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Project Manager: Affordable Housing Development Specialist

1 month ago

Reston, Virginia, United States Gates Development Group, LLC Full time

Job Summary

The Project Development Manager performs tasks associated with planning and executing affordable housing preservation transactions. A typical project is 20 to 50 years old and was originally developed through the HUD 202 Direct Loan or Capital Advance programs, with some form of rental assistance (PBRA, PRAC, SPRAC, PBV). The job includes project planning, rental subsidy expansion and maximization, executing refinancing transactions, and project close-out. Our non-profit clients are located throughout the country, and some travel may be required. In addition to working on transactions, the Project Development Manager will assist with the development of trainings and training materials, and they will participate in networking and marketing opportunities.

Key Responsibilities

  • Analyze real estate preservation options and prepare project summaries, reports and recommendations for client review and approval.
  • Provide high-level assistance to the CEO on preservation transactions.
  • Directly manage select preservation refinancing transactions, primarily utilizing FHA 223(f), FHA 221(d)4, GRRP and AHP funding.
  • Create and take primary responsibility for financial models, project timelines, and project reports.
  • Lead project and team meetings, and proactively communicate with clients and teams.
  • Provide ongoing coordination and effectively communicate with architects, contractors, and legal counsel other members of the project development teams.
  • Assess AHP Grant opportunities throughout all 9 Federal Home Loan Banks (FHLBs) for potential funding grants for clients, and complete and submit AHP applications on the clients' behalf.
  • Prepare Section 8 HAP contract termination and renewals, assignments and contract combining requests.
  • Manage the pre-conversion process for HUD 202 PRAC clients, working towards and managing conversions through the RAD for PRAC program.
  • Deal with privileged legal and financial matters of the organization and of the clients' organizations.
  • Work cooperatively with others and comply with all company policies and procedures.
  • Assist with the development of trainings and training materials, and represent GDG, LLC at industry education and networking events.

Requirements

  • Bachelor's degree in Planning, Business, Real Estate, or a related field.
  • Five (5) or more years of transactional and/or project management work in the low-income housing development and refinancing field.

Work Schedule & Location

GDG believes strongly in a healthy work-life balance. The official work week is Monday through Thursday, and full-time work constitutes 32 base hours per week. It is required that 18 hours be worked synchronously on Tuesdays, Wednesdays, and Thursdays from 9:00 am until 3:00 pm EST, and another 14 hours of asynchronous work hours will be spread throughout the balance of the week.

Work Location/Environment:

  • This position can be 100% remote, but in-office options are available.
  • Preference will be given for location in the southeast.