The Housing Development Corporation MidAtlantic (HDC MidAtlantic) seeks an experienced, mission aligned, inspirational, and knowledgeable affordable housing leader who can help the organization continue to grow and expand, while maintaining the organization’s strong financial position and commitment to providing high quality affordable housing and resident services at housing developments in Pennsylvania, Delaware and Maryland. The mission of HDC MidAtlantic is to build hope and opportunity by providing a safe and affordable place to call home.
Established in 1971, HDC MidAtlantic was founded by community members in Lancaster, PA who had a shared vision around the importance of providing affordable homes. From those roots, the organization has grown to be one of the largest providers of affordable housing in the region. Today, HDC MidAtlantic owns or manages more than 3,500 quality affordable rental homes in Pennsylvania, Delaware and Maryland. HDC MidAtlantic developments house working families, seniors, and persons with disabilities.
HDC MidAtlantic is a nonprofit organization with a for-profit, wholly-owned subsidiary named HDC Investments, Inc. HDC MidAtlantic is a limited or general partner in more than 50 properties. HDC MidAtlantic has experienced especially strong growth during the past three years. Net assets grew by more than $6 million between 2014 and 2015 and by more than $10 million between 2015 and 2016. HDC MidAtlantic has strong local, state and national partnerships, and became a chartered member of NeighborWorks America in June 2016. HDC MidAtlantic is also a member of the Housing Partnership Network, a network of 100 housing and community development organizations that are considered industry leaders.
HDC has a 154 person staff with 30 people in the Lancaster office and 124 people working at HDC properties. Senior leadership positions include: director of real estate development, director of property management, and chief financial officer. Strategic human resource support is outsourced to a regional consultant. The 2017 operating budget is $10M with more than 98% of revenue coming from earned income. The President and CEO reports to a 13-person Board.
Affordable Housing Development – HDC MidAtlantic has increased the size of the portfolio through the adaptive re-use of obsolete buildings, acquisition of existing housing portfolios, property rehabilitation, and new construction. The real estate development team approaches each project with the understanding that HDC MidAtlantic will maintain both ownership and management of many of the properties. With that in mind, decisions on design and products are made with attention to long-term maintenance and operational efficiency. HDC MidAtlantic has experience with multiple funding sources and deep relationships with financial institutions and state and local government agencies. Areas of strength include: expertise in the development of properties financed with the Low Income Housing Tax Credits and/or Multifamily Housing Bonds, and purchasing portfolios of properties from owners exiting the affordable housing arena.
Property Management – HDC MidAtlantic manages its own portfolio of properties, as well as providing third party management services. The property management team has a solid track record of delivering financial results and performance with dedicated staff involved in qualified resident selection, licensed professional on-site managers, and experienced maintenance staff.
HDC MidAtlantic has a combined portfolio occupancy rate of 98%. Third-party management services include: accounting, compliance, maintenance, inspections, resident screenings, and marketing. With these diverse service offerings, HDC MidAtlantic is able to provide superior service and management to clients and residents.
Resident Services – HDC MidAtlantic has a goal of providing resident services at all properties, even those that are not owned by HDC. Resident services help: strengthen the mental, physical, financial and emotional health of residents and communities; connect residents to resources; and put residents on the path toward self-sufficiency. Trained resident services coordinators serve as advocates for residents. Resident services focus on: employment and education, financial capability, health and wellness, social capital, and stable housing. Resident services coordinators also offer residents recreational and social activities to enhance residents’ relationships with management, their neighbors and their communities.
The new President and CEO will be a strong leader and manager who combines a passion for mission with a deep understanding of, and commitment to, affordable housing development and property management.
HDC’s next President and CEO will:
- be the external face of the organization, maintaining and building relationships within the HDC MidAtlantic footprint and at the national level;
- work with the Board and staff to develop a new strategic plan and performance measures that will guide the organization and insure that the right infrastructure is in place to support organizational growth;
- provide strategic management and fiscal leadership that supports current programs and services, and maintains or increases revenue;
- monitor changes in funding for affordable housing as well as changes in the housing markets within HDC MidAtlantic’s footprint and adjust HDC MidAtlantic’s business plan accordingly;
- determine ongoing funding sources for HDC’s lines of business, with a special focus on resident services;
- ensure that the organizational culture is one that is diverse, nurtures and develops talents, creates and supports a common mission, and is highly communicative; and
- assess existing partnerships and relationships, and cultivate and grow relationships with key external stakeholders.
Experience and Attributes
Candidates will bring a variety of experiences and attributes to HDC MidAtlantic, including:
- a demonstrated track record in affordable multifamily housing development at a similar or larger scale;
- strong management skills, including strategic decision-making, financial management, and staff management that focuses on leader development;
- strong fiscal management skills, and the ability to understand complex real estate transactions and organizational finances across multiple lines of business;
- the ability to create a strategic and cohesive vision across departments and properties;
- a proven track record of hiring, retaining and fostering high staff performance;
- a collaborative leadership and management style;
- a demonstrated ability to build and develop relationships with a variety of key stakeholders;
- an understanding of property management and compliance;
- the ability to partner and work with a nonprofit board;
- 10+ years’ experience working in a senior leadership role; and
- a Bachelor’s degree required (Master’s degree preferred).