Director, Real Estate Development

Volunteers of America - Greater New York, Inc.•New York, NY

31d•Hybrid

About The Position

VOA-Greater New York (VOA-Greater New York) is an anti-poverty organization working to end homelessness in the New York area by 2050. We operate over 60 programs across New York City, Northern New Jersey and Westchester County including emergency, transitional and permanent housing. Our services extend to families experiencing homelessness, survivors of domestic violence, people living with HIV/AIDS, veterans, youth aging out of foster care, adults with behavioral health or substance use needs, and others in need, including a special education preschool program. VOA-GNY is seeking an experienced Director of Real Estate Development to join our Real Estate Department. Reporting to the Vice President of Real Estate, the Director will lead all aspects of the real estate development process for affordable and supportive housing projects, from conception and acquisition through financing, design, construction, and conversion to stabilized operations. This role is highly entrepreneurial and will also drive business development efforts to grow our pipeline of mission-based housing rehabilitation and new construction projects throughout New York City. The ideal candidate will have a deep understanding of affordable housing finance, policy, and design, as well as a proven track record of managing complex, multi-stakeholder projects. Within VOA-GNY, the Real Estate Department (RED) is responsible for leading all development, property management, and asset management functions for the organization. With more than 1,700 units of affordable and supportive housing in the pipeline, RED is seeking to rapidly grow the organization’s housing portfolio to serve more households in need, with a focus on ensuring new developments are beautiful, innovative, and high quality. VOA-GNY recently received an unprecedented $20 million donation to support acquisition, predevelopment, and capital costs for new ground-up development in furtherance of this goal.

Requirements

Bachelor’s degree with at least 5 years of direct, full-time professional experience developing and/or preserving affordable housing, specifically in New York City. A Master’s degree in urban planning, public policy, real estate, business, or a related area of study is strongly preferred.
Experience securing sustainable financing for affordable housing new construction and/or preservation projects, with a strong understanding of local, state, and federal affordable housing programs.
Advanced proficiency in Microsoft Excel for financial modeling is required.
A comprehensive understanding of local and federal housing and development regulations.
Excellent written and oral communication skills with demonstrated experience conveying complex concepts in a clear, persuasive, and succinct manner. The candidate must have the ability to maintain strong, positive relationships with a variety of internal and external stakeholders.
Exceptional project management skills with the ability to manage multiple complex projects simultaneously under tight deadlines are required.

Nice To Haves

Knowledge of supportive housing service funding (e.g., ESSHI, 15/15).
Familiarity with issues pertaining to homeless services, behavioral health and substance use disorders, and intimate partner violence is a plus.

Responsibilities

Project Management: Lead and manage the full real estate development lifecycle for assigned projects, including site acquisition/control, due diligence, pre-development planning, design, financing, construction oversight, lease-up, and conversion – in close collaboration with subject-matter experts within RED, VOA-GNY, and consulting professionals.
Financial Underwriting: Develop and maintain complex development budgets, including sources and uses and pro forma operations. Maintain strong knowledge of local, state, and federal affordable housing funding programs, including tax-exempt bonds, Low Income Housing Tax Credits (LIHTC), capital grants, and rental and operating subsidies. Prepare and submit funding applications.
Closing Management: Coordinate and manage financial closings (construction and permanent) with lenders, equity investors, and government agencies.
Design & Consultant Management: Manage the design process, coordinating with architects, engineers, and consultants to ensure cost-effective, high-quality, sustainable, and program-compliant design.
Regulatory Oversight: Oversee all regulatory, land use, and other governmental approval processes.
Business Development: Proactively identify, evaluate, and develop responses to new project opportunities, including site acquisitions, partnerships, and competitive solicitations.
Relationship Building: Initiate and maintain strong professional relationships with key public and private stakeholders across the local housing ecosystem, including City and State agencies, design and real estate professionals, financial institutions, and service providers.
Strategic Planning: Conduct market research and policy analysis to inform development strategy and identify emerging trends and funding opportunities in the affordable and supportive housing space.
Organizational Development: Manage and develop assigned staff.