POSITION ANNOUNCEMENT: Real Estate Project Manager/Affordable Housing Development
LOCATED IN: Raleigh, North Carolina
Established in 1974, DHIC, Inc. is the Research Triangle area's leader in affordable housing development, maintaining an emphasis on innovation, quality, attractive design, and green features at our properties. DHIC has constructed, acquired and/or rehabilitated 2,923 affordable rental units in 46 different locations in eight counties in North Carolina, and has built more than 350 new homes for first time homebuyers in Wake County. Together, these projects leveraged $245 million in direct investment from both the private and public sectors. In addition to numerous design, community service, and management recognitions we have received, DHIC is consistently rated as an “Exemplary” member of the NeighborWorks® America national network of non-profit community developers. DHIC is also a member of the Housing Partnership Network. Learn more about DHIC at www.dhic.org.
THE LEADERSHIP OPPORTUNITY & NATURE OF WORK
The Project Manager has the capability to direct a housing development from initial concept stage through project feasibility, design, financing, construction, and occupancy. This work involves analysis, negotiation, management, and partnership-building skills. Work will generally be performed independently within the overall constraints of the project budget, timetable, and initial project concept. Most housing development work will involve the building new apartments financed with equity generated through the sale of low-income housing tax credits. DHIC is also about to undertake its first preservation portfolio transaction and there is the potential to work on this new endeavor as well.
This individual reports directly to the Vice President of Real Estate Development.
Key responsibilities of the Project Manager include but, at any given time, may not be limited to:
• Identify potential sites for development and conduct preliminary analyses of site suitability for proposed development.
• Along with the management team, prepare initial development program for new construction and/or rehabilitation projects, including general project concept, design, targeting, and financing.
• Build financial model for projects including projected development costs, operating costs, and debt service and equity requirements.
• Organize procurement of and work with professional design team.
• Coordinate and review documents prepared by third party professionals relating to soils tests, environmental conditions, appraisals, market studies, special construction issues, and other material related to particular developments.
• Oversee local government development review and approval process, which may include attending public meetings and meetings with local community members/neighbors.
• Prepare application for construction and permanent financing from public and private sources including low-income housing tax credit and tax-exempt bond applications for potential projects.
• Negotiate directly with public and private sources for construction and permanent financing.
• Shepherd developments through the interim and permanent closing processes on all financing components in a timely manner.
• Prepare detailed cash flow projections of projects under development and coordinate construction inspections and progress payments during construction.
• Manage both the design and construction team to ensure a high-quality product that is finished on time.
• Collaborate with and oversee the property management team during lease-up and transition of project oversight to asset management department.
• Cultivate and/or improve development partnerships and contracts with other non-profits, human service agencies, local governments, and others as a revenue diversification strategy.
• Provide written and oral reports to management and the DHIC board as needed.
• Assist with or manage project reporting to funders and investors, including NeighborWorks® America.
• Participate in annual business planning and three-year strategic planning processes.
• Participate in NeighborWorks® America training and other professional development opportunities
• Participate in budget preparation and tracking for real estate development programs in partnership with other DHIC staff.
SKILLS, QUALIFICATIONS, AND ATTRIBUTES
The Project Manager must demonstrate proven experience and ability to perform the functions indicated above and a firm commitment to DHIC’s mission. In addition, the successful candidate will possess the following attributes, skills, and qualifications:
• Bachelor’s degree required. Master’s degree in planning, real estate, or related field preferred.
• Four years of progressively responsible experience in affordable housing and/or real estate development. Some LIHTC experience is highly desired but not required.
• Prior experience in managing public/private partnerships.
• Prior experience with analysis and interpretation of complex contracts and construction documents and the exchange of accurate information about various aspects of real estate development and/or construction.
• Strong verbal, written, and interpersonal communication skills; may be required to facilitate meeting discussions which requires voice projection under various environmental conditions (e.g., construction trailers, construction sites, large meeting rooms.)
• Strong presentation skills to both large and small audiences.
• Self-motivated, yet strong team player.
• Experience and facility with financial feasibility analysis for real estate developments.
• Ability to multi-task in a fast-paced office environment and work against deadlines when required.
• Experience with construction management is a plus.
• High level of proficiency in MS Excel and Word.
• Proven ability to anticipate, identify, and analyze problems and opportunities, establish priorities, and efficiently allocate resources.
WORKING ENVIRONMENT & PHYSICAL DEMANDS
The employee is expected to maintain regular hours of work which may be a combination of remote work and working at the DHIC administrative office in Downtown Raleigh. Periodically, this person is expected to meet outside the office and coordinate events at another location. The employee is expected to meet the physical demands to perform the essential functions of this job. Project Managers may be exposed to various weather conditions and uneven walking surfaces (including ascending and descending stairs) during the course of site visits and project activity. Working from home may be needed occasionally, depending on weather, health situations and critical deadlines.
Armstrong McGuire & Associates, based in Raleigh, NC, is conducting this search in partnership with DHIC. To apply, click on the link to the position profile at ArmstrongMcGuire.com/apply. You will see instructions for uploading a cover letter, resume, salary requirements, and professional references. Please provide all requested information to be considered; failure to do so may remove you from the process. In case of any technical problems, contact email@example.com. No phone calls, please, and no applications will be accepted by email or directly from third-party posting sites (LinkedIn, Indeed, etc).