Development Associate

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating and preserving quality affordable housing for low wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner of affordable housing with an expanding portfolio of owned assets across the country.

Our fast-growing organization is currently seeking an experienced Development Associate to join the expanding Development team. This individual is responsible for overseeing the planning and execution of the development projects with our multi-family development portfolio and repositioning of USDA financed rural affordable housing projects. This role involves supporting a development team and ensuring projects are closed on time and within budget. This position works in close coordination with HHAD’s Finance and Construction teams and is based in our Raleigh, North Carolina office, reporting to the Senior Director of Development.

The Development Associate is responsible for supporting the Development Team in the planning, and execution of the development projects with our multi-family development portfolio and repositioning of USDA-financed rural affordable housing projects. Reporting to the Senior Director of Development, this role includes ensuring projects are completed on time and within budget, and maintaining compliance with affordable housing regulations. The ideal candidate will bring some expertise in affordable housing, project management skills, and the ability to engage effectively with internal and external stakeholders, including investors, government agencies, and community partners. This position requires a great deal of autonomy and accountability, along with experience in critical thinking and problem solving, networking, and teamwork.

Primary Duties and Responsibilities:

• Strategic Leadership and Planning:
• • Support the Development Team in executing multiple affordable housing projects including new construction, acquisition rehabilitation and repositioning of USDA Rural Development multi-family affordable housing developments.
  • Communication with partners, vendors, local government officials, and state agencies to achieve development objectives.
  • Stay informed about industry trends, best practices, and changes in state and federal regulations related to affordable housing.
  • Assist in providing regular updates to the Development Team regarding project progress and key performance indicators (KPIs).
• Team Leadership:
• • Assist in the preparation and submission of high-quality applications, project plans, and other critical documents.
  • Assist in identifying process improvements to enhance development operations and outcomes.
  • Create agendas for and facilitate team project meetings, ensuring alignment and progress across all development efforts.
  • Foster a collaborative environment that encourages continuous improvement and innovation
  • Participate in Team Project Meetings and contribute to the progression of the project development
  • Ensure individual and departmental goals and objectives are achieved
• Project Development and Execution:
• • Assist in all phases of development, from concept to closing, ensuring adherence to budgets and schedules.
  • Monitor project schedules to ensure financial milestones are achieved as scheduled
  • Efficiently review a high volume of detailed project and portfolio level documents for scattered-site RD projects, providing quality control for funding and other applications
  • Understand program and governmental requirements
  • Collaborate with Finance and Construction team members to assist in the review of RD Preliminary Assessment Tools (PATs) to ensure consistent with USDA 515 Loan Transfer Applications, USDA 538 Loan Guaranty Applications, as well as LIHTC, tax exempt bond, and other financing applications to ensure quality control prior to application submission
  • Understand local, state, and federal regulations (including state QAPs) related to affordable housing financing, subsidies, and reporting
  • Assist in the review of project partnership and financial documents and ensure terms and conditions are consistently maintained
  • Assist in the management of Project Plans and reporting systems that measure key performance objectives
  • Assist in identifying risk and recommend mitigation and management strategies to address potential project delays, cost overruns, or community opposition
  • Monitor changes in laws and regulations to ensure ongoing compliance
• Stakeholder Engagement:
• • Assist in maintaining strategic relationships with potential and existing partners, brokers, institutional and equity partners, owners, lenders, and other key stakeholders in various markets
  • Represent the company in meetings with external clients, partners, as well as government agencies and pertinent officials as may be needed

Experience, Skills, and Abilities Required:

• Bachelor’s degree in business, real estate, finance, urban planning, or a related field; a master’s degree is a plus.
• Minimum of 2-4 years of progressive professional experience in affordable housing development, real estate investment, or a related field.
• Management of existing relationships with developers, owners, management agents, and brokers throughout the designated region.
• Experience reviewing relative property documents (operating statements, rent rolls, audits, loan documents, etc.); ability to process information including gathering, assessing, organizing, auditing, and verifying data.
• Knowledge of affordable housing mechanisms (e.g., programs such as LIHTC and tax-exempt bond financing, FHA mortgage insurance programs, as well as Agency debt products (Fannie, Freddie, USDA), and familiarity with other affordable housing funding programs and compliance regulations.
• Proven ability to participate in complex projects from inception through completion.
• Demonstrated excellent analytical, problem-solving, and decision-making skills with varying amounts of available information.
• High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects and successfully work under pressure of strict deadlines.
• Excellent written, oral, and public speaking communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing to diverse teams.
• Advanced computer skills (Microsoft Office Suite, Adobe, SharePoint, and SmartSheet and other similar programs).
• Exceptional customer service and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Ability to manage daily responsibilities and projects with minimal direction, while also working in close collaboration with a team to provide solutions where needed.
• Ability to maintain a “big picture” focus while attending to incredibly detailed work and providing thorough documentation.
• Resourceful, flexible and maintain the ability to react and respond quickly towards positive outcomes.