Vice President of Development

Harmony Housing Affordable Development•Raleigh, NC

About The Position

The Vice President of Development provides strategic leadership and oversight of HHAD’s affordable housing development portfolio, including new construction, acquisition and rehabilitation, preservation, and USDA Rural Development transactions. This execution-focused executive role leads the Development department and its team, overseeing projects from initial feasibility through financial closing and transition to Construction and Post-Close Asset Management. New business origination and sourcing of debt and equity are not assigned responsibilities. The Vice President is accountable for departmental performance, project schedules, financial objectives, risk management, and timely communication of material issues. The role works collaboratively with Finance, Legal, Construction, external partners, and other stakeholders to support efficient project execution, maintain transaction quality, and meet organizational objectives.

Requirements

Bachelor’s degree in real estate, finance, business, construction, urban planning, or a related field.
Minimum 10 years of progressive affordable housing development experience, including senior leadership and oversight of multiple complex transactions.
Expertise in 4% and 9% LIHTC, tax-exempt bonds, public financing, development underwriting, entitlements, and regulatory requirements.
Experience with acquisition/rehabilitation and preservation transactions.
Proven ability to lead development teams, manage competing priorities, negotiate complex transactions, and consistently deliver results.
Strong financial acumen, executive communication, analytical judgment, organizational discipline, and collaborative leadership skills.
Proficiency with Microsoft Office and applicable project management and reporting systems.
Demonstrated integrity, personal accountability, sound judgment, transparency, collaboration, and commitment to professionalism and performance.
Satisfactory background check required.

Nice To Haves

Advanced degree.
USDA Section 515 and 538 experience.

Responsibilities

Lead and oversee the Development department, advancing transactions according to approved budgets, schedules, financing strategies, and organizational objectives.
Manage portfolio-wide priorities, closing forecasts, project milestones, resource allocations, and performance expectations.
Oversee development budgets, funding gaps, developer fee forecasts and realization, and transaction economics in coordination with Finance.
Identify project delays, financial exposure, regulatory concerns, and other material risks; implement corrective action plans and escalate matters requiring executive decisions.
Evaluate material changes to project scope, strategy, budgets, schedules, and transaction terms within established approval authority.
Lead, mentor, and hold accountable Directors of Development, Development Managers, and other assigned professionals, directly or through subordinate managers.
Establish performance expectations, individual accountability, and measurable departmental goals and KPIs.
Evaluate staffing needs, workload distribution, employee development, and succession planning.
Promote consistent development processes, quality controls, reporting practices, and continuous improvement.
Partner with Finance, Legal, Construction, and other stakeholders on underwriting, financing, due diligence, entitlements, applications, and closing requirements.
Oversee the quality, accuracy, and timely submission of LIHTC, tax-exempt bond, USDA RD, HUD, and other applicable funding applications and approvals.
Provide senior-level oversight of material transaction negotiations and purchase, partnership, financing, development, and regulatory documents.
Ensure project teams resolve outstanding issues, satisfy closing conditions, and achieve targeted closing dates while protecting approved transaction economics.
Oversee development-phase design, permitting, entitlements, environmental matters, and preconstruction coordination with Construction and external consultants.
Ensure timely identification, mitigation, and escalation of financial, regulatory, design, schedule, and stakeholder risks.
Direct documented transitions of closed transactions to Construction and Post-Close Asset Management, including budgets, contractual commitments, compliance requirements, outstanding obligations, and identified risks.
Provide appropriate development-related support following closing while maintaining clear accountability between departments.
Maintain productive relationships with development partners, property owners, housing authorities, government agencies, lenders, investors, legal counsel, and consultants.
Represent HHAD in significant negotiations, approvals, and stakeholder discussions involving active development transactions.
Provide Executive Leadership with accurate, timely, and transparent reporting on project performance, anticipated closings, developer fees, financial exposure, staffing, and material risks.
Communicate material project developments, risks, and commitments accurately and transparently to development partners and other external stakeholders.
Monitor changes in affordable housing programs and regulations, including LIHTC and USDA RD, and ensure appropriate adjustments to departmental execution.