Manager of Affordable Housing Development

5 days ago

Rochester, United States Rochester's Cornerstone Group, Ltd. Full time $75,000 - $110,000
Summary:The Manager of Development will lead the entire development process of affordable residential properties, from concept to permanent financing while also promoting company mission, values, and culture. Utilizing exceptional management skills, this position leads both internal support staff and the external development team to meet deadlines. This requires strong organizational skills, critical thinking, problem solving, strong verbal and written communication skills and excellent attention to detail to face ever-changing priorities. 

Essential Functions: Project Predevelopment:
  • Understands the NYS LIHTC and related funding applications, determines areas of opportunities and programs for housing needs in a variety of communities.
  • Builds strong relationships with non-profit partners, service providers, funding agencies, and other development partners, entering MOUs and contracts with them.
  • Conducts financial feasibility analyses by reviewing the potential sources of funds and uses of funds and creating both the project development and operating budget.
  • Obtains local approvals and site control by working closely with various municipalities and overseeing submissions to zoning and site plan review boards by architects and engineers. 

Project Funding Application:
  • Oversees the preparation of market studies, appraisals, environmental studies, and all other requirements needed by funding applications. 
  • Obtains and summarizes necessary community needs documentation. 
  • Works with banks, investors, attorneys, and funding agencies providing the documents they need to receive funding commitments.

Finance Closing, Project Monitoring:
  • Oversees the construction closing by communicating with funders, partners, and attorneys, ensuring all their requirements are met and keeping the timeline on schedule.
  • Represents RCG at construction meetings and resolves issues related to schedule, local permits, third-party professionals’ responsibilities, and funding requirements.
  • Formally approves construction hard and soft cost draws, and coordinates construction change orders with the goal of keeping the project on budget and on time.

Permanent Closing and Occupancy:
  • Keeps property management informed of the project and expected (C of O)date with the goal of maximizing the equity upward adjustors.
  • Oversees the permanent closing process, once the project is completed, making sure that all funders, investors, and attorneys’ requirements have been met and documentation has been satisfied.
  • Ensures a smooth transition as Property Management assumes responsibilities for the completed project.

Mental and Physical Demands:
  • Experiences frequent interruptions; required to meet inflexible deadlines; requires concentration and attention to detail; requires ability to problem-solve; requires a high level of organizational and prioritization skills.
  • Requires ability to maintain confidentiality of information received.
  • Requires ability to sit for prolonged periods; exposed to visual display terminal for prolonged periods; dexterity and precision required in the operation of a computer.
  • Requires ability to lift up to 25 pounds.

Supervisory Responsibilities:
This position may assist in the supervision of associate level staff.

Core Competencies/Qualifications: 
  • Unwavering commitment to the Company’s mission, values, and culture.
  • Must be willing to contribute to harmonious and professional workplace environment, in which all individuals are treated with respect, supporting and upholding our zero-tolerance policy for harassment, discrimination, retaliation, or other prohibited conduct.
  • BS degree in Real Estate Development or related field.
  • Minimum of 5 years of real estate development experience, finance, banking, or law; NYS financed LIHTC project development experience preferred.
  • Working comprehension of development and operating budgets.
  • Demonstrated skill in correct grammar, spelling, and English usage: ability to read, write, speak, and communicate effectively and professionally.
  • Strong leadership and organizational skills: models leadership by leading through example.
  • Ability to problem-solve independently, at all levels.
  • Ability to establish and maintain effective relationships with co-workers, administrative team, and the public: is committed to ongoing principles of creating diverse, equitable and inclusive strategies, as well as maintaining a professional office atmosphere and positive customer service attitude.
  • Proficiency in Microsoft Word, Excel, and Outlook and ability to navigate the internet.
  • Must possess valid driver’s license and New York State motor vehicle insurance. 
  • Possession and required use of a personal cell phone required.
 
Compensation:The salary is commensurate with experience and includes a generous benefits package and opportunity for bonuses.

Why join our team?Formed in 1990, Rochester’s Cornerstone Group has become a true leader in affordable housing development in New York State. Since being formed, Cornerstone has created or preserved more than 3,000 units of affordable housing across New York State and extending into Pennsylvania. These projects serve a wide range of people, including families, the elderly, individuals with mobility impairments or people with developmental disabilities. Cornerstone has also brokered dozens of commercial properties in the region, ranging from professional office space to vacant land to industrial parks, as well as developed multiple commercial properties, from new construction to historic renovation. We are a regional leader in affordable housing and real estate development, consulting, brokerage services, and property management. We have been recognized as a winner of RBJ’s Excellence in Construction and Real Estate, as well as being recognized as a multiple winner of the Top Workplaces in Rochester.
 
Rochester's Cornerstone Group, Ltd. and Cornerstone Property Managers, LLC are committed to ongoing principles of creating diverse, equitable and inclusive strategies when selecting our employees, collaborating with partners, and engaging with tenants at the properties we manage.
 
RCG/CPM is dedicated to assisting employees in managing their careers and reaching their professional goals through promotion and transfer opportunities. RCG/CPM encourages employees and supervisors to discuss job performance on a frequent and ongoing basis.
 
Our Mission: We are committed to developing, preserving, and managing affordable housing that enhances the lives of our residents.

Our Values: We foster an innovative and inclusive environment where integrity is the Cornerstone.

Our People and Culture: We are committed to providing superior quality and unparalleled customer service in all aspects of our business. We believe each employee contributes to the success and growth of our Company. 

It is the policy of RCG/CPM to maintain a harmonious and professional workplace environment that promotes efficiency, positive employee morale and promotes a professional image. RCG/CPM is committed to a work environment in which all individuals are treated with respect. As such, all employees are expected to act and be treated with integrity and the highest ethical behavior.All members of RCG/CPM are part of a collaborative, cohesive team, and we all make a difference 

RCG/CPM is an Equal Opportunity Employer. Employment opportunities at RCG/CPM are based upon one's qualifications and capabilities to perform the essential functions of a particular job. All employment opportunities are provided without regard to race, religion, sex, pregnancy, childbirth or related medical conditions, national origin, age, veteran status, disability, genetic information, or any other characteristic protected by law. 

Join our team and make a difference

*Job descriptions are not an exhaustive list of duties; other tasks consistent with the scope and intent of the position may also be required. 

About Rochester's Cornerstone Group, Ltd.:

Formed in 1990, Rochester’s Cornerstone Group has become a true leader in affordable housing development in New York State. Since being formed, Cornerstone has created or preserved more than 3,000 units of affordable housing across New York State and extending into Pennsylvania. These projects serve a wide range of people, including families, the elderly, individuals with mobility impairments or people with developmental disabilities. Cornerstone has also brokered dozens of commercial properties in the region, ranging from professional office space to vacant land to industrial parks, as well as developed multiple commercial properties, from new construction to historic renovation.

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