Director of Real Estate Development

Description

Now Hiring: Director of Real Estate Development
Reports to: Executive Director
Position Status: FT, Exempt. Salary: based on related skills & experience.
Base salary starts at $140,000, commensurate with experience. Additional opportunities for bonuses up to 20% of base salary.
Office in Charlottesville, VA. This position is a hybrid role, with interoffice travel.

To apply: Please submit a resume, cover letter, and references to chassawi@piedmonthousing.org. This position will close on March 8th; however, applications will be reviewed on a rolling basis, and we encourage you to apply as soon as possible. We will not contact references without your permission.

ABOUT PIEDMONT HOUSING ALLIANCE

Piedmont Housing Alliance’s mission is to create affordable housing opportunities and foster community through education, lending, and development. We are the backbone affordable housing organization in the region and operate through a collaborative approach as evidenced through a broad range of partnerships from new housing development to recently jointly opening Charlottesville’s first Financial Opportunity Center. Our work reflects our core values of Equity, Opportunity, Home, Community, and Respect. Over the last five years, Piedmont Housing has increasingly deepened its focus on racial equity as a primary lens for the organization’s work – internally, programmatically, and through advocacy – and we strive to become an anti-racist organization.

We define anti-racism as a practice – a continual, active effort to identify, evaluate, and dismantle the beliefs and structures that perpetuate racism.

POSITION SUMMARY

Reporting to the Executive Director, the Director of Real Estate Development provides leadership and vision on three development fronts. 1) The Director will advance our LIHTC multifamily, community-centric developments. 2) In addition, over the last two years, Piedmont Housing has renewed its focus on developing affordable homeownership opportunities in partnership with the Piedmont Community Land Trust (PCLT). Piedmont Housing Alliance provides all staffing and project development expertise for the PCLT. 3) Lastly, Piedmont Housing is currently establishing a new community solar line of business that will include developing solar projects at a range of scales – from building rooftops to utility scale developments. The Director of Real Estate Development will grow and support all three lines of work, while also directly supervising a small team of three (3) project managers.

This position is responsible for managing the entire development process of complex housing and solar projects, including feasibility analysis, acquisition, deal structuring, design development, financing, public approvals, construction, and close-out. Primary responsibilities focus on achieving the objectives for each active development and managing tasks related to property acquisition, proforma financial analysis, design, construction debt and equity financing, closings, and lease-up and stabilization. The Director of Real Estate Development collaborates with other members of the Piedmont Housing team (development, community management, finance), with the design team, general contractors, public agency staff, lenders, legal, partners, and consultants.

The Director of Real Estate Development will join at a crucial moment with a development pipeline of over 1,000 homes (rental and homeownership) and a new solar development line of business.

Piedmont Housing Alliance is an Equal Opportunity Employer. We are committed to building a team that uplifts and values inclusive policies and equitable practices. Candidates of all races, ethnicities, nationalities, religions, genders, sexual orientations, ages, and abilities are encouraged to apply.

ESSENTIAL FUNCTIONS

1. Manage all facets of real estate development projects from concept through completion, including:

Feasibility, Entitlement, and Design
o Lead process from predevelopment and acquisition, through site plan review, design and permitting.
o Create and manage market and financial analyses, feasibility assessments, budgets, and proformas.
o Perform site due diligence, including review of zoning, utilities, etc.
o Develop, lead, and maintain knowledge of the Real Estate Development practices, including evaluating all decisions through a J.E.D.I. (Justice, Equity, Diversity, and Inclusion) lens.

Financing and Construction
o Participate in preparing applications for project funding, including community engagement, pre-development, construction, and permanent financing, and submit related applications, documentation, and reports as required by lenders/funders.
o Coordinate design team through construction, monitoring schedule, cost, and quality of work; accountable for managing adherence to schedule and budget.
o Negotiation of all major agreements and financing documents.
o Manage final punch lists and construction close-out.

Homeownership and Community Land Trust (CLT)
o Support growing pipeline of CLT development opportunities (in collaboration with Executive Director and Director of the Piedmont Community Land Trust), including acquisition/rehab, new construction infill development, and partnering with developers and builders.

Community Solar
o Support an emerging line of business to develop large scale community solar projects in collaboration with Executive Director and other staff.

Collaboration
o Although all the above responsibilities are expected, the Director will operate within and be supported by the larger PHA organization, including the Executive Director and Chief Financial Officer, the Development & Communications team, the Financial & Housing Counseling team, and the Piedmont Community Land Trust team. Cross-collaboration and shared learning will be crucial as the Real Estate Development department orients its work within an evolving structure of a larger organization.
o Liaison between the real estate team and community management/operations on building-related issues.

2. Manage a multidisciplinary development team of staff and consultants. This includes the responsibility to hire, train, and support a small team of real estate development staff.

3. Foster productive and collaborative relationships with the development community, lenders, municipalities, various levels of government, and other public, private, and non-profit partners.

4. Responsible for leading and developing Piedmont Housing’s project pipeline. This includes the ability to forecast and budget development resources effectively across varied project types.

5. Recommend and implement improvements on development policies, procedures, and systems.

6. Participate in organizational strategic planning and other executive management processes.

7. Perform other duties as assigned by the Executive Director.

KNOWLEDGE, SKILLS & ABILITIES
• Ability to simultaneously manage and successfully deliver multi-faceted projects; proven track record of leading all aspects of the real estate development process and project management, including coordinating teams and managing schedules, tasks, and construction.
• Prior experience in architecture, real estate development, project management, and/or construction.
• Strong working knowledge of affordable housing development, finance, and building construction practices and standards.
• Ability to analyze information, evaluate opportunities, and recommend a course of action.
• Team player with excellent interpersonal skills, who interacts productively and positively with other members of the Piedmont Housing Alliance team.
• Strong communication skills, with ability to make presentations to residents, neighbors, civic leaders, government, and funders.
• Ability to meaningfully engage with issues of racial equity and inclusion.
• Detail-oriented; able to plan, prioritize, and organize multiple projects concurrently.
• Adaptable and open to exploring opportunities.
• Self-motivated, with an ability to work both independently and within a team setting.
• Proficient in computer software, including Word, Excel, and Power Point.
• Strong work ethic, integrity, and good judgment.

QUALIFICATIONS

While this position leads several vital areas of our work, it is not our expectation that candidates have a mastery across all areas; instead, we encourage candidates to apply who have self-awareness and humility around areas they will need to grow in and the motivation and aptitude to lead the learning required to hit the ground running.

• A minimum of 5 years of residential real estate project development, neighborhood revitalization, city planning, and/or construction experience, preferably with affordable housing.
• Degree in Urban Planning, Real Estate Development, Architecture, or related field preferred.
• Demonstrated knowledge of financial analysis techniques in preparing and analyzing financial models and working with complex spreadsheets.
• Effective and confident communicator and relationship builder with strong emotional and cultural intelligence; someone who leads by influence and is sensitive to team and stakeholder dynamics.
• Experience as a collaborative manager with the ability to attract and nurture high-performing talent.
• Experience facilitating collaboration and partnership between programs and the administrative functions of human resources, finance, and development.
• Excellent written and oral communication skills and the ability to address a variety of diverse audiences.
• Direct experience in affordable housing, social services, or related field is a strong plus.

CONDITIONS FOR EMPLOYMENT

• Successful completion of a criminal background check and 10-panel drug screen.
• This position requires the willingness and ability to travel within the service region (Charlottesville city and Albemarle, Nelson, Fluvanna, Greene, and Louisa Counties).
• Candidates must own or consistently have a vehicle available for use for local and out-of-area travel as needed.

BENEFITS OVERVIEW

Piedmont Housing offers a highly competitive salary and benefits package which includes:

Generous Paid Time Off
o Four weeks PTO (sick + vacation); goes to five weeks after two years of employment.
o One extra PTO day on (or near) an employee’s birthday
o 11 paid holidays
o ½-day Fridays during the summer months
o Four weeks of parental leave (birth or adoption)

Opportunity for merit-based bonuses (up to 20% of salary)

Retirement
o 3% salary contribution to 403B by PHA
o Match up to 2%

Medical
o Paid medical + dental insurance for employee
o Dependent Care FSA

Training/Coaching
o Opportunities for Executive Coaching for Director Level positions
o Access to regular, paid training/travel opportunities through NeighborWorks Training Institutes (and other national intermediaries) as well as Virginia-specific opportunities to support skills and leadership development.