Position Description The Vice President of Real Estate Development is the executive in charge and responsible for all aspects of the real estate development process for the organization. It includes the acquisition, financing and rehabilitation of affordable housing projects and sustaining existing projects. Development activities include helping to identify and assess purchases or development proposals, analyzing housing needs and identify areas suitable for affordable housing development, assess project feasibility, perform due diligence, assemble the necessary financing using a variety of public and private sources, and oversee design and construction services. This position will work closely with outside agencies, tax credit syndicators, the District Government, and assist in and oversee the preparation of funding applications to these and other entities. This position will serve as a liaison with asset management and property management functions regarding building turnover and stabilization; and supervises the work of the Development Associate and a host of external consultants. Specific Duties
Oversees the life cycle of the real estate pipeline
Manages production of applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewal
Prepares and analyzes pro-forma financial spreadsheets, income statements, project development and operating budgets and other relevant financial analyses of low-income housing and other real estate developments.
Coordinates underwriting and due diligence with lenders and investors
Works with counsel to negotiate all real estate transaction related documents, including purchase and sale documents, loan documents, equity investment agreements, and operating agreements of all types
Responsible for the management of day-to-day project activities to meet project schedule, quality, and budget objectives
Responsible for the overall performance of contractors and subcontractors
Initiates and administers bid process for selection of Architects, General Contractors and other project professionals
Monitors project safety and enforces company standards with all onsite personnel without exception to ensure the project is safe for all workers and visitors
Coordinates delivery of cost certifications, production of 8609's, and other close out items
Meet with Executive Staff at Jubilee, other Jubilee staff, employees of other public agencies, consultations, and employees of private organizations as required to share information, resolve problems, agree upon courses of action, or to otherwise arrive at appropriate processes to create acceptable outcomes.
Coordinate with the Chief Financial Officer; and directors of Asset Management, Property Management, and Maintenance across the lifecycle of development projects and in evaluating the existing portfolio for reinvestment.
Efficient working knowledge of MS Office and real estate data subscription services, strong underwriting skills and knowledge of affordable housing financial pro-forma modeling systems.
Ability to obtain market and demographic information and analyze that information.
Ability to read, analyze, and interpret reports, technical procedures, real estate financing documents and contracts, and governmental regulations.
Strong attention to detail.
Ability to effectively manage and oversee work of others and hold them accountable, enforcing performance improvement plans when necessary.
Ability to work independently and cooperatively; demonstrate professionalism, diplomacy and flexibility in a variety of situations.
Ability to communicate effectively verbally and in writing.
Ability to organize multiple complex tasks and schedules.
