Deputy Director of Homeownership Underwriting and Predevelopment

Job Description

About the Agency:
The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

- We maintain building and resident safety and health
- We create opportunities for New Yorkers through housing affordability
- We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.________________________________________

Your Team:

The Office of Development leads the agency's effort in implementing the Mayor's Housing Plan. This is achieved in close collaboration with HPD colleagues and other City and state agencies.

The Division of Homeownership Opportunities and Preservation (HOP) within the Office of Development creates and preserves affordable homes to facilitate generational wealth-building, maintain housing quality, and address the legacy of discrimination, segregation, and concentrated poverty. We do so by providing financial assistance to low- and middle-income homeowners, limited equity cooperatives, and community land trusts. Programs within the Division include:

- The Affordable Neighborhood Cooperative Program (ANCP), which selects qualified developers to rehabilitate distressed city-owned occupied multi-family properties, managed by the Tenant Interim Lease Program, to create affordable cooperatives for low- and moderate-income households.
- The Open Door Program, which funds construction of cooperative and fee simple buildings to low, moderate- and middle-income families,
- Small Homes Rehab, which works with nonprofit developers to rehab existing public sites and privately owned 1-4 family homes to create affordable homeownership opportunities for low-income New Yorkers. Community Restoration Fund, which facilitate the acquisition of distressed mortgage notes from mortgage lenders and repositions these assets to preserve affordable homeownership and rental opportunities.
- The Plus One Accessory Dwelling Unit (ADU) program that finances ADU conversions in small homes,
- HomeFix and ProjectHelp programs provide access to affordable low- or no-interest and potentially forgivable loans and grants for home repairs as well as resiliency or energy efficiency improvements to eligible owners of one- to four-family homes in New York City in partnership with nonprofit organizations,
- The HomeFirst down payment assistance program, which provides financial assistance towards down payment and closing costs for first-time homebuyers,
- and special initiatives including Community Land Trusts, designed to ensure community stewardship of land and long-term housing affordability, and the Zombie Homes initiative, to facilitate repositing vacant and abandoned homes as affordable homeownership opportunities.

Your Impact:

The Division of Homeownership Opportunities and Preservation seeks a Deputy Director of Homeownership Underwriting and Predevelopment. The Deputy Director reports to the Executive Director of Homeownership & Shared Equity, the team within HPD that manages programs that result in newly created homeownership opportunities for low- and moderate-income residents. The team also oversees programs that support the rehabilitation of vacant properties into habitable homeownership units and leads the Agency’s efforts on Community Land Trust Initiatives, among other special projects.

Your Role:

The Deputy Director will assist the Executive Director and Program Directors by providing project management and underwriting expertise for ANCP, Open Door, and other homeownership and shared equity projects throughout the predevelopment stages of the development process. The Deputy Director’s portfolio may include some of the most complex or challenging projects under the team’s purview. It may also include policy development related to underwriting and securing financing for shared equity homeownership projects.

The Deputy Director will assist prog