Real Estate Development Director

2 weeks ago

Chicago, United States Puerto Rican Cultural Center Full time
Job DescriptionJob DescriptionDescription:

Puerto Rican Cultural Center founded on November 17, 1972 as an Illinois Not-For-Profit Charitable Corporation, is a non-profit, community-based umbrella institution, which seeks to serve the social/cultural needs of Chicago’s Puerto Rican/Latino community. It is built on the following principles: a philosophy of self-determination, a methodology of self-actualization and critical thought, and an ethics of self-reliance best expressed in the motto, “To live and help to live.”

The Puerto Rican Cultural Center (PRCC) is named after Juan Antonio Corretjer, the celebrated Puerto Rican national poet and political leader. It serves as a place where people come together to address the critical problems confronting the community and to recover their history, to share in the music, poetry and drama of Puerto Ricans both at home and in the diaspora.

PRCC currently runs approximately 22 social services programs. PRCC also plays an active role in community and economic development including the creation of Puerto Rico Town. Puerto Rico Town celebrates and preserves Puerto Rican Culture through the sustainability of small business owners and working families through four pillars united by culture. In addition to running programming, PRCC directly owns several properties along Division Street in Humboldt Park.

Requirements:

The Real Estate Development Director will be responsible for leading the real estate development activities to advance the work under the economic development pillar of Puerto Rico Town.

Key activities will center around the following along Division Street:

· Acquiring critical properties;

· Coordinating the renovations and upgrades to the building stock;

· Supporting small businesses in accessing renovated storefronts; and

· Securing capital to support economic development activities.

The Director role will require working knowledge and direct experience managing the various components of a commerical real estate development project including capital coordination, property acquisitions, design and construction as well as leasing and tenant recruitment.

· Coordinate the assessment and financial feasibility of real estate development projects owned and operated by PRCC including but not limited to creating preliminary budgets and completing early-stage due diligence.

· Conduct property research and navigate the various public online systems to research, secure and manage properties (e.g., tax records, building code violations, zoning, etc.).

· Coordinate and secure capital required to complete PRCC projects including but not limited to applying for City of Chicago grants, DCEO grants, LIHTCs, CDFI loans, philanthropic grants and others.

· Coordinate and manage vendors and consultants required to complete and maintain PRCC real estate development project (e.g., attorneys, architects, property managers, brokers)

· Assist local entreprenuers, community developers and other stakeholders with advancing their real estate development projects on commercial corridors (e.g., grant application support, city approvals, community outreach, etc.)

· Track and maintain economic development indicators for commercial corridors including vacancy rates, business mix, building permits, etc.

· Support and facilitate the execution of economic development strategies along the commerical corridors in alignment with Puerto Rico Town.

· Performs other duties as assigned.


· Bachelor's degree in related field of study (e.g., real estate, urban planning, economic development, construction) or commensurate experience

· Working knowledge of the Englewood community or similar urban communities

· Direct experience managing real estate development projects at some capacity

· Direct experience creating development budgets and operating proformas

· Direct experience applying for and managing funding applications (e.g., grant applications, loan applications)

· Direct experience or working knowledge of community development incentives and tools (e.g., TIF, NOF, NMTC, LIHTC, etc.)

· Direct experience or working knowledge of small business financing including SBA lending

· Strong quantitative skill set and project management skills to successfully manage complex real estate development projects.

· Ability to drive decisions and outcomes through consensus and coalition building

· Strong interpersonal, writing, oral presentation skills

· Strong financial analysis skills and experience with related software (e.g., Excel)

· Must be willing to work flexible hours, including some evenings and weekends.

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