Construction Asset Manager

Position Summary

The Construction Asset Manager oversees and optimizes the performance of a designated affordable housing portfolio. This role is responsible for driving asset value, ensuring financial sustainability, managing capital improvement initiatives, monitoring reserve funds, maintaining regulatory compliance, and supporting long-term portfolio planning. The Construction Asset Manager serves as a key steward of an assigned portfolio of assets and works collaboratively across departments to preserve and enhance the organization's affordable housing investments. The Construction Asset Manager reports directly to the Director of Asset Management.

About Montgomery Housing Partnership

Founded in 1989, Montgomery Housing Partnership (MHP) is a mission-driven, nonprofit organization dedicated to preserving and expanding access to quality affordable housing throughout Montgomery County. MHP develops, acquires, rehabilitates, and manages apartment communities while providing resident-focused services that strengthen economic mobility, educational achievement, and neighborhood revitalization. Through its integrated housing and community development initiatives, MHP advances opportunities for individuals and families and contributes to the long-term vitality of the communities it serves.

Primary Responsibilities

Strategic Asset and Financial Management

• Monitor and evaluate the financial performance of an assigned property portfolio, including cash flow projections, watchlist assets, and reserve fund management.
• Analyze operating results and identify opportunities to enhance financial performance while protecting asset value.
• Oversee compliance with debt, equity, and financing requirements, including Section 42 Low-Income Housing Tax Credit (LIHTC) regulations.
• Partner with third-party property management firms in the preparation and review of annual operating budgets and proposed rent increase recommendations.
• Review and approve replacement reserve reimbursement requests, ensuring timely submission and funding.
• Evaluate proposals and competitive bids for major capital projects and provide recommendations to leadership.
• Lead implementation efforts related to Year 15 LIHTC partnership interest acquisitions.
• Prepare asset management reports, portfolio analyses, and executive summaries for internal stakeholders and leadership.

Capital Project Leadership

• Develop and oversee capital improvement strategies in collaboration with external construction consultants and project stakeholders.
• Manage significant rehabilitation and capital improvement projects, including consultant and contractor selection, budgeting, draw request administration, and project monitoring.
• Lead development-to-operations transition activities for assigned properties, including participation in construction progress meetings, lease-up monitoring, and project closeout activities.
• Provide asset management input on future development initiatives, including design considerations, operating efficiencies, and long-term ownership strategies.
• Collaborate with Development staff on refinancing initiatives, rehabilitation projects, and strategic property acquisitions.

Portfolio Planning and Compliance Oversight

• Direct the long-term financial and physical planning of assigned assets to support sustainable ownership and operations.
• Ensure timely completion of lender, investor, insurer, and regulatory reporting requirements while maintaining ongoing compliance obligations.
• Analyze maintenance and repair trends to identify future capital needs and establish proactive asset preservation strategies.
• Coordinate and conduct quarterly property inspections to evaluate physical conditions, operational performance, and management effectiveness.
• Assess and monitor third-party property management company performance, providing guidance and accountability as needed.
• Review utility consumption and sustainability metrics, identifying opportunities to improve energy efficiency and reduce operating costs.
• Support property tax appeal initiatives, including preparation of required analyses and documentation.

Stakeholder Engagement and Organizational Collaboration

• Participate in resident meetings as needed and assist in addressing escalated resident concerns.
• Contribute to cross-functional teams, committees, and strategic organizational initiatives.
• Present portfolio performance reports and recommendations to senior leadership, internal stakeholders, and the Finance Committee of the MHP Board of Directors.
• Support additional asset management and portfolio initiatives as assigned.

Qualifications

Education and Experience

• Bachelor's degree in Real Estate, Finance, Business Administration, Construction Management, Urban Planning, or a related field.
• Minimum of five (5) years of progressively responsible experience in construction management, real estate asset management, property operations, or affordable housing.

Knowledge and Technical Experience

• Demonstrated knowledge of affordable housing programs, including Low-Income Housing Tax Credits (LIHTC), HUD Project-Based Section 8, and Housing Choice Voucher programs.
• Strong ability to interpret financial statements, operating reports, budgets, variance analyses, and capital planning models.
• Working knowledge of building systems, construction practices, maintenance operations, and capital project management.
• Proficiency in Microsoft Office applications, with advanced capabilities in Excel and experience using Outlook, Word, and PowerPoint.
• Experience with real estate and financial management systems such as MRI Investment Central, Sage Intacct, Yardi, RealPage, Boston Post, or similar platforms preferred.

Physical Requirements

• Ability to conduct on-site property inspections, including extended walking, stair climbing, and standing for prolonged periods.
• Ability to travel to properties and meetings as required.
• Valid Driver's License and reliable transportation.