Real Estate Project Manager - Montgomery Housing Partnership, Inc.

November 29, 2017

Montgomery Housing Partnership, Inc.

Silver Spring, Maryland 20904
http://www.mhpartners.org

Montgomery Housing Partnership (MHP) is seeking a REAL ESTATE PROJECT MANAGER responsible for managing all aspects of real estate development projects.


Montgomery Housing Partnership, Inc. (MHP) is an active and growing nonprofit organization, founded in 1989, that develops, acquires, rehabilitates, and builds quality apartment homes to meet Montgomery County’s growing need for affordable housing.  MHP’s community-based projects and programs includes providing affordable rents, developing educational programs for residents to develop skills that expand their opportunities and balance their lives, and implementing neighborhood revitalization efforts in troubled communities impacted by foreclosures and economic downturn. 

 

Job Summary:

The Project Manager ensures the long-term viability of residential developments by managing all aspects of development including assessing acquisition opportunities, structuring complex financing, hiring and managing consultants and overseeing projects through renovation or new construction, including managing the budgets and draws.  The Project Manager reports to the Vice President or a Senior Project Manager.

 

Primary Responsibilities:

Due diligence, Feasibility and Project Funding: Ensure completion of necessary due diligence to protect the owner and investors.  Design initial program and financing strategy to creatively combine multiple financing resources that ensure long term project viability while being consistent with the development's non-financial goals.  Conduct, review and refine the analysis of overall economic feasibility.  Identify funding opportunities; prepare tax credit, bond and other applications and proposals, and all materials necessary to secure commitments.   Prepare documents for the Board of Directors and its Real Estate Committee.

 

Project Administration and Closing:  Assemble and manage the development team including design and construction consultants.  Negotiate contracts and coordinate team throughout the development process.  Coordinate property acquisitions and closings with funders and attorneys.  Manage permitting and approval process with municipal officials, legal counsel and architects.  Coordinate community and resident processes.  Negotiate consultant, lender and contractor agreements.  Prepare reports required for board, internal management, funders and investors. 

 

Project Construction, Monitoring & Closing: Closely monitor the construction process and push projects to finish on time and within budget.  Work with project team to resolve financial and other issues that arise during this period.  Assure compliance with tax credit, bond and other agreements. Assist accountants in preparing cost certifications.  Provide asset management team with financial closing summary and work with asset management team in addressing any tax-related or post-closing financial or building performance concerns.  Coordinate marketing and lease-up with property management to assist to ensure that occupancy and financial goals and restrictions are met.

 

Other Duties: Update company real estate documents periodically to make sure documents are current, and to take advantage of project learnings. Perform additional project management activities as required to coordinate every phase of development. 

 

Qualifications:

  • Bachelor’s degree in a related field.
  • Minimum two years of direct experience with financing and project management of affordable housing development projects.  Must have the ability to identify and analyze opportunities, understand and design complex deal structures.  Must understand regulatory/approval processes and property operations.
  • Must be skilled in multi-family acquisitions, financing (modeling and applications) and management of the development process.  The goal of the position is to develop a minimum of 100 multi-family units per year and manage multiple projects—both renovation and new construction types.
  • Knowledge of public and private funding programs, including the Low Income Housing Tax Credits and other affordable housing sources, is strongly preferred.
  • Proficiency with design and use of spreadsheet, word processing and presentation software.
  • Strong writing and verbal communication skills.
  • Critical thinking and negotiating skills.
  • Ability to work as a leader and member of cross-disciplinary team.
  • Master’s degree in related field is preferred, but not essential.

 

Compensation: Salary will be based on applicable experience.