VP of Real Estate Development

Jubilee Housing • Washington, DC

5d • Hybrid

About The Position

The Vice President of Real Estate Development is the executive in charge and responsible for all aspects of the real estate development process for the organization. It manages a team of internal and third-party real estate professionals, responsible for project development from inception to stabilized operation, overseeing acquisition, financing and rehabilitation of affordable housing projects and commercial spaces dedicated to resident programs and services. Development activities include helping to identify and assess purchases or development proposals, analyzing housing needs and identifying opportunities suitable for Justice Housing development, assessing project feasibility, performing due diligence, assembling the necessary financing using a variety of public and private sources, and oversee design and construction services. This position will work closely with outside agencies, tax credit syndicators, the District Government, and assist in and oversee the preparation of funding applications to these and other entities. This position will serve as a liaison with Jubilee’s asset management and property management functions regarding building turnover and stabilization.

Requirements

• Minimum 10+ years of experience specifically in affordable housing development including LIHTC, HUD, Fannie, Freddie, DCHFA, DHCD, other District agencies, and rental subsidy programs; previous experience working with diverse populations preferred.
• Proven track record of acquisition, financing, and closing multiple LIHTC and rent subsidized deals.
• Familiarity with the general principles of real estate, including operations and analysis, underwriting, budgeting, financial reporting, general accounting and lending practices.
• Must have multiple relationships with lenders, syndicators, investors, government housing agencies, development departments and key executives/stakeholders within the District and or DC Metro area.
• Strong stakeholder service skills.
• Exceptional dedication to dependability and punctuality.
• Strong work ethic.
• Ability to engage a team toward a common mission.

Nice To Haves

• Leadership, communication, team building, interpersonal skills.
• Strategic Mindset: Sees ahead to future possibilities and translates them into breakthrough strategies.
• Business Perspective: Applies knowledge of the industry to advance the organization's goals.
• Decision Making: Obtains information and identifies key issues and implications to make sound and informed decisions.
• Influence and Negotiation: Uses persuasion and authenticity to gain support and cooperation from stakeholders to achieve a desired outcome.
• Budgeting & Project Proformas: Creates and manages financial plans that allocate resources effectively to achieve the organization's goals.
• Education: Bachelor’s degree in finance, accounting, real estate, urban planning, or related field. MBA or MRED preferred.

Responsibilities

• Oversees the life cycle of the real estate pipeline
• Manages production of applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewal
• Prepares and analyzes pro-forma financial spreadsheets, income statements, project development and operating budgets and other relevant financial analyses of low-income housing and other real estate developments.
• Coordinates underwriting and due diligence with lenders and investors
• Works with counsel to negotiate all real estate transaction related documents, including purchase and sale documents, loan documents, equity investment agreements, and operating agreements of all types
• Responsible for the management of day-to-day project activities to meet project schedule, quality, and budget objectives
• Initiates and administers bid process for selection of Architects, General Contractors and other project professionals
• Monitors project safety and enforces company standards
• Coordinates delivery of cost certifications, production of 8609’s, and other close out items
• Efficient working knowledge of MS Office and real estate data subscription services, strong underwriting skills and knowledge of affordable housing financial pro-forma modeling systems.
• Ability to obtain market and demographic information and analyze that information.
• Ability to read, analyze, and interpret reports, technical procedures, real estate financing documents and contracts, and governmental regulations.
• Strong attention to detail.
• Ability to effectively manage and oversee work of others and hold them accountable, enforcing performance improvement plans when necessary.
• Ability to work independently and cooperatively; demonstrate professionalism, diplomacy and flexibility in a variety of situations.
• Ability to communicate effectively verbally and in writing.
• Ability to organize multiple complex tasks and schedules.

Benefits

• Benefits include health, vision, and dental insurance, STD, LTD, and Life insurances, paid vacation, sick leave, holidays, transportation stipend and a 403b matched contribution retirement plan.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Number of Employees: 11-50 employees