The Chicago Metropolitan Housing Development Corporation (CMHDC), a non-profit housing development corporation, is seeking a Deputy Director/Director of Real Estate Development with strong managerial, financial and real estate experience to identify and pursue affordable housing opportunities. In addition, the Deputy Director will manage the operations of the organization in the absence of the Executive Director. Based in Chicago, the Deputy Director will work closely with the Executive Director and the Board of Directors to develop a pipeline of transactions for the growth of the agency. This position requires strong management skills and knowledge of affordable housing development. Responsibilities among others include the following:
Manage activities of the organization in the absence of the Executive Director and supervise staff.
Work with realtors, developers and government representatives to source and identify opportunities for the development or redevelopment of affordable housing throughout the Chicago metropolitan area. Oversee a project from start to closing. Find and evaluate development opportunities; conduct initial feasibility analysis; create a development strategy; negotiate purchase agreements; and work with community groups and elected officials. Obtain public approvals as needed. ?
Perform financial analysis and evaluate different investment scenarios. Prepare development and operational pro-formas and evaluates different financial scenarios using different sources of funds such as Low Income Housing Tax Credits, HUD financing and private financing sources. Prepare and submit applications to secure financing and negotiates financing terms.
Manage development team, including architects, general contractors, attorneys and other consultants necessary to develop a project; coordinate and monitor the work of the professional consultants; ensures work is finished and obtains internal approvals.
Supervise staff to monitor construction process ensuring timely completion of the projects. Oversees draws and monitoring cost and budget. Assist Senior Asset Manager with project transition by preparing documentation with essential project information for ongoing operation.
Advocate for affordable housing by giving public presentations, participating in community and public policy groups and conferences.
Other duties as assigned.
Bachelor or Master’s degree in any of the following fields of study: real estate development, finance, planning, or construction management. Education in other fields of study would be acceptable combined with appropriate work experience.?
Five years of real estate professional experience of which at least 3 years are in a senior position in a public and/or non-profit organization, real estate enterprise and/or developer. Experience with public financing of affordable housing as well as multi-layered real estate financing transactions.
Experience overseeing the real estate development process, from start to finish including design, acquisition, financing, construction and property stabilization.
Supervisory and management experience. Able to work independently and with limited supervision.
We offer a competitive salary and benefits. We provide equal employment opportunities to all applicants and employees in accordance with federal, state and municipal laws.
Please submit confidential resume to email@example.com attention Executive Director
About Chicago Metropolitan Housing Development Corporation