Project Manager

CTY Housing is an affordable housing developer that provides a wide range of financial advisory services to nonprofit and for profit affordable housing developers, public agencies, and nonprofit lenders. Our experience in accessing competitive financing and managing all phases of the development process on behalf of affordable housing developers, enables us to play a meaningful role in supporting public agencies, foundations, and lending institutions in underwriting and feasibility analysis. Through original research we have advised localities about developing and implementing policies and programs that preserve and produce housing.   We also support California’s community land trust movement through business planning and financial forecasting, conducting training, and financial advising on projects.  In 2022, we launched a statewide initiative to advance housing for transition age youth, which we hope will expand interim and permanent housing options for youth in foster care in Riverside, Los Angeles, and Contra Costa Counties. 

Our mission is to help families and individuals stabilize and grow by supporting private and public affordable housing providers with the development and financing of high-quality affordable housing in California. Our organizational values are: excellence, collaboration, trust, respect, and continuous improvement.

Headquartered in Los Angeles, the firm is pursuing joint venture development opportunities.   We are looking for an experienced Project Manager to join our team and grow with us. The ideal candidate has a high level of personal commitment to affordable housing and the community development field, demonstrates leadership in their work, creative versatility to apply their housing development skills in a range of methodologies that advance a wide variety of housing types as well as excellent communication and organizational skills, and proven ability to work independently. 

Job Description:

The Project Manager will report to the Principal and be responsible for advancing projects through every phase of the development process with minimal oversight, from predevelopment phase to Permanent conversion. In addition, this position is responsible for conducting financial feasibility analysis and deal structuring, due diligence, preparing and reviewing financing applications for consistency and accuracy, loan underwriting, analyzing financial statements, expediting approvals from public agencies, coordinating multiple parties, and executing construction closings and permanent conversions.

Skills and Qualifications:

Candidates will have a minimum of two years work experience and a bachelor’s degree, preferably in urban planning, business administration, public administration, economics, mathematics, or other relevant discipline.  At a minimum, candidates will need to have completed one construction closing and permanent conversion. Candidates are expected to be able to do the following:

Project Manage

• Prepare financial feasibility analysis
• Expedite governmental approvals
• Design and conduct community outreach
• Coordinate due diligence
• Sequence due diligence and financing applications
• Close construction financing

Deal Structuring:

• Prepare alternative financial scenarios
• chart a course for affordable housing projects in every phase of the development process,
• determine appropriate financing resources for a project and provide alternative financing scenarios
• have a sense of availability and competitiveness of different capital and operating subsidy programs,
• evaluate a project’s competitiveness for financing
• identify regulatory, or other obstacles confronting a project, and determine different courses of action for a project and develop strategies for mitigating
• financial feasibility analysis for acq/rehab and new construction opportunities
• familiarity with pricing for debt and equity
• review funding applications for consistency and accuracy
• respond to requests for additional information/clarification from parties in a timely and accurate manner.
• review funding applications for consistency and accuracy
• respond to requests for additional information/clarification from parties in a timely and accurate manner.
• Model financial structure

Underwriting:

• Analyze borrower financial statement
• Identify trends and irregularities in operations
• Identify risk and mitigants
• Make recommendations about conditions for commitment and disbursement that mitigate lender’s risk

Applicants will need to be able to manage multiple deadlines, stay focused on details while keeping the big picture in mind, work independently, approach work with a high degree of personal accountability and integrity, and communicate professionally with a wide variety of parties. Facility with Word, Excel, and Adobe Acrobat are also mandatory.  

Compensation: Competitive, depending on experience.

Please e-mail resume, cover letter, and contact information to:  [email protected]