Baltimore, MD
Salary Estimate: $75,000.00 - $99,999.00
Employment Type: Full Time
Work Place: Hybrid
Experience Required: 2+ to 5 years
Education Required: 4 Year College
Benefits
Job Description
AHC Inc. is seeking qualified individuals with a strong entrepreneurial drive coupled with intense curiosity and creativity to join its dynamic real estate development team. AHC is actively developing affordable, workforce and mixed-income rental housing in the Washington & Baltimore regions and currently owns over 8,000 apartment units at more than 50 communities. AHC’s Resident Services team provides a wide array of educational programs and social services to help our residents build stronger futures.
About the Team:
The Real Estate Development team offers a fun, fast-paced, environment in which to make a meaningful impact in our community through the creation and preservation of affordable housing. The team is responsible for identifying, acquiring, financing, and constructing/renovating multifamily rental properties. The team utilizes a wide range of affordable and conventional financing tools and partnerships to raise the capital necessary to finance innovative affordable, mixed-use, and mixed-income communities. The continued expansion of the Real Estate Development team provides opportunities for growth and upward mobility.
About the Job:
The Real Estate Development Manager role is broadly defined at AHC. Real Estate Development Managers have substantial autonomy and are responsible for initiating and overseeing the full range of development tasks from initial concept development through entitlement approvals, financing, construction completion, lease-up, and project close-out. Real Estate Development Managers work closely with AHC colleagues in other divisions to ensure alignment of mission and execution.
Primary Responsibilities:
- Generate development budgets and pro forma to evaluate financial feasibility.
- Negotiate with lenders and investors to obtain acquisition, construction, and permanent financing.
- Work with land use counsel, consultant teams, and local jurisdictions to gain approval of land entitlements and/or financial support.
- Coordinate the underwriting and closing process, including document review.
- Present to senior staff, the AHC Board of Directors, community groups and local governments.
- Manage development consultant team members during all phases of development/construction.
- Identify new opportunities and lead efforts to obtain site control.
Minimum Requirements:
- 2 to 4 years' experience developing and/or acquiring multifamily affordable housing.
- Familiarity with the Low-Income Housing Tax Credit and tax-exempt bonds.
- Experience creating development budgets and working with real estate proformas to model complex financial structures.
- The ability to delegate tasks, teach, and supervise less experienced teammates.
- Graduate degree in finance, real estate, urban planning, or other relevant discipline.
- Desire to take ownership of projects while working well within a team environment.
- Ability to juggle multiple, complex projects.
- Strong interest in affordable housing and a passion for creating positive change.
- Knowledge of construction, property operations, and other applicable fields is a plus.
- Excellent oral, written, and interpersonal skills.
- Ability to work independently.
Working at AHC:
AHC has a Hybrid Work Schedule with staff working onsite on our core days (Monday, Tuesday, and Thursday). Staff may work remotely on Wednesday and Friday.
AHC Inc.
• 1-100 employees
AHC is a non-profit, affordable housing developer and service provider with offices in Arlington, Virginia and Baltimore, Maryland. Our growing portfolio of 54 multifamily rental communities provides over 8,300 homes in D.C., Maryland, and Virginia.
Our Mission
Our Mission
The residents of Affordable Homes & Communities are at the heart of all we do. We build opportunity by creating quality homes with holistic resident services. We drive change through innovation, genuine partnerships, and responsible investment.
Our Vision
A world where all people share the same opportunities regardless of income, race or other qualities; where housing is integral to a healthy, welcoming, and equitable society; and where affordable homes are available to all.
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