Senior Project Developer

POSITION SUMMARY

Responsible for originating, coordinating, and implementing all aspects of the development of affordable housing projects. Projects may include new construction, rehabilitation, acquisitions, and joint ventures with other developers.

Senior Project Developers are experienced, and are expected to be self-directed, needing less technical supervision. Senior Project Developers are expected to manage a direct workload of 2 to 5 developments, depending on phase, type of project, and supervision responsibilities, if any. Senior Project Developers are considered team leaders and may be responsible for supervising or coordinating the work of others, including other Project Developers, Associate Project Developers, or Project Administrators. Senior Project Developers may supervise up to 2 employees. Senior Project Developers are expected to work cooperatively across functions at Eden, including with Accounting, Asset Management, Compliance, Operations, and Resident Services.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Project Management

• Prepare and oversee the predevelopment budget
• Prepare, update and adhere to project timelines and schedules
• Coordinate bid and qualifications processes to select construction-related consultants, including architects, general contractors, and construction consultants.
• Solicit and coordinate the work of non-construction-related project consultants, including legal, finance and other special consultants
• Negotiate contracts and monitor compliance
• Oversee project design development; supervise preparation of project plans and specifications. Ensure attention given to special-users' needs, Eden standards, project budget, timelines, and lender/investor/regulatory requirement
• Prepare and oversee the construction budget
• Prepare, update and adhere to project timelines and schedules
• Oversee the construction process including compliance with local government and lender requirements; perform site inspections; recommend decisions regarding change order requests; process change orders, pay application and loan disbursement requests; and assure compliance with plans and specifications
• Work with Eden Housing Management and community groups to facilitate affirmative marketing and smooth transition to occupancy

Build Support & Obtain Approvals

Internal Stakeholders

• Convene and lead internal project strategy meetings, including written materials, and response to follow-up items, including Milestone / Deep Dive and Watchlist meetings
• Engage senior staff as appropriate to elevate and resolve obstacles
• Ensure that applications are fully peer reviewed and address the needs and concerns of internal stakeholders

External Stakeholders

• Organize critical community support and advocacy, including community meetings and public hearings
• Lead public relations, outreach, and friend raising efforts
• Oversee mass mailings
• Effectively communicate and promote the Eden brand and mission

Planning Entitlements

• Make presentations before public bodies
• Obtain approvals and entitlements, including management of consultants as needed
• Work with public agency staff to assure timely public review and environmental clearance
• Ensure compliance with CEQA and NEPA requirements and Conditions of Approval and satisfaction of any documentation or close-out requirements

Eden (& Affiliates) Board(s)

• Responsible for accurate and transparent Board requests that capture full extent of Eden's exposure and liability, as well as timely updates of material changes to previous approvals
• Ensure that all necessary initial filings are made and that all documentation has been filed for internal stakeholders

Financial & Programmatic Feasibility Analysis

Feasibility for tax credits, tax exempt bonds, and competitive financing applications

• Evaluate financial and programmatic feasibility of potential land and/or building acquisitions
• Comparatively analyze multiple pathways, through quantitative and qualitative analysis, to financial and programmatic feasibility, solicit input from internal and external stakeholders, and formulate recommendations for senior staff
• Build a competitively successful development team and financing proposals

Programmatic feasibility analysis

• Develop strategy, in consultation with internal stakeholders and consultants, for meeting supportive services, amenities, and design commitments as conditions of financing
• Guide the development of architectural and engineering strategies to meet programmatic requirements and review and approve submittals to approving entities
• Oversee, and develop as necessary, the responses to proposed CEQA mitigations, and conditions of approval for entitlements and building permits; including review of unusual or challenging conditions with senior staff

Continuous improvement process

• Oversee budgeting and implementation of post-occupancy resolution to physical issues
• Oversee process to update design standards and processes/procedures as needed
• Participate in local, state, and federal policy planning and advocacy efforts and suggest changes to regulatory requirements that would improve the program(s) that we are using to finance our projects
• Lead implementation of internal process changes to improve efficiency at responding to funding opportunities and improving application quality control
• Lead design and implementation of post-occupancy evaluation of completed projects

Secure Sources of Financing

Financing Strategy

• Develop and implement the strategy, with input from stakeholders and senior staff, for financing the development
• Identify alternative pathways and potential risks and obstacles to fully financing the development in advance

Feasibility for tax credits, tax exempt bonds, and competitive financing applications

• Create and implement workplan and schedule for internal and external parties for completing application(s)
• Manage funding application completion process
• Bear ultimate responsibility for all quality control, including peer and supervisor review, of all funding requests before they are submitted and timely response to all queries from administrators of those funding sources
• Negotiate terms of commitments and loan documents
• Bear ultimate responsibility for tracking and responding to compliance requirements and reporting

Capital Markets Private Financing

• Coordinate with senior staff on placing capital markets private financing
• Create the Request for Proposals based on the department template
• Respond to investor and lender queries with input from senior staff
• Oversee the response to due diligence requests
• Coordinate with senior staff on negotiation of terms for commitment letters / term sheets
• Review all equity and loan docs, soliciting internal and external feedback and reviews as needed (such as from senior staff, attorneys, consultants, etc.), and tracking changes to docs

Escrow and Draw Process

• Lead loan closing process
• Oversee response to due diligence requests, escrow predevelopment draw, delivery of executed docs, finalizing borrower escrow instructions and buyer and seller statements, coordinating payoffs, and transferring borrower funds into escrow
• Bear ultimate responsibility for ensuring that equity and loan docs, escrow instructions, financial consultant projections, and buyer and seller statements all tie out and are in balance
• Create internal Milestone / Deep Dive Closing memo and respond to any questions or concerns that come up during internal review
• Bear ultimate responsibility for representations to Board in regard to development financing package, guarantees and indemnities, risks and mitigants
• Oversee d/b/a setup, accounts setup, and wire transfers
• Manage construction budget and bank draw process and balancing sources and uses

Professional Development & Department Infrastructure

• Provide leadership for developing and implementing training opportunities
• Participate in infrastructure-building initiatives and process and procedure development/ refinement/ implementation
• Become a subject matter expert and resource to colleagues for at least one funding type
• Research and participate in external professional development opportunities
• Complete other tasks as assigned by supervisor

SUPERVISORY RESPONSIBILITIES

May directly supervise project administrators or interns in the Real Estate Development Department. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws.

QUALIFICATIONS

EDUCATION and/or EXPERIENCE

Four years related experience and/or training; or equivalent combination of education and experience. Advanced degree in planning, business or a field related to housing is highly desirable.

PREFERRED SKILLS and/or ABILITIES

• Experience or background in housing, planning, business and real estate finance
• Experience or background in affordable housing development, planning or finance
• Knowledge of local, state and federal housing financing programs; including HUD programs, State HCD programs, Low Income Housing Tax Credits, and Tax Exempt Bonds
• Knowledge of and sensitivity to the concerns and needs of lower income people
• Ability to conduct financial analysis and budget preparation
• Effective oral and written communication, interpersonal and conflict-resolution skills
• Effective public presentation skills
• Excellent organizational, time management and problem-solving skills
• Ability to work in project teams, and with a wide variety of individuals
• Proficient in Word, Excel, PowerPoint, and Outlook
• Ability to work under pressure and successfully meet deadlines
• Commitment to the company's goals and philosophy