Senior Affordable Housing Associate

Stoel Rives • Washington, DC

1d • Hybrid

About The Position

Stoel Rives LLP is seeking an associate with six or more years of affordable housing experience to join its Real Estate Practice Group. The firm's Real Estate & Construction team consists of more than 60 attorneys who provide legal counsel to a wide range of clients in the real estate industry, assisting with various aspects of commercial, residential, and agricultural properties. This role involves working on the full lifecycle of affordable housing deals.

Requirements

• Six or more years of affordable housing experience.
• Experience with the full lifecycle of affordable housing deals: site control, due diligence (title/survey, zoning, property tax exemptions), financing, construction/permanent loan closings, and post-closing matters.
• LIHTC experience (9% and 4%), including tax-exempt bond financings and layered financing structures.
• Experience drafting core deal documents, including development agreements, disposition/purchase sand sale agreements, partnership/operating agreements, loan and credit agreements, regulatory and land use agreements, ground leases, joint venture agreements, and debt and equity opinion letters.
• Experience coordinating and negotiating with lenders, investors, municipal and state agencies, and third-party consultants; shepherding multi-party, multi-deadline transactions.
• Familiarity with HUD programs such as Section 8/HAP, RAD conversions, FHA-insured loans (e.g., 221(d)(4), 223(f)), mixed-finance, HOME/CDBG, and state housing finance agency requirements.
• Experience with preservation, resyndications, portfolio transactions, rehabilitation, and scattered-site projects.
• JD and active bar membership in good standing; ability to gain admission where required.

Nice To Haves

• Candidates need not have all of them; rather, having many of them coupled with the drive and enthusiasm to develop the rest is paramount.

Responsibilities

• Manage the full lifecycle of affordable housing deals, including site control, due diligence (title/survey, zoning, property tax exemptions), financing, construction/permanent loan closings, and post-closing matters.
• Handle LIHTC experience (9% and 4%), including tax-exempt bond financings and layered financing structures.
• Draft core deal documents such as development agreements, disposition/purchase and sale agreements, partnership/operating agreements, loan and credit agreements, regulatory and land use agreements, ground leases, joint venture agreements, and debt and equity opinion letters.
• Coordinate and negotiate with lenders, investors, municipal and state agencies, and third-party consultants.
• Shepherd multi-party, multi-deadline transactions.
• Utilize familiarity with HUD programs such as Section 8/HAP, RAD conversions, FHA-insured loans (e.g., 221(d)(4), 223(f)), mixed-finance, HOME/CDBG, and state housing finance agency requirements.
• Engage in preservation, resyndications, portfolio transactions, rehabilitation, and scattered-site projects.

Benefits

• Variety of training programs and retreats addressing practice area topics and skills at all levels, as well as legal and professional skills generally.
• Coaching and mentoring program.
• New lawyer integration program provides new lawyers with the resources and information necessary to succeed after they join the firm.
• Core competency model which is a roadmap of the practical skills, abilities, and client service techniques needed for long-term success at the firm.
• ABA Well-Being Pledge participation.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Ph.D. or professional degree