Jobs

Job Posting

Go Back

Job Title : Director of Housing Development (Services for the Underserved)
Date Posted : October 16, 2018
Type :

Description :

 Position Summary and Responsibilities:  The Director of Housing Development is responsible for the successful acquisition, financing, construction and opening of all new permanent congregate housing at SUS. 

Background:

Service for the Underserved, Inc. (SUS) is a dynamic and growing social service and housing agency with 40 years of service to the most vulnerable residents of New York City. SUS is seeking to hire a Director of Housing Development to oversee the Real Estate Development Team. This is an exciting time for the Team, as, over the next 24 months, SUS will begin construction on more than 700 units of permanent affordable housing (low income and supportive). SUS is among the two largest providers of supportive housing in New York State, and among the largest nationally.

The Director will have the expertise and experience in affordable housing development to manage a small team of real estate professionals and oversee projects from land acquisition, joint development negotiation, pre-development financing and design development, public approvals, ULURP, construction financing, construction management, building opening, leasing and converting to permanent financing.  The work will focus on new construction of supportive and affordable housing both independently and with various development partners. The Director will also oversee the recapitalization and rehabilitation of a portfolio 5-7 existing LIHTC properties which will be going through the Year 15 exit of their investors.

Job Responsibilities:

  • Assist the SVP in identifying new joint ventures and potential land acquisitions for permanent housing development;
  • Research and identify funding sources and develop financing strategies to develop housing;
  • Stand in for SVP as necessary at internal meetings, meetings with public officials, etc.;
  • Work with SUS service programs to select appropriate transactions, service funding mechanisms (ESHI v. NYC 15) and deal structures;
  • Develop pro forma capital development and operating budgets and financing applications for HPD, HDC, HCR, HFA, HHAP, FHLB, HUD, which incorporate many different sources of financing;
  • Coordinate the submission of due diligence to government agencies, lenders and investors;
  • Coordinate and lead SUS responses to Requests for Proposals and Requests for Qualifications;
  • Coordinate construction loan closings, cost certifications, permanent loan closing process and 8609’s;
  • Work with service program teams and property management to coordinate the opening of new buildings and various policies and procedures related thereto;
  • Supervise and/or serve as project manager and submit requisitions during construction;
  • Complete paperwork and submissions required for conversion to permanent financing and receipt of 8609;
  • Assist SVP and Asset Management group in tracking developer fee receipts and milestones;
  • Assist SVP, CFO and Asset Management group in evaluating property performance and implementing changes necessary to improve property performance; and
  • Assist SVP in developing appropriate housing development metrics and reporting on same to SUS executive team.

Essential Skills, Experience, Licensure, Certification:

Qualifications:   

  • 10+ years of excellent performance developing affordable and/or supportive housing receiving low income housing tax credits (LIHTC) and various rental subsidies (Section 8, NY/NY III, ESHI, NYC 15);
  • Bachelor’s degree (Masters in a related field is preferred);
  • Passionate about the SUS mission generally and provision of supportive housing in particular;
  • Ability to work independently or as part of a team
  • Understanding of low income housing tax credits (9%) and 4% (bond financing);
  • Highly organized, detail oriented and self-motivated;
  • Ability to manage other experienced professionals in a high paced dynamic atmosphere;
  • Ability to generate pro forma development and operating budgets utilizing Microsoft Excel; and
  • Excellent written, oral and email communication skills.

General sign-off:  The employee is required to:  

 Adhere to SUS’ policies and procedures;

  • Perform duties as workload necessitates;
  • Communicate regularly with supervisor about department issues;
  • Demonstrate flexible and efficient time management and ability to prioritize workload;
  • Perform work activities requiring negotiating, instructing, supervising, persuading or speaking with others; and
  • Respond appropriately to developmental feedback from supervisors and colleagues.

To apply send cover letter and resume to: Achase@sus.org



PHP FormMail Generator - A free tool to create ready-to-use web email forms with file upload, auto-response email, and dependent dropdowns.
Subscribe for   Newsletter