The Development Manager will support the housing business unit within the Century Housing organization that delivers on Century’s mission of investing in homes and communities so that low income individuals and families may have a dignified living environment, achieve economic independence, and enjoy healthy and vital places to live and work.
The Development Manager will be a key member of Century’s development team, requiring both short- and long-term strategic thinking, planning abilities, communication skills, organizational skills, project management skills, financial underwriting and analytical ability, to help advance Century’s mission through the development and preservation of affordable housing.
The Development Manager will be responsible for managing a range of real estate development activities related to the acquisition and development of affordable housing and community development projects, including those contained within Century’s master planned communities. The Development Manager will be a resourceful, pro-active and self- motivated person with the ability to balance vision and mission with practical understanding of affordable housing and real estate development constraints. Century’s pipeline is anticipated to primarily include the following opportunities:
- Century Villages at Cabrillo master planned community
- Rancho San Pedro master planned community
- West LA Veterans Administration master planned community
- New acq/rehab and preservation opportunities
- New Construction urban infill opportunities
- Joint venture opportunities
Working under the direction, supervision and support of the Vice President/ Director of Development and the Senior VP of Housing, the Development Manager will be responsible for coordinating, communicating, and managing various aspects of real estate development projects. Fully engaging within the Century organization, the Development Manager is responsible for coordinating and managing all stages of affordable housing development for multiple projects at any given time and ensures that objectives of each project are accomplished within prescribed time frames and funding parameters.
Essential Duties and Responsibilities:
- Utilize acquisition criteria to make recommendations on development and preservation activities.
- Source new deals that satisfy acquisition criteria, utilizing a variety of methods including, but not limited to, broker solicitation, data mining, and responding to RFPs and RFQs.
- Prepare financial, physical, and entitlement feasibility analyses of prospective acquisitions.
- Maintain project files, logs and contracts.
- Perform standard and property-specific due diligence.
- With the support of management, engage with community stakeholders and secure support for prospective projects. Provide public presentations if required.
- Represent Century before public agencies, elected officials, community groups, brokers and financial institutions in soliciting support for new projects.
- Secure all necessary entitlements and permits for real estate development.
- Prepare loan, grant and other financing applications such as low-income housing tax credit and tax-exempt bond applications.
- Research, understand and secure funding to support feasibility, site acquisition, pre-development, construction, and permanent financing phases of development.
- Evaluate, engage, and manage architects, engineers, general contractors, construction managers, and other real estate development consultants.
- Negotiate investment terms with equity partners in the syndication of low-income housing tax credits and other financing programs. Negotiate terms with lenders on construction and permanent financing.
- Monitor and evaluate all phases of schematic design, design development and construction documents.
- Manage project budgets through use of job cost accounting. Interface with finance and accounting teams to submit loan draws and manage insurance.
- Work with construction manager to ensure that projects are delivered with to Century’s standard, on time and on budget. Coordinate and manage the flow of due diligence for loan closings
- Collaborate with Asset Management, Property Management and Resident Services teams to secure input on prospective projects and share progress information on existing projects. Ensure a smooth transition to operations.
- Other duties as required, and/or assigned.
Required Knowledge, Skills and Abilities
- Three to five years of experience in affordable housing finance and real estate development, preferred
- Knowledge of affordable housing loan and grant programs along with the tax credit program, both 4% and 9% credits.
- Strong financial acumen to underwrite and model new opportunities.
- Familiarity with HUD financing and section 8 program
- Ability to manage various planning, infrastructure and long-range development efforts as part of a master plan. Ability to manage multiple projects simultaneously.
- Excellent written and oral communication skills
- Ability to work independently and problem solve relentlessly.
Education and Experience:
BS Degree in Business Administration with an emphasis in Finance or Real Estate. Two-five years underwriting preferred.
Salary and Benefits:
Attractive compensation with fully- paid medical, dental, vision and life/AD&D, long-term care, retirement plan with company match, paid time off, paid holidays and more. Paid college tuition assistance, professional development opportunities and college loan repayment assistance available.
Send resume with cover letter and salary expectations to Fern Hendrickson via Select Leaders or FAX to (310) 258-0714.
Our organization is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin or Veteran status.
- Financial Analysis
- Community Development
- Project Management
2+ to 5 years
This job is no longer active.