Director of Affordable Housing Development

Director of Affordable Housing Development

Rochester, NY

JK Executive Strategies is proud to partner with a mission-driven affordable housing organization in search of a Director of Affordable Housing Development to join its team!

The Director will lead the planning, financing, and execution of affordable housing development initiatives that expand access to quality, sustainable housing within the communities the organization serves. This individual will oversee complex real estate development projects from initial concept and feasibility through financing, construction, completion, and stabilization.

The ideal candidate will bring significant experience in affordable housing development and finance, with a strong understanding of Low-Income Housing Tax Credits (LIHTC), public and private funding sources, financial modeling, regulatory requirements, and the development process. This individual will work closely with executive leadership, government agencies, lenders, investors, community partners, consultants, and other stakeholders to identify development opportunities, structure financially viable projects, secure funding, and successfully move projects through the development lifecycle.

This is an opportunity for an experienced affordable housing professional to play a meaningful role in shaping the organization's development strategy and growing its impact throughout the community.

Responsibilities

• Lead affordable housing development and redevelopment projects from initial concept and feasibility through financing, approvals, construction, lease-up, and stabilization.
• Identify and evaluate potential development, redevelopment, and preservation opportunities aligned with the organization’s mission and long-term strategic goals.
• Prepare and oversee project feasibility analysis, including preliminary budgets, development costs, operating projections, financing assumptions, sources and uses, and cash-flow projections.
• Structure complex affordable housing financing strategies utilizing Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, grants, conventional debt, subsidies, and other public and private funding sources.
• Lead and coordinate competitive applications for affordable housing financing and development programs available through federal, state, and local agencies.
• Develop and maintain detailed project financial models, development budgets, operating pro formas, forecasts, and other analyses necessary to evaluate project feasibility and performance.
• Monitor development budgets, project costs, funding requirements, financing commitments, and financial risks throughout the development lifecycle.
• Lead projects through site control, acquisition, due diligence, zoning and entitlements, environmental review, design, financing, construction, lease-up, stabilization, and project closeout.
• Coordinate financial closings, working with lenders, investors, attorneys, government agencies, consultants, and other partners to satisfy financing and regulatory requirements.
• Assemble and manage multidisciplinary development teams, including architects, engineers, contractors, attorneys, financial partners, consultants, and other external professionals.
• Oversee project schedules, budgets, milestones, and deliverables to ensure developments progress efficiently and remain financially and operationally viable.
• Partner closely with construction and property management teams throughout the development process to ensure projects are designed and delivered with long-term operational sustainability in mind.
• Ensure an effective transition from development and construction into lease-up, stabilization, and ongoing property operations.
• Provide executive oversight of property management operations across the affordable housing portfolio, ensuring strong financial performance, regulatory compliance, quality property conditions, and positive resident experiences.
• Partner with property management leadership to establish portfolio-wide performance expectations and monitor key operating metrics, including occupancy, collections, operating expenses, maintenance performance, compliance, and resident-related trends.
• Review property-level budgets, operating results, cash-flow projections, capital needs, and variance reporting to identify performance concerns and support the long-term financial sustainability of the portfolio.
• Oversee long-term asset management and capital planning strategies, identifying opportunities to improve property performance, preserve affordability, address physical needs, and position assets for refinancing, rehabilitation, or recapitalization.
• Maintain a strong understanding of affordable housing regulations and programs, including LIHTC, HUD programs, New York State Homes and Community Renewal requirements, local zoning regulations, and other applicable funding and compliance requirements.
• Identify financial, regulatory, construction, and operational risks and develop strategies to proactively address potential challenges.
• Build and maintain strong relationships with government agencies, municipalities, financial institutions, investors, nonprofit organizations, community stakeholders, and other partners critical to advancing affordable housing initiatives.
• Represent the organization in meetings with community stakeholders, government agencies, financing partners, industry organizations, and other external groups.
• Provide executive leadership with regular updates regarding the development pipeline, project and portfolio financials, funding strategies, timelines, risks, and key decisions.
• Monitor affordable housing trends, funding programs, policy developments, and emerging opportunities that may support the organization’s future growth.
• Perform additional responsibilities and special projects as assigned.

Qualifications

• Bachelor’s degree in Real Estate, Finance, Urban Planning, Public Administration, Business, or a related field required; master’s degree preferred.
• 10 years of progressively responsible experience in real estate development, including significant experience in affordable or multifamily housing development.
• Demonstrated experience successfully leading affordable housing development projects from initial feasibility and financing through construction, lease-up, and stabilization.
• Strong knowledge of Low-Income Housing Tax Credits and other affordable housing financing programs and structures.
• Demonstrated experience developing project financing strategies involving multiple layers of public and private financing.
• Experience preparing, reviewing, or managing competitive funding applications for affordable housing development projects.
• Strong financial acumen, with demonstrated experience in development budgets, financial modeling, underwriting, operating pro formas, sources and uses, forecasting, and feasibility analysis.
• Strong understanding of the affordable housing development lifecycle, including site acquisition, due diligence, entitlements, financing, design, construction, lease-up, and stabilization.
• Experience overseeing or partnering closely with property management and asset management functions, with the ability to evaluate property-level financials, portfolio performance, compliance, capital needs, and operational risk.
• Knowledge of federal, state, and local affordable housing regulations and programs, including HUD, New York State Homes and Community Renewal, and applicable zoning and land-use requirements.
• Experience working collaboratively with lenders, investors, government agencies, attorneys, architects, contractors, consultants, property management teams, and community partners.
• Demonstrated ability to negotiate complex agreements and manage multiple stakeholders with competing priorities.
• Strong project management skills, with the ability to oversee multiple development projects and financing timelines simultaneously.
• Excellent written and verbal communication skills, including the ability to communicate complex financial and development concepts to a variety of audiences.
• Strategic and analytical thinker with strong problem-solving skills and the ability to identify and mitigate development, financial, and operational risks.
• Demonstrated leadership capabilities with the ability to build relationships, influence stakeholders, develop teams, and advance complex initiatives.
• Highly organized, detail-oriented, and deadline-driven.
• Proficiency in Microsoft Office Suite, particularly Excel, and experience utilizing financial modeling and other relevant real estate development tools.

Salary Range

• $125,000–$135,000

JK Executive Strategies is an Equal Opportunity Employer. It is the policy of JK Executive Strategies to provide equal opportunity in employment and conditions of employment to all individuals regardless of age, race, color, religious beliefs, national origin, sexual orientation, gender identity, sex, veteran or military status, disability, pregnancy-related condition, predisposing genetic characteristics, genetic information, marital status, familial status, prior arrest, domestic violence victim status, non-job related convictions, participation in lawful activities outside of our workplace, or any other status protected by law.