Housing Development - Senior Project Manager
Cabrillo Economic Development Corporation (CEDC) develops and manages service enriched, inclusive residential communities, ensuring access to affordable, secure, quality housing that creates the foundation for our residents to grow and thrive.
An industry leader since 1981, CEDC has built 45 affordable housing developments totaling close to 1,700 ownership and rental units. It currently has an ownership interest in 1,137 rental units that it manages. CEDC has an annual operating budget of $6,750,000 and multiple projects in the early stages of development.
Under the direction of the Director of Real Estate Development, performs a wide variety of tasks directly related to the planning, development and advocacy of affordable housing developments from acquisition through construction and occupancy. This position is characterized by a high degree of initiative, responsibility, accountability and ability to work both independently and congenially with a wide variety of individuals, community-based organizations and governmental entities, with minimal supervision.
The CEDC affordable housing division operations are based on the practice of community building principles. The Senior Project Manager in addition to being technically competent, must exhibit strong community facilitation skills. Managers must be able to engage neighborhood residents in cooperative dialogue as part of the process of determining appropriate affordable housing products. While acting as an advocate for “community,” the Senior Project Manager will have primary responsibility for the full range of development activities for selected housing and community development projects, including but not limited to managing new projects as well as the refinance and rehabilitation of existing portfolio on behalf of CEDC.
Our successful Project Managers are knowledgeable in all aspects of affordable housing/real estate development, including the entitlement process and political positioning dynamics. Communication skills are essential in order to represent the project vision to completion while being sensitive to nay-sayers. The ability to multi-task several needs of each project while managing multiple projects and exercising a high degree of independence, motivation and accountability is crucial.
MAJOR DUTIES AND RESPONSIBILITIES:
• Evaluates development opportunities, conducts initial feasibility analysis; creates a development and finance strategy; negotiates purchase agreements; coordinates community acceptance planning. Obtains project financing, including preparing financing applications (TCAC, CDLAC, HCD, HUD, AHP etc.), creating and implementing deal structures, coordinating negotiation of legal agreements for financing, and maintaining knowledge of current financing programs, particularly Low-Income Housing Tax Credits (LIHTC).
• Manage all phases of development including initial financial feasibility analysis, proformas, overseeing design development, securing all necessary financing, procuring and contracting with all third-party consultants.
• Manages development team, including selecting and hiring of design, construction and other consultants necessary to develop the project; coordinates and monitors the work of the professional consultants; ensures work is finished and obtains internal approvals; manages contracts and billing process.
• Manage tasks necessary to obtain entitlements, including neighborhood design meetings, submission of entitlement applications, attendance at public hearings, and on-going coordination of the project design team.
• Manage all aspects of financing developments; identify funding sources and complete loan/funding applications; secure predevelopment, construction and permanent financing.
• Monitors construction process by negotiating construction documents and contracts; monitoring construction progress and resolving conflicts; overseeing draws and monitoring cost and budget to ensure that project schedules and critical development timelines and milestones are met.
• Search, formulate and execute strategy for successful applications in response to Requests for Proposals (RFPs).
• Assists the CFO and the Property Management Director with project transition by preparing documentation with essential project information for ongoing operation. This includes utilizing effective lines of communication for exchange of information necessary during design, construction and lease-up.
• Advocates for affordable housing by making public presentations, participating in community and public policy discussions, including bill analysis and tracking; attending conferences, and staying informed of public policies and laws affecting affordable housing.
• Management/Supervision duties of support staff (Interns or Assistant Project Manager) which include workflow and review of work for accuracy.
• Other duties as assigned.
• A bachelor’s degree in architecture, real estate development, finance, planning or construction management
• Graduate level Degree. Certified Project Manager Professional (PMP) (Preferred)
REQUIRED SKILLS, KNOWLEDGE, AND ABILITIES:
• 5+ years of related experience in affordable housing development
• Must have California LIHTC and CDLAC knowledge and experience. Strong knowledge of key aspects of real estate development and finance, land use and entitlement, property due diligence and acquisition including site planning and design. Experience with all phases of the development process preferred, preferably with at least three projects taken from concept through completion.
• Familiarity with structuring and negotiating real estate development transactions and affordable housing finance including public subsidies, low-income housing tax credits and tax exempted bonds; ability to creatively combine financing tools to leverage housing funds. Experience with acquisition/rehabilitation and portfolio rehabilitation preferred.
• Knowledge of and experience with loan packaging, public and private affordable housing resources, and subsidy programs;
• Ability to initiate and maintain effective and cooperative working relationships with team members, local government agencies, consultants, lenders/investors, and community stakeholders.
• Ability to effectively engage community representatives, including persons with diverse economic and educational backgrounds, in the real estate and community development process.
• Well-organized, detail oriented, and excellent analytical skills; proficiency in sophisticated financial analysis and modeling using MS Excel and with word processing software such as MS Word.
• Strong analytical and problem-solving skills; good client and public presentation skills; and excellent oral and written communication skills.
• An entrepreneurial and creative approach to problem solving in the field of real estate development; enthusiasm and team building spirit.
• State and Davis-Bacon Wage oversight
• Valid California driver’s license and availability of an insured vehicle to travel within CEDC’s service area, which includes Ventura, Santa Barbara and Los Angeles Counties.
• Experience with resident councils or limited equity housing cooperatives (Preferred)
• Sensitivity to the needs and concerns of low-income individuals (Preferred)
• Appreciation/respect of and commitment to the goals of Cabrillo Economic Development Corporation(Preferred)
• Bilingual (English/Spanish) written and verbal. (Preferred)
REQUIRED EDUCATION & EXPERIENCE:
• Any combination equivalent to sufficient experience, training, and/or education to demonstrate the knowledge and abilities listed above.
LICENSES & OTHER REQUIREMENTS:
• A valid California driver’s License and proof of automobile liability insurance.
• State of California Department of Real Estate Broker’s License (Preferred)