Real Estate Development Project Manager

5 days ago

Richmond, Virginia, United States Community Housing Development Corporation Full time

About Community Housing Development Corporation:

Community Housing Development Corporation (CHDC) is a nonprofit organization dedicated to creating vibrant, safe, and diverse communities throughout our region. Our mission is to provide affordable housing opportunities and services to low- and moderate-income residents, enabling them to gain better housing and financial stability. We achieve this through a unique approach to community development, engaging residents at the grassroots level and ensuring that the whole neighborhood and its residents benefit from our affordable housing and neighborhood services.

Our Approach:

We develop housing for families of all sizes, ages, and people with disabilities, emphasizing affordability for those with incomes below 80% of the area's median income. Our for-sale properties are targeted at first-time buyers, and we offer a Homeownership Program to prepare and qualify buyers. As a certified Community Development Financial Institution (CDFI), we can make direct loans to first-time homebuyers, along with down payment assistance.

Our Services:

Our property management service includes on-site financial literacy, social service after-school programs, education, career skill-building opportunities, and access to affordable transportation. We are a Green Certified NeighborWorks organization, focusing on using energy-efficient products in our existing properties and new developments, as well as offering grants to purchase eco-friendly clean vehicles.

Our Goals:

We aim to advocate for the legal protection of renters and homeowners, increase the number of housing opportunities for low-income families, and educate our communities about financial stability, promoting true equity and inclusion in the marketplace. We are committed to racial equity within the affordable housing market, joining the larger conversation and taking action.

Position Purpose:

The Project Manager (PM) is a full-time, exempt position responsible for managing the project development process on multiple projects simultaneously. This position is highly visible in the organization and externally as a team leader and project developer. The PM will determine project feasibility, develop and manage project budgets, establish schedules for project phases, secure project financing from private and public sources, and work with public agencies and local community groups during the development process.

Key Responsibilities:

  • Site Acquisition/Feasibility:
    • Research, locate, and evaluate site acquisition opportunities for CHDC's housing program(s)
    • Team leader for due diligence, coordinating with in-house development/property management staff, as well as others
    • Prepare feasibility studies and develop project proformas
  • Contract Negotiation:
    • Negotiate land purchase agreements and related vendor contracts
  • Project Financing:
    • Identify and secure public and private financing for projects
    • Review and authorize all non-construction project invoices/expenses and submit for payment
    • Monitor or coordinate disbursement/draw requests by accounting/bookkeeping staff
  • Project Budgeting & Cash Flows:
    • Develop project proformas and detailed budgets and manage project costs
    • Develop and regularly update cash flow forecast/outlook through end of projects
    • Monitor expense reports from Finance Department and provide corrections/explanation
  • Project Team & Partnerships:
    • Develop and maintain good working relationships with development partners and funders to achieve mutual goals
    • Coordinate selection and monitor performance of architects, consultants, attorneys, engineers, and other project specialists and team members
    • Coordinate project-related work of Fundraising, Homeowner Relations, and Construction Management departments to ensure adherence to project budget and schedule
  • Planning and Permitting Process:
    • Coordinate CHDC's representation before public agencies and community organizations
    • Oversee preparation of all necessary entitlement applications and other required approvals in coordination with the project team
  • Project Schedules:
    • Create and coordinate project schedules and maintain a process for the project team
    • Adherence and accountability to timelines
  • Project Reports:
    • Prepare and submit reports to funding sources for projects, in a timely manner
    • Provide periodic reports on project progress or key issues and findings
    • Regularly create/update project information for website and newsletter and provide to Development Department staff

Qualifications:

  • Minimum five years' experience in housing/real estate development, real estate finance, or planning. At least three years experience as a Housing Development Project Manager
  • Bachelor's Degree in business, real estate, or planning or equivalent experience; Master's in urban planning, Architecture, Public Administration, or Business Administration desired
  • Experience and knowledge in developing affordable housing projects within budget and deadline constraints, from start to finish
  • Experience in managing and coordinating multiple activities of project development from inception to completion preferably including nonprofit/affordable housing issues, policies, and procedures
  • Strong financial background, preferably including affordable housing real estate financing
  • Knowledge of public entitlement and funding processes
  • Strong oral, public presentation, and written communication skills
  • Proficient in Microsoft Project, Excel, and Word, aptitude/willingness to learn other management software programs
  • Ability to work in teams and coordinate diverse input into the development process
  • Ability to seek creative solutions to situations as they occur
  • Have a temperament that is suitable for the environment of a volunteer-run, nonprofit organization and the ability to create a work environment that is cheerful, productive, and inclusive
  • Commitment to affordable housing development
  • Ability to work effectively with different social and economic groups and guide community design process and acceptance
  • Experience in design or engineering desirable

Physical Requirements:

  • Must be able to remain stationary for extended periods of time.
  • Requires the mental acuity to perform the essential functions as outlined in an accurate and timely fashion.
  • Must be able to lift at least 20 pounds.

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