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Job Title: 

Chief Real Estate Investment Officer

Job Location: 
Salary Range: 
$133,948.28/yr.- $192,885.53/yr.
Full Job Description: 

HOUSING AUTHORITY OF THE CITY AND COUNTY OF DENVER

 

CHIEF REAL ESTATE INVESTMENT OFFICER          

http://www.denverhousing.org/

 

The Organization:

The Housing Authority of the City and County of Denver (DHA) is the largest Public Housing Authority in the Rocky Mountain Region and the largest landlord of subsidized rental housing in the city of Denver with 365 employees and an annual operating budget of $296 million. DHA is award winning and nationally recognized for its innovative approach to neighborhood revitalization and the development of sustainable, transit oriented mixed-income communities of choice.

DHA’s mission is to serve the residents of Denver by developing, owning, and operating safe, decent and affordable housing in a manner that promotes thriving communities.  Its vision is that every individual or family shall have quality and affordable housing, in communities offering empowerment, economic opportunity, and a vibrant living environment. 

DHA has a portfolio of over 12,000 units and housing choice vouchers, providing affordable housing to more than 26,000 very low-, low- and middle-income individuals representing over 12,000 families.  DHA offers a variety of housing programs including subsidized, affordable and market-rate housing and owns and operates approximately 4,000 conventional public housing units that are subsidized by the U.S. Department of Housing and Urban Development (HUD), nearly 700 subsidized multi-family units, and about 200 other locally funded housing units. 

 

DHA also administers the federal Housing Choice Voucher (HCV) program, formerly known as "Section 8". The HCV program makes it possible for low-income residents to live in privately owned rental housing throughout the city. DHA acts as an agent for HUD in this program, making subsidy payments to the private landlords of HCV program participants. DHA, on behalf of HUD, administers over 7,000 Housing Choice Vouchers.

 

In addition to federal programs, DHA has created various instrumentalities to explore and develop innovative techniques for providing alternative housing possibilities and avenues for achieving financial self-sufficiency for the low- to moderate-income residents of Denver. These programs have allowed DHA the flexibility to develop several public/private partnerships providing a variety of housing opportunities for Denver residents.

 

DHA strives continuously to support our residents towards economic self-sufficiency. DHA offers various programs for the children, youth, adults and seniors of our housing programs, which are designed to improve their quality of life. Innovative social ventures such as the Youth Employment Academy, Friends of DHA, Healthy Living Initiative, Connect Home Denver, the West Denver Renaissance Collaborative, and Osage Café exemplify how DHA has gone beyond housing to make meaningful impacts in the health and quality of lives of Denver’s lowest income and most vulnerable residents.

 

DHA is a quasi-municipal corporation governed by a nine-member Board of Commissioners appointed by the Mayor of Denver and approved by the City Council.

 

Position Overview:

The Chief Real Estate Investment Officer (CREIO) reports to the Executive Director and is a key member of the DHA Senior Executive Team. 

The CREIO will provide leadership and strategic direction to the Real Estate Division, including policies, procedures, and investment decisions for real estate development, acquisitions, dispositions, financing, marketing, and partnership activities for DHA. 

They work collaboratively with the Executive Director, Board of Commissioners, and other executive staff in financial planning, asset management and strategic goal setting. Responsibilities include development of capital investment policies and objectives, sourcing debt, equity, and capital grants to support the activities of the real estate portfolio, establishing portfolio level financial benchmarks, managing financial and development consultants in making investment decisions for the portfolio and accurately reporting to the Executive Director and Board of Commissioners.  

The CREIO will maintain relationships with government agencies, community stakeholders, residents, vendors, financial partners, and various associations for the execution of DHA’s real estate investment strategic goals.  They are accountable for the operations and performance of the following areas of development:  planning, design, financial structuring, capital deployment, market research and analysis, construction management, and evaluation of technical information to determine feasibility and economic impact of proposed projects and partnerships.

This is an outstanding opportunity for an experienced development executive to lead in an organization recognized as the largest self-developer in the affordable housing sector, a pioneer in innovative building structures, and committed to creating communities that thrive.

 

 

The Role:

Reports to:          Executive Director

Direct Reports:  Six (6) direct reports including Manager of Construction, Senior Commercial Portfolio Manager, Senior Portfolio Energy Manger, Senior Real      Estate Investment Asset Manager, Senior Developer/Director of Strategic Partnerships, Director of Community Initiatives

Location:              Denver, CO

 

 

Priorities of the position include but are not limited to:

  • Discuss, draft, and recommend a formal development policy; ensure a strong and steady pipeline of projects.
  • Supervise and complete DHA’s largest development, the Sun Valley Choice Neighborhood Grant.
  • Plan and recommend the possibility of applying for a second HUD Choice Planning and Implementation Grant.
  • Execute the implementation of an existing affordable housing bond and lobby for an additional bond upon close out of the initial bond.
  • Consider and recommend a private market housing development plan.
  • Institute and expand development project partnerships with a focus on social innovation.
  • Lead, motivate and continue to develop a high performing real estate development team who take pride in building assets in Denver.

 

Key Accountabilities:

Strategic Planning & Leadership

  • Provide strategic leadership and direction to the Real Estate Division in the formulation and implementation of policy standards, guidelines, and processes which direct the development of all DHA real estate development, acquisition, dispositions, financing, marketing, partnerships, and anticipate potential threats or opportunities.
  • Recommend and execute on capital investment policies and objectives; source debt, equity, and capital grants to support the activities of the real estate portfolio; establish portfolio level financial benchmarks; manage financial and development consultant in making investment decisions for the portfolio, and accurately report to the Executive Director and Board of Commissioners.  
  • Develop the department budget and establish goals and objectives of the department; identify required resources and develop plans for carrying out work in a timely and efficient manner.
  • Monitor and evaluate progress to ensure that projects and policies are being implemented and adjusted as necessary to accomplish DHA’s mission.

 

Project Management & Administration

  • Manage the Real Estate Division, which includes but is not limited to, project management, financing, design, construction management, and marketing.
  • Negotiate real estate development transactions that maximize return on investment to DHA.
  • Implement and monitor all aspects of DHA’s real estate development projects including, but not limited to, assembling property, financing and pro forma financial documents; responsible for the timely completion of projects within the scope of development plan.
  • Establish goals and priorities for each real estate development project and plan, schedule, and coordinate work activities through completion with the project team; plan, administer, allocate, negotiate, and monitor revenue and/or expenditures to ensure cost-effective management of projects.
  • Monitor the status of projects through all phases by regularly communicating with project team members and the Executive Director.
  • Attend meeting and strategy sessions to remain informed of DHA programs and activities, as well as other governmental programs and activities.
  • Conduct off-site physical inspection of real estate development projects, acquisitions, or dispositions.

 

External Relations & Partnership Development

  • Establish and maintain relationships with various city, state and federal agencies, community groups, residents, and the public to address complaints or inquiries or regarding DHA development requirements, policies, and procedures.
  • Participate in public presentations, leverage financial, political and community support for projects.
  • Conduct problem and conflict resolution with other agencies, developers, design professionals and owners with respect to project related issues, including, but not limited to, codes, ordinances, and professional standards.
  • Identify economic, political, and social trends that influence, affect, or have a significant impact on the department, or DHA’s policies and programs.

 

Organizational/Team Leadership

  • Recruit, develop, and retain a diverse workforce; promote teamwork, acceptance and productivity among persons exhibiting cultural, ethnic, gender, and other individual differences.
  • Partner with human resources to implement personnel policies to ensure accomplishment of DHA’s goals through effective recruitment, selection, training, performance appraisal, recognition, and corrective/disciplinary action; maintain effective employee relations and comply with agency and federal regulations, policies, and practices.
  • Assign and distribute work to direct reports, review work for accuracy and completion; provide support and recommendations for completion when appropriate.
  • Coordinate multi-disciplinary project teams comprised of senior staff members from various DHA departments for the review, approval and implementation of real estate projects; may include DHA consultants or other external entities.
  • Establish and maintain constructive and cooperative relationships with senior staff, peers, staff of other organizations, vendors, consultants, and stakeholder groups.

 

Candidate Profile:

Professional Experience:

  • Minimum 7 years’ experience in real estate development at senior project management level or higher; minimum 3 years’ experience in a management or supervisory capacity.
  • Demonstrated expertise in affordable housing real estate development, preferably in metropolitan districts and development of projects at neighborhood scale.
  • Demonstrated knowledge of local government as it relates to real estate development.
  • Track record of utilizing the following finance sources: New Market Tax Credits, Historic Tax Credits, LIHTC, HUD funding (PBV/ACC), and tax increment financing.
  • Expertise in tax credits, bond financing, and loans; mixed finance / mixed use finance experience desirable.
  • Strong understanding of county, state, and federal laws, rules, and regulations pertinent to development; knowledge of HUD Rules and regulations preferrable.
  • Proven ability to effectively plan, organize, implement, and monitor multiple assignments and projects from inception to completion, with minimal or no disruptions/problems.
  • Proven capacity to lead a talented team of development professionals and to get high performance from consultants.
  • Demonstrated ability to minimize confrontations, disagreements, complaints, and grievances and resolve them in a constructive manner; works with staff, peers, staff of other organizations, vendors, consultants, and local stakeholder groups to generate areas of agreement and joint action.
  • Experience working collaboratively with Registered Neighborhood Organizations (RNOs) and building positive relationships with people of diverse backgrounds and situations.

 

Personal Attributes:

  • Passionate about the mission and vision of DHA as a progressive leader in neighborhood transformation and community development.
  • Strong business acumen in financial and real estate development; highly numerate, strives for continuous improvement; translates goals into action.
  • Excellent relationship building skills; able to work effectively with all internal and external stakeholders; deals calmly and effectively with high stress/high pressure situations.
  • Skilled negotiator and problem-solver; makes well informed and objective decisions; accurately perceives the impact of decisions.
  • Superior mentoring, professional development, people management and leadership skills; models high standards of honesty, integrity, trust, openness, and respect for others by applying these values daily.
  • Adapts behavior and work methods in response to new information, changing conditions, or unexpected obstacles; effectively deals with ambiguity.
  • Strong public speaker and transparent communicator; able to gain confidence and trust of all DHA stakeholders.
  • Excellent written communication skills; expresses facts and ideas in a succinct/organized manner that is appropriate for context, time, and place.
  • Displays high standards of ethical conduct, calm under fire, and commitment to excellence.

 

Education:

  • Bachelor’s degree in business or public administration, urban studies, planning, finance, architecture, or related field.

 

Licenses:

  • A valid Colorado driver’s license is required. A good driving record must be maintained in accordance with the personnel policy. 

 

The Housing Authority of the City and County of Denver is an Equal Opportunity Employer

 

 

 

To Apply: 

If you or someone in your network is interested in exploring this opportunity, please submit a cover letter and resume to:

 

Website: http://www.denverhousing.org/Pages/default.aspx

 

 

 

Janet Albert                                                             Larry Griffin

Partner, Bridge Partners                                    Partner, Bridge Partners

janet.albert@bridgepartnersllc.com           larry.griffin@bridgepartnersllc.com

Date Posted: 
Wednesday, December 15, 2021
Application Deadline: 
Saturday, January 15, 2022
Posting Expiration Date: 
Sunday, February 13, 2022
Job Location Details: 
Denver Housing Authority

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