeling deals in Excel, and helping the firm close potential mergers and acquisitions.  The Director of Real Estate Development must have a proven track record and the financial experience and expertise to manage a new LIHTC development project from the application stage through the completion of the 8609.  

Job Responsibilities Include but are not Limited to the Following:  

  • Supervise the Development Department and Manage all Development and Asset Management activities.
  • Preparing pro-forma models, conducting due diligence, assisting with securing LIHTC equity investment, debt financing, grants and subsidies, coordinating design and construction deliverables, and assisting with financial closings.
  • Overseeing the redevelopment of acquired properties, including design, construction and relocation and operations during redevelopment, transitioning new acquisitions to the property management team once stabilized.
  • Prepare financial analysis and models, predevelopment budgets, income and expense underwriting, solicit term sheets from LIHTC investors and lenders, and communicate with state agencies on the availability of Affordable Housing resources.
  • Meet with appropriate local community representatives regarding the plans for a specific site and ensure that all required permits and other approvals are obtained for projects.
  • Handle the preparation of financing and grant applications.
  • Manage site acquisition, due diligence and negotiations.
  • Prepare and review applications for 9% low-income housing tax credits and 4% taxexempt bonds.
  • Oversee property rehabilitation activities, including oversight of relocation, tenant income qualification, and monthly financial draws.
  • Coordinate with state agencies on successful allocation of LIHTC and tax-exempt bonds.
  • Work with the contractors on the preparation of architectural plans and specs, construction budgets and contracts, and project schedules.
  • Work with attorneys, investors and funders and provide them the documents they need in order to receive funding commitment letters.
  • Supervise the development and administration of all steps in the development of new or rehabilitated housing units.
  • Track the delivery of LIHTC against projections and oversee the preparation of cost certifications and 8609’s.
  • Work with the appropriate NNI Board of Directors’ committees during the development process.    
  • Participate in other community planning and real estate development activities as may be determined by the President and CEO.
  • Work with the NNI management team to assure the effective implementation of other aspects of organizational operations necessary to meet the missions and strategic goals of the organization.
  • Complete other tasks, duties and/or special projects as may be assigned by the President and CEO.

Education, Experience, Skills and Other Requirements 

  • Bachelor’s Degree in Finance, Real Estate Development, Construction Management, Banking, Law, Engineering, Architecture and/or other related fields is required.
  • Master’s Degree in Finance, Accounting, Real Estate, Business or related field preferred.
  • A minimum of three years of direct experience in LIHTC housing and real estate development.
  • In-depth experience and knowledge of low income housing tax credit programs, HUD housing finance programs, state and federal funding sources and preparing funding applications.
  • Familiar with developing and evaluating financing strategies and alternatives in relationship to affordable housing projects.
  • Experience in overseeing new construction and rehabilitation projects, executing construction contracts, reviewing and approving requests for payment and preparing draw requests.
  • Experience with the LIHTC application process, CHFA, HUD and DOH affordable housing finance rules and regulations.
  • Ability to analyze and complete site and property acquisitions and coordinate property feasibility and due diligence studies.
  • Ability to coordinate project design and permitting activities.
  • Ability to evaluate project work scopes and design specifications.
  • Work with attorneys, investors and funders and provide them the documents they need in order to receive funding commitment letters.
  • Strong knowledge base pertaining to project controls, construction costs, alternate materials, methods, construction documentation and sequencing, value-engineering techniques and building/occupancy laws is necessary.
  • Ability to review and evaluate financing contracts, notes, deeds, and regulatory agreements and coordinate property closings.
  • Experience in developing and monitoring annual operating and capital improvement budgets.
  • Knowledge of local, state of Connecticut and national policies, issues and best practices regarding affordable housing finance and construction.
  • Strong analytical, verbal, written, negotiation, computational and interpersonal communication skills.
  • Competent technology skills, including proficiency with using Microsoft Office (Word, Excel, PowerPoint, Outlook), Microsoft Project and Adobe Acrobat.
  • Ability to work effectively with people of diverse personalities, cultures and communication styles.       
  • A valid driver’s license and ability to travel as needed.


  • Good oral, written and interpersonal communication skills.
  • Excellent computer skills, especially excel.
  • Working comprehension of development and operating budgets.
  • Good organizational and research skills.
  • Ability to problem-solve and continually prioritize tasks.

Compensation Package: 

Salary is commensurate with experience.  

Benefits packages: 

Vacation Pay, Personal Days, Holiday Pay, Sick Time, 401k, Health Care, Vision & Dental.

Reports To  

President and CEO 

Work Schedule  

Full-Time (40 hours per work week) 


To apply send resume and cover letter to: [email protected]