Project Manager for Conversions and Completions, Moderate Rehabilitation and Stabilization Loan Programs for the Division of Preservation Finance

Project Manager for Conversions and Completions

About the Agency : The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city's neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love. - We maintain building and resident safety and health - We create opportunities for New Yorkers through housing affordability - We engage New Yorkers to build and sustain neighborhood strength and diversity. HPD is entrusted with fulfilling these objectives through the goals and strategies of "Housing Our Neighbors : A Blueprint for Housing and Homelessness," Mayor Adams' comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city's history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City's complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

Your Team : The Office of Development (OOD) leads the agency's effort to create and preserve affordable housing as a critical part of Housing Our Neighbors : A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives. The Division of Preservation Finance administers multiple financing programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Housing Preservation Opportunities Program (HPO), The Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes HUD Multifamily Program (HUD MF), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP) il, Neighborhood Pillars Program ("Pillars") and the LIHTC Portfolio Preservation (Year 15) Program. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD's Office of Development in support of the Mayor's Blueprint.

Your Impact : The Project Manager for Conversions and Completions will have responsibility for all aspects of project management related to monitoring the construction and conversion of a portfolio of capitally funded projects, with an emphasis on HDFC cooperatives, including overseeing construction completion and permanent loan closing target goals. This role's tasks will include liaising with internal and external stakeholders and monitoring co-op conversion targets including the submission of co-op offering plan to NYS Attorney General. There will be significant contact with developers, tenants and affordable housing lenders and an opportunity to work directly and indirectly on multiple projects. The Construction and Conversions Project Manager will assist program leadership in monitoring construction progress and ensuring projects complete construction on time, troubleshoot any issues during construction, assist in management of the permanent loan and co-op conversion intake process internally, perform initial assessment of loan work outs and ultimately convert and transition to HPD's Office of Asset and Property Management according to the established business and legal terms of their assigned deals.

Your Role : As Project Manager, you will work under the supervision of and report to the Director and Deputy Directors of The Moderate Rehabilitation and Stabilization Programs Team within HPD's Division of Preservation Finance. You will be responsible for managing capitally funded projects through closing in HUD Multifamily and Year 15 programs. The Project Manager will provide assistance to Project Managers and Assistant Project Managers managing projects. This position supports work with Mitchell-Lama and HDFC co-operative buildings.

Your Responsibilities : As Project Manager, you will perform duties including, but not limited to the following :

• Responsible for project management related to monitoring the construction and conversion of a portfolio of projects
• Act as a liaison with developers, financial institutions, not for profit organizations and governmental agencies to promote and create affordable housing and to move preservation development projects forward; represent the Program in meetings with internal and external partners
• Assist in project management with program staff, including facilitating approvals necessary for project completion
• Track progress on an annual pipeline of preservation completion and conversion projects; track, monitor and troubleshoot projects through construction and permanent conversion
• Visit construction sites and coordinating updates between internal and external stakeholders, including the selected developer, architect, General Contractor, private institutional lender, interim property owner and Department of Buildings
• Schedule and attend tenant and community meetings to represent the agency, explain the program, and specific project details
• Review legal documents for accuracy in regards to program policy and negotiated deal terms;
• Counsel designated developers in program policies, regulations, and assisting to resolve issues related to their projects.
• Review, analyze, and comment on underwriting and preservation proposals submitted by project sponsors and make recommendations to senior staff about feasibility, and facilitating approvals necessary for closings, including credit approval
• Produce detailed reports, memoranda, presentations, and written correspondence regarding projects, programs, new initiatives, or other special projects, as needed
• Perform general project management duties for a range of capitally funded preservation transactions, as needed, including acquisitions, construction loan closings, troubleshooting projects in construction, facilitating project closings, project completion and loan conversions, and preparing recommendations for work-outs
• Review and analyze mortgage notes, regulatory agreements and other related documents requiring understanding and applying of complex regulations

Preferred Skills Candidates must have financial analysis skills including financial modeling and financial statement analysis, be detailed-oriented, self-motivated and be able to manage multiple projects and meet deadlines. Candidates must also demonstrate strong verbal and written communication skills. Preference will be given to candidates with : a knowledge of housing development / lending and knowledge of HPD development programs specifically, demonstrated analytical skills, and ability to work effectively with others to obtain results promptly. Strong proficiency with Excel and Word is required.

Qualifications : 1. A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or 2. High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or 3. Education and / or experience which is equivalent to "1" or "2" above. However, all candidates must have at least one year of experience as described in "1" above.

Additional Information : The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.