Senior Vice President, Real Estate Development Job at Way Finders
Senior Vice President, Real Estate Development
Are you interested in work that makes a difference in the lives of others? At Way Finders, we light pathways and open doors to homes and communities where people thrive. Way Finders is the largest affordable housing organization in western Massachusetts. Since 1983, our Real Estate Division has transformed neighborhoods through the design and planning of new housing and the acquisition and renovation of existing properties. The most recent additions to our portfolio of affordable housing for low-income families include Live 155 and The Lumber Yard in Northampton and Library Commons in Holyoke.
Way Finders currently has an exciting leadership opportunity in our Real Estate Development (RED) department. We are looking for a Senior Vice President, Real Estate Development. The SVP RED will lead a dedicated team that oversees all aspects of real estate development, including affordable rental, homeownership, and mixed-use development, and advances projects to meet the organization’s mission while respecting financial goals. Supported by a team of project managers, the SVP will lead the identification and pursuit of new development opportunities and manage the current development pipeline through site identification, acquisition, due diligence, financing, closing, construction, and transfer to property management operations. The SVP will also serve as a key member of the organization’s executive leadership team, working closely with other senior leaders to shape and advance the organization’s vision and strategy.
Wage between $120,000 - $155,000 per year depending on qualifications, with future opportunity for incentive pay. Interested applicants must submit a cover letter and resume; applications will be accepted until the position is filled.
Responsibilities include:
Housing & Real Estate Development
Are you interested in work that makes a difference in the lives of others? At Way Finders, we light pathways and open doors to homes and communities where people thrive. Way Finders is the largest affordable housing organization in western Massachusetts. Since 1983, our Real Estate Division has transformed neighborhoods through the design and planning of new housing and the acquisition and renovation of existing properties. The most recent additions to our portfolio of affordable housing for low-income families include Live 155 and The Lumber Yard in Northampton and Library Commons in Holyoke.
Way Finders currently has an exciting leadership opportunity in our Real Estate Development (RED) department. We are looking for a Senior Vice President, Real Estate Development. The SVP RED will lead a dedicated team that oversees all aspects of real estate development, including affordable rental, homeownership, and mixed-use development, and advances projects to meet the organization’s mission while respecting financial goals. Supported by a team of project managers, the SVP will lead the identification and pursuit of new development opportunities and manage the current development pipeline through site identification, acquisition, due diligence, financing, closing, construction, and transfer to property management operations. The SVP will also serve as a key member of the organization’s executive leadership team, working closely with other senior leaders to shape and advance the organization’s vision and strategy.
Wage between $120,000 - $155,000 per year depending on qualifications, with future opportunity for incentive pay. Interested applicants must submit a cover letter and resume; applications will be accepted until the position is filled.
Responsibilities include:
Housing & Real Estate Development
- Lead and oversee RED staff in all aspects of development, including:
- Actively build relationships with partners and stakeholders in the community to continually develop a robust pipeline of potential projects
- Locate and acquire viable development sites, working with Legal staff to negotiate on behalf of the organization
- Lead the team’s identification and evaluation of potential new opportunities, incorporating analysis of community need, internal expertise/resources, the current portfolio, and risk tolerance; respond to potential new opportunities via Requests for Information (RFI), Requests for Proposal (RFP), and other professional methods in a timely manner
- Complete thorough financial analyses and due diligence for potential projects, including land use and zoning analysis; identifying permitting, environmental remediation or other site-specific risks or needs; securing any preliminary engineering or architectural plans that are needed; and developing financial feasibility analyses and proformas, including determining funding sources and developing ongoing operating budgets
- Oversee project management team in securing project financing; construction and permanent closings; and transition of projects to Property and Asset Management (P&AM) team
- Develop and maintain strong relationships with government funding agencies and other capital providers
- Identify, interview, select, and supervise consultant and contractor teams as needed through the development process
- Work closely with internal Legal, Fiscal, and P&AM staff to evaluate and advance projects; and Marketing/Communications and leadership on external engagement with local and regional elected officials
- Lead staff in preparing recommendations to senior leadership for advancing projects; present projects and requested actions to Board as necessary
- Steward and deploy the organization’s development capital fund (DCF) for acquisition and predevelopment
Administrative and Other
- Develop the department’s annual administrative budget and business plan; regularly monitor performance
- Design and implement systems to identify and measure key metrics, consistent with organizational and department goals
- Working with senior leadership, design or revise department policies and procedures in line with principles of equity and broader organizational goals
- Demonstrate commitment to advancing the tenets of a diverse, equitable, and inclusive workplace through trainings, openness to discussion/feedback, and self-awareness
- Identify and inform leadership of any matters that may adversely affect a project or the organization
- Remain current on real estate development trends and recommendations, especially through the lens of community-building and affordable housing
Supervisory responsibilities include:
- Hire new/replacement staff in an efficient and equitable manner, following recruiting process guidelines; provide proper support and mentoring to supervisory-level employees to ensure they take ownership of their own hiring needs
- Evaluate and provide timely feedback to staff on performance-related matters; assess staff members’ strengths and developmental needs; implement performance plans to ensure the development and/or maintenance of necessary skills
- Those directly and indirectly supervised includes:
- Senior Project Managers, Project Managers, Executive Assistant, Associate Project Managers
- Oversee and direct the work of external consultants as needed
Hiring Requirements/Preferences
- Master’s degree in a relevant field; commensurate experience may be substituted for a degree
- 7 years’ experience in real estate development, particularly affordable rental projects; experience with affordable homeownership, mixed-use, mixed-income and green projects preferred
- Extensive knowledge of and experience with using Low-income Housing Tax Credits, Historic Tax Credits, New Market Tax Credits, tax-exempt bonds, other state/federal capital programs, public subsidies, philanthropy, and other debt, equity, and funding sources
- 3 years’ experience in comprehensive economic and community development and finance
- Extensive knowledge of all phases of residential and commercial real estate development including initial feasibility analysis, local permitting, design/construction, complex finance structuring, project management and coordination
- Demonstrated ability to evaluate opportunities and risks in expanding a real estate portfolio
- Strong ability to negotiate complex transactions
- Exceptional leadership, management, and mentoring skills, with experience in building strong teams and managing multiple reports working on multiple projects in a fast-paced environment
- Proficiency with Microsoft Office applications (including Excel, Project and PowerPoint), and comfort learning new technologies
- Advanced organizational skills with a high degree of accuracy and attention to detail, plus the ability to reprioritize to meet multiple deadlines in an often time-sensitive environment
- Excellent interpersonal and collaborative skills with the ability to serve diverse populations and work appropriately with confidential information
- Exceptional communication skills (both written and verbal) with a wide variety of audiences, including the ability to make compelling presentations in large-group settings
Way Finders seeks a diverse staff to reflect our community and those we serve. Qualified individuals from diverse backgrounds are strongly encouraged to apply. Please indicate in your cover letter how your qualifications have prepared you for this role!
Way Finders is an Equal Opportunity Employer that seeks a diverse staff in order to reflect our community and those we serve. Qualified individuals from diverse backgrounds are strongly encouraged to apply. This position is available to all without regard to race, color, religion, national origin, disability, age, gender or gender identity, sexual orientation, political affiliation, or veteran status. We provide reasonable accommodation for qualified individuals.
Way Finders is an Equal Opportunity Employer that seeks a diverse staff in order to reflect our community and those we serve. Qualified individuals from diverse backgrounds are strongly encouraged to apply. This position is available to all without regard to race, color, religion, national origin, disability, age, gender or gender identity, sexual orientation, political affiliation, or veteran status. We provide reasonable accommodation for qualified individuals.
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