DIRECTOR OF REAL ESTATE DEVELOPMENT

HOUSING COMMISSION - DIRECTOR OF REAL ESTATE DEVELOPMENT

Pay Rate Information = $87,900 to $105,000 (offer will be commensurate with experience)

The Director of Real Estate Development is responsible for building and leading a development team and assuming responsibility for the successful completion of development projects from inception through financing, construction completion and lease-up/sales. Responsible for creating a vision and implementing strategies to maximize the impact of the City affordable housing millage, while ensuring community and mission-driven goals are met, including a focus on long-term sustainability, meeting appropriate development standards, and maintaining the values of the organization. 

Duties

Duties are performed under the direct supervision of the Ann Arbor Housing Commission Executive Director, or designee, and may include the following:

Essential Duties:

• Initiate, undertake and oversee real estate development projects; project management activities include: site selection, due diligence, land assemblage, acquisition, feasibility analysis, site planning, entitlements, permitting, selection of project team, consultants and owners rep, coordination with project development partners, finance structuring, construction and lease-up/sales.
• Obtain financing for projects including grants, loans, tax credits and other subsidies. Prepare funding applications, negotiate financing agreements and lead real estate closings.
• Secure bids for professional services, enter into contracts and supervise performance of project partners such as, general contractors, architects, surveyors, geotech, soils engineers, etc.
• Oversee the construction process including preparation of requisitions and draw requests, collaborating with the Finance department and accounting firms regarding cost certifications, and leading project closeout.
• Coordinate with property management and sales team during development period; assist with transition to lease-up/sales and conversion.
• Cultivate relationships within the affordable housing and aligned industries to enhance overall agency capacity and partnerships to develop permanent supportive housing, senior housing, and mixed-income housing
• Establish strong, professional relationships with funders, local governments, the design/construction industry, and other partners; attend meetings with state/local organizations.
• Research and identify additional and new ways to finance affordable housing and/or make affordable housing operationally sustainable. Identify, develop, and implement new strategies for financing projects.
• Manage development staff and ensure a productive environment with opportunities for their development and professional growth.
• Ensure continuous communication to keep the Executive Director and other key team members informed of critical issues.
• Effectively communicate with the Board, keeping them apprised of project process, issues as they may arise, and opportunities to enhance community engagement as related to the project or agency.

Knowledge of: (position requirements at entry)

• Complex financing of affordable housing development projects including LIHTC, tax-exempt bonds, HUD programs, and other affordable housing finance tools
• State and local land use planning, zoning and entitlement processes
• Selection and management of developers for housing projects
• Procurement related to development including bid documents, contracts, draws, and change orders
• Grant writing, fund development and fund management
• Fair Housing, ADA and Section 504 laws
• Contemporary principles and best practices of personnel management and supervision
• Computers and software applications used in business settings (e.g. word processing, spreadsheets), including workflow management software systems
• Outstanding customer service principles and practices
• Budget development and public sector financial practices
• Human resources and cultural competency

Skills and Ability to: (position requirements at entry)

• Creatively and proactively develop new ideas, take risks, and take bold actions
• Effectively negotiate and protect the interests of the Commission, the City of Ann Arbor and residents served by the Commission
• Demonstrate well-developed organizational and time management skills
• Demonstrate high-level customer service skills
• Demonstrate success in building consensus among parties with conflicting goals
• Attention to detail with a results-oriented mindset
• Collect, understand, synthesize and present complex information that is readily understandable
• Provide services to low-income, elderly, homeless and persons with disabilities
• Communicate tactfully and positively with the public and employees
• Solve problems using appropriate tools and techniques
• Use and understand office information technology
• Strong personal and professional integrity and ethics

Education, Training and Experience: (position requirements at entry)

Required:

• Bachelor’s degree
• Minimum of 7 years progressively responsible experience in real estate development including affordable rental housing finance and development experience
• Minimum of 4 years of supervisory experience

Preferred:

• Experience in real estate development in Michigan
• Experience with tax-exempt bond financing, 4% & 9% LIHTC financing
• Experience working in a union environment

Licensing Requirements: (position requirements at entry)

Have or be able to obtain Housing Development Financing Certification (National Development Council or Equivalent Certification) within 2 years of hire.