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Illinois Housing Development Authority · 5 days ago

Assistant Director, Preservation

Chicago, IL

Full-time

Hybrid

Senior Level, Lead/Staff

$132K/yr - $165K/yr

10+ years exp

The Illinois Housing Development Authority (IHDA) is one of the Nation’s preeminent Housing Finance Agencies committed to financing affordable housing in Illinois. The Assistant Director, Preservation leads the Preservation Team, overseeing strategic direction and program management to enhance the affordability and operational success of the agency's multifamily portfolio.

Financial ServicesLendingReal Estate

Responsibilities

Lead the Preservation Team’s strategy and operations, managing initiatives that preserve IHDA-owned and financed assets

Serve as a senior advisor to the Managing Director and leadership team on preservation priorities, transactional strategy, and risk mitigation

Represent IHDA in high-level partnerships and collaborations with other government entities, financing institutions, developers, and advocates

Identify gaps in policy or practice and drive improvement efforts across departments and external agencies

Ensure preservation strategies align with regulatory frameworks and IHDA’s broader asset management goals

Direct the day-to-day operations and long-term planning of the Preservation Team in executing preservation initiatives in key areas including Real Estate Owned (REO) property management, Year 14 LIHTC outreach strategy, troubled asset resolution, portfolio stabilization/transactions, rental assistance program administration, physical inspections, and new program development

Serve as the primary escalation point for staff by recommending preservation policy, setting workflow priorities, assigning responsibilities, and overseeing the execution of strategic initiatives that stabilize and preserve affordable housing assets

Ensure the team’s work aligns with federal, state, and IHDA policies, identifying and implementing process improvements and policy enhancements as needed

Oversee the development and management of new and existing programs, including policy creation, RFP design, funding deployment, and performance tracking

Initiate proactive outreach to portfolio sponsors/property management agents by leading/staffing interdepartmental coordination to reduce financial, regulatory, and reputational risk in IHDA financed properties

Provide hands-on oversight and supervision in managing complex, high-risk, or multi-property transactions, ensuring compliance, effectiveness, and alignment with IHDA’s strategic goals

Supervise the creation and implementation of internal dashboards, reporting systems, and external data-sharing mechanisms to support transparency and performance evaluation

Support professional development and foster a collaborative, accountable, and mission-driven team culture that promotes innovation and customer service

Additional duties as assigned

Qualification

Affordable housing programsAsset managementStrategic planningFinancial underwritingProject managementTeam leadershipRegulatory complianceExcel proficiencyCommunication skillsCollaborationMentoring

Required

Bachelor's degree in real estate, finance, public administration, urban planning, or a related field required

Minimum of 10 years of progressively responsible experience in affordable housing asset management, preservation, or real estate development, including policy or project leadership

Minimum of 7 years of experience in managing a specialized or cross functional team of professionals responsible for financial and/or regulatory deliverables

Deep knowledge of affordable housing programs including LIHTC (Right of First Refusal, Qualified Contracts, and Syndication), HOME, Section 811 Rental Assistance, and Housing Trust Fund

Experience leading cross-agency or intergovernmental preservation efforts for at-risk multifamily transactions and/or portfolios

Ability to restructure financial underwriting as part of a work-out strategy, ability to mentor/supervise staff responsible for work-out strategies

Strong strategic planning, project management, and leadership skills

Familiarity with federal and state housing policies and regulatory compliance

Strong verbal and written communication skills, with experience presenting complex issues to executive leadership or governing boards

Proficiency in Excel, asset management systems, dashboards, and reporting tools