Senior Director, Affordable Housing

Volunteers of America National Services • Denver, CO

10d • $150,000 - $160,000

About The Position

The Senior Director is responsible for leading a team in executing all areas of development of affordable housing with a focus on financial analysis, due diligence, policy research, site selection, entitlements, financing applications, and overall management of the entire development team/process from inception through permanent loan conversion, 8609’s and transition to asset management. Core measures of accomplishment include identifying new opportunities, successful closing of real estate development, acquisition, and/or preservation projects within budget, on schedule, and generation of developer fees/revenue compared to approved budgets.

Requirements

• Bachelor’s degree required with a graduate degree preferred.
• Excellent project management, organizational, and relationship skills.
• At least 8 years’ related experience/education or equivalent combination of education and experience in affordable housing finance and real estate development.
• Excellent verbal, written, presentation and public speaking skills.
• Ability to work independently, keep flexible hours and to travel 15% of the time.

Nice To Haves

• Experience of having led project teams and closed at least two LIHTC transactions preferred.

Responsibilities

• Strategy and Business Development Work with the VP, Real Estate development and others to determine the strategic direction in geographic target areas and specific opportunities within those areas.
• Work with VOA affiliates in geographic areas to determine their strategic areas of focus and how VOANS housing development can assist them in meeting their goals.
• Develop and maintain strategic relationships with elected officials, brokers, other developers, property owners, city staff, and other key stakeholders.
• Look for partnership opportunities with other developers/housing authorities when strategically beneficial and respond to RFPs and RFQs.
• Source land opportunities, recommend sites for development, and negotiate Letters of Intent/Purchase & Sale Agreements with brokers/owners.
• Predevelopment & Closing Research affordable housing policy and local funding sources for opportunities.
• Track market trends, comparable properties, competitive landscape, and other affordable local housing dynamics.
• Lead the internal team and outside consultants including architect, engineer, environment, market analyst, and other consultants to complete due diligence, design, and permitting.
• Perform financial analysis using Microsoft Excel.
• Lead efforts to obtain entitlements and zoning where necessary.
• Lead and complete financial applications for various funding sources including tax credits, tax exempt bonds, project-based vouchers, CDBG funds, tax exemptions, local soft funds, and other sources.
• Engage and direct legal counsel (internal and external) in the formation of new entities, closing documents, board resolutions, and other documents.
• Manage equity and debt relationships with external partners.
• Prepare DRC/RELC/VOANS Board committee applications and present them to internal committees for review and approval.
• Lead application and closing processes including equity, debt, soft funds, and due diligence closing checklists through closing.
• Lead and provide guidance to the development team members for all closing requirements.
• Construction & Close Out Supervise the general contractor, in conjunction with the construction manager or owner’s representative, through construction completion and the warranty period.
• Oversee construction loan, equity, and soft funding partner draws in conjunction with the accounting team.
• Provide direction and guidance and facilitate the transition from development to operations with housing management, accounting, asset management, and local affiliate staff, among others.
• Organize and execute groundbreaking and grand opening ceremonies.
• Work with accounting, asset management, and compliance to ensure that all funding compliance requirements are completed on time.
• Complete permanent loan conversion and 8609 submissions.

Benefits

• 403(b) Retirement Plan
• Pension Plan
• Paid Time Off (vacation, holiday & sick days)
• Quality training, continuing career education, scholarship opportunities, and leadership programs
• Employee Discount Program (car rental, wireless carriers, travel, etc.)

What This Job Offers

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