Are you a mission-driven nonprofit professional who has a strong commitment to preserving communities?
Do you have at least 5 years of experience in development or real estate finance, real estate development, or community development?
Can you demonstrate comprehensive knowledge of affordable housing guidelines, policies, and procedures at local, state, and federal levels?
We are currently in search of a Real Estate Development Project Manager for a Community Organization. The position is based in West Chicago. This is a full-time, permanent position.
ORGANIZATION TYPE: Community Organization
LOCATION: West Chicago
POSITION TITLE: Real Estate Development Project Manager
DURATION: Full-Time, Permanent
Is This Your Dream Job?
The Real Estate Development Project Manager will report to the Vice President (VP) of Real Estate Development, and work closely with the VP and Construction Manager. This person will play a critical role in project planning, site assessment, and property acquisitions. The Development Project Manager’s main duties also include packaging of financing, negotiations with lenders, management of pre-development stage, coordination of closing, project financial reporting, and real estate research. The Organization is seeking a mission-driven project manager with experience in affordable housing development who has comprehensive knowledge of local, state, and federal housing policies.
Our Ideal Candidate:
- A minimum of 5 years of work experience in development finance, real estate development, real estate finance, or community development required.
- Master’s Degree in Urban Planning or Finance preferred.
- Must have a commitment to community development.
- Access to a car, valid driver’s license and proof of insurance required.
- Proficient knowledge of Microsoft Suite (Word, Excel, PowerPoint, Outlook), Architectural software, Project Management and Internet programs required.
- Experience with MS Access and GIS mapping program preferred.
- Green Design and construction knowledge preferred.
- Possess strong analytical, mathematical and interpersonal skills.
- Demonstrated ability to successfully multi-task and manage time efficiently.
- Ability to create comprehensive pro-forma schedules for project proposals.
- Ability to: collect, interpret, and utilize data effectively; understand and utilize a variety of funding mechanisms; manage multiple projects effectively.
- Must be detail-oriented and have strong organizational skills, with excellent written and oral communication skills.
- Able to build relationships and work effectively with people of a diverse social, economic, and racial/ethnic backgrounds.
How You Will Spend Your Day:
- Closely monitor and advance the continuous process of pre-development through project closing, including, but not limited to: securing site control; following-up and scheduling with all members of the development team and financial partners; preparing and submitting items such as market studies and environmental reports.
- Perform all tasks related to project funding assembly: researching and maintaining a database of current affordable funding sources and application timelines; preparing funding applications; and securing all financing necessary to complete the project.
- Complete real estate development project funding applications, such as: Lenders, Low Income Housing Tax Credit (LIHTC), New Markets Tax Credits (NMTC), Federal Home Loan Bank (FHLB), City of Chicago (HOME), Illinois Housing Development Authority, Illinois Facilities Fund, and Local Initiatives Support Corporation among others.
- Complete due diligences of all financing applications submitted on behalf of real estate development projects.
- Create and complete assigned real estate development project pro-formas.
- Conduct financial feasibility studies and develop proposals for affordable housing projects.
- Prepare tax credit syndicator and new market tax credit investor selection processes for real estate development projects.
- Prepare architect and general contractor selection processes for any real estate development project.
- Complete all associated closing related documents as sole member of any Corporation (owner sworn statement), Limited Partner, and Limited Liability Companies (Tenant Selection Plan, Property Management Plan, Property Management Agreement, Fair Housing Plan, among others).
- Coordinate and closely monitor initial stages of project conception and formulation including, but not limited to: contacting community groups, residents and organizations for input in the development process; preparing and presenting development initiatives to the community, financial partners, elected officials, community organizations, staff and Board of Directors.
- Work closely with the Construction Manager in coordinating the pre-construction process.
- Complete the final project close out activities including, but not limited to: ensuring all benchmarks for final completion and payments are met; facilitating the conversion to permanent financing; securing 8609s; and completing cost benefit and quality control analysis of the project, including the initial functioning of green policies and systems.
- Coordinate and closely monitor along with Construction Manger the building completion and turnover process, including, but not limited to: facilitating turnover meetings with the General Contractor, Property Management, Asset Management and Organizing Departments; communicating critical information required for operations and maintenance; coordinating the turnover of relevant documents; creating punch-list and performing follow up inspections in conjunction with the Asset Management and Property Management Departments.
- Assist in maintaining working relationships with elected officials, City of Chicago Department of Planning and Development, Illinois Housing Development Authority (IHDA), Chicago Housing Authority (CHA), Federal Home Loan Bank (FHLB), equity syndicators, foundations, private banks, and any other funders.
- Obtain and analyze data on property sales prices, rent levels, commercial trends, household incomes, building operating expenses, zoning regulations, marketing, and construction costs, and utilize the data to identify sources and uses of funds and to prepare conceptual budget and pro-forma operating statements for perspective real estate development projects.
- Closely collaborates with Finance, Accounting, Asset Management and Property Management teams to ensure mutual understanding and support of each project.
- Provide routine status reports of projects to the VP of Real Estate Development and Executive Management team.
- Maintain current knowledge of guidelines, policies and procedures for HUD, IHDA, DPD, CHA, Low Income Housing Tax Credit, and all other housing development subsidy programs utilized.
- Maintain, coordinate and ensure paper and electronic document filing archive system for all housing development documents, and ensure all required reporting is carried out and submitted to partners, governmental agencies and others as appropriate.
- Assist the Asset Management Director along with Construction Manager, with the assessment of financial and physical needs of existing housing development projects in organization’s portfolio. When recapitalization is recommended for a project, carry out the housing development process in coordination with the Vice President of Real Estate Development.
- Act as a member of the Housing Development Team to ensure the overall effective operation of the Housing Development Department. Participate in community and resident organizing activities that have been deemed organizational priorities.
We’d love to hear from you.
If this sounds like the job for you, we would love to help make that happen. Please submit a resume to email@example.com with “Real Estate Development Project Manager” in the subject line.
Know a friend who would be a great fit? Feel free to send us their resume as well.
Is this position not a great fit?
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Due to the high volume of applications we receive, we regretfully can only respond to those candidates who best meet the requirements of a specific position or whose backgrounds are generally applicable to our client base. Please rest assured that we retain all candidate information for possible future matches, even if you do not hear from us in regard to your application in response to this ad.