Senior Real Estate Developer

About INHS

Established in 1976 as a partnership between residents, funders, and local government, Ithaca Neighborhood Housing Services (INHS) is a non-profit, community development corporation affiliated with NeighborWorks ® America. INHS is dedicated to expanding the housing opportunities for low- and moderate-income residents of Tompkins, Cayuga, Chemung, Cortland, Schuyler, Seneca, and Tioga counties. It seeks to foster communities that embrace diversity, equity and sustainability in ways that produce lasting outcomes.

PURPOSE OF POSITION

The Senior Real Estate Developer is responsible for the complete development of affordable housing projects from inception through final finance closing by assembling and managing an external team of financiers, architects, designers, engineers and contractors. These projects include new construction, renovation or adaptive re-use of a variety of housing types such as multifamily rental, single family detached, condominium, cooperative, and mixed-use.

Salary Range: $75,000-$80,000

DUTIES AND RESPONSIBILITIES

Site Evaluation and Selection

·     Explore possible development sites with respect to zoning, cost, environmental and development feasibility, cost and availability;

·     Under direction from the Director of Real Estate Development, negotiate purchase contracts or option agreements.

Project Development

·     Develop project concepts and initial cost estimates;

·     Create and manage project teams that include INHS staff and outside consultants;

·     Develop financial analyses, project schedules, financing and operating plans.

·     Prepare initial assessments of project feasibility, including appropriateness of the site; development of cost estimates; long-term operating viability and market risk;

·     Present feasibility analyses to decision-makers and funders for approval with recommendations;

·     Under direction with the Director for Real Estate Development, negotiate land and property purchase agreements and related vendor contracts.

Project Funding

·     Maintain up-to-date knowledge about local, state and federal affordable housing programs;

·     Develop viable project funding plans that include funding for predevelopment, construction and operations;

·     Under direction from the Director of Real Estate Development, prepare grant or loan applications for funding from local, state or federal funders.

Project Design and Engineering

·     Oversee the development of design alternatives by architects and other professionals;

·     Secure zoning/site plan approval for proposed projects, including environmental review;

·     Secure approval of plans/specifications from local authorities and funders.

Funding Approval and Construction Closing

·     Coordinate financing approval with all lenders

Construction Management

·     Oversee contractor selection and contracts;

·     Monitor construction and contract compliance;

·     Monitor or coordinate disbursement/draw requests with accounting/finance staff.

Permanent Closing

·     Ensure timely closing of completed projects with Finance department and attorneys/funders/investors.

SUPERVISORY

Reports to: Director of Real Estate Development

Supervises: no other staff

EDUCATION & EXPERIENCE

Bachelor’s degree in Business Administration, Real Estate, Architecture, Engineering, or Urban Planning and a minimum of three years of professional experience in housing and real estate development, real estate finance or planning.

Financial analysis skills are required. Excellent written and oral communication and interpersonal skills. Ability to work independently and manage competing priorities in a fast paced, changing environment. Basic knowledge of real estate law in New York. Ability to work effectively with different social and economic groups in community meetings and guide community meetings. Ability to negotiate development and consultant contracts.

Intermediate proficiency in Windows-based software including MS Word, MS PowerPoint, Adobe Acrobat, and MS Excel.

Personal qualities of integrity, credibility, and a commitment to the INHS mission to revitalize neighborhoods and to assist low to moderate income people in obtaining quality housing on a long-term basis.

Preferred Knowledge of Federal, State and Local public entitlement process and affordable housing funding process required; experience in obtaining planning approval, …