Real Estate Development Director(Position Description)
Founded in 1992, Neighborhood Renaissance is a proven community-based organization dedicated to building and supporting strong economies and diverse communities in South Florida by providing homes that are within the financial reach of low-income families and individuals.
Reporting to the Executive Director, the Real Estate Director will build and lead a development team and assume responsibility for the successful completion of development projects that fall within the organization’s strategic plan from inception through financing, construction completion and lease-up/sales. The Director ensures that all projects increase the organization’s community and mission impact, with a focus on long-term sustainability and achievement of the organization’s production and financial goals, while maintaining the values of the organization, meeting appropriate development standards, and upholding the organization’s reputation as a quality developer.
Key objectives to be achieved within a year:
- Provide thoughtful input into the implementation of the organization’s strategic plan.
- Create a pipeline of predevelopment projects along with a system for ensuring an ongoing supply of mission-aligned projects tied to production and revenue goals.
- Increase development capacity through the addition and training of staff.
- Initiate, undertake and oversee real estate development projects; project management activities include: site selection, due diligence, land assemblage, acquisition, feasibility analysis, site planning, entitlements, permitting, selection of project team, consultants and owners rep, coordination with project development partners, finance structuring, construction and lease-up/sales.
- Obtain financing for projects including grants, loans, tax credits and other subsidies. Prepare funding applications, negotiate financing agreements and lead real estate closings.
- Secure bids for professional services, enter into contracts and supervise performance of project partners such as, general contractors, architects, surveyors, geotech, soils engineers, etc.
- Oversee the construction management process including preparation of requisitions and draw requests, collaborating with Finance department and accounting firms regarding cost certifications, and leading project closeout.
- Coordinate with property management and sales team during development period; assist with transition to lease-up/sales and conversion.
- Cultivate relationships within the affordable housing and aligned industries to enhance overall agency capacity, reputation, and partnership potential.
- Establish strong, professional relationships with funders, local governments, the design/construction industry, and other partners; attend meetings with state/local organizations.
- Research and identify additional and new ways to finance affordable housing and/or make affordable housing operationally sustainable. Identify, develop, and implement new strategies for financing projects.
- Manage development staff and ensure a productive environment with opportunities for their development and professional growth.
- Ensure continuous communication to keep the Executive Director and other key team members informed of critical issues.
- Effectively communicate with Board & Real Estate Committee keeping them apprised of project process, issues as they may arise, and opportunities to enhance community engagement as related to the project or agency.
- Build upon existing efforts to improve departmental operations, including monitoring and reporting on pipeline and project status/critical issues.
- Develop and deliver strategic objectives and plans.
- Maintain a working knowledge of city, county, state, and national policies and activities related to affordable housing development, as well as, a working knowledge of low-income housing tax credit program, state, county, and federal funding sources and related timelines, and funding application requirements.
- Retain working knowledge of land use and zoning processes.
- Responsible for contract and regulatory compliance including: Section 3, Davis Bacon, Procurement and Uniform Relocation Act
- Understand and communicate the operational implications of different courses of action.
- Prepare, manage and control budgets for all areas of responsibility, as well as, expenditures within them.
- Assess and mitigate risk and develop risk management plans for projects.
- Deputize for the Executive Director as appropriate.
- Minimum of 8 years of progressively responsible experience in real estate development or construction management including affordable rental housing finance and development experience, preferably in Florida.
- Bachelor’s degree in Real Estate Finance, Business, Engineering, and Development Design/Planning, Law or a related discipline; a post-graduate degree and/or certification is desirable.
- In depth understanding of affordable rental housing finance and development strategies. Able to prepare competitive funding applications.
- Solid problem-solving skills with the ability to think critically and provide solutions.
- Ability to focus, multi-task, and meet deadlines in a high-pressure environment.
- Work well independently and in a collaborative team environment.
- Must have strong planning, finance, communication and organizational skills.
- Ability to work with various software platforms, such as MS Office Suite and project management software.
- Demonstrated success in building consensus among parties with conflicting goals.
- Unwavering attention to detail with a results-oriented mindset.
- Ability to balance competing demands, effectively handle shifting priorities, and meet deadlines.
- Strong personal and professional integrity and ethics.
- Ability to collect, understand, synthesize, and present complex information that is readilyb understandable.
- Embraces new approaches with simple solutions to lead the organization to success.
Competitive Compensation Package Commensurate with Experience
Equal Employment Opportunity