Managing Director, San Diego Housing Fund

WHAT WE DO

The lack of affordable housing poses a major threat to our region's quality of life. In partnership with the County of San Diego and other key funders, San Diego Foundation (SDF) launched the San Diego Housing Fund (SDHF) in 2023, an exciting new initiative tackling the housing affordability crisis in San Diego County. Functioning as both a privately owned real estate and investment firm, and a newly formed subsidiary of SDF, SDHF is leading a county-wide affordable housing development strategy. Its mission: to collaborate with public, private, and philanthropic investors and partners to accelerate the production and preservation of housing that meets the following pillars: 1) community-focused, 2) equitable, 3) sustainable and 4) supports good jobs for working families, particularly in the civic sectors (public safety, education, healthcare, arts etc.). SDHF's efforts are focused on building the right kind of housing, in the right places, and doing so with modern design characteristics, construction cost controls, energy efficiency, and environmental requirements. SDHF is off to an incredibly fast start, supporting the creation of 10,000 units of new housing by 2034, with 6 projects currently in the pipeline and many more to follow.

LEADERSHIP & CULTURE

The Board of Governors leads San Diego Foundation in partnership with President and CEO Mark Stuart. The board features 21 diverse professionals who are passionate about San Diego and identifying opportunities to realize our community's potential. A career nonprofit professional, Mark brings nearly 30 years of experience in the fields of fundraising, community-building, and leadership. Since joining the organization in 2019, Mark has overseen incredible growth at SDF, focusing on a culture of inclusivity, transparency, and innovation. This includes funding and launching groundbreaking new initiatives such as SDF's Black Community Investment Fund, the COVID Small Business Relief Fund, and the San Diego Housing Fund. Under his leadership, SDF announced its $20M commitment to seed the SDHF, the largest discretionary grant in SDF's 47-year history.

San Diego Foundation CFO, Jim Howell, to whom this position reports, has been a key member of the SDF management committee, serving as the Managing Partner since its formation. A Chartered Financial Analyst (CFA), Jim brings over 30 years of finance, investment and real estate experience to SDHF. Prior to joining the Foundation in 2015, he served in senior investment and finance positions for leading organizations, such as The Scripps Research Institute and UPS. In this highly collaborative role, the Managing Director will work closely with Mark, Jim, and SDF's Chief Innovation Officer, Susan Guinn, to raise additional capital and develop partnerships to scale this exciting new initiative.

The full SDHF advisory board is comprised of experienced real estate and community leaders including Steve Cushman, Marc Brutten, Hal Dunning, Andy Ballester, and Pamela Gray Payton, along with the three SDHF management committee members: Mark Stuart, Susan Guinn, and Jim Howell.

COMPENSATION & BENEFITS

• Salary – $325,000 – $375,000 DOE/Neg.
• 100% Employer paid medical, vision, dental, life, AD&D, and long-term disability premiums; 75% Employer-paid premiums for all dependents on your benefits
• 403B Retirement plan match up to 4% + Annual discretionary contribution
• Earned Incentive Program
• 3 weeks of paid time off and 1 additional week off with pay in July for all staff
• 13 paid holidays and 2 paid volunteer days off each year
• Extended Health Care Time accruing at 2.77 hours per pay period to a cap of 480 hours: use for sick time, family care, and parental leave baby bonding
• $100 monthly cell and internet reimbursement
• $75 quarterly gym reimbursement
• Donor Advised Fund contribution with no minimum and $600 annual match from the Foundation to a nonprofit of your choice
• Annual service award $100 donation to a nonprofit of your choice
• Flexible 9/80 Alternative workweek schedule, with every other Friday off
• 4-week sabbatical for every 5 years of service

LOCATION

This is a hybrid role, with an office located at the San Diego Foundation - 2508 Historic Decatur Rd #200, San Diego, CA 92106.

POSITION SUMMARY

Reporting to the SDF CFO and SDHF management committee, the Managing Director will oversee strategic planning, project management, and financial oversight for ground-up development projects, while maintaining the highest standards of excellence in terms of asset quality. They will have overall responsibility for all SDHF's operations from site identification, design, and diligence, through to funding, construction, and ultimate transition to asset management partners. At the strategic level, these activities comprise SDHF's three primary operating segments:

• Land acquisitions and entitlement.
• Asset management (JV partner relations and project oversight).
• Capital formation, investor relations, and finance and administration.

Certain operating segments such as back-office functions are provided by San Diego Foundation, while others are managed by highly experienced, reputable, and local operating partners (developers). The SDHF Managing Director is a highly visible and collaborative role, therefore, it is paramount that they have strong leadership and problem-solving capabilities to improve and expedite the development process, while maintaining budgets, schedules, and quality expectations.

First-Year Priorities Include:

• Assist in raising between $50M and $75M in new capital annually.
• Create 1,000 housing units each year.
• Hire and onboard a director to support SDHF initiatives.

DUTIES & RESPONSIBILITIES

Leadership & Operations:

• Continue to refine and execute SDHF's long-term strategy and vision for the company that leads to the enhancement of unit-holder value.
• Develop and maintain close working relationships with municipal, corporate, and other investment partners, as well as community representatives, for strategy input and impact assessment.
• Achieve the company's financial and operating goals and objectives.
• Lead capital raising sourced from corporate, banking, and philanthropic relationships.
• Ensure that the company has an effective management team and a plan for management development and succession.
• Provide leadership and direction for SDHF team members.
• Promote a positive and ethical work climate that is conducive to attracting, retaining, and motivating top-quality employees at all levels.
• Oversee the financial reporting process to ensure timely disclosures and proper internal controls.
• Serve as chief spokesperson for the company, subject to the direction of the management committee.

Real Estate:

• Lead site identification and development planning initiatives, including relationships with individual operating partners for each project.
• Secure approvals during the entitlement phase of the development process; maintain positive relationships with jurisdictions and planning commissions.
• Adhere to strict specifications and cost management discipline during the design development phase.
• Coordinate bids, negotiations, and construction contract processes.
• Oversee creation and management of budgets; effectively manage/resolve any deviations.
• Facilitate a smooth transition from construction to marketing and leasing for each project.
• Monitor projected vs. actual operating costs, ensuring any anticipated deviations are highlighted, addressed, and communicated to the proper parties.
• Maximize the long-term asset value through arrangements for expert property management and maintenance.
• Ensure compliance with current code, as well as health and safety laws and internal requirements.

BACKGROUND PROFILE

• Demonstrated experience in acquisitions, entitlement, development, project management, real estate, and/or construction.
• Excellent communication and collaboration skills, particularly with senior leadership and Boards.
• Superb public speaking skills and demonstrated ability to connect with investors, philanthropists, and key stakeholders.
• Skillful and experienced in strategic planning, resource allocation, and project management.
• Analytical skills with the ability to foresee issues, develop constructive solutions, and provide decisive recommendations.
• Ability to work independently and react quickly in a demanding, fast-paced environment.
• Capable of managing multiple projects simultaneously, balancing priorities and deadlines.
• An effective leader who motivates and directs people through positive, impactful action.
• Connectivity to San Diego; experience working within and across the region, with a deep understanding of the local history and affordable housing environment
• Strong reputation as a builder of both relationships and communities.

This is an excellent opportunity for an extremely organized, dynamic, and relational leader who is an excellent communicator and will function well in a fast-paced, vibrant environment to lead and execute a civic housing strategy across San Diego County.