Boston Housing Authority · 2 weeks ago
Senior Housing Development Manager
Boston, MA
Full-time
Onsite
Senior Level
$116K/yr - $151K/yr
5+ years expBoston Housing Authority (BHA) is committed to building and supporting healthy, sustainable communities through innovative housing production initiatives. The Senior Housing Development Manager will lead efforts in managing the $110M Housing Accelerator Fund by focusing on origination, processing, and closing of multifamily real estate transactions involving public investment.
Government Administration
Responsibilities
Review information submitted by potential borrowers, including proposals from public agencies, non-profits, for-profits, and internal BHA divisions
Input financial data into the underwriting model and build financial projections using tools such as Excel, Google Sheets, and specialized models (e.g., LIHTC or mixed-finance underwriting models)
Conduct financial analysis and proposing alternative financing scenarios where necessary and provide feedback on important documents including term sheets and conceptual loan proposals
Prepare key documents including term sheets, conceptual loan proposals, financing plans, and summaries for BHA leadership team
Serve as a liaison to both external and internal partners; including MassHousing, the City of Boston, private lenders, and BHA divisions to understand deal objectives, constraints and priorities
Initiate calls and conduct high-level feasibility screening by reviewing preliminary underwriting loan information including sources & uses, income and expense statements, operating budgets, cash flows, mortgage credit, design & technical, market data, third-party reports (e.g., appraisals, environmental, engineering, cost estimates), and other documents
Review and assess pro formas, gap financing needs, operating projections, and deal-level cash flows using Excel-based or proprietary financial modeling tools
Coordinate due diligence activities, including collection and analysis of borrower financials, legal documentation, development team qualifications, and title/survey materials
Communicate with potential borrowers and request information as needed
Execute a wide variety of special assignments, including but not limited to research on industry and BHA business metrics, the creation of analytical tools, assisting in the creation and management of mission driven debt and grant programs and any other assignments that may emerge as party of BHA business
Oversee underwriting timelines, loan structuring, and present investment recommendations to loan committees or other approval bodies
Oversee loan closing management and execution investment agreements, loan documents, guarantees, and related instruments in coordination with legal counsel
Administer the origination and underwriting model to ensure accurate analysis and loan structuring by developing and maintaining templates, dashboards, and underwriting tools to ensure consistency, transparency, and scalability
Track performance metrics for the investment portfolio, including pipeline activity, risk exposure, and financial returns
Conduct research on housing finance innovations, public subsidy programs, and investment best practices; stay current on tools like Procore, CoStar, and industry databases
Performs other related duties as required
Qualification
Required
A minimum of 3-4 years of experience in Mortgage Underwriting or Credit Risk Underwriting
At least 5 years of substantive background in real estate, finance, housing development or investment
Experience must include working with transactions that include affordable, market rate housing, and mixed-used development
Must be familiar with processing and closing multifamily financing transactions
Must demonstrate experience with equity investment in real estate projects as well as financial underwriting and modeling
Superior financial and analytical skills necessary
Must demonstrate an ability to manage multiple projects and tasks and adapt well to changing priorities
Must be highly organized, have great attention to detail and possess strong verbal and written communication skills
Preferred
Bilingual Candidates are encouraged to apply
Benefits
14 paid holidays
4 personal days
3 weeks’ vacation
3 weeks of paid sick leave
MBTA discount
Participation in the City’s pension plan
Healthcare through the Commonwealth
And much more
Company
Boston Housing Authority
Boston Housing Authority (BHA) provides affordable housing to more than 58,000 residents in and around the City of Boston.
501-1000 employees
Funding
Current Stage
Late StageCompany data provided by crunchbase