Associate Director of Real Estate Development

 

JOB DESCRIPTION

Associate Director of Real Estate Development

 

POSTING DATE:       March 14, 2019

REPORTS TO:         Director or Housing Development

HOURS:                 Full time, 40 hours per week

PAY RANGE:           DOE

BENEFITS:             Medical, dental, vision, life/disability, retirement, vacation & sick leave

 

The Low Income Housing Institute (LIHI) develops and manages affordable housing, expanding opportunities for people who are low-income and/or homeless, provides technical assistance to communities and other non-profits, and advocates for housing justice. LIHI owns over 2,200 apartments in six counties in the Puget Sound region, with the majority in King County.

 

Responsibilities:

The Associate Director works with the Housing Development Director to manage real estate development for LIHI. The position is responsible for supervising and developing multiple projects directly along with staff as we work in project teams. The position requires knowledge of all stages of affordable housing development process, from site assessment, through feasibility analysis, to financing, start of construction, construction progress, completion, close-out and hand-off to property management.

LIHI has an exemplary track record in development activities related to acquisition, new construction, and rehabilitation of affordable rental housing, permanent supportive housing, mixed use developments, affordable homeownership and mixed-income communities.

LIHI utilizes standard as well as non-traditional affordable housing resources. Work encompasses multiple projects in varying stages of development and may include large, technically complex housing and mixed-use projects, portfolio preservation projects, rural housing and innovative initiatives.

 

The Associate Director works independently to execute projects as well as collaboratively with the department staff and the Housing Development Director. The Development Department is non-hierarchical in practice, united in a common mission to work hard and enjoy the support of each other as we all undertake very great challenges to make housing happen. This sentiment is true of all members of our team, from support staff to senior project managers and the department’s Director.   The Associate Director of Housing Development will assist in carrying out the Housing Development Department work plan to develop LIHI-owned housing, provide development consulting services to other nonprofit and for-profit organizations and increase the resources for low-income housing through advocacy work.

The duties of the position include:

 Project Management:

  • Researches new project opportunities in keeping with LIHI’s goals and mission.
  • Oversees and coordinates all stages of affordable housing development including site research and acquisition, feasibility analysis, pre-development, design, project financing, and construction for development projects.
  • Secures funding to support feasibility, site acquisition, pre-development, construction, and permanent financing phases of development.
  • Conducts feasibility studies and develops pro-forma financial projections. Develops detailed financial analyses and budgets and provides regular reports as required. Writes project applications and proposals required to secure competitive and non-competitive development and operational resources for project development and sustained operations. • Oversees and closes loans and equity financing for projects to enable start of construction.
  • Develops and oversees schedules and budgets from project start to completion. • Oversees and monitors progress through project completion of development team members including architects, engineers, contractors, legal counsel and financial consultants.
  • Develops and manages relationships with public and private funders, community and neighborhood groups, development partners and industry professionals. • Represents organization before government agencies, planning and zoning commissions, city council, and other community meetings to garner critical support and governmental approvals for potential projects.
  • Collaborates with the property management, asset management, and finance departments on the development of new projects and rehabilitation of existing projects.

Supervisory:

  • Supervises project management staff on project development. Provide mentorship.
  • Model an attitude that problems are opportunities to collaborate on solutions.
  • Hires, trains, mentors, motivate and evaluate assigned staff.
  • Ensures new development staff receives comprehensive training.
  • Meets regularly with staff and supports their professional development and ongoing work.

Leadership:

  • Represent the Housing Development Director when needed.
  • Be an advocate for low income and affordable housing, and equitable development.
  • Promotes strong inter-departmental relationships. • Other job duties and projects as assigned.

Qualifications:

  • Develop standards and improve operating procedures.
  • Bachelors Degree is required.
  • A minimum five years of direct experience with affordable housing development. A Masters Degree as described below may be substituted for one year of experience depending on area of study.
  • Previous experience with affordable housing finance, including LIHTC.
  • Excellent presentation, written and oral communication skills
  • Ability to perform detailed financial analyses of housing developments concerning site acquisition, predevelopment activities, construction financing, and permanent financing.
  • Highly independent, with ability to handle daily responsibilities and projects with minimal direction.
  • Ability to work under pressure and successfully meet deadlines.
  • Ability to understand architects drawings, legal documents and real estate agreements.
  • Must be able to work collaboratively with project teams, funders, government agencies and a wide variety of individuals
  • Knowledgeable of and involved with local and state affordable housing issues and industry groups. • Demonstrated ability to supervise staff.
  • Must pass criminal background check and drug screen test.

 

Preferred Qualifications:

  • Project management of complex projects (resyndications, LIHTC, mixed-use).
  • Masters Degree in planning, public policy, business, or a related field.
  • A minimum of two years supervisory experience.

 

This is a management level exempt position.

If interested in this position please send in a cover letter and resume. All application materials should be mailed, faxed, or dropped off in person to:

 

The Low Income Housing Institute

Attn: Human Resources

2407 1st Avenue

Seattle, WA 98121

Fax: (206) 443-9851

 

Or e-mailed to: hr@lihi.org

 

NO PHONE CALLS, PLEASE

 

Closing date: Open until filled.

 

The Low Income Housing Institute is an equal opportunity employer. LIHI participates in E-Verify. Qualified women and minorities are encouraged to apply.

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