Real Estate Development Director
Skid Row Housing Trust (the “Trust”) is a nationally recognized nonprofit corporation that produces, preserves, and operates supportive housing in and around downtown Los Angeles. The Trust serves the poorest and most vulnerable people in Los Angeles, including homeless individuals and those who may become homeless. Our VISION is that all residents of downtown Los Angeles have a home that is affordable and safe.
The Trust develops, manages and operates affordable homes for the homeless in the Los Angeles area. The Trust is a 501(c)(3) nonprofit organization that owns and operates 26 properties and is developing two properties that will be in operation in the next two years. Most of the properties receive subsidies under the Section 8 program through the Housing Authority of the City of Los Angeles.
Under the direction of the Chief Real Estate Officer, the Real Estate Development Director will manage the operations of the Real Estate Development Division and will supervise development project managers. Responsibilities include supervision and training of staff, program development, resource development for housing and community development projects, overseeing all development projects, managing relations with lenders and investors, and syndication of low income housing tax credit projects.
As of 2015, Skid Row Housing Trust has developed over 1800 units and has an active pipeline of ten projects totaling over 700 units and 25,000 SF of commercial, with approximately seven additional projects totaling over 350 units in business development. All 1,000 units are expected to come on line by 2020.
- Direct the operations of the Real Estate Development Department, including: manage and directly oversee project management staff in the development of a variety of housing and community development projects; oversee annual department budgeting; monitor revenue and expenses for the department; participate in strategic planning;
- Ensure the department accomplishes its annual community development and housing production as well as portfolio recapitalization goals;
- Assist and oversee project managers with the selection of and contacting with architects, consultants, contractors and other development team members;
- Review and approve all related contracts and agreements, ensuring proper review by legal and risk management;
- Ensure all development projects have a reasonably feasible development and financing plan. Assist and oversee project managers with financial underwriting and structuring as well as securing financing for all phases of development;
- Participation on the Trust’s business development committee to assist with the creation and development of the organizations business development strategy;
- Maintain and manage all lender and investor relationships;
- Manage and secure all working capital for development pipeline;
- Oversee and assist project managers with the negotiation with hard and soft lenders and equity partners on investment terms and conditions in the syndication of low income housing tax credit projects;
- Provide financial and consulting services to 3rd party clients;
- Coordinate the work of the Real Estate Development Department with other internal departments including, Accounting and Finance, Asset Management and Compliance, Property Management, Resident Programs, and Philanthropy and Communications;
- Obtain project approvals and present project updates to the relevant Committee(s) of the Board of Directors;
- Perform other duties as may be required and appropriate to carry out the organization’s mission.
Other Essential Duties and Responsibilities
- Assure a highly innovative, effective, productive, motivated housing development team, and train, manage and mentor housing development staff.
- Collaborate with key departments and programs to identify and design appropriate housing development strategies to support new and ongoing organizational initiatives.
Directly supervise the Housing Development staff. Carry out supervisory responsibilities in accordance with the organization’s policies and procedures and all applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Supervise and monitor individual staff performance to ensure:
- Timely completion of assigned projects;
- Timely and accurate delivery of real estate development activities and developer fees;
- Fair and reasonable allocation of workload;
- Understanding of the mission, goals, and objectives of the organization, as well as, the role of the individual in the department and the organization as a whole; and
- Provide guidance and training to staff in order for them to meet the expectations of their positions.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and/or abilities required.
Individual must be a self-starter, be able to take initiative, and make good decisions under pressure. Individual must be able to work well with employees and colleagues at all levels.
Education and Experience
- Bachelor Degree required; Graduate degree preferred.
- Seven (7) or more years experience in low-income affordable housing development preferably for a non-profit or government agency; at least two (2) years of supervisory experience.
- Demonstrated experience with public and private affordable housing funding resources and subsidy programs, including the low income housing tax credit program, tax exempted bonds, and syndication process; ability to creatively combine financing tools to leverage housing funds. Experience in loan underwriting and analysis of risk.
Language and Communication Skills
- Excellent interpersonal, presentation/oral and written communication skills.
- A proven ability to interact well with all levels in an organization, Board members, government officials, and community stakeholders, and to work as a productive team member.
- Able to communicate effectively with people from diverse cultures and backgrounds.
- Demonstrated ability to make clear presentations to people with a wide range of knowledge levels.
- An ability to compose correspondence and reports, knowledge of proper English, grammar and punctuation and the ability to edit documents is required with knowledge of a variety of written styles and formats.
High level of expertise in preparing pro formas and other financial analyses.
Reasoning, Critical Thinking, Judgment and Discretion Skills
- Strong analytical skills; effectively handle sensitive situations with complex variables where only limited information exists.
- Ability to work well with others, provide leadership and develop Housing Development staff.
- Ability to recognize and appropriately convey the sensitive nature of any situation and the ability to keep matters appropriately confidential.
High level of proficiency in sophisticated financial analysis using Excel and with word processing software such as Microsoft Word.
Other Skills and Abilities
- Evidence of the practice of a high level of confidentiality.
- Detail oriented and highly organized with the ability to multi-task.
- Demonstrated ability to work in a fast-paced environment.
- Flexible and adaptable to work plan changes and organizational changes.
- Passion for the mission of the Trust.
- Work in a collaborative manner as a member of a team. Demonstrate at all times cooperative behavior with colleagues and supervisors.
- Relate professionally and maintain positive relationships with colleagues and co-workers.
- Maintain a professional personal appearance at all times.
Certificates, Licenses, Registrations
- Proof of ability to work in the United States.
- Must have and maintain a valid California driver’s license and auto insurance at all times and have the availability of an insured vehicle to travel within the organization’s service area.
Compensation: Salary is commensurate with qualifications and experience. Benefits include, three weeks annual vacation accrual, 10 paid holidays, 10 sick days accrual; company-paid health, dental and vision insurance; STD, LTD, and life insurance. Voluntary benefits include: additional life insurance, critical and accidental insurance, discounted Metro TAP card, and eligibility to participate in 403(b) plan.
Skid Row Housing Trust is an equal-opportunity employer. Women and Minorities are encouraged to apply.