Senior Director of Real Estate Development

Job title: Senior Director of Real Estate Development

Company: Project for Pride in Living

Job description: Accepting Applications until the position is filled.Who We AreProject for Pride in Living, Inc. (PPL) is a nonprofit organization dedicated to empowering low-income people to become self-reliant through integrated services. When joining PPL, you become a part of a diverse team whose person-centered approach to services ensures individuals and families receive the housing and ecosystem of support they need to achieve greater stability now and for the next generation. We are eager to welcome new team members dedicated to serving our residents and pursuing our mission to build the hope, assets, and self-reliance of individuals and families who have lower incomes by providing transformative, affordable housing and employment readiness services. PPL strives to be an equitable and inclusive organization committed to elevating the voices of the communities we serve that are disproportionately affected by systemic inequities.Job SummaryThe Senior Director of Real Estate at Project For Pride In Living (“PPL”) is responsible for providing strategic direction and financial oversight of all of PPL’s real estate development activities. This position will provide direction to and supervision of a team of housing project managers to achieve PPL’s mission and strategic direction around affordable housing development and implementation of community development goals. This position will provide guidance on project funding opportunities and cycles, which will include a background in Low-Income Housing Tax Credits (“LIHTC”) financing and other affordable housing funding sources. This position is a key member of the Housing Stability Leadership Team that includes the Director of Asset Manager, Senior Director of Resident Services, and Senior Director of Property Management.Essential Duties and Responsibilities: These duties are not to be construed as exclusive or all-inclusive.Pipeline Development:

• Prospect and cultivate development opportunities.
• Ensure the pipeline aligns with PPL’s strategic direction.
• Evaluate the feasibility and suitability of sites for future development.

Project Oversight:

• Monitor, support, and direct project managers through all phases of project planning and management.
• Oversee concept definition, site selection, market research, acquisition, financial structuring, design, application processes, problem-solving, closing, and construction oversight.
• Ensure projects remain within established timelines and budgets.

Relationship Management:

• Cultivate and maintain institutional relationships with nonprofit partners, government agencies, neighborhood groups, investors, funders, and limited partners.
• Ensure completion of required reporting alongside the VP of Real Estate Development and Asset Management.

Departmental Management

• Set strategic direction for all real estate development activities in alignment with PPL’s mission and goals.
• Foster an inclusive departmental culture and create annual departmental plans.
• Oversee individual work plans, set expectations, manage performance, and ensure accountability.
• Develop and manage the departmental budget and monitor cash flow.
• Collaborate with the Housing Stability Leadership Team to align development goals with PPL’s broader mission.

Race Equity Implementation:

• Promote a culture within the Real Estate Department that supports PPL’s race equity goals.
• Ensure project management staff have individual learning plans for growth.
• Align department programmatic goals with the organization’s broader commitment to race equity.

Project Financing:

• Identify and secure project financing, including loans, grants, tax credits (e.g., LIHTC), and other subsidies.
• Develop comprehensive financial models and proformas to evaluate project viability.
• Negotiate and structure financing agreements with lenders, investors, and public agencies.

Construction Oversight:

• Provide leadership during pre-development and construction phases.
• Oversee architects, project engineers, contractors, and consultants.
• Manage the permitting and entitlement process with local government agencies.

Risk Management:

• Ensure compliance with local, state, and federal housing regulations.
• Monitor ongoing project operations to maintain long-term financial sustainability.
• Communicate proactively to manage potential risks.

Organizational Management:

• Coordinate with PPL departments to ensure seamless program integration.
• Work closely with the Finance Department, Director of Asset Management, and Senior Directors of Resident Services and Property Management.
• Participate in PPL’s Management and Leadership Teams and other organizational committees.

Communication, Reporting, and Accountability:

• Ensure key project milestones receive leadership and board approval.
• Participate in PPL’s internal Predevelopment Committee and Board’s Housing Management and Development Committee.
• Communicate project updates, including changes, victories, and setbacks, to organizational leadership.

Organizational Representation:

• Represent PPL in external committees, industry trade organizations, and speaking engagements.

Leadership & Team Development:

• Mentor Project Managers and junior Real Estate Development team members.
• Foster a collaborative and mission-driven culture that supports affordable housing and community development.
• Other duties as assigned.

Supervisory Responsibilities:Will be responsible for managing Project Managers and creating an accountability and reporting structure for the Real Estate Development project management team.Minimum Requirements:

• Strong knowledge of real estate development, with at least four (4) years of experience working in affordable housing development.
• Demonstrated commitment to race equity.
• Demonstrated familiarity with and understanding of affordable housing financing programs, including Low-Income Housing Tax Credits, Housing Infrastructure Bonds, Tax Increment Financing, and other capital subsidy programs administered by Minnesota Housing and local governmental entities (including county and cities), understanding of rental support and operating subsidy programs.
• Advanced strategic thinking skills, including the ability to chart direction and creatively adapt as conditions change.
• Demonstrated experience in completing projects or initiatives with partners.
• Excellent negotiation skills, including experience negotiating the acquisition of land and successfully negotiating with lenders, investors, funders, and partners.
• Excellent communication skills, including both verbal and written.
• Strong supervisory and staff development skills.
• Proficient in spreadsheet and word processing software.
• Must have a valid Minnesota driver’s license and ability to drive to inspect sites.

Education and/or Experience

• BA/BS degree in Architecture, Construction Management, Real Estate, Finance, Housing or a related field (additional education may substitute for experience).
• Seven (7) plus years of experience in real estate development and/or finance, including the development and/or financing of affordable housing.

Salary:$125,000 – $155,000/yr. DOQDue to the nature of this role and the need for onsite support and coverage, this is an in-person position.Benefits Based on Eligibility:Employer-sponsored health & dental insurance; employer-paid short & long-term disability insurance, life insurance, and paid parental leave. Voluntary life insurance; Health Savings Account (HSA) or Flexible Spending Account (FSA); PTO & Paid Holidays; 403(b) retirement plan with employer match; summer half-day Fridays; an impactful presence in an organization that makes a difference in many lives.How to Apply: Please include a cover letter and resume. Our hiring process includes phone screens and in-person interviews, references, and background checks for final candidates. PPL strives to be an equitable and inclusive organization committed to elevating the voices of the communities we serve that are disproportionately affected by systemic inequities. Persons of color, women, members of the LGBTQ community, veterans, and individuals with disabilities are strongly encouraged to apply.PPL is an EEO/AA employer. Applicants will receive consideration for employment regardless of their race, color, creed, religion, national origin, sex, sexual orientation, disability, age, marital status, or status with regard to public assistance.PPL participates in the federal E-verify program to confirm all newly hired employees’ identities and employment authorization.In compliance with the Americans with Disabilities Act, the organization will provide reasonable accommodations to qualified individuals with disabilities and encourage prospective and current employees to discuss potential accommodations with the employer.

Expected salary: $125000 – 155000 per year

Location: Minneapolis, MN

Job date: Thu, 13 Feb 2025 04:00:52 GMT

Apply for the job now!

[ad_2]