What are the responsibilities and job description for the Vice President Development position at HRI Development LLC?
Based in New Orleans, Louisiana, HRI Communities (HRIC) is a full-service real estate development company focused on the creation and preservation of quality affordable, mixed-income, and workforce housing. HRIC is vertically integrated with expertise in development, construction, design, governmental relations, environmental matters, historic landmark designation, and property management. HRIC is constantly evolving to meet new challenges and seeks new projects to revitalize neighborhoods nationwide and deliver much-needed mixed-income housing.
HRI Communities’ developments require creative and complex financing structures, often pairing conventional debt and equity with public resources, including 9% Low-Income Housing Tax Credits (LIHTCs), 4% LIHTCs and tax-exempt bonds, 45L tax credits for energy efficiency, tax increment financing, restoration tax abatements, Payments in Lieu of Taxes, Federal and State Historic Tax Credits (HTCs), Community Development Block Grants (CDBG), HOME Funds, amongst others. HRIC excels in navigating complex public/private undertakings to ensure successful outcomes for all project stakeholders. Most importantly, HRIC promises long-term partnerships with public agencies and private financial institutions alike.
POSITION SUMMARY:
The Vice President of Development will direct the activities on their assigned projects to advance development projects and ensure that goals are accomplished within a prescribed timeframe and are consistent with both program requirements and key development objectives.
ESSENTIAL FUNCTIONS:
- Represents HRIC professionally in all respects to promote the company’s standing as a well-respected and successful leader in the real estate development community
- Provides comprehensive project development services from early planning/conceptualization; detailed program development; obtaining land use and zoning approvals; establishing financing/structuring opportunities, and closing on funding sources and property
- Serves as a company representative during the predevelopment process; directs the construction manager during the construction process; attends the Owner, Architect, and Contractor meetings; communicates project goals/needs to Development Finance; coordinates with the property management team during lease-up through stabilization; leads the conversion to permanent financing process
- Presents project concepts and details to government and community stakeholders and neighborhood groups to obtain buy-in and support
- Manages professional team, including builder, designer, surveyor, consultant, lawyer, etc., throughout the development process
- Actively monitors budget variances and employs cost containment and risk management measures during construction
- Seeks and evaluates new business opportunities, including identifying and responding to NOFAs/RFPs/RFQs
- Evaluates financing mechanisms for potential real estate projects
- Researches and makes recommendations on potential strategic partnerships and development opportunities
- Develops a market strategy for optimum market penetration that ensures successful financial objectives
POSITION REQUIREMENTS:
- Extensive experience with complex real estate development activities, including familiarity with LIHTC, 45L, HTC, CDBG, HOME, Mixed-Finance, various operating subsidies, and other programs
- Experience representing an organization during the development process
- Excellent verbal (written & oral) communication and quantitative skills, including proficiency in Word, Excel, PowerPoint, etc.
- Degree in business, finance, accounting, business, city planning, and related work experience with strong working knowledge of legal, contractual, and financing concepts
- A true self-starter capable of accomplishing complicated tasks with limited supervision
- Must possess strong time management and organizational skills with the ability to manage multiple projects concurrently
- Able to work collaboratively and effectively within a team
- Able to work flexible hours and travel as required
WE OFFER COMPETITIVE BENEFITS:
- Affordable Health Package (Medical, Dental, Vision, and Wellness Program)
- Employer-Paid Benefits
- 401K, including Company-Matching
- Paid Vacation, Holiday, and Sick Time
EOE/M/F/Vet/Disabled
