The NHP Foundation · 8 hours ago
Assistant Vice President - Vice President
United States
Full-time
Remote
Senior Level
5+ years expThe NHP Foundation is dedicated to preserving and creating sustainable, service-enriched multifamily housing. They are seeking a mission-driven Assistant Vice President or Vice President of Development to lead expansion efforts in Nashville, overseeing affordable multifamily development and the implementation of housing projects from conception through stabilization.
AssociationCommunitiesHealth CareNon Profit
Responsibilities
The NHP Foundation seeks a mission driven Assistant Vice President (AVP) or Vice President (VP) depending on experience to join our team and lead expansion efforts in Nashville, TN
The candidate will oversee affordable multifamily development in the region and support NHPF’s efforts nationwide
The AVP/VP will be responsible for the full implementation of affordable housing projects from initial conception through stabilization, including public engagement, public and private financing, design and permitting, construction, and lease-up
The AVP/VP will represent NHPF in leading the transformation of an existing 821-unit apartment complex through a multiple phase development that may include over two thousand units, among other projects in the region
Specific Responsibilities will include, but not be limited to, the following:
Site analysis and selection, financial feasibility, schedule and budget, and securing community and political support
Create and maintain development budgets, operating pro formas, financial models, projections, and schedules using Excel. Utilize property financial statements, budgets, leases, expense information and market assumptions
Determine project feasibility, including financial structure, funding commitments, hard and soft cost estimates, pro forma underwriting, and due diligence analyses
Navigate zoning initiatives and entitlement with the municipality and stakeholders
Manage the design and construction processes with the support of NHPF’s internal construction management team
Communicate and write internal investment memos for approvals and identify transaction strengths and risks
Prepare public funding applications for 9% LIHTCs, 4% LIHTCs and Tax-Exempt Bonds, and available gap funds
Negotiate Letters of Intent with private lenders and investors
Apply creative solutions to unforeseen problems that arise and offer constructive input during the underwriting and the closing of transactions
Facilitate project inspections and tours with third party vendors and development team members
Manage and maintain development Gantt-chart schedule for key milestones
Ensure on-time and on-budget construction completion by attending Owner-Architect-Construction meetings, managing the draw process with lenders and investors, and tracking cash distributions via a Flow of Funds
Communicate NHPF’s mission, goals, and values to the broader community and specifically to state and local officials and the media
Facilitate, support and attend community and resident engagement initiatives through local partners
Work collaboratively with external partners including Joint Venture Partners, private lenders and investors, lawyers, architects, contractors, third parties, and government agencies to ensure deliveries arrive in accordance with the project schedule
Work collaboratively with internal teams including other acquisition and development managers, construction management, asset management, finance, and external affairs
Qualification
Required
Minimum of 5 years of experience in affordable multifamily development, driving deals as the lead
Bachelor's degree required. Advanced degree desired
Completion of multiple 4% or 9% deals front to back, including financial closings
Transaction experience, having managed the pre-development, LIHTC investor closing, construction, and final closeout processes
Knowledge of affordable housing finance, predevelopment planning, and government approvals
Understanding of the various federal programs that support affordable multifamily properties such as 4% and 9% Low Income Housing Tax Credits, Tax-Exempt Private Activity Bonds, RAD program, Section 8 rent support, and public housing authorities
Computer literate, specifically Microsoft Excel and other Office programs
Detail-oriented with a commitment to a high-quality work product
Ability to think independently and present viewpoints, both orally and in written form, in a thoughtful, concise, and professional manner
Strong organizational skills with the ability to perform tasks and achieve results independently and as part of a team and prioritize multiple assignments effectively in a dynamic work environment
Ability to work on project teams, sharing information for the overall benefit to the projects, our organization, and our residents
Passion in the field of affordable housing and for work in low-income communities
Preferred
Independent, self-starter, entrepreneurial, mission-driven, eager to be the face of NHPF on highly visible, transformative deals in Nashville, TN and surrounding markets
Company
The NHP Foundation
Our Strengths: The NHP Foundation business model combines a charitable mission with the management and financial discipline of a for profit enterprise.
11-50 employees
Funding
Current Stage
Early StageLeadership Team
Eric Price
President & Chief Executive Officer
Joseph Weatherly
Chief Investment Officer
Recent News
Company data provided by crunchbase