Manager of Real Estate Development

AKRON METROPOLITAN HOUSING AUTHORITY

Position Title:  Manager of Real Estate Development

Department:  Real Estate Development

Prepared Date:  2.21.2024

Reports To: Director of Real Estate Development

FLSA Status:  Exempt

Minimum Salary:  $70,500 

Summary

This position has the overall responsibility for assisting with the management of the Real Estate Development Department. Critical functions of this position include real estate development, finance, general real estate matters, program administration and federal, state and municipal regulatory compliance.  All activities must support AMHA's mission, strategic goals and objectives.

Essential Duties and Responsibilities

The below statements are intended to describe the general nature and scope of work being performed by this position.  This is not a complete listing of all responsibilities, duties and/or skills required. Other duties may be assigned.

 

Assists with the analysis, development and implementation of a comprehensive plan for AMHA’s real estate development and repositioning initiatives to maximize income and preserve/create asset value and income; assists with the development of hold/sell analyses and asset valuation.

Assists with the structuring, design, negotiation and supervision of real estate development and redevelopment transactions, including Choice Neighborhoods, bond financing, use of Low-Income Housing Tax Credits, grants and other mixed financing and HUD programs (RAD, etc.).

Identifies funding sources; fosters financial and business support for projects; explores and negotiates terms with lenders and investors; assists in securing grants and loans; conducts business due diligence reviews of complex financial agreements and loan documents.

Manages due diligence analysis of real estate development opportunities relative to insurance, legal, land, architectural and environmental issues.

Negotiates the business terms and manages real estate acquisitions, demolitions and dispositions.

Project manages the disposition of AMHA’s vacant lots.

Assists in monitoring changes in Federal and other regulations applicable to real estate development and works with co-workers to develop and implement procedures to ensure compliance.

Research, interpret, apply, and comply with HUD and other regulatory compliance.

Assists in planning and implementing Summit Lake Transformation Plan and otherwise assists with the Summit Lake Choice Neighborhoods initiative.

Handles general real estate matters (licenses, property line disputes, encumbrances, easements, etc.)

Ensures deadlines and program goals are met.

Assists with monitoring department expenditures and overseeing capital and pro forma operational budgets for projects.

Provides technical consultation and assists in the development of Request for Proposals as needed.

Assumes special projects as required; provides feedback and assists, when necessary, in the preparation of AMHA’s 5-Year and Annual Plans;

Fosters and maintains positive relationships with co-workers, residents, and community partners.

Facilitates cross-functional communication and cooperation.

Performs other duties as assigned.

Knowledge, Skills, & Abilities

To perform this job successfully, an individual should demonstrate the following competencies:

Skills & Abilities

Familiarity with affordable housing development, including financing resources (ex. LIHTC)

Strong knowledge of general real estate principles and practice, including transfer of real estate, deeds, title, due diligence, real estate closings, real estate finance, etc.

Ability to research and interpret federal and state rules and regulations

Financial management skills; ability to work with mathematical concepts and apply concepts such as fractions percentages, rations, and proportions to practical situations

Strong public speaking and writing skills; effective communicator

Critical thinking and analytical skills with a strong ability to problem solve

Demonstrated collaborative and team leadership skills

Demonstrated experience in managing complex projects with multiple partners and team members

Demonstrated ability to utilize own initiative, work independently and coordinate a high level of activity under a variety of conditions, constraints, and deadlines

Demonstrated ability to multi-task in a fast paced environment; possesses a sense of urgency

Learns and applies new information quickly

Takes ownership of issues and problems, even when originating in other areas

Ability to provide exceptional customer service to and communicate effectively with internal staff, partners and residents

Proficiency in Microsoft Office suite programs and Adobe and knowledge of Summit County’s Geographic Information System (GIS)

Additional qualifications and experience that may be considered:

Previous Housing Authority experience

Previous experience with LIHTC developments

Prior experience in comprehensive community planning efforts

Experience administering federally funded grants

Familiarity/Experience with Choice Neighborhood program

Minimum Qualifications

Bachelor’s degree is required in Urban Planning, Business Administration, Public Administration, Real Estate Development or other related field (Master’s degree or Juris Doctor preferred).

At least five years of commercial, mixed-use, or multifamily real estate experience is required. Previous affordable housing experience is desirable, but nor required.

Valid driver’s license

Physical Demands

Physical demands may include kneeling, reaching, pushing, manipulating, talking, hearing, sitting for extended periods, crouching, standing for extended periods, stooping, walking, lifting up to 20 lbs. and repetitive motion using a keyboard, telephone and calculator. The visual acuity requirements include viewing a computer monitor and extensive reading.

Work Environment

While performing the duties of this job, the employee may be asked to visit AMHA properties and/or construction sites and may be exposed to outside weather conditions. The noise level in the work environment is moderate.

AMHA offers a culture committed to diversity, equity and inclusion; comprehensive compensation and benefits program including, but not limited to: Competitive salary; Participation in the Ohio Public Employees Retirement System; Excellent medical, free dental and vision plans with minimal out of pocket cost; Basic Life insurance; Fourteen paid holidays; Paid vacation, personal and sick plans.