Supervisor: Director of Real Estate Development
Department: Real Estate Development
Status: FT, Exempt
Cabrillo Economic Development Corporation (CEDC) is a community development corporation serving Ventura, Santa Barbara and Los Angeles Counties. CEDC’s core program areas are: the development and construction of multi-family rental housing for very-low, low, and moderate income families; homeownership education, counseling, loan packaging and lending; property management; and community building and neighborhood revitalization.
An industry leader since 1981, CEDC has built 45 affordable housing developments totaling close to 1,700 ownership and rental units. It currently has an ownership interest in 1,121 rental units that it manages. CEDC has an annual operating budget of $5,800,000 and multiple projects in the early stages of development.
Major Job Responsibilities
The CEDC affordable housing division operations are based on the practice of community building principles. The Senior Project Manager in addition to being technically competent, must exhibit strong community facilitation skills. Managers must be able to engage neighborhood residents in cooperative dialogue as part of the process of determining appropriate affordable housing products. While acting as an advocate for “community,” the Senior Project Manager will have primary responsibility for the full range of development activities for selected housing and community development projects, including but not limited to managing new projects as well as the refinance and rehabilitation of existing portfolio on behalf of CEDC.
KNOWLEDGE, SKILLS AND ABILITIES:
Our successful Project Managers are knowledgeable in all aspects of affordable housing/real estate development, including the entitlement process and political positioning dynamics. Communication skills are essential in order to represent the project vision to completion while being sensitive to nay-sayers. The ability to multi-task several needs of each project while managing multiple projects and exercising a high degree of independence, motivation and accountability is crucial.
Specific duties and responsibilities include the following:
- Manage all phases of development including initial financial feasibility analysis, proformas, overseeing design development, securing all necessary financing, procuring and contracting with all third party consultants, overseeing construction efforts and timeline.
- Manage efficiently tasks necessary to obtain entitlements, including neighborhood design meetings, submission of entitlement applications, attendance at public hearings, and on-going coordination of the project design team.
- Manage all aspects of financing developments; identify funding sources and complete loan/funding applications; secure predevelopment, construction and permanent financing.
- Coordinate with asset management, property management and resident services during predevelopment and construction to ensure smooth tenant relations.
- Work cooperatively within a team setting to ensure the development and training of fellow staff, and provide day-to-day guidance to fellow Project Managers, as needed.
- Provide project schedules and oversee critical development timelines and milestones.
- Manage the construction process; select and negotiate contract with contractors; monitor construction team.
- Manage transition to operations; supervise property management; monitor tenant selection and lease up. Perform site inspections and due diligence, evaluating and highlighting opportunities and risks.
- Search, formulate and execute strategy for successful applications in response to Requests for Proposals (RFPs).
- Initiate and maintain ongoing cordial professional relationships with outside entities and various stakeholders in representation of CEDC as well as ability to present materials to the various groups.
- Engage in community outreach for proposed housing projects.
- Structure and negotiate real estate development transactions and affordable housing finance including public subsidies, low income housing tax credits and tax-exempted bonds; ability to creatively combine financing tools to leverage housing funds. Experience with acquisition/rehabilitation and portfolio rehabilitation preferred.
- A bachelor’s degree and a minimum of three years of experience in urban planning, business or real estate/housing development or finance, or a graduate degree in a related field and three years of experience in housing development, real estate development, urban planning, business, finance or a related field.
- Strong knowledge of key aspects of real estate development and finance, land use and entitlement, property due diligence and acquisition, and site planning and design. Experience with all phases of the development process preferred, preferably with at least one project taken from concept through completion.
- Familiarity with structuring and negotiating real estate development transactions and affordable housing finance including public subsidies, low income housing tax credits and tax exempted bonds; ability to creatively combine financing tools to leverage housing funds. Experience with acquisition/rehabilitation and portfolio rehabilitation preferred.
- Knowledge of and experience with loan packaging, public and private affordable housing resources, and subsidy programs;
- Ability to initiate and maintain effective and cooperative working relationships with team members, local government agencies, consultants, lenders/investors, and community stakeholders.
- Ability to effectively engage community representatives, including persons with diverse economic and educational backgrounds, in the real estate and community development process.
- Well-organized, detail oriented, and excellent analytical skills; proficiency in sophisticated financial analysis using Excel and with word processing software such as Microsoft Word.
- Strong analytical and problems solving skills; good client and public presentation skills; and excellent oral and written communication skills.
- An entrepreneurial and creative approach to problem solving in the field of real estate development; enthusiasm and team building spirit.
- Valid California driver’s license and availability of an insured vehicle to travel within CEDC’s service area, which includes Ventura, Santa Barbara and Los Angeles Counties.
CANDIDATE PREFERRED ATTRIBUTES, BUT NOT MANDATORY
- Experience with resident councils or limited equity housing cooperatives
- Graduate level coursework/degree. Certified Project Manager Professional (PMP)
- State of California Department of Real Estate Broker’s License
- Sensitivity to the needs and concerns of low-income individuals
- Appreciation/respect of and commitment to the goals of Cabrillo Economic Development Corporation
- Bilingual (English/Spanish) written and verbal.
CEDC is proud to be an equal opportunity employer.