East LA Community Corporatino is seeking a Director of Real Estate Development.
The primary job responsibility of the Director of Real Estate is responsible for the oversight of all Real Estate Development staff. The Director must have the ability to manage at least 4 full time Project Managers, interns and various consultants.
Candidates for this position should have a minimum of 7 years in in multi-family tax credit and single-family experience and 3 years in management/supervisory role. This position will work out of the Boyle Heights office and off-site and in a fast-paced work environment. The Candidate should have experience in nonprofit affordable housing financing, entitlement processing, planning, real estate economics, marketing, or customer service related to the affordable housing industry, with preference given to recent experience in land acquisition and asset management. A demonstrated understanding of real estate development (single family, or multi-family rental or for-sale) metrics and influences (financing, zoning, construction, etc.) allowing the candidate to perform preliminary due diligence and feasibility analysis is required.
Candidates should be skilled with the MS Office Suite, able to run database queries, and recognize that detail oriented tasks are critical to a project’s long-term success. Understanding of the scoring criteria for allocations of Low Income Housing Tax Credits by the California Tax Credit Allocation Committee is critical for candidate success, but not a prerequisite for placement.
This position reports to the Vice President of Real Estate and Asset Management.
Responsibilities:
Manage Real Estate Staff daily activities and monitor project readiness and financing deadlines.
Supervise and Manage the application and submission of funding applications including application to HCID’s Managed Pipeline, HCD Infill/TOD, VHHP, DMH, County HOME/CDBG, Section 8 contracts, AHSC, 4% and 9% Tax Credit applications, MHP and tax exempt bond applications. In addition, the Director will also manage the development of single-family projects and projects that utilize NMTC’s.
Manage title and escrow process from open to close Maintain contact with landowners and the brokerage community
Identify and research available funding sources
Understand governmental processes necessary to entitle property
Communicate all agreement milestones and performance items to responsible parties
Initiate and maintain ongoing cordial professional relationships with outside entities and various stakeholders.
Attend interdepartmental meetings and general meetings as required
Oversight of Real Estate Department Staff.
Job Characteristics:
Education and Experience:
Applicant should have a bachelor’s degree in a related field and work experience and/or graduate level coursework in a field supporting the job requirements, with cumulative applicable work experience of at least seven (7) years. Commercial real estate brokerage experiences a plus. Use of personal vehicle is required (valid driver’s license and insurance required).
Abilities:
High degree of independence, motivation, and accountability.
Excellent oral and written communication
Sophisticated, tactful, and results-driven negotiation skills
Knowledge of land use policies and entitlements
Established network of owner, developer, broker, and financier relationships to facilitate sourcing.
A comprehensive understanding of the real estate industry and its various property types with a strong emphasis on multi-family housing.
Successful deal history completing large transactions from the investment (not lender) side.
Ability to assess financial feasibility using a variety of funding sources
Ability to multi-task in a fast-paced work environment with time sensitive material.
Strong organizational, written and verbal communication skills.
Strong problem solving skills.
Strong interpersonal skills.
Ability to work effectively with a team.
Compensation:
Compensation commensurate with experience. This is a full-time exempt position, with a competitive benefits package.
ELACC is an Equal Opportunity Employer.
How to apply
Email cover letter, resume and salary history to:
Katty Pollicino, Director of Office Operations
Email: kpollicino@elacc.org