What are the responsibilities and job description for the Director of Development position at Testa Companies?
Director of Development (Affordable Housing / LIHTC)
Location: Ohio
Experience: 8 Years
Employment Type: Full-Time
Position Overview
We are seeking an experienced Director of Development to lead the development of affordable housing projects throughout Ohio. This role requires a development professional capable of leading all phases of the development process, from initial concept and site evaluation through financing, approvals, construction, and project stabilization.
The ideal candidate will have at least eight (8) years of affordable housing development experience, including direct experience with Low Income Housing Tax Credit (LIHTC) transactions and familiarity with Ohio Housing Finance Agency (OHFA) programs, as well as working knowledge of FHA multifamily financing, USDA Rural Development programs, and Section 8 rental assistance.
Projects include 9% and 4% LIHTC developments financed through OHFA, often utilizing layered capital stacks including FHA, USDA Rural Development, Section 8 rental assistance, and other public funding sources.
This role will have primary responsibility for advancing assigned projects and will serve as the internal lead coordinating financing, approvals, consultants, and the broader development team throughout the project lifecycle.
Responsibilities
- Assume primary responsibility for advancing assigned developments, leading all aspects of project execution including site control, financing strategy, approvals, design coordination, construction oversight, and project stabilization.
- Lead the development and execution of affordable housing projects from concept through construction completion and stabilization.
- Identify and evaluate development opportunities and potential sites.
- Prepare and submit LIHTC applications through the Ohio Housing Finance Agency (OHFA).
- Structure and secure multi-layered project financing, including:
- LIHTC (9% and 4%)
- FHA-insured multifamily financing
- USDA Rural Development programs
- Section 8 project-based rental assistance
- State and local gap financing
- Federal Home Loan Bank
- Develop and maintain financial models, development budgets, and project pro formas.
- Coordinate with investors, lenders, housing agencies, and public partners.
- Manage and direct architects, engineers, consultants, attorneys, contractors, and other development team members.
- Oversee due diligence, entitlements, zoning approvals, and permitting.
- Monitor construction progress, schedules, and project budgets through completion.
- Ensure compliance with LIHTC regulations, OHFA requirements, FHA/USDA guidelines, and Section 8 program rules.
- Lead community engagement and stakeholder relations, representing the project before local governments, community groups, and public agencies to facilitate approvals and support successful development outcomes.
Qualifications
- Minimum 8 years of affordable housing development experience.
- Direct experience with LIHTC development and financing.
- Familiarity with OHFA LIHTC application processes and requirements.
- Working knowledge of FHA multifamily financing, HUD, USDA Rural Development programs, and Section 8 housing assistance.
- Experience structuring complex affordable housing capital stacks.
- Strong financial underwriting and pro forma modeling skills.
- Ability to manage multiple projects and coordinate diverse development teams.
- Strong communication and relationship management skills.
Preferred
- Experience with both 9% and 4% LIHTC transactions.
- Familiarity with tax-exempt bond financing.
- Experience working with public housing authorities, nonprofit partners, and local governments.
- Bachelor’s degree in Real Estate, Urban Planning, Finance, Business, or related field.
Pay: From $100,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Vision insurance
Work Location: In person
Salary : $100,000