Vice President of Asset Management, Affordable Housing
3 days ago
Chicago, IL, United States
Hirewell
Full-time
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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