DEVELOPMENT MANAGER- REAL ESTATE- AFFORDABLE HOUSING-Boston MA, Hybrid and or Remote Position in the North East.

DEVELOPMENT MANAGER- REAL ESTATE- AFFORDABLE HOUSING-Boston MA, Hybrid and or Remote Position in the North East. 

 

About Conifer: 

Conifer Realty, LLC is a dynamic, vertically integrated organization that creates and manages high-quality affordable and work-force housing.  Conifer is devoted to growth, to innovation and being a best -in -class developer. Visit Conifer's website to understand our history, mission, and values at link: www.coniferllc.com

 

OVERVIEW:

 The Development Manager will assist the Senior Vice President, Development Operations, Senior Development Manager and other Development team members in the development and execution of new multi-family, affordable housing development projects in various regions. The Development Manager will be responsible for researching, due diligence investigations, and acquiring and managing the development process from initial concept through construction. This includes conducting market research, deal sourcing, site and project design, financial preparation of proformas and development budgets to assess the overall optimal financial feasibility and returns of the project and negotiating the economics and structure of the development deal. The Development Manager will manage the infrastructure, land development, building construction for each project and will act as the liaison between the development, the construction and the design teams, as well as external investors, community and state government officials, housing subsidy program representatives, banking and legal representatives, design consultants, architects, civil engineers, and other related partners/customers in the acquisition development process for multifamily, affordable housing projects. 

 

RESPONSIBILITIES:

 • Collaborate with the Senior VP of Development on the visioning and programming of target market, business structure and financial feasibility of new development opportunities, including developing and leading RFQ/RFP deliverables and responses and participating in 

new business development in the designated regions. 

• Research and evaluate economic, demographic, and detailed real estate market data including but not limited to rents, incomes, capture rates, population demographics, etc.. 

• Manage deal sourcing and underwriting efforts, including assisting in decision-making regarding product, mix, parking, and design, ensuring the building design codes are compliant with local, state, and federal laws. 

• Coordinate and manage due diligence investigations, Conducting market research and preparing rental, supply, and sale comparable analyses; Securing construction cost estimates by coordinating with affiliated and 3rd party construction partners; Creating proformas and investment committee and financial packages; making presentations to financial investors for the projects. 

• Research and obtain information regarding all applicable information, policy, procedures and regulations for development activities (i.e. LIHTC underwriting guidelines, permitting fees, market information, etc.) 

• Procure and respond to Housing Authority, State Agencies, and local municipalities RFP’s and RFQ’s for new business opportunities. 

• Review of Multistate Qualified Allocation Plans [QAP] to understand threshold requirements and maximum scoring criteria. 

• Prepare and submit the Pre-Application per the QAP requirements for each state. 

• Prepare responses in writing to State Agencies on any Threshold Clarifications for 9% LIHTC deals and 4% Tax-Exempt Bond deals. 

• Attend and assist in preparation of presentation collateral for all Zoning, Variance, Bond Inducement and Community meetings. 

• Assist in preparation of Project Based Voucher, Tax Exempt Bond, LIHTC applications. 

• Analyze financial feasibility of new development opportunities including capital budgets, operating budgets, cash flow and return on investment calculations. 

• Manage and participate in all zoning, entitlement, and permitting activities for the projects in assigned region. 

• Create project entitlement and development timelines as well as spending predevelopment forecasts. 

• Prepare development and operating budgets in coordination with Asset Management and Property Finance teams. 

• Create, manage, and update project budgets, including monthly updates of project cost through completion on a timely basis for proper reporting. 

• Tracking and reporting progress of finance activity related to all developments within the development pipeline. 

• Coordinate with construction and 3rd party personnel as necessary to meet budget and timing targets. 

• Conduct site visits to each assigned project and review thoroughly the work in place against the approved Plans and Specifications. 

• Financial analysis, including review of relevant term sheets related to state and federal tax credit programs, subsidy loan and grant programs. 

• Real estate tax evaluations. 

• Appraisal review and valuation. 

• Assist in preparation of multi-state affordable housing funding application, construction and permanent loan closing budgets. 

• Review of cost certification submissions and 95-5 calculations. 

• Review all Plans & Specifications for Code Enforcement, ADA, FHA, and other lender requirements. 

• Prepare all documents necessary to complete LIHTC State Agency 100% Construction Completion, Final Inspection and Final Allocation. 

• Coordinate all LIHTC State Agency documents for closing that include 60-Day Submission and Commencement Submission. 

• Coordinate and lead HUD Final Endorsement Closing. 

• Continue with ongoing research and identifying new markets for company expansion. 

• Attend industry and company conferences, with flexibility for travel as projects, meetings are scheduled. 

• Establish and maintain key relationships within State Agency Housing Finance Divisions. 

• Create and maintain Development Department’s underwriting model and related spreadsheets. 

• Other acquisition, construction development-related duties and projects as assigned. 

 

EXPERIENCE: 

• Minimum 4-5 years’ proven experience multi-family real estate development, preferably in affordable housing [LIHTC, HUD, other state/county funding's], including developing and managing construction and budgets, in-depth knowledge of regulatory requirements, 

approvals and authorities related to development of apartment communities. Must have experience in overseeing third-party contractors and vendors, both from a cost and quality standpoint. 

• Experienced in analyzing finance documents such as loan term sheets, financial statements, appraisals, market studies, government regulation agreements. 

• Ability to read and interpret complex documents (loan documents, construction agreements, organizational documents, others). 

• Strong MS Office software skills, including high proficiency in Excel skills. 

• Excellent analytical skills. 

• Ability to analyze qualitative and quantitative information and translate into strategic deliverables. 

• Demonstrated Pro forma modeling experience in development and / or acquisitions. 

• Experienced in creating and presenting projects to investment teams in order to “close the deal.”

 

EDUCATION:

•Bachelor’s Degree in Business, Engineering, Architecture, Urban Planning, Real Estate Development, Construction Management, Economics, Public Policy, or related field preferred; or equivalent some college with housing development work experience.

•High School Diploma/GED equivalent required. 

 

Conifer Realty is a professional, service-oriented organization offering a competitive salary commensurate with experience, along with excellent benefits that include ongoing training, promotion from within, paid holidays, paid time off (PTO); 401K with company match; medical, HSA, dependent care Flex account, dental, vision; company-paid life, short and long-term disability insurances; and a wellness program. 

 

APPLY TODAY via our website link:   to complete our application process and attach your resume.  You will hear directly from the hiring manager on next steps in the process. Thank you for your interest in joining the Conifer Team!

 

The salary for this position is $110,000. The actual compensation may vary depending on a wide range of factors, including experience, skills, qualifications, certifications, location, etc. This range does not include additional forms of compensation such as bonuses.

 

Conifer Realty LLC is an Equal Opportunity Employer and does not discriminate on the basis of any legally protected status or characteristic. Minority/Female/Sexual Orientation/Gender Identity/Disability/Veteran.