What are the responsibilities and job description for the Affordable Housing Development Senior Project Manager & Underwriter position at Mountco Construction and Development Corp.?
Position Summary: The Affordable Housing Development Project Manager & Underwriter plays a key role in the planning, financing, and execution of affordable housing projects from inception through completion. This individual will manage all phases of real estate development, including site acquisition, entitlements, design, financing, construction, and lease-up. As an underwriter, they will also evaluate the financial viability of projects and assess funding opportunities to ensure long-term sustainability and compliance with funding requirements.
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Key Responsibilities:
Project Management:
- Lead and coordinate the full development process for affordable housing projects, including acquisition, pre-development, construction, and stabilization.
- Oversee design and construction teams, working closely with architects, engineers, and contractors to ensure projects are delivered on time and within budget.
- Manage project timelines, budgets, and development schedules; monitor and mitigate risks throughout the project lifecycle.
- Prepare and submit applications for public and private financing, including Low-Income Housing Tax Credits (LIHTC), bonds, and other subsidies.
- Engage and coordinate with city, state, and federal agencies to obtain entitlements, permits, and approvals.
- Collaborate with legal counsel to manage contracts, closings, and regulatory compliance.
- Communicate with Tenants, Public, Public Officials, and Non-Profit Partners.
Underwriting:
- Analyze project pro formas, operating budgets, and financial statements to assess feasibility and long-term viability.
- Develop and revise financial models using Excel or other tools to evaluate various funding scenarios.
- Conduct due diligence on potential sites or acquisitions, including market analysis, zoning review, and title analysis.
- Prepare internal and external reports, including investment memos and board presentations.
- Evaluate risk and recommend funding strategies that align with the organization’s mission and financial policies.
Qualifications/Requirements:
- Excellent written and verbal communication skills.
- Highly organized with the ability to manage multiple projects and deadlines.
- Ability to travel to Columbia and Ulster Counties up to twice a week, including evenings for meetings.
- Knowledge of various affordable housing finance tools, including LIHTC.
- Experience with financial modeling and underwriting affordable housing projects.
Salary is competitive and commensurate with experience. All levels will be considered.