Vice President of Asset Management, Affordable Housing

3 days ago

Chicago, IL, United States Hirewell Full-time

Vice President of Asset Management – Affordable Housing


Key Responsibilities

  • Develop and execute portfolio-wide asset management strategies that maximize financial performance while supporting long-term ownership objectives
  • Lead all aspects of asset performance, including revenue growth, expense management, capital planning, refinancing opportunities, and disposition strategies
  • Monitor portfolio financial performance through regular review of budgets, forecasts, operating statements, KPIs, and variance analyses
  • Partner with Regional Operations leadership to improve occupancy, collections, resident retention, expense controls, and overall operational performance
  • Oversee annual business plans and operating budgets for each asset
  • Identify value creation opportunities through repositioning, redevelopment, recapitalization, and operational improvements
  • Lead capital expenditure planning and oversee execution of major renovation and preservation initiatives
  • Evaluate acquisition opportunities and provide asset management support during due diligence and post-closing integration
  • Manage lender, investor, and ownership reporting while maintaining strong relationships with financial partners
  • Ensure compliance with all affordable housing programs, including LIHTC, HUD, Section 8, HOME, USDA Rural Development, and state/local housing regulations
  • Work cross-functionally with Development and Acquisitions teams throughout the development and stabilization process
  • Present portfolio performance, investment recommendations, and strategic initiatives to executive leadership and ownership
  • Develop, mentor, and lead a high-performing asset management team


Qualifications

  • Bachelor's degree in Finance, Real Estate, Business, Economics, or related field required; MBA or Master's degree preferred
  • 10+ years of progressive experience in asset management, multifamily operations, investments, or real estate finance
  • 5+ years of leadership experience managing teams within affordable housing
  • Extensive knowledge of affordable housing programs, including: Low-Income Housing Tax Credit (LIHTC)HUD and Project-Based Section 8HO
  • Strong understanding of affordable housing compliance, regulatory agreements, and financing structure
  • Experience managing institutional or large-scale affordable housing portfolios
  • Proven success improving NOI, occupancy, asset value, and investment returns