Founded in 2004, PIRHL is a full-service, developer, general contractor and owner of affordable and workforce housing. PIRHL’s approach leverages deep expertise in acquisitions and asset management, development and construction with strategic financial and local partnerships. To date, PIRHL has developed over 70 properties, 7100 units of real estate (including both new and renovation), serving the Midwest, Mid-Atlantic, and Southeast regions of the United States.
PIRHL’s Mission: We bend the forces of the universe to create transformational, affordable and sustainable communities that help stabilize the lives of our residents.
**This position has the possibility of being remote. Preference will be given to candidates located in Chicagoland.**
The Development Project Manager (DPM) quarterbacks select real estate projects through the critical path to closing by managing the review of due diligence and financial underwriting, the land entitlement process, design-development, and financial closing. Projects will involve both the acquisition and substantial rehabilitation of existing large-scale apartment buildings and the new construction of multifamily and senior developments.
The DPM will provide oversight during tenant relocation, construction and lease-up and have responsibility for the project through stabilization and its conversion to permanent financing. A DPM has a proven track record of successfully leading and closing out critical paths for at least three residential multifamily real estate transactions financed with Low Income Housing Tax Credits. A DPM is a strong leader and successfully collaborates with team members from construction, finance and accounting, and asset management. A DPM has fluency in the major technical disciplines underpinning the critical path of a project from award through financial closing, and closeout after construction is completed.
The DPM manages each project through the lens of the project proforma, with a strong understanding of the various budgets and key financial levers that affect each transaction. The DPM works in a constant state of urgency and has the communication skills necessary to manage multiple internal and external stakeholders to positively affect their respective contributions to the critical path.
Essential Duties and Responsibilities: (Must be able to perform the essential functions of this position with or without reasonable accommodation.)
- Support the Vice President of Development (VPD) in the review and due diligence of new real estate development opportunities, as requested.
- Lead and manage the rehabilitation and/or new construction of multifamily residential development projects from financial award through stabilized occupancy; lead and manage PIRHL’s team of professionals and partners, municipalities, joint venture partners, contractor, civil engineer, architect, technical consultants, partnership attorney, lender, investor, and others to stated timeline.
- Negotiate contracts with third-party professionals associated with the project.
- Proactively manage project budgets, critical path timelines, schedules, and milestones to stated goals.
- Partner on PIRHL’s design development process with all construction, design and engineering partners, from schematics through permitting and construction sets.
- Prepare, represent, and present the project at each stage of PIRHL’s Investment Committee, according to prescribed and exacting standards and inputs.
- Make presentations to clients, municipal planning commissions, city councils, board of zoning appeals and others as necessary to further a project.
- Continually identify and pursue sources of gap financing for a project; work with PIRHL’s finance staff to underwrite a project and define a mutually agreed upon structure for debt, equity, and soft funding sources; lead the project team to achieve financial closing on all sources of funding on a project.
- Manage assigned portions and line-items of PIRHL’s internal project proforma in conjunction with the DPM and finance professionals.
- Help to ensure the paid developer fee is consistent or better from finance closing to construction completion.
- Bachelor’s degree with a focus in real estate, finance, civil engineering, architecture, or another related field preferred.
- MBA or similar graduate experience is a plus.
- At least 5 years direct work experience in large-scale multifamily development.
- Affordable housing development experience is a plus. Experience working with public housing authorities, HUD, subsidy programs, and the Rental Assistance Demonstration program is a plus.
- Successfully led at least 3 multiple multifamily residential transactions financed with Low Income Housing Tax Credits (LIHTC) from conception through its completion and stabilization.
- Demonstrated experience with driving a projects critical path with third-party consultants through land entitlements, design development, and project financing.
- Background with rehabilitation projects, relocation of tenants, and knowledge of HUD financing requirements preferred.
- Experience managing real estate development through the proforma: intimate understanding of capital budget, operating budget, flow of funds.
Skills and Abilities:
- Natural leadership of cross functional team along a critical path.
- Proven alignment with and a clear and present track record of successful collaboration, accountability and at least five years of leadership experience.
- Ability to manage a real estate development through the proforma; growing understanding of capital budget, operating budget, flow of funds, etc.
- Strong organizational and time management skills
- Self-motivated with the ability to work independently
- Proven ability to effectively manage multiple projects simultaneously and to meet required deadlines
- Must be able to thrive in a highly collaborative entrepreneurial environment
- Strong oral and written communication skills; strong presentation and process management skills.
- Working knowledge of Microsoft Office products and related software.
Physical Working Conditions:
- Office environment.
- Ability to travel during various phases of development.
Physical Effort Required:
- Light physical effort may occasionally be required by handling objects up to 20 pounds.
Be prepared to submit your cover letter and resume when you apply online. We are not accepting third party submissions.
PIRHL is committed to equal employment opportunity. Visit the website for our complete Equal Employment Opportunity statement.
This job is no longer active.