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RiseBoro Community Partnership · 1 month ago

Managing Director, Real Estate Development (50351)

Brooklyn, NY

Full-time

Onsite

Lead/Staff, Director/Executive

$175K/yr - $200K/yr

4+ years exp

RiseBoro Community Partnership is focused on developing and preserving affordable housing to enhance community potential. The Managing Director will oversee a robust pipeline of new construction and repositioning existing assets, ensuring projects align with RiseBoro's mission and financial performance standards.

CharityEducationNon Profit

Responsibilities

Advance RiseBoro’s real estate pipeline in service of RiseBoro’s mission

Ensure that all RE Development projects, embody RiseBoro’s core virtues: Respect, Integrity, Compassion, Equity and Empowerment

Work independently to ensure successful, timely and profitable projects, delivering on all development phases from predevelopment to operations

Identify and develop relevant key performance and risk indicators, assess emerging risks and opportunities, and develop executable plans to address all

Ensure RiseBoro’s development projects establish and meet high standards of financial performance

Lead analysis of potential new development deals, prepare investment memos for senior leadership and board review

Take an active role in the coordination of RiseBoro’s response to competitive development RFPs and RFQs

Seek and identify new opportunities to expand the RB Development Pipeline

In coordination with the Director of Asset Management, develop and execute repositioning strategy for existing assets

Provide mentorship and training to Project Managers. Take an active role in on–the-job learning opportunities for less experienced team members. Leading by example, imbue best practice underwriting, operationalize process to improve productivity, and ensure excellence in program management to achieve RiseBoro’s goals

Cultivate and curate strategic relationships to enhance the organization’s impact and reach, including those with key funders, investors, development partners, government agencies, tenants, elected officials, and other stakeholders

Participate in industry events, represent RiseBoro on applicable working groups and task forces

Identify and advance cross-functional collaboration opportunities within RiseBoro

Qualification

Affordable housing developmentReal estate underwritingFinancial performance standardsLow-income housing tax creditsBond financing transactionsMicrosoft ExcelProject management experienceCommunication skillsInterpersonal skillsOrganizational skillsCollaboration skillsMentorship abilities

Required

Core affordable housing development experience

Excellent financial underwriting acumen

Proven track record driving deal completion and profitability from start to finish

Passion for RiseBoro's mission to unleash the potential for communities to thrive

Ability to advance RiseBoro's real estate pipeline in service of RiseBoro's mission

Ability to ensure that all RE Development projects embody RiseBoro's core virtues: Respect, Integrity, Compassion, Equity and Empowerment

Ability to work independently to ensure successful, timely and profitable projects, delivering on all development phases from predevelopment to operations

Ability to identify and develop relevant key performance and risk indicators, assess emerging risks and opportunities, and develop executable plans to address all

Ability to ensure RiseBoro's development projects establish and meet high standards of financial performance

Ability to lead analysis of potential new development deals, prepare investment memos for senior leadership and board review

Ability to take an active role in the coordination of RiseBoro's response to competitive development RFPs and RFQs

Ability to seek and identify new opportunities to expand the RB Development Pipeline

Ability to develop and execute repositioning strategy for existing assets in coordination with the Director of Asset Management

Demonstrated progressive experience in low-income housing tax credits (9% and 4%) transactions, bond financing transactions and Year 15 transactions, the affordable housing industry, and sustainable development practices

Demonstrated advanced experience in real estate underwriting

Demonstrated knowledge of city and state agencies, programs, and development processes

Demonstrated management/supervisory experience

Excellent oral and written communication skills

Excellent interpersonal and relationship management skills

Self-starter with a passion for urban planning with a sense of social responsibility

Highly organized with strong attention to detail

Ability to manage and execute multiple critical priorities

Ability to foster an environment of collaboration and maintain positive working relationships

Proficient in Microsoft Office Suite; specifically, advanced Microsoft Excel skills

Commitment to RiseBoro's mission, vision, and values

Commitment to the development of affordable housing and the desire to meet and exceed NYC's carbon emission reduction goals

Ability to understand the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities

Commitment to supporting communities who have experienced systemic oppression and/or bias (i.e., people of color, LGBTQ+ people, immigrants, justice-involved persons, etc.)

Bachelor's degree required

4-8 years of project management experience in affordable housing, development, or related experience

3-5 years' experience underwriting NYC affordable housing transactions

Preferred

Master's degree in Real Estate, Urban Planning, Business, or similar field

2-3 years supervisory experience

Company

RiseBoro Community Partnership

Since 1973, we've offered services designed to support every generation and meet the needs of the communities we serve— Seniors, Housing, Education, Health, and Empowerment.

Founded in 1973

Brooklyn, New York, USA

1001-5000 employees