Gillian Executive Search, Inc. - recruiters in real estate development, construction and architecture
DIRECTOR OF DEVELOPMENT – AFFORDABLE HOUSING is responsible for supervision of teams managing the development process for multiple affordable residential communities (including high-rise, podium, SOG, mixed-use and inclusionary) with the support of in-house entitlement, construction, legal, accounting, administrative, and asset management staff. This responsibility includes supervising all project management team members out technical aspects of development including initial feasibility analysis, acquisition, design, financing and entitlements, coordination with construction staff in the plan check and construction stage, and coordination of start-up operations with Property Management staff. The Director of Development reports directly to the company’s President and is expected to exercise a high level of independent judgment in the conduct of business responsibility with minimal supervision. Client is seeking solid experience in affordable and/or market-rate multifamily.
Our client has developed well over $2 billion in affordable housing projects and is well regarded as one of the best affordable housing developers in California and the Country.
Primary Duties and Responsibilities
- Work closely with the executive team and other stakeholders to identify staffing needs and available expertise and direct the recruiting and selection process.
- Provide leadership, coaching, and guidance to build and support an exceptional team and work with the Organizational Development Department to implement effective training and performance development programs.
- Review, amend or develop, and implement SOPS and position requirements in support of administrative and professional excellence. Design and deploy the associated training.
- Evaluation of potential sites and suggested opportunities to determine feasibility for affordable housing development.
- Thorough review of all recommended projects before presentation to the Investment Committee with emphasis on identifying potential risks-including real estate, financing and operating risks
- Technical support, training, and professional development for junior development and project management staff helping to balance workloads and increase performance
- Review existing, establish and enforce new best practices and training that improve results and seek to minimize the administrative burden generated by these new policies
- Serve as first point of contact for development project managers, reducing the number of issues that need to be handled by upper management
- Negotiation of real estate purchases and oversight of team members assisting in the acquisition phase
- Evaluation of financial feasibility studies and oversight of financing plans for development.
- Confirm that pre-development, construction, and permanent financing from conventional, public, and quasi-public agencies are secured and the creation and management of quality development budgets for each funding source are in place.
- Oversee staff developing and managing project construction and operating budgets and financing. Insuring the quality/accuracy of those items
- Oversight of staff during loan closings and insure coordination of all lender documentation and requirements
- Oversee and ensure the integrity of bidding, contract negotiations, and management of design teams and other 3rd party consultants
- Help organize and prepare staff for public representations of the company and its development projects
- Ensure that the project management teams are coordinating properly with construction management department, general contractors, design teams and 3rd party consultants throughout each project
- Ensure that the development staff is coordinating with property management for initial marketing, occupancy and lease-up activities.
- Ensure that project management teams are closing out all projects correctly
Skills & Abilities
- Thorough knowledge of the affordable multi-family housing development
- A history of leading project teams through successful large multifamily housing developments.
- Demonstrated ability leading and mentoring in-house development staff
- Knowledge of federal, state and local housing programs to include project funding; Low-Income Housing Tax Credits, Tax-Exempt Bonds, and HOME
- Familiarity with government affordable housing programs at federal, state, and local levels
- Firm understanding and experience with public planning, entitlement, and permitting
- Ability to conduct sophisticated financial analyses of affordable housing projects including site acquisition, predevelopment activities, construction financing, and permanent financing.
- Familiarity with the funding and loan closing process and ability to facilitate financial underwriting
- Ability to understand and interpret policies of federal and state agencies and private lending institutions which may apply to a given project
- Ability to exchange information, discuss and negotiate business arrangements, and advocate for the accomplishment of proposed development
- Ability to exercise a high level of housing development skills, leadership ability, and attention to detail with a broad view of the development process
Education & Experience
- A bachelor’s degree or graduate study in business, finance, economics, public administration, community development, planning or related field. Masters preferred.
- Minimum of ten years development experience in a leadership role within affordable residential housing with an emphasis on multi-family
- Minimum of five years of experience managing a team
Reasonble Compensation is a range commensurate with breath pf experience in this field
Base: 180K-200K plus bonuses and benefits.