Director of Real Estate Development

inc • Brooklyn, NY

1d • Hybrid

About The Position

The Director of Real Estate Development is a critical, highly responsible role that owns and drives all phases of the real estate development cycle - oversees the planning, financing, and execution of affordable and supportive housing projects as well as working on asset and property management, where needed, for our current small portfolio of real estate projects. This role requires a proficient, independent leader who will be the organization’s lead on real estate matters. Reporting to the Executive Director, this role will provide an opportunity to help grow BCS’s affordable and supportive housing portfolio and ensure smooth functioning going forward. Along with Executive Director, will manage and negotiate relationships with joint venture partners, community groups, and elected officials. In addition, the role develops and maintains relationships with internal departments. BCS has two active pipeline projects in need of project leadership, with future projects anticipated. The ideal candidate has 5+ years of experience in real estate development, affordable housing finance, or project management, strong financial and Excel skills, and a passion for advancing supportive housing and other forms of housing supporting the unhoused. Prior experience with nonprofit or mission-driven housing organizations and board reporting is preferred, along with construction project management experience.

Requirements

• Master’s degree preferred (or BA/BS with 5+ years) in real estate, urban planning, public policy, business or related field
• Minimum 5 years of experience in real estate development, affordable housing, real estate finance, or project management
• Strong financial analysis and budgeting skills, with advanced proficiency in Microsoft Excel, including experience in low income housing tax credits (9% and 4%) transactions highly preferred
• Experience working with NYC HPD, HDC and NYS HCR, OTDA Programs.
• Fluency with city, state, and federal affordable housing programs and policies
• Demonstrated ability to manage multiple real estate development projects simultaneously and independently
• Passion for supportive housing and alignment with BCS’s mission
• Highly organized, detail-oriented, and self-motivated with the ability to work both independently and as part of a team
• Excellent written, verbal, and email communication skills

Nice To Haves

• Prior experience with nonprofit or mission-driven housing organizations and board reporting, preferred.
• construction project management experience

Responsibilities

• Contribute to the long-term real estate development strategy of BCS by directing and executing the strategic pursuit of new development opportunities, including identifying joint venture partners as well as leading all major RFP responses
• Provide additional support to advance the organization’s real estate portfolio and long-term growth by developing policies, procedures, and best practices for real estate development and operations
• Work with joint venture partners to source and negotiate private and public capital terms for acquisition, pre-development, construction, and permanent financing
• Collaborate with contractors, consultants, legal, property management, facilities, and social service teams to ensure successful project development, construction, rent-up, and building openings
• Ability to manipulate complex financial models to create feasible projects, including the development budget, construction and permanent funding sources, operating budget, and cash flow statements and build these models, as needed
• Manage development budgets and track project expenses to ensure alignment with approved development and operating budgets
• Assist in selection and then help manage the work of the entire development team, including project architects, financing consultants, general contractors, lenders, legal counsel, and other professionals
• Manage communication with internal teams, senior management, BCS Board Real Estate Committee, government agencies, and joint venture partners
• Other related tasks as assigned

Benefits

• Generous paid time off: 23 vacation days, 13 paid holidays, and 12 sick days.
• Comprehensive health, voluntary dental, and vision insurance.
• 403(b) retirement savings plan with a competitive employer match.
• Employer-paid Life Insurance and Long-Term Disability.
• Pre-tax commuter benefits and Flexible Spending Accounts for healthcare and dependent care.
• Financial coaching benefits and Credit Union Membership access.
• Employee Assistance Program and professional referral incentive programs.
• Employment eligibility for public service loan forgiveness programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Director