What are the responsibilities and job description for the Director of Development - Affordable Housing position at Specialty Consultants Inc.?
SCI, the leader in real estate executive search, is seeking a Director of Development to join a nationally recognized multifamily developer with a growing presence in Colorado and help build its portfolio of affordable and mixed-income housing projects.
The Director of Development will have responsibility for implementing real estate development projects from initial conception, design, entitlement, financing, through closing, construction, and stabilized occupancy. This position will work in conjunction with the internal Acquisitions team, Construction Management team, and Asset Management team, and will report to the Senior Vice President.
Responsibilities
- Source and evaluate sites with strong fundamentals that can win 4%/9% LIHTC allocations.
- Collaborate with Acquisitions on strategies to grow the Colorado pipeline and expand deal flow.
- Build industry relationships and identify new opportunities, partnerships, and co-development structures.
- Lead due diligence, financial feasibility, underwriting, and development planning to meet company and stakeholder objectives.
- Prepare pro formas, monitor performance, and ensure eligibility/competitiveness for financing programs.
- Prepare and submit successful LIHTC applications; support securing construction and permanent financing.
- Manage third-party vendors and coordinate design, construction, and project team members through completion.
- Lead closings, oversee construction period budgets/schedules, and coordinate draws, requisitions, and change orders.
- Maintain organized project documentation and support internal reporting with cross-functional teams.
- Deliver cost certification documentation, oversee stabilization and qualified occupancy, and obtain 8609s.
- Partner with Asset Management to transition properties and meet investor and regulatory requirements.
Qualifications
- Minimum of 7 years of experience in affordable multifamily finance and development
- Completion of multiple 4% or 9% deals front to back, including closings.
- Bachelor’s degree required. Advanced degree desirable.
- Strong analytical and financial modeling skills.
- Knowledge of affordable housing finance, predevelopment planning, and government approvals.
- Understanding of the various Federal programs for affordable multifamily properties such as tax credits, bond caps, Section 8 rent support, etc.