Director of Real Estate

GENERAL RESPONSIBILITIES

The Director will be involved in the company's development platform by managing the property acquisition, due diligence, facilitating the underwriting, closing of real estate transactions, and managing project managers, staff, and third-party consultants from project concept to completion. 

The duties below outline the responsibilities and should not be considered an all-inclusive list. As the needs of the company change, these duties may be modified as needed. 

Role and Responsibilities

• Identify new acquisition opportunities.
• Supervise project managers and direct their work through all phases of real estate development.
• Train and mentor project managers/assistant project managers as appropriate.
• Research potential funding sources and assist project managers with financial structuring.
• Supervise design, consultant, and construction team selection.
• Review and approve project pro formas, funding applications, legal documents, loan agreements, schedules, budgets, and draw requests.
• Provide focused leadership and expertise to project design, construction, and cost containment.
• Develop documents and provide recommendations based on key findings that may affect the return and financial performance of the proposed deal
• Coordinate with construction team to ensure projects are completed as per plan and budget
• Create and maintain comprehensive project schedules and checklists with milestones for entitlements, financing, permitting and construction. Coordinate team responsibilities to meet deadlines and goals, fulfill reporting requirements, and provide updates to the Principal
• Ensure all aspects of the project adhere to company development standards.
• Maintain on-going communications with the executive team, equity partners, and other key business leaders affiliated with the project to provide periodic updates on the progress against schedule and budgets, surfaces and resolves issues that may compromise the project delivery schedule or costs, and responds quickly and with urgency to questions, concerns, and requests for information
• Complete various human resources, financial, administrative, and other reports/analysis and perform other duties as assigned or as necessary.
• Develop and maintain relationships with local market brokers, institutional and equity partners, lenders, real estate owners, and other key stakeholders.
• Present projects to the Principal for approval.
• Maintain a collaborative and supportive team environment and provide ongoing staff training.
• Serve as a representative of NREUV and spokesperson for its projects and mission.
• Build and maintain positive relationships with stakeholders and partners, including public officials, government agencies, lenders, and investors.
• Perform other duties as may be necessary to further NREUV’s mission.

Experience & Qualifications

• 10 years+ as a Project Manager managing low-income housing tax credit projects and with supervisory responsibilities.
• Extensive affordable housing development experience, including property due diligence and acquisition, land use and entitlement, site planning and design, and construction.
• Extensive financial structuring experience, including securing public subsidies, low-income housing tax credits, and tax-exempt bonds.
• Strong analytical and problems solving skills; good client and public presentation skills; and excellent oral and written communication skills.
• Excellent managerial skills; ability to initiate and maintain effective and cooperative working relationships with team members, colleagues, consultants, local government agencies, lenders/investors, and community stakeholders.
• Highly organized and detail-oriented; capacity to handle multiple tasks simultaneously in an efficient and timely manner; ability to work well under pressure; and ability to successfully meet project deadlines.
• An entrepreneurial and creative approach to problem-solving in the field of real estate development; enthusiasm and team-building spirit.
• Ability to work effectively with various community groups (including CEDC residents, government and private lenders, members of the business community, as well as surrounding neighbors of proposed developments) to listen and respond to community concerns.
• Proficiency with the MS Office suite, including sophisticated real estate financial analysis using MS Excel.
• Ability to work in a fast-paced, flexible environment.
• Ability to think creatively.
• Ability to organize and schedule tasks in support of multiple deadlines and projects; detail oriented.
• Ability to communicate effectively, both orally and in writing.

Requirements

• Bachelor’s Degree in Real Estate, Finance, or other relevant degree
• Ten years minimum experience in real estate development/Eight years of LIHTC/affordable housing development execution experience
• Expert Knowledge of the Development and Construction process
• Must have excellent finance, communication, and writing skills
• Must be a Resident of Virginia, Maryland, or Washington D.C.

Salary and Benefits

Commensurate with experience. Healthcare and other benefits available.