Managing Director, Real Estate Development (50351)

RiseBoro Community Partnership Inc.•Brooklyn, NY

51d

About The Position

The Managing Director is responsible for successful execution of an exciting, robust, and growing pipeline of 5000 units of new and rehab construction, and the repositioning of RiseBoro's existing assets of 3000 + units. This is a growth position for a mid-career professional who has core affordable housing development experience, excellent financial underwriting acumen, a proven track record driving deal completion and profitability from start to finish, and a passion for RiseBoro's mission to unleash the potential for communities to thrive, no matter the odds. This position will help RB achieve this mission through the development and preservation of profitable, sustainable, and affordable housing that includes coordinated services, amenities, and property management. The goals achieved will ensure the long-term affordability of the RiseBoro Housing Portfolio and the success of the communities we serve. Specific duties and responsibilities include: Mission Advance RiseBoro's real estate pipeline in service of RiseBoro's mission Ensure that all RE Development projects, embody RiseBoro's core virtues: Respect, Integrity, Compassion, Equity and Empowerment Pipeline Advancement Work independently to ensure successful, timely and profitable projects, delivering on all development phases from predevelopment to operations Identify and develop relevant key performance and risk indicators, assess emerging risks and opportunities, and develop executable plans to address all Ensure RiseBoro's development projects establish and meet high standards of financial performance Pipeline Growth Lead analysis of potential new development deals, prepare investment memos for senior leadership and board review Take an active role in the coordination of RiseBoro's response to competitive development RFPs and RFQs Seek and identify new opportunities to expand the RB Development Pipeline Preservation In coordination with the Director of Asset Management, develop and execute repositioning strategy for existing assets Leadership & Impact Provide mentorship and training to Project Managers. Take an active role in on-the-job learning opportunities for less experienced team members. Leading by example, imbue best practice underwriting, operationalize process to improve productivity, and ensure excellence in program management to achieve RiseBoro's goals Cultivate and curate strategic relationships to enhance the organization's impact and reach, including those with key funders, investors, development partners, government agencies, tenants, elected officials, and other stakeholders Participate in industry events, represent RiseBoro on applicable working groups and task forces Identify and advance cross-functional collaboration opportunities within RiseBoro

Requirements

Demonstrated progressive experience in low-income housing tax credits (9% and 4%) transactions, bond financing transactions and Year 15 transactions, the affordable housing industry, and sustainable development practices
Demonstrated advanced experience in real estate underwriting
Demonstrated knowledge of city and state agencies, programs, and development processes
Demonstrated management/supervisory experience
Excellent oral and written communication skills
Excellent interpersonal and relationship management skills
A Self-starter with a passion for urban planning with a sense of social responsibility
Highly organized with strong attention to detail
Ability to manage and execute multiple critical priorities
Ability to foster an environment of collaboration and maintain positive working relationships
Proficient in Microsoft Office Suite; specifically, advanced Microsoft Excel skills
Commitment to RiseBoro's mission, vision, and values
Commitment to the development of affordable housing and the desire to meet and exceed NYC's carbon emission reduction goals.
Ability to understand the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities
Commitment to supporting communities who have experienced systemic oppression and/or bias (i.e., people of color, LGBTQ+ people, immigrants, justice-involved persons, etc.)
Bachelor's degree required
3-5 years' experience underwriting NYC affordable housing transactions

Nice To Haves

Master's degree in Real Estate, Urban Planning, Business, or similar field preferred
4-8 years of project management experience in affordable housing, development, or related experience, preferred
2-3 years supervisory experience, preferred

Responsibilities

Advance RiseBoro's real estate pipeline in service of RiseBoro's mission
Ensure that all RE Development projects, embody RiseBoro's core virtues: Respect, Integrity, Compassion, Equity and Empowerment
Work independently to ensure successful, timely and profitable projects, delivering on all development phases from predevelopment to operations
Identify and develop relevant key performance and risk indicators, assess emerging risks and opportunities, and develop executable plans to address all
Ensure RiseBoro's development projects establish and meet high standards of financial performance
Lead analysis of potential new development deals, prepare investment memos for senior leadership and board review
Take an active role in the coordination of RiseBoro's response to competitive development RFPs and RFQs
Seek and identify new opportunities to expand the RB Development Pipeline
In coordination with the Director of Asset Management, develop and execute repositioning strategy for existing assets
Provide mentorship and training to Project Managers.
Take an active role in on-the-job learning opportunities for less experienced team members.
Leading by example, imbue best practice underwriting, operationalize process to improve productivity, and ensure excellence in program management to achieve RiseBoro's goals
Cultivate and curate strategic relationships to enhance the organization's impact and reach, including those with key funders, investors, development partners, government agencies, tenants, elected officials, and other stakeholders
Participate in industry events, represent RiseBoro on applicable working groups and task forces
Identify and advance cross-functional collaboration opportunities within RiseBoro