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Vice President of Development
2 months ago
Vice President of Development
ACRUVA Capital Partners (“ACRUVA”) is seeking a Vice President of Development to join our team working from our Deerfield Beach, FL office. ACRUVA is expanding its Affordable Housing multifamily portfolio through development of new multifamily communities throughout Florida and Commonwealth of Puerto Rico. The Vice President of Development plays a pivotal role in the organization’s mission to provide high-quality affordable housing for special needs populations. This position will lead development projects and manage Development Team members in a highly autonomous setting. The Vice President of Development will work on the full breadth of the project development process from approval of site selection through credit underwriting due diligence, financial underwriting, construction and lease-up will work on in concert with the Finance and Acquisitions teams.
Key Responsibilities
• Direct and take accountability for the complete development process, including seeking and analyzing new development and partnership opportunities, feasibility analysis, financing applications, financial underwriting and closing, due diligence, contract solicitation and negotiations, permitting and entitlements, and lease-up coordination.
• Collaborate with competitive funding solicitations (RFP/RFQ, NOFAs, etc.) for workforce and affordable housing development opportunities and support the acquisitions team in the preparation of comprehensive applications.
• Manage the design process with external design consultants, construction and development team members, as well as external architects, planners, engineers, and interior designers.
• Conduct market and project specific research (i.e. rent/income rates and trends, operating expenses, occupancy rates, utility allowances, unit size/mix demand, etc.) to structure the development programming and establish a proforma operating budget.
• Solicit and negotiate contracts with vendors and design professionals including, but not limited to, surveys, geotechnical reports, market studies, appraisals, environmental reports, specialty engineering contracts, etc.
• Lead the internal and external design and development teams in securing project entitlements and public approvals such as zoning, site development, and building permits.
• Collaborate with Vice President of Finance to develop and refine detailed development budgets and critical path timelines covering the development process from feasibility through stabilization of the asset.
• Collaborate with Development Cost Accountant to process and track development sources and uses with the project finance and accounting teams during the pre development and construction phases.
• Establish and maintain rapport with financial partners, local governments, public housing authorities, housing finance corporations, community redevelopment agencies, community/neighborhood organizations, and other project stakeholders.
• Identify and track potential issues and challenges in the development process, quantify the risk/impact, and provide solutions. • Deliver clear and concise reporting on the status and progress of projects under management.
Requirements
Education & Experience:
• Must have proficiency with Microsoft Excel, Word and Power Point with the ability to learn and implement new software and technologies quickly.
• A minimum of four years of experience is required in affordable housing real estate development and/or real estate project management in a discipline such as planning, civil engineering, architecture, construction or another related field.
• Prior LIHTC experience is STRONGLY preferred.
• Requires a high-level of critical thinking, self-initiative, multi-tasking, and an overall entrepreneurial spirit. Must have the ability to multitask and meet deadlines in a fast paced environment.
• Must be able to utilize creativity and resourcefulness to resolve issues that arise during the development process.
• Must be a team player with the ability to build and maintain relationships and rapport with local governments, vendors, industry professionals and your peers throughout the organization.
• A master’s degree is preferred but a bachelor’s degree with experience in real estate project management, civil engineering, construction, urban planning and architecture will be considered.
Skills & Attributes:
• Strong problem-solving skills with a detail-oriented approach.
• Ability to handle multiple priorities, meet deadlines, and manage complex tasks with minimal supervision and work effectively in a diverse, multicultural team.
Mindsets
• You thrive on problem-solving and don’t rest until questions are answered.
• You are meticulous and take pride in getting details right.
• You seek continuous improvement and enjoy streamlining processes.
• You excel in entrepreneurial settings, staying resourceful amid ambiguity and change.
Work Location: Position is in Deerfield Beach, Florida.
Benefits: Full Benefits Schedule: 5-day work week.
Position is Full-Time / Exempt status.
Compensation: Company provides competitive salary (based on experience)
Equal Opportunity Statement ACRUVA Capital Partners LLC is committed to fostering an inclusive and welcoming environment. We do not discriminate based on race, color, religion, gender, age, national origin, disability, marital status, sexual orientation, military status, or any other characteristic protected by law.
