Project Manager, Development

New York City Housing Development Corporation•New York, NY

1d•$85,000 - $105,000•Onsite

About The Position

The Project Manager is responsible for originating, underwriting, and closing mortgage loans to finance the new construction and preservation of affordable and public housing using funds raised through bond issuances and/or allocations of corporate reserves. This role reports to a Vice President in Development.

Requirements

Bachelor’s degree with substantial course work/credits specific to finance, and/or real estate.
Minimum of 2 years of relevant experience in real estate lending, and/or development (may be substituted with graduate degree in finance, real estate development, and economic development, or graduate degrees in city planning or public policy with a focus on finance).
Demonstrated interest in affordable housing.
Proficiency in creating mortgage loan models and employing financial concepts.
Strong interpersonal, verbal, and written communication skills.
Ability to build relationships with staff, executives, and external partners.
Strong organizational skills with excellent attention to detail.

Nice To Haves

Graduate degree in related field a plus.
Knowledge of Federal, New York State, and New York City affordable housing programs and the development process is a plus.

Responsibilities

Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to credit committee for approval).
Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, most notably NYC HPD and NYCHA, bankers, bond underwriters and tax credit syndicators.
Manage relationships with current and prospective developers/borrowers.
Prepare management reports and loan tracking information and update internal systems with deal information.
Assist in evaluating and/or formulating affordable housing program and policy initiatives.