Development Manager

"Together, we transform lives and communities!"

National Community Renaissance (CORE) is seeking qualified individuals to join our team. CORE is one of the nation's largest non-profit affordable housing developers with over a 25-year track record in community revitalization. We transform the economic and social future of communities by building quality, affordable housing combined with best practice social services to improve the self-sufficiency of our residents.

The position

The Development Department at National CORE is the bridge between the Business Development and Construction departments. The Development Manager reports to the Director of Project Development and is responsible for coordinating and closing the acquisition of assets, coordinating predevelopment and entitlement activities, securing financing and acting as a liaison during the construction process. 

Responsabilities

• Project and Loan Analyses: With input from appropriate staff, prepare all initial project proformas including NOI/Loan analyses, operating budgets, timelines and development budgets used in structuring transactions. Maintain and update database of key ratios and indicators that can be used in estimating project income, expenses, reserve amounts, soft costs, hard costs and development fees.
• Packaging of Project Acquisition/Funding Proposals: Coordinate preparation of financing proposals to local, state and federal agencies. This includes preparing responses to Requests for Qualifications and Proposals (RFQ/Ps) and Notice of Funding Availability (NOFAs), as well as preparing information packages for National COREs Board of Directors. Prepare business term sheets, which serve as the basis for all housing and regulatory agreements.
• Financing: Coordinate preparation of loan packages for acquisition, development, construction and permanent financing. Help to negotiate financing terms with lenders, investors and financing agencies.
• Meetings: Attend selected meetings with Business Development Vice Presidents and follow-up meetings with appropriate city staff, financial partners and lenders.
• Corporate Memory/Record Keeping: Maintain corporate memory for business points and financial structuring of each transaction in which he/she is involved. Provide office administrative staff with all closing and financing documents.

Experience

• Negotiation and structuring the purchase of land and apartments
• The due diligence process for multifamily properties
• Conventional and tax-exempt financing of apartment projects
• Proforma analysis/financial modeling
• Familiarity with the activities of cities, counties, states and the federal government in relation to affordable housing
• Specialized financing programs used in affordable housing such as Low Income Housing Tax Credits, HOME funds, tax-exempt bonds, various HUD programs, AHP and pledges of housing set-aside funds from local agencies
• Exposure to the construction process

Education

• Bachelor of Science degree, preferably in Finance, Real Estate Development, Management, Planning or related field.

Physical Requirements/Work environment

• Exposure to various types of weather conditions
• Standing, walking, sitting
• Driving
• Operate computer and office equipment

FLSA Code: Exempt

National Community Renaissance is an equal opportunity employer.