Director of Real Estate Development

CAREERS AT CAHP

POSITION: DIRECTOR OF REAL ESTATE DEVELOPMENT

Full Time (40 hours per week) | Lansing, MI

FLSA Classification: Non-Exempt

Reports to: Director of Housing Development

Annual Pay Range: $62,400 - $83,200

TO APPLY

To apply you will need to submit your resume and a brief statement of interest to careers@capitalareahousing.org.

ABOUT CAHP

At Capital Area Housing Partnership, we're on a mission to develop strong and diverse neighborhoods, emphasizing affordable housing, homeownership opportunities, and financial security for our neighbors throughout mid-Michigan.

We envision healthy and vibrant communities reinforced with supportive services and equitable opportunities for upward mobility that empower all our neighbors to lead a sustainable and prosperous quality of life.

Through our comprehensive approach, we are building and rehabilitating multi-and-single family homes, delivering housing and financial education, providing emergency assistance, and engaging communities to revitalize neighborhoods.

Our work is more than bricks and mortar. Housing is an equal right for all, and we remain steadfast in building equitable opportunities and transforming possibilities for people and our neighborhoods.

POSITION SUMMARY

CAHP's Housing Opportunity team works to expand the availability of affordable homes through significant real estate development. The Director of Real Estate Development leads and manages CAHP’s acquisition, development, and operation of multifamily properties. CAHP has ownership interests in 8 such properties (540 apartments) which were supported with federal Low Income Housing Tax Credits (LIHTC). CAHP is in the process of adding 3 more projects (334 total apartments) to its portfolio.

ESSENTIAL DUTIES & RESPONSIBILITIES

Identify and vet possible development opportunities
Negotiate the purchase of properties
Arrange partnerships, where appropriate, with other developers
Submit funding applications
Arrange debt and equity financing
Coordinate and monitor contracts with architects, general contractors, property management companies, and accountants
Monitor project progress, identify and mitigate risks, and ensure the project remains on track and within budget
Conducting market analysis, preparing pro forma statements, and evaluating the financial viability of projects.
Securing necessary financing, including LIHTC, tax-exempt bonds, and other sources
Provide and review documents for financial closings
Monitor construction, including construction draws
Provide reports to funders and other stakeholders
Work with staff members and consultants to monitor the ongoing operation and performance of properties in CAHP’s portfolio
Takes corrective action when problems arise
Works with consultants and attorneys to acquire the investor’s ownership interest
Resyndicate the project to maintain long term quality and affordability

QUALIFICATIONS & SKILLS

Experience in affordable housing development, particularly LIHTC projects.
Strong financial analysis and modeling skills.
Ability to make solid and compelling presentations to funders, planning and zoning commissions, etc.
Ability to prepare and review real estate financial proformas.
Excellent project management and organizational skills.
Initiative and demonstrated sense of urgency.
Effective communication and interpersonal skills.
Knowledge of construction processes and regulations.
Proficiency in relevant software and systems.
Build and maintain relationships with various stakeholders, such as lenders, equity partners, consultants, and residents.
Excellent relationship-building skills and a customer service orientation that leads to sustainable and mutually beneficial external partnerships.
Ability to analyze and revise practices to improve efficiency.
Strong written and verbal communication skills to communicate effectively with staff, volunteers, stakeholders, consumers, community partners and the public in an empathetic, inclusive, and supportive manner.
Professional appearance and courteous manner.
Self-motivated and effective in a team setting and individually.
Proficiency with SmartSheets, DropBox.
Proficiency in Office 365, and general office technology including printers, copiers, scanners, and computers.
Demonstrated belief in CAHP’s mission.

REPORTING RELATIONSHIP

Reports to the Executive Director.

WORK ENVIRONMENT & PHYSICAL DEMANDS

Ability to use office equipment and work sitting in front of a computer for extended periods of time.
Reliable transportation for travel within the mid-Michigan footprint. Use of a personal motor vehicle for transportation requires proof of insurance and the driver must have a valid Driver's license. Must have or be able to obtain Chauffeur’s License, including passing a DOT physical.
Walk moderate distances over rough terrain, climb ladders, inspect crawl spaces, attics, cellars, and work in confined/cramped body positions – including surfaces that may be slippery.
Work in high concentration of dust and sawdust in remodeling sites and newly insulated buildings.
Occasional moderate lifting of supplies and materials.
Requires evening and weekend work on occasion.
Successful completion of a criminal background check.

ANNUAL PAY RANGE

ll the roles within CAHP have pay ranges that commensurate with the knowledge, skills, and abilities of the successful candidate. The annual pay range for this position is $62,400 - $83,200.

DIVERSITY, EQUITY & INCLUSION

Capital Area Housing Partnership is an equal opportunity employer. Applicants are considered for positions without regard to veteran status, uniformed member status, race, color, religion, sex, national origin, age, physical or mental disability, pregnancy, citizenship status, sexual orientation, gender identity, or any other category protected by applicable federal, state, or local laws. CAHP is committed to dismantling systemic inequities that continue to cause harm for Black, Indigenous, and other People of Color (BIPOC), Lesbian, Gay, Bisexual, Transgender, and Queer (LGBTQ+) people, women, and people with disabilities. We believe that these communities must be centered on the work we do. We strongly encourage applications from people with these identities or who are members of other marginalized communities. Together, we will continue to build capacity and accountability in our policies, practices, and partnerships.

WHY CAPITAL AREA HOUSING PARTNERSHIP

CAHP offers a competitive total rewards package including a competitive salary, medical/dental/vision coverage with an employer contribution of 100% towards single coverage and 0% towards dependent coverage effective with the date of hire. In addition, CAHP provides an up-to 3% employer match into a retirement plan each year, and annual incentive-based bonuses. Team members receive 18 days Paid Time Off, and 13 Paid Holidays (averaging 22 days off each year). Paid time off is prorated for the first year.

TO APPLY

To apply you will need to submit your resume and a brief statement of interest to careers@capitalareahousing.org.