Development Manager

Job Description

Job Description

JOB TITLE : Development Manager

DIVISION / UNIT : Century - Housing Division

SUPERVISOR :

Associate Director and Vice President of Housing Development

GENERAL SUMMARY :

The Development Manager will be an entrepreneurial, innovative and creative member of a, high-performing and expanding housing development business unit within the Century Housing organization that delivers on Century’s mission of investing in homes and communities so that low income individuals and families may have a dignified living environment, achieve economic independence, and enjoy healthful and vital places to live and work.

The Development Manager will be a key member of Century’s development team, requiring both short and long-term strategic thinking, planning abilities, communication skills, organizational skills, project management skills, financial underwriting and analytical ability, and vision to help advance Century’s mission through the development and preservation of affordable housing.

The Development Manager will be responsible for strategically managing a range of real estate development activities related to the acquisition and development of affordable housing and community development projects. In addition, the Development Manager will be resourceful, pro-active and self- motivated person with the ability to balance vision and mission with practical understanding of affordable housing and real estate development constraints. Responsibilities span across the development process from deal sourcing through project completion and ultimate transition to property and / or asset management. Century’s pipeline is anticipated to primarily include the following opportunities :

• New Construction and Rehab
• New acquisition / rehab, preservation and development opportunities
• Strategic joint venture opportunities

Working under the direction, supervision and support of the Associate Director of Housing and Vice President of Housing, the Development Manager will be responsible for coordinating, communicating, and managing all aspects of our real estate development activities. Fully engaging within the Century organization, the Development Manager is responsible for coordinating and managing all stages of affordable housing development for multiple projects at any given time and ensures that objectives of each project are accomplished within prescribed timeframes and funding parameters. In furtherance of these efforts, the Development Manager will interface regularly with key stakeholders, both inside and outside of Century, to shape efforts, secure necessary support, and deliver on Century’s strategic plan.

Essential Duties and Responsibilities :

Take a lead in securing new projects that satisfy acquisition criteria to make recommendations on development and preservation activities.

Source new deals that satisfy acquisition criteria, utilizing a variety of methods including, but not limited to, broker solicitation, data mining, and responding to RFPs and RFQs.

Prepare financial, physical, and entitlement feasibility analyses of prospective acquisitions.

Engage internal stakeholders to obtain input and approvals

Maintain project files, logs and contracts

Perform standard and property-specific due diligence.

Engage community stakeholders and secure support for prospective projects. Provide public presentations if required.

Represent Century before public agencies, elected officials, community groups and financial institutions in soliciting support for new projects.

Secure all necessary entitlements and permits for real estate development.

Prepare successful funding applications for low income housing tax credits, tax exempt bonds, private, local, state and federal soft sources of finance.

Research, understand and secure funding to support feasibility, site acquisition, pre-development, construction and permanent financing phases of development.

Work with public and private lenders to secure predevelopment, bridge, construction and permanent financing.

Evaluate, engage, and manage architects, engineers, general contractors, construction managers, and other real estate development consultants.

Negotiate investment terms with equity partners in the syndication of low-income housing tax credits and other financing programs. Negotiate terms with lenders on construction and permanent financing.

Monitor and evaluate all phases of schematic design, design development and construction documents.

Coordinate and manage the flow of due diligence for loan closings.

Manage project budgets through use of job cost accounting. Interface with finance and accounting teams to submit loan draws and manage insurance.

Monitor construction and ensure that projects are delivered to Century Development Standards, on time and on budget. Manage payment applications and change orders. Ensure compliance with prevailing wages, HUD Section 3, and other mandated requirements, to the extent applicable.

Collaborate with Asset Management, Property Management and Resident Services team to secure input on prospective projects and share progress information on existing projects. Ensure a smooth transition to operations.

Other duties as required and / or assigned

Required Knowledge, Skills and Abilities

EDUCATION AND EXPERIENCE :

Minimum Requirements :

Applicants should have three (3) plus years of experience in affordable / real estate development and / or financing of multifamily housing. Position requires strong knowledge of affordable housing real estate development, affordable housing funding programs, real estate finance, construction, and permitting / entitlement processes, and community engagement. Graduate degree in planning, business or related field highly desirable.

Compensation and Benefits :

Competitive salary and excellent employee benefits package, including medical, dental, vision, 403(b) plan with company match, life insurance, flexible spending account, paid time off and paid holidays. Salary range $120,000 - $140,000.