Project Leader Real Estate Originations
National Church ResidencesAbout the role
Job Description:
PURPOSE
As the Project Leader, Originations, you will focus on opportunities within their assigned region. You will be accountable for the success of affordable housing projects, third-party deal sourcing in targeted markets, deal underwriting, preliminary deal evaluation, negotiation of purchases and related documents, procurement of financing, management of third-party consultants, and coordination of internal resources to facilitate a successful closing.
ESSENTIAL FUNCTIONS
Identify, pursue and submit tax credit, bond, subordinate (FHLB, HOME, etc.) and lender applications to develop affordable housing communities.
Submit multiple tax credit applications each year. Close multiple tax credit transactions per year.
Obtaining not less than two revenue producing projects per year (9% awards and/or, 4% awards, acquisition projects, and/or third-party management contracts.
Identify and analyze new and existing senior housing development opportunities. Prepares reports on topics including market investigation, comparable sales analysis, competitor evaluation, and demographic research.
Actively involved in relationship building and policy-shaping with State Housing Finance Agencies, affordable housing owners, developers, brokers and others as needed. Develop and maintain a thorough knowledge of State Housing Finance guidelines, scoring criteria and regulations.
Identify and pursue project related subordinate (“soft”) funding such as FHLB funds, HOME funds, Housing Trust Funds, etc.
Prepares preliminary financial underwriting for potential new construction projects, substantial renovations and/or acquisitions.
Management and interruption of third-party consultants and reports.
Lead in community stakeholder outreach materials and strategies for new development projects.
Leads the zoning and entitlement process of housing developments.
Supports the preparation and negotiation of business terms of Purchase & Sale Agreements, including Partnership MOU’s.
Represent National Church Residences with various jurisdictional staff (city, county, state, etc.).
Review construction/rehab plans with Construction Management and third-party architects.
Manage critical financial and compliance deliverables by overseeing equity installment triggers, lease-up progress, cost certification and loan conversions.
Drive projects to completion/8609 issuance by coordinating all completion milestones, including and ensuring timely achievement of Pro-Forma lease-up and stabilized occupancy benchmarks and timely issuance of IRS Forms 8609.
Participate in strategic planning efforts for the Development Department.
Utilizing various development department resources, take the lead in tracking and satisfying project related critical path benchmarks such as entitlements, third party reports, design documents and construction approvals.
Provides support and guidance as required by Department leaders in such areas as project presentations for exte
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