McDowell Housing Partners is looking for a Director of Development to join our growing team. The Director of Development plays a pivotal role in the organization's mission to provide high quality affordable housing for families and seniors. This position leads projects and manages development staff, with a high degree of autonomy. The Director of Development will work on the full breadth of the project development process from site selection through due diligence, financial underwriting, construction and lease-up.
Qualifications & Requirements: • A minimum of four years ofexperience is required in real estate development and/or real estate project management in a discipline such as planning, civil engineering, architecture, construction or another related field. • Prior LIHTC experience is STRONGLY preferred. • Requires a high-level of critical thinking, self-initiative, multi-tasking, and an overall entrepreneurial spirit. Must have the ability to multitask and meet deadlines in a fast-paced environment. • Must be able to utilize creativity and resourcefulness to resolve issues that arise during the development process. • Must be a team player with the ability to build and maintain relationships and rapport with local governments, vendors, industry professionals and your peers throughout the organization. • Must have proficiency with Microsoft Excel, Word, and Power Point with the ability to learn and implement new software and technologies quickly. • A master's degree is preferred but a bachelor's degree with experience in real estate project management, civil engineering, construction, urban planning and architecture will be considered.
General Responsibilities: • Direct and take accountability for the complete development process, including seeking and analyzing new development and partnership opportunities, feasibility analysis, financing applications, financial underwriting and closing, due diligence, contract solicitation and negotiations, permitting and entitlements, and lease-up coordination. • Analyze competitive funding solicitations (RFP/RFQ, NOFAs, etc.) for workforce and affordable housing development opportunities and work with the acquisitions team in the preparation of comprehensive applications. • Conduct market and project specific research (i.e. rent/income rates and trends, operating expenses, occupancy rates, utility allowances, unit size/mix demand, etc.) to structure the development programming and establish a proforma operating budget. • Solicit and negotiate contracts with vendors and design professionals including, but not limited to, surveys, geotechnical reports, market studies, appraisals, environmental reports, specialty engineering contracts, etc. • Manage the design process with internal design, construction and development team members, as well as external architects, planners, engineers, and interior designers. • Develop and refine detailed development budgets and critical path timelines covering the development process from feasibility through stabilization of the asset. • Lead the internal and external design and development teams in securing project entitlements and public approvals such as zoning, site development, and building permits. • Process and track development sources and uses with the project finance and accounting teams during the pre-development and construction phases. • Establish and maintain rapport with financial partners, local governments, public housing authorities, housing finance corporations, community redevelopment agencies, community/neighborhood organizations, and other project stakeholders. • Identify and track potential issues and challenges in the development process, quantify the risk/impact, and provide solutions. • Deliver clear and concise reporting on the status and progress of projects under management. • Other tasks and responsibilities, as may be assigned by MHP management.
Company Overview:
McDowell Housing Partners is a preeminent affordable/workforce housing development company and is an affiliate of McDowell Properties, a national multifamily investor and operator of apartment communities. Collectively, the companies have developed, constructed, and acquired over 45,000 apartment units. McDowell Housing Partners was established in 2019 and has already achieved AHF Top 50 Affordable Housing Developer status based on unit production.
McDowell Housing Partners' mission is to be a best-in-class multifamily platform for its investors, lenders, community stakeholders and residents. The organization's culture is based on the values of integrity, excellence, and ingenuity with a team approach.
McDowell Housing Partners' senior management team has decades of experience in multifamily development and investing. The organization utilizes a vertically integrated team structure with dedicated Acquisitions, Development, Construction, Finance, Accounting and Asset Management teams. The McDowell companies are diligently focused on creating long-term value through their core competencies which include, but are not limited to, LIHTC development, acquisition and value-add rehab, strategic partnerships with local governments and non-profits, efficient navigation of capital markets, creative financial structuring, skillful design and construction management, and diligent asset management.
Compensation
McDowell Housing Partners offers a competitive compensation package, including a base salary commensurate with experience, performance-based bonuses, and comprehensive benefits. The salary range for the Director of Development role is $125,000 to $160,000, depending on qualifications and experience. Additionally, the Director will have the opportunity to participate in the financial upside of the deals they manage, further aligning incentives with the success of the projects. Other benefits include health insurance, 401(k) retirement plan contributions, paid time off, and opportunities for professional growth and career advancement within the company.