Director of Real Estate Development

About Capital Area Housing Partnership: At Capital Area Housing Partnership, we're on a mission to develop strong and diverse neighborhoods, emphasizing affordable housing, homeownership opportunities, and financial security for our neighbors throughout mid-Michigan. We envision healthy and vibrant communities reinforced with supportive services and equitable opportunities for upward mobility that empower all our neighbors to lead a sustainable and prosperous quality of life. Through our comprehensive approach, we are building and rehabilitating multi-and-single family homes, delivering housing and financial education, providing emergency assistance, and engaging communities to revitalize neighborhoods. Our work is more than bricks and mortar. Housing is an equal right for all, and we remain steadfast in building equitable opportunities and transforming

Position Summary: CAHP's Housing Opportunity team works to expand the availability of affordable homes through significant real estate development. This position is not a property manager or regional manager. This position works to acquire and resyndicate LIHTC deals among other responsibilities. The Director of Real Estate Development leads and manages CAHP’s acquisition, development, and operation of multifamily properties. CAHP has ownership interests in 8 such properties (540 apartments) which were supported with federal Low Income Housing Tax Credits (LIHTC). CAHP is in the process of adding 3 more projects (334 total apartments) to its portfolio.

Essential Duties and Responsibilities:

· Identify and vet possible development opportunities

· Negotiate the purchase of properties

· Arrange partnerships, where appropriate, with other developers

· Submit funding applications

· Arrange debt and equity financing

· Coordinate and monitor contracts with architects, general contractors, property management companies, and accountants

· Monitor project progress, identify and mitigate risks, and ensure the project remains on track and within budget

· Conducting market analysis, preparing pro forma statements, and evaluating the financial viability of projects.

· Securing necessary financing, including LIHTC, tax-exempt bonds, and other sources

· Provide and review documents for financial closings

· Monitor construction, including construction draws

· Provide reports to funders and other stakeholders

· Work with staff members and consultants to monitor the ongoing operation and performance of properties in CAHP’s portfolio

· Takes corrective action when problems arise

· Works with consultants and attorneys to acquire the investor’s ownership interest

· Resyndicate the project to maintain long term quality and affordability

Qualifications and Skills

· Experience in affordable housing development, particularly LIHTC projects.

· Strong financial analysis and modeling skills.

· Ability to make solid and compelling presentations to funders, planning and zoning commissions, etc.

· Ability to prepare and review real estate financial pro formas

· Excellent project management and organizational skills.

· Initiative and demonstrated sense of urgency.

· Effective communication and interpersonal skills.

· Knowledge of construction processes and regulations.

· Proficiency in relevant software and systems.

· Build and maintain relationships with various stakeholders, such as lenders, equity partners, consultants, and residents

· Excellent relationship-building skills and a customer service orientation that leads to sustainable and mutually beneficial external partnerships.

· Ability to analyze and revise practices to improve efficiency.

· Strong written and verbal communication skills to communicate effectively with staff, volunteers, stakeholders, consumers, community partners and the public in an empathetic, inclusive, and supportive manner.

· Professional appearance and courteous manner.

· Self-motivated and effective in a team setting and individually.

· Proficiency with SmartSheets, DropBox

· Proficiency in Office 365, and general office technology including printers, copiers, scanners, and computers.

· Demonstrated belief in CAHP’s mission

Reporting Relationship: Reports to the Executive Director

Work Environment and Physical Demands:

· Ability to use office equipment and work sitting or standing in front of a computer for extended periods of time.

· Reliable transportation for travel within the mid-Michigan footprint. Use of a personal motor vehicle for transportation requires proof of insurance and the driver must have a valid Driver's license.

· Walk moderate distances over rough terrain, climb ladders, inspect crawl spaces, attics, cellars, and work in confined/cramped body positions – including surfaces that may be slippery.

· Occasional moderate lifting of supplies and materials.

· Requires evening and weekend work on occasion.

· Successful completion of a criminal background check.

Annual Minimum Base Pay: All the roles within CAHP have pay ranges that commensurate with the knowledge, skills, and abilities of the successful candidate. The annual pay range for this position is $62,400 - $83,200.

Equity, Diversity, and Inclusion: CAHP is an equal opportunity employer. Applicants are considered for positions without regard to veteran status, uniformed member status, race, color, religion, sex, national origin, age, physical or mental disability, pregnancy, citizenship status, sexual orientation, gender identity, or any other category protected by applicable federal, state, or local laws. CAHP is committed to dismantling systemic inequities that continue to cause harm for Black, Indigenous, and other People of Color (BIPOC), Lesbian, Gay, Bisexual, Transgender, and Queer (LGBTQ ) people, women, and people with disabilities. We believe that these communities must be centered on the work we do. We strongly encourage applications from people with these identities or who are members of other marginalized communities. Together, we will continue to build capacity and accountability in our policies, practices, and partnerships.

Why Capital Area Housing Partnership? CAHP offers a competitive total rewards package including a competitive salary, medical/dental/vision coverage with an employer contribution of 100% towards single coverage and 0% towards dependent coverage effective with the date of hire. In addition, CAHP provides a 3% employer match into a retirement plan each year, and annual incentive-based bonuses. Team members receive 18 days Paid Time Off, and 13 Paid Holidays. Paid time off is prorated for the first year.

Job Type: Full-time

Pay: $62,400.00 - $83,200.00 per year

Benefits:

• Dental insurance
• Health insurance
• Paid time off
• Retirement plan
• Vision insurance

Ability to Commute:

• Lansing, MI 48906 (Preferred)

Ability to Relocate:

• Lansing, MI 48906: Relocate before starting work (Preferred)

Work Location: In person

Salary : $62,400 - $83,200