What are the responsibilities and job description for the Development Manager position at Rocky Mountain Mutual Housing Association Inc?
Job Description
Job Description
The Real Estate Development Manager will be a strategic partner to the VP of Real Estate in determining long-term departmental vision and setting the course for future development and acquisition opportunities at Rocky Mountain Communities. The successful candidate will have in-depth, hands-on experience in all aspects of multi-family rental housing development, finance, and construction. The work will involve a focus on new construction and the acquisition / rehabilitation of affordable housing. The Development Manager will be responsible for all aspects of their projects, including entitlements, design, financial analysis and modeling, deal memo preparation, due diligence, legal oversight, budgeting, and construction. This position is a key team position that will provide the candidate with significant professional growth and exposure to all aspects of an affordable housing development project. This is an opportunity to experience the full development cycle of complex real estate transactions and be part of an expanding development team. This position will be based in Denver.
This full-time position requires occasional travel throughout Colorado to tour properties, attend meetings, and support organizational expansion, including developing and supporting new real estate partnerships and opportunities.
Company Overview :
Founded in 1992, Rocky Mountain Communities is a Denver-based nonprofit organization that owns, manages, and develops affordable housing across the state of Colorado. The organization’s mission is to build brighter futures by investing in resident-focused affordable housing and services that empower our resident individuals and families to thrive. At Rocky Mountain Communities, we believe that offering supportive and life-enhancing services is at the root of our communities.
Primary Responsibilities :
- Review and analyze the financial performance of existing developments.
- Assists senior management with assigned tasks related to the overall growth and management of the real estate, property management, and construction portfolio.
- Prepare detailed cost and cash flow budgets, estimates of project development, pro-formas, and other financial analyses for the development of projects.
- Performs tasks necessary to obtain neighborhood support, as well as local, municipal, and state approvals for proposed development plans, including submitting land use applications, attending zoning and City Council hearings, and neighborhood meetings to foster a team approach in obtaining neighborhood acceptance. Attend and present development concepts at community and city council meetings as required, often occurring after regular business hours.
- Coordinates the activity of architects, contractors, and other Development team members. Provides updates as necessary.
- Assist in assembling financing for new projects, including preparing tax credit applications, grant and loan applications, and documents associated with development and construction.
- Review legal documents in relation to LIHTC deal closings and interface with attorneys.
- Provide funders and insurance companies with due diligence items and other appropriate information.
- Coordinate and manage real estate closings for LIHTC multi-family apartment complexes (new construction and acquisition).
- Manage and support the loan draw process by working closely with the developer, general contractor, and lending institutions.
- Prepare financial, covenant, and complex compliance reporting to lending institutions, investors, insurance companies, and governmental entities.
- Assist in meeting lease-up targets and coordinating with the property management department.
- Assist in project closeout and obtaining required closeout documents such as 8609s.
- Liaison with internal and external business partners during the entire life cycle of the developments.
- Perform other duties and special projects as needed.
Qualifications :
Desired but Not Required Qualifications
Must be able to perform the essential functions of the job with or without reasonable accommodation :
Rocky Mountain Communities is an equal opportunity employer that is committed to diversity, equity, and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.
