Director, Housing Affordability

HR&A Advisors•Los Angeles, CA

2d•$141,600 - $163,779•Hybrid

About The Position

At HR&A, we are problem solvers for cities. We guide decision-makers, including mayors and agency heads, real estate owners and developers, and non-profit leaders, to create impact when the stakes are high and the path forward isn’t clear. We believe in creating vital places, building more equitable and resilient communities, and improving people’s lives, from Los Angeles to Brooklyn. We come from diverse backgrounds, have a breadth of lived experience, and share a passion for cities. We are former public officials, executive directors, planners, social scientists, lawyers, architects, and economists. HR&A has offices in Atlanta, Dallas, Los Angeles, the Bay Area, New York, Raleigh, and Washington D.C. The Housing Affordability Practice works at the state and community level to create and preserve homes that meet the needs of the community. We develop housing plans and strategies that address local housing needs and priorities. We design and implement solutions, from inclusionary zoning policies to affordable housing investment funds. And we underwrite and close housing transactions on behalf of mission-driven clients. This range of work, from planning to deal making, makes us better at designing policies and tools that work in practice. We enjoy understanding and working with the complexities of the housing market to advance the public good, in partnership with our clients. Plans: We create housing plans and strategies based on local needs and priorities. Most recently, we’ve created a housing plan that tackles affordability and climate resilience for Houston and Harris County and a regional strategy that responds to displacement challenges in Atlanta. Policies: We design and implement solutions, from inclusionary zoning policies to anti-displacement programs. We have studied the feasibility of office to residential conversions in Boston, social housing development in California, and rent control in New York. Transactions: We helped craft Amazon's Housing Fund, a $3.6 billion commitment to preserve existing housing and create inclusive developments through below-market loans and grants, and continue to serve as one of its underwriting partners. We also launched the $150 million Central New York Housing Fund, supporting over 2,500 new homes in the Syracuse region. Digital Tools: The Housing Affordability Practice developed HousingWeaver, a housing market analytics platform designed to help you understand your housing market, develop policies and programs to address the housing needs of your community and track the impact of those policies and programs over time. We have used it to set housing production goals for the State of Maine, evaluate the suitability of public land for affordable housing in the Puget Sound Region, and estimate the impact of changes in land use regulations Montgomery County, MD. We are seeking Director candidates with a passion for addressing housing affordability challenges to work closely with the lead partner for the Housing Affordability practice in our Los Angeles office. HR&A’s housing affordability practice works with cities, advocates, developers and housing authorities across the country to understand their housing challenges and develop effective solutions. The successful candidate will have a(n): Passion for housing affordability, community development and inclusive communities overall; Familiarity with local housing policy tools (e.g. inclusionary zoning, preservation loan funds, by-right development, etc.) and emerging housing challenges; Grasp of the development process, real estate economics and the ability to draft and read develop project financials; Ability to engage with local officials and community leaders on complex housing policy issues; Desire to help build the housing affordability practice by leading engagements, training staff and advancing thought leadership; Broader interest in HR&A’s work to address the most pressing challenges facing cities. Day-to-day tasks will require managing internal and external teams to complete housing market analysis, leading stakeholder engagement activities, and evaluating the economic feasibility of housing policies including pro forma analysis for a range of uses, market feasibility research, business planning, public-private partnership strategy, and public policy design. The Director will review and present deliverables to clients, including memos, reports and PowerPoint presentations; and will support the firm’s marketing and client engagement efforts.

Requirements

Strong analytical, project management, relationship management and housing finance capabilities
Passion and interest in developing and implementing new programs and policies to address the housing challenges of communities across the country
6–10 years of work experience in housing policy analysis and design, housing market analysis, affordable housing finance, and/or consulting in a related field
5-7 years of experience in Real Estate Development or Finance
4+ years of real estate underwriting experience, preferably with affordable multifamily
2+ year of relationship management
Thorough knowledge of common underwriting practices and procedures
Thorough understanding of housing and affordable housing related market forces including general real estate principles, supply and demand economics and other multifamily demand drivers
A high degree of proficiency in real estate financial modeling
Comfort synthesizing data and crafting a compelling narrative
Comfort presenting to internal senior leadership and external clients
Strong project management experience, including professional and interpersonal communication skills aligned with guiding teams

Nice To Haves

Experience with affordable housing finance is a plus

Responsibilities

Managing internal and external teams to complete housing market analysis
Leading stakeholder engagement activities
Evaluating the economic feasibility of housing policies including pro forma analysis for a range of uses, market feasibility research, business planning, public-private partnership strategy, and public policy design
Reviewing and presenting deliverables to clients, including memos, reports and PowerPoint presentations
Supporting the firm’s marketing and client engagement efforts
Leading engagements, training staff and advancing thought leadership