Director, Real Estate Development

Our Client, one of the largest and most respected nonprofit housing development and management organizations in the western United States, develops low-income multifamily housing, manages more than 222 properties throughout California and Hawai'i, and plays a leadership role in local, regional, and national housing advocacy efforts.

The company puts its core values into action every day as its staff of 700 people serves 25,000 residents in 87 municipalities. We offer competitive wages, comprehensive benefits, and professional development, and we invest in our employees through extensive training programs.

POSITION OVERVIEW

Primarily responsible for managing initial aspects of acquisition activities, including the evaluation of potential acquisition projects, marketing and externally representing EAH, and negotiating terms of purchase and sale agreements and other formal agreements Responsible for initiating acquisition opportunities consistent with the company's mission and strategic plan and proposing new opportunities to the executive management team.

RESPONSIBILITIES

• Drives and researches sites in EAH's opportunity cities. Researches ownership and title information on high prospect sites and cultivates relationships with property owners.
• Performs all basic due diligence work on potential sites deemed generally viable for development purposes. Due diligence review includes reviewing preliminary title reports, evaluating infrastructure review with local public works, and building officials, estimating market values through comparable sales analysis prior to appraisal, and assessing ability to obtain entitlements for contemplated projects in the context of local general plan and zoning designations.
• Leads Business Development staff through the entitlement process.
• Creates and analyzes preliminary financial projections with assistance of Real Estate Development staff for proposed transactions; Compiles comprehensive deal analysis packages and assesses risk associated with any acquisition for review by supervisor and Executive Team; creates a development and/or acquisition strategy.
• Coordinates with project development staff on basic financial terms and conditions viable for purchase and sale agreements that are specific to the community and related subsidy environment for affordable housing developments.
• Reports to Chief Real Estate Development Officer regarding the financing of each new deal, including revenue stream and developer's fees and development checklists approvals.
• Establishes memorandums of understanding, letters of intent, purchase and sale agreements, or other tools to formalize relationships with partners, but will not have signature authority.
• Assists in negotiations for the purchase of property and terms of financing.
• Works with supervisor to negotiate terms and specific language to be included in purchase and sale agreements as well as monitoring key performance dates under agreements once a site is under contract to purchase.
• Manages seller relationship through closing.
• Obtains public approval by developing and implementing community acceptance strategies, giving public presentations on behalf of the project.
• Coordinates geo-technical and environmental analysis, planning and building code research, community planning, entitlements, and market analysis.
• Ensures that local approvals and neighborhood acceptance of proposed housing development projects occur, including submitting use applications, and attendance at hearings and neighborhood meetings. Obtains public approval by developing and implementing community acceptance strategies, giving public presentations on behalf of the project.
• Ensures efficient transition of purchased assets to Real Estate Development Department.
• Meets with Executive Team as well as CREDO on regular basis to coordinate all acquisition activities.
• Works with Executive Team and President to develop annual goals and budget for acquisitions. Develops organization's overall acquisition strategy in coordination with other departments and executive staff.
• Maintains positive working relationships with lenders and grant sources.
• In conjunction with the Real Estate Development Department and President, prepares and makes public presentations to city planning commissions and city councils related to various EAH projects. Also makes presentations in other public venues and to the EAH Board of Directors, as necessary.
• Identifies and cultivates relationships with for-profit developers.
• Works with other organizations within the housing development, healthcare, and religious communities to create opportunities and support for low-income housing development.
• Assists in identifying and evaluating new financial partners.
• Represents EAH at targeted industry conferences and seminars.
• Serves as organizational representative to housing organizations, public agencies, financial institutions, and community meetings. Advocates for affordable housing by giving public presentations, participating in community and public policy groups; attending conferences, and staying informed of public policies affecting affordable housing.
• Attends mandatory training.
• Actively participates in EAH's Injury and Illness Prevention Plan
• Regular and predictable attendance.
• Other duties as assigned.

SUPERVISORY RESPONSIBILITIES

May supervise one or more Analysts or department staff. Hires, trains, supervises, motivates, and develops staff; assures staff conforms to organizational policies and procedures and government regulations; provides day-to-day guidance and oversight of subordinates; actively works to promote and recognize performance; ensures department performance appraisals are completed effectively and as scheduled.

QUALIFICATIONS

Bachelor's degree in Real Estate, Finance, Civil Engineering; Business, or related field. At least 3-5 years of direct experience in residential multi-family development, particularly sourcing land, or existing buildings for purchase. An emphasis on deed restricted affordable housing, including multi-family developments financed with Low Income Housing Tax Credits in the State of California strongly preferred. Background in planning, zoning, and general entitlements. 2 years management/supervisory experience with proven leadership abilities.

DESIRABLE ADDITIONAL QUALIFICATIONS

• Master's Degree in Business, Finance, Real Estate, Civil Engineering, Economics or other related field.
• Success in full cycle development of affordable housing using California Low Income Housing Tax Credits or other related programs.
• Ability to create a draft feasibility analysis of proposed site which includes zoning, entitlement risk, environmental risk, political and predevelopment financing risk.

CRIMINAL BACKGROUND CHECK REQUIREMENTS

The company conducts criminal background checks on all candidates who have received a conditional job offer. Once you have received such an offer, you will be required to submit and pass our criminal background requirements. EAH also verifies education and employment history. Any verified discrepancy (resume or online application) may delay your background check results and/or affect your eligibility to work at EAH. Please be advised that certain roles may also require fingerprinting due to legal requirements. If onsite housing is a requirement of the position, any household members over 18 years of age who will be living onsite with the candidate must also undergo a criminal background check and tenant screening. Satisfactory completion of background check and fingerprinting requirements is a requirement of employment with the company.

DRUG TESTING

The company requires all candidates who have received a conditional job offer to submit to drug testing within 72 hours of accepting the offer. The company does not test for marijuana/cannabis. Satisfactory completion of drug testing is a requirement for employment.