Director of Real Estate Development

Position: Director of Real Estate Development

Location: 44 Washington St, Providence, RI 02903

Duration: Full Time

Job Details:

DUTIES:

Client is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

JOB FUNCTIONS

This position is responsible for promoting and marketing Client resources. The director will network and market to the

lending and real estate communities. Maintaining a positive public image of Client is a continuing responsibility of

division directors, and the incumbent represents Client in key community activities and industry organizations to provide

a high degree of positive visibility. Represent the agency to external parties by meeting with key stakeholders, including

businesses, civic and community leaders, developers, and other organizations involved in affordable housing and community

development. Identify affordable housing and economic development program opportunities, including recommending

improvements and/or enhancements to existing programs.

Incumbent develops and maintains working relationships with federal, state, and local government officials, developers,

builders, architects, lenders, non-profit groups, and other interested third parties regarding housing development policies and

program issues. They work with these groups to identify, analyze, and recommend solutions to the state's affordable housing

needs. The incumbent is a leading advocate in the State for sound and equitable housing policies that affect the state as a

whole and the lives of its people. Incumbent will use internal and external partnerships to develop new opportunitiesfor the

creation of housing policies and opportunities.

The incumbent will stay current on local, regional, and national housing and real estate trends. Supervise, train, and empower

division staff to ensure that funding recommendations and underwriting decisions are made prudently, based on thorough

credit analysis and sound design principles, as well as Client's funding policies and priorities. Incumbent manages the

workflow of employees; establishes and maintains performance standards; develops and reviews Board presentations;

develops and implements appropriate training programs; and provides assistance in resolving complex operational and

human resource issues. The position is also responsible for ensuring that federal, state, and agency programs are

administered in compliance with program rules and regulations and that resources are directed efficiently and effectively in

furtherance of the mission of Client. Incumbent develops and implements policies, procedures, and systems to effectively

administer a variety of housing programs, including, but not limited to, first mortgage loans, deferred loans, tax credits, equity

investments, construction loans, and federal insurance and subsidy programs. Incumbent ensures programmatic excellence

by conducting ongoing program evaluation to provide consistent and high-quality service to our partners and customers. The

position collaborates with staff and senior managers to evaluate and develop sustainable programs and services that meet

the needs of low- and moderate-income Rhode Islanders.

The incumbent is also responsible for encouraging and promoting the preservation and refinancing of existing affordable

housing developments. They ensure that underwriting, documentation, and closing procedures are in compliance with

internal policies and regulatory guidelines. In this regard, the incumbent stays current on applicable federal and state laws

and regulations, advises staff of changes, and maintains up-to-date procedure policies and manuals. The incumbent ensures

that the programs and services offered to customers and partners further Client’s mission.

This position supervises multiple RFP processes for all types of single and multi-family construction and rehabilitation funding.

The incumbent is responsible for ensuring the financial viability of all development activities and compliance with applicable

design, construction, and underwriting standards, as well as specific funding program requirements. Additionally, this

position oversees the provision of technical assistance to other divisions, aimed at preserving portfolios and protecting assets.

The average financing for multi-family developments ranges between $1 million and $15 million, and the annual

development pipeline for housing production, preservation, and asset protection activities averages over 2,000 units in 30 or

more projects. The incumbent is responsible for recommending and presenting all funding proposals and financing requests

to the Executive Director for final approval. Poor underwriting decisions could have significant consequences for Client's

earnings, bond and credit ratings, and public perception.

Assist in identifying sources of capital for lending programs. Incumbent coordinates all activities related to new initiatives,

financial planning, including the annual budget process, and strategic planning for the Development Division. In this regard,

the incumbent works closely with the Executive Director, Chief Financial Officer, and senior management team to ensure

efficient and effective utilization of financial and human resources.

PRINCIPAL ACCOUNTABILITIES

• Promote the development of affordable housing for a broad range of incomes and needs. Ability to develop and

sustain relationships within the community, exercising a high level of professionalism and tactful judgment.

• Work with government officials, developers, non-profit groups, and other interested third parties to identify, analyze,

and recommend solutions to the state’s affordable housing needs and to ensure a high degree of positive visibility for

Client.

• Ensure that the Executive Director is kept informed of all major issues and developments within the Division, and

perform special projects or research as assigned by the Executive Director.

• Ensure that funding recommendations and underwriting decisions are made in accordance with applicable policies and

program guidelines through appropriate direction, supervision, and training of staff.

• Ensure that data pertaining to all funding programs is compiled and maintained with the highest level of detail,

completeness, and accuracy, enabling timely and thorough reporting

• Develop and implement policies, procedures, and systems to effectively administer a variety of housing programs,

including the preservation and refinancing of existing affordable apartments.

• Supervise multiple RFP processes for all types of housing development funding to ensure financial viability of

developments, responsiveness to state housing needs, community and neighborhood revitalization, and compliance

with all regulatory requirements.

QUALIFICATIONS

• 10-15 years of broad-based management experience in real estate development, community development,or federal

housing program administration, including staff supervision and training, with demonstrated knowledge of

public/private financing, real estate investment analysis, and design/construction practices and procedures

• Outstanding interpersonal skills, with extensive experience managing a large, multidisciplinary team. Demonstrated

ability to lead and motivate staff toward departmental, organizational, and public policy goals, as well as a strong

aptitude for identifying, assessing, and nurturing talent within the department

• Requires experience in soliciting, evaluating, and structuring commercial real estate transactions

• Excellent verbal and written communication skills

• Strong analytical, negotiation, problem-solving, and organizational skills

• Bachelor’s degree in business, public administration, real estate, or related field (Masters preferred)

• Use of a personal vehicle, a valid driver’s license, and proof of insurance is required.

Job Type: Contract

Pay: $165,000.00 per year

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday

Education:

• Bachelor's (Required)

Work Location: In person

Salary : $165,000