Vice President of Affordable Housing Development

PLK Communities•Norwood, OH

21h

About The Position

PLK Communities is building its own 4% LIHTC platform and seeks a leader to establish and run the program. Reporting directly to the Chief Development Officer, this person will develop the systems and processes needed to win awards, secure approvals, close deals, and start construction, using PLK’s existing architecture, construction, and land acquisition teams. The first target is to break ground on a PLK-led deal in 2028, followed by two project starts per year, with the platform growing as its processes are proven. The role is intended for a proven developer who has taken 4% LIHTC deals from award to construction start; prior experience running a division is not required. The position leads deals from site control through award, financial closing, and construction start. It includes underwriting opportunities, coordinating capital stacks and third-party professionals, securing local approvals, and managing schedules and budgets. The role hands completed deals off to PLK’s construction and property management teams. It does not involve raising equity for PLK or running horizontal land development; PLK’s finance and capital markets team leads lender relationships and debt financing. PLK Communities is the largest locally based multifamily owner-operator in Greater Cincinnati. It owns and manages more than 8,000 apartment homes across Ohio, Kentucky, and Florida, is expanding into Tennessee, and has more than 250 employees. PLK is a long-term owner that builds to hold. It has completed a LIHTC development through a joint venture and owns and manages a 240-home LIHTC community.

Requirements

Personally led multiple 4% tax-exempt bond LIHTC deals that were awarded and went on to start construction.
Know the LIHTC capital stack and have coordinated multiple funding sources through closing.
Know how state housing finance agencies work.
Have set up systems and processes that got deals across the finish line.
Have won local approvals and be able to present to a planning commission or neighborhood group.
Be able to run several deals at once without losing track of them.
At least 5 years of affordable housing development experience, with significant 4% LIHTC experience.
Bachelor’s degree in real estate, finance, planning, or a related field.

Nice To Haves

Experience with OHFA, Kentucky Housing Corporation, THDA, or Florida Housing.

Responsibilities

Build repeatable application processes, including templates, checklists, schedules, and standards.
Use PLK’s in-house architecture, construction, and land acquisition teams; identify and fill personnel gaps as the pipeline grows.
Own the application calendar with state housing finance agencies, beginning with Ohio, Kentucky, and Tennessee, with Florida and other markets to follow.
Lead 4% bond and LIHTC applications from preapplication through the 42(m) letter and final award.
Secure local approvals, including zoning, site plan, and public hearings.
Build working relationships with state agencies, bond issuers, housing authorities, and city staff.
Underwrite deals early and determine which opportunities move forward.
Build and coordinate each deal’s capital stack, including tax credit equity, bonds, debt, and soft funding; identify funding gaps and sources to fill them.
Manage third parties, including market study providers, environmental consultants, architects, counsel, syndicators, and bond counsel.
Drive deals from site control through financial closing and construction start.
Hand off deals to PLK’s construction and property management teams.
Break ground on the first PLK-led deal in 2028, then start two projects a year and grow from there.
Track each deal against schedule and budget and report progress to the Chief Development Officer.