Project Manager - Division of New Construction Finance (NCF)

About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

• We maintain building and resident safety and health
• We create opportunities for New Yorkers through housing affordability
• We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth. ________________________________________

Your Team:

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives.

HPD’s Division of New Construction Finance (NCF) is part of the Office of Development which create or preserve affordable housing in New York City. NCF, in collaboration with other government partners, will create approximately 4,000 units of new housing each year for extremely low to middle income households. NCF administers four loan programs:1) Extremely Low & Low-Income Affordability (ELLA) Program, 2) the Mixed Income Program (Mix-and-Match), 3) Mixed & Middle Income (M2) Program, and the 4) Neighborhood Construction Program (NCP).

Your Impact:

The Division of New Construction Finance (NCF) seeks to hire one (1) Project Manager for its programs, which includes NCP, ELLA, M2, and Mixed Income (Mix-and-Match) Programs. The Project Manager will manage complicated projects financed with tax exempt bonds, Low Income Housing Tax Credits, City subsidized loans, conventional bank loans, and other tools such as the disposition of City owned land and New Markets Tax Credits. Projects are often mixed-use with commercial and community facility components.

Your Role:

The Project Manager, under general supervision of the Directors will manage a portfolio of projects from predevelopment through construction, completion and conversion. The Project Manager will work with other divisions within HPD's Development Office to underwrite loans and manage projects through closing, construction, completions and conversions.

Your Responsibilities

Primary responsibilities will include but will not be limited to:

• Reviewing and analyzing project proposals and budgets;
• Performing financial analysis and underwriting;
• Managing, monitoring, and tracking all aspects of projects from predevelopment through commitment, loan closing, and construction;
• Defining and negotiating business terms to advance HPD's goals and policy objectives;
• Serving as a liaison to external partners, including for-profit and non-profit developers, banks, tax credit syndicators and investors, general contractors, and other government agencies;
• Reviewing and coordinating submissions of required CEQR, NEPA and other environmental review reports;
• Coordinating submissions of ULURP applications for UDAAP and disposition of City-owned property;
• Supporting the issuance of Requests for Proposals (“RFPs”) and/or Requests for Qualifications (“RFQs”) by performing financial modeling of anticipated affordability scenarios;
• Performing financial feasibility review of RFP responses and make recommendations to senior staff;
• Preparing, maintaining, and circulating written correspondences, documents, reports, and files regarding all assigned projects;
• Monitoring progress and performing troubleshooting duties for projects in construction;
• Providing analysis and other services for projects pending conversion to permanent financing;
• Assisting with rent-up or other asset management issues.

Preferred skills bulleted

• Excellent verbal and written communication and strong interpersonal skills, strong analytical, organizational, and quantitative skills.
• Advanced experience utilizing and developing complex Excel spreadsheets and presentation software is strongly preferred.
• Demonstrated ability to meet deadlines and manage multiple projects in a timely manner and to be a team player.
• Background in or knowledge of real estate finance and/or program implementation experience, preferred.
• Preference will be given to candidates with experience working for or with government agencies and government programs related to affordable housing development.
• Candidates with Masters in Urban Planning, Real Estate Finance, Real Estate Development, Business Administration, Public Administration or related fields are strongly preferred.

COMMUNITY COORDINATOR - 56058