Job Title: Senior Vice President of Real Estate
Status: Full Time
Team: Real Estate
FLSA Category: Exempt
Immediate Supervisor: CEO of Opportunity Communities
Date Created/Revised: 9/12/18
OppCo is seeking a Senior Vice President of Real Estate (SVP of Real Estate) to provide strategic and development expertise for real estate projects serving partner communities. OppCo partners build stable homes within great neighborhoods, which serve as a foundation for thriving families and individuals. Our homes and neighborhoods promote healthy families as well as work, economic, and educational success. OppCo supports partners’ capacity to undertake diverse and complex real estate projects that expand the supply of housing and help build thriving communities.
The Senior Vice President of Real Estate is responsible for strategic, administrative and operational leadership for real estate development work undertaken by OppCo and its partner organizations in their home communities.
Strategically, the SVP will lead the work to leverage the OppCo platform to expand opportunities to meet the pressing demand for affordable and workforce housing, considering scale, capital, including ways to leverage partner’s financial strength, diversifying development types, asset management and cross-partner developments. The SVP will serve as a member of the OppCo leadership team, supporting work to expand capacity, efficiency and learning, and to recruit new members, and work closely with the Real Estate Directors of OppCo’s members.
The SVP supervises real estate staff to maintain an active development pipeline and ensure high-quality mission-driven projects are delivered on time and on budget, sustained by effective asset management, and with consistent and profitable results. The SVP’s goal is to create the right balance between efficiency (time and money) and mission impact, seeking to drive down development and operating costs, while producing projects that further the mission of creating livable thriving communities with opportunities for all residents. Affordable and market-rate housing forms the core of work, but partners also undertake other commercial projects.
Essential Job Functions and Responsibilities:
- Grow real estate pipelines by diversifying the financial models and types of developments that local community development organizations are accustomed to, in order to meet community needs for housing and commercial uses, expand the agency’s portfolio, and generate revenue for the agency’s annual operating budget.
- Create models and make recommendations on ways to leverage capital, including partners’ equity, to support real estate development.
- Supervise and provide guidance to directors of real estate through all phases of real estate development in order to produce developments on time and on budget, with strong operating performance for rental properties over time.
- Work closely with asset management to update and refine, as needed, OppCo’s systems for managing phases of a development’s life cycle, in order to deliver consistently high-quality homes and commercial space.
- Identify and assess ways to improve efficiency and capacity, including expanding the real estate team with staff who might serve all partners, e.g. construction manager or closing paralegal.
- Report regularly to OppCo’s CEO and Development Committee on the expansion of partners’ real estate work, feasibility analysis of potential projects, and the progress and risk management of ongoing projects.
- Assist with the recruitment of new partners or clients to join OppCo, with a focus on the benefits for real estate development.
- Develop and cultivate relationships with key stakeholders, with a particular focus on funders, investors, and policymakers who will help support and advance pipeline.
- Develop and cultivate relationships with key vendors to bring expertise to our team, while holding vendors to a high standard.
- Advocate for housing policies that will help make projects more feasible.
- Prepare multi-year cash flow and expense analysis, for the OppCo Finance Department’s budget planning.
- As part of the senior management team, prepare OppCo’s annual and five-year strategic plans for real estate development, coordinating with each CDC’s preparation of its own plans.
- Participate in regular meetings on asset management of member CDCs’ portfolios, collaborating with property, asset and resident services managers, and strengthening the loop of information from operations that informs development.
Other Non-Essential Functions
- Actively participate in OppCo’s senior leadership team.
- Participate in relevant industry forums and committees, such as CHAPA, MACDC, or ULI, to stay current with the field, and increase visibility for OppCo.
- Undertake initiatives that will further the organization’s mission and departmental goals.
- Attend networking events on behalf of OppCo and its member CDCs.
- Play a key role in the representation of OppCo and its member CDCs to the community, funders, investors, elected officials, and other key stakeholders
- Perform other duties as needed as part of senior management team of OppCo.
Qualifications and Competencies
- Must have a thorough understanding of real estate development, including familiarity with regulatory process, deal structuring, finance, design and construction management, and the ability to expand the scale of the real estate company’s business, in order to supervise real estate directors, assist with risk management and help make key decisions on individual developments.
- Experience with Low Income Housing Tax Credits and other affordable housing funding sources, and in other types of development, such as residential homeownership, community centers and a range of commercial uses.
- Strong critical-thinking, negotiating, problem-solving and decision-making skills; ability to apply strong business skills and judgment to complex and diverse situations.
- Ability to work well independently and as a team member, developing and sustaining relationships with a range of partners.
- Demonstrated strong cultural competence and ability to work in a diverse community. Experience working with low-income families, seniors and non-elderly disabled people. Prefer aptitude and interest in outreach/organizing, neighborhood planning, and community development.
- A commitment to equitable community development principles and outcomes.
- Strong work ethic, and a good sense of humor.
- Prefer experienced in managing more than one department at a time, and aligning departments’ work to meet the central goals of the agency.
- Bi-lingual language skills are desirable; prior personal or professional experience in one or more partners’ geographic areas is a valuable asset.
- Bachelor’s degree and a minimum of 15 years of experience in development or financing of affordable housing; Master’s degree in planning, real estate, or related field preferred and may substitute for up to 5 years of experience.
- Excellent verbal and written communication skills; ability to interact with all staff levels within the organization.
- Proficiency with MS Excel, PowerPoint, Word required. Knowledge of SalesForce or similar program, and Adobe Design programs, is preferred.
- Willingness to work a flexible schedule, including nights and weekends.
- Ability to navigate an active construction site safely.
The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
To perform this job successfully, an individual must be able to perform each essential function in a satisfactory manner. The requirements listed above are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
We offer competitive compensation and good benefits. Send a cover letter and a copy of your resume to firstname.lastname@example.org . We are an Equal Opportunity Employer and consider qualified applicants for employment regardless of expression, age, color, religion, disability, veteran status, sexual orientation or any other protected class.