Vice President of Development-Project Sourcing/Origination (Northeast U.S)

Description:

POSITION OVERVIEW:

The VP of Development is a strategic partner of the Company, responsible for the creation of a pipeline of affordable and workforce housing developments for the Annex Group. The role will own the portion of the development lifecycle from strategic market research to site/opportunity identification and land acquisition to funding applications and awards and will include project feasibility and investment committee approval.

ESSENTIAL FUNCTIONS:

Include but are not necessarily limited to the following:

• Leads Development Team to identify potential strategic commercial real estate investment opportunities within the affordable business plan of the company with the expectation of closing 2 to 4 deals per year
• Responsible for understanding State QAP (Qualified Allocation Plans) for new LIHTC developments across the United States Responsible for strategic responses to housing RFP’s that meet the needs of the Annex Group. Responsible for key relationships with stakeholders to foster public-private partnerships for new housing opportunities
• Train, mentor and manage Development Team within VP’s group
• Travel to visit potential investments to ensure the best investment for the Company and its financial partners
• Guides and oversees preparation of project proposals, pro formas, budgets, feasibility analysis, including determination of time and funding requirements
• Work with the Chief Financial Officer to develop and track predevelopment budget related to assigned projects
• Provide project status reports for the Executive Team

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• The work environment is that of a fast-paced office with minimal to high noise levels
• This position requires working independently as well as part of a team
• This position requires verbal and face-to-face contact with others daily
• Frequent use of a computer is necessary as well as all general office equipment
• The position requires client information be maintained appropriately confidential

Requirements:

QUALIFICATION REQUIREMENTS:

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, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Bachelor’s degree from an accredited institution in business administration, economics, finance, or real estate, complemented by a master’s degree (a plus) or other professional training with an emphasis on finance, economics or real estate
• A minimum of ten (10) years of relevant real estate development experience managing full-cycle processes associated large-scale premium developments and three (3) years LIHTC development experience and underwriting.
• Ability to understand and analyze financial reports
• Ability to use computer software/hardware to prepare and present financial, economic and other data from project proformas and other analytical reports
• Ability to understand architectural, civil and construction plan drawings
• Ability and willingness to effectively use other job-related technology tools

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an

employee to successfully perform the essential functions of this job. Reasonable

accommodations may be made to enable individuals with disabilities to perform the essential

functions.

• Frequent walking, standing, sitting within the work area
• Must be able to access and navigate each department at the organization’s facilities