Director of Development

We are seeking a dynamic and strategic Director of Development to join our team and expand Development for the Greater Good in the PA area. The Development Director’s primary focus is on the procurement of new deals for The Vecino Group. This position is highly relationship-based, requiring strong internal and external relationships to gather support for the project from every aspect. The Development Director has the ultimate responsibility for deal sourcing in their respective regions.

Duties

• Ambassador for The Gut Check, establishing project goals and desired outcomes at Conception
• Extensive knowledge of the current QAP for their respective territories.
• Extensive knowledge of local, state, and federal policies impacting LIHTC transactions.
• Analyze proposed developments against the state’s Threshold and Scoring criteria to ensure viability and likelihood of an allocation.
• Create a Business Development Plan through networking and establishing relationships in respective territories.
• Establish and maintain current Underwriting Guidelines specific to the respective States in area of operation. Guidelines must align with the overall Vecino Group companywide profit goals.
• Assist and support capital procurement from a variety of public and private sources, including municipal, state, federal, and tax credit opportunities, often through competitive RFP/RFQ processes, for the development of affordable and supportive housing, including new construction, rehab, and historic rehab.
• Utilizing Vecino’s Hunt and Pre-Development Process, lead the site acquisition process to obtain site control for new pursuits.
• Knowledge of market trends to accurately complete the initial proforma for the purpose of determining financial feasibility that meets Vecino’s underwriting guidelines.
• Present all proposed deals to the Development Committee and Investment Committee for approval.
• Coordinate a Team Kick-off meeting upon Investment Committee approval for a smooth handoff to the assigned Facilitator to ensure a clear understanding of the project, schedule, budget, entitlements, site, agency requirements, etc.
• Utilizing internal and 3rd party resources, lead the effort with legal and financing negotiations related to Limited Partnership Agreements to ensure alignment with Vecino’s underwriting and business guidelines.
• Collaborate with the Development Team to complete all LIHTC applications and financing applications. This role is specifically responsible for sign-off and quality control of the final application before submission, while providing expertise and responsibility for site control, financing terms, business terms, legal team coordination, etc.
• Present at public forums to represent Vecino and ensure community engagement.
• Ensure deal profitability and resources are used effectively.
• After Financial Closing, the Development Director's responsibilities extend to conversion, including:
• Main point of contact and relationship manager for housing authorities, clients, stakeholders, legal team, financing sources, investors, and partners
• Source additional capital as required during the Construction phase if additional funding is needed to complete the deal and protect the developer-paid fees.
• Remain engaged after closing to stay informed of progress on a high-level summary basis through Conversion.

Qualifications

• Bachelor’s Degree in real estate development, urban planning, business, or related field preferred.
• Minimum 5 years’ experience in the industry, with 3 years’ experience in direct Project Management or Origination of Real Estate transactions
• Ability to work remotely from the corporate office in a virtual environment and/or interact with others working remotely. Must be a self-starter with minimal supervision.
• Proficiency in Microsoft Office suite software.
• Adaptability for the introduction and implementation of new software and systems/templates for operational improvement and efficiency
• Travel required.
• High degree of customer service and communication skills. This position requires frequent communication with all project stakeholders, with the exchange of reliable information in a timely fashion.
• Requires a high level of concentration and attention to prepare, analyze, and present complex technical and financial data to aid in key decision-making.
• Ability to operate standard office equipment and to maintain documentation and files for record retention and easy retrieval in a manner consistent with company standards and policies.

Personal skills:

• Valid driver’s license and transportation required.
• Ability to understand and to seek an explanation of complex written directions from various government agencies.
• Ability to work with a wide range of entities and people, including government agencies, neighborhood residents, and independent contractors.
• Ability to work in partnership with funders, investors, consultants, contractors, regulatory bodies, and Vecino Group staff.

Knowledge of:

• Principles and practices of real estate development.
• Affordable housing financing tools, including LIHTC, TEB, FHA loan products, PBRA/PBV, Section 8 HAP/RAD, HOME, etc.; Familiarity with compliance and regulatory requirements of various sources.
• Must have experience negotiating finance, business & partnership terms, MOUs, and other development agreements.
• Housing market studies, development and operating budgets, and real estate transactions.
• Methods, techniques, and costs of multi-family housing design and construction.
• Local building, planning, and zoning codes.
• Pertinent Federal, State, and local laws, codes, and regulations governing affordable housing.

Ability to:

• Structure complex financing packages and present them in standardized development and operating proformas.
• Lead team in preparation of competitive funding applications.
• Manage multiple deal originations concurrently.
• Manage complex transactions in a deadline-driven environment.
• Coordination with the facilitator for the selection of consultants and development teams.

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Dependent health insurance coverage
• Employee assistance program
• Flexible schedule
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Parental leave
• Professional development assistance
• Tuition reimbursement
• Vision insurance