Vice President of Development

• Understands the NYS LIHTC and related funding applications, determines areas of opportunities and programs for housing needs in a variety of communities.
• Builds strong relationships with non-profit partners, service providers, funding agencies, and other development partners, entering MOUs and contracts with them.
• Conducts financial feasibility analyses by reviewing the potential sources of funds and uses of funds and creating both the project development and operating budget.
• Obtains local approvals and site control by working closely with various municipalities and overseeing submissions to zoning and site plan review boards by architects and engineers.

• Oversees the preparation of market studies, appraisals, environmental studies, and all other requirements needed by funding applications.
• Obtains and summarizes necessary community needs documentation.
• Works with banks, investors, attorneys, and funding agencies providing the documents they need to receive funding commitments.

• Oversees the construction closing by communicating with funders, partners, and attorneys, ensuring all their requirements are met and keeping the timeline on schedule.
• Represents RCG at construction meetings and resolves issues related to schedule, local permits, third-party professionals’ responsibilities, and funding requirements.
• Formally approves construction hard and soft cost draws, and coordinates construction change orders with the goal of keeping the project on budget and on time.

• Keeps property management informed of the project and expected (C of O)date with the goal of maximizing the equity upward adjustors.
• Oversees the permanent closing process, once the project is completed, making sure that all funders, investors, and attorneys’ requirements have been met and documentation has been satisfied.
• Ensures a smooth transition as Property Management assumes responsibilities for the completed project.

• Experiences frequent interruptions; required to meet inflexible deadlines; requires concentration and attention to detail; requires ability to problem-solve; requires a high level of organizational and prioritization skills.
• Requires ability to maintain confidentiality of information received.
• Requires ability to sit for prolonged periods; exposed to visual display terminal for prolonged periods; dexterity and precision required in the operation of a computer.
• Requires ability to lift up to 25 pounds.

• Unwavering commitment to the Company’s mission, values, and culture.
• Must be willing to contribute to harmonious and professional workplace environment, in which all individuals are treated with respect, supporting and upholding our zero-tolerance policy for harassment, discrimination, retaliation, or other prohibited conduct.
• BS degree in Real Estate Development or related field.
• Minimum of 7 years of real estate development experience, finance, banking, or law; NYS financed LIHTC project development experience preferred.
• Working comprehension of development and operating budgets.
• Demonstrated skill in correct grammar, spelling, and English usage: ability to read, write, speak, and communicate effectively and professionally.
• Strong leadership and organizational skills: models leadership by leading through example.
• Ability to problem-solve independently, at all levels.
• Ability to establish and maintain effective relationships with co-workers, administrative team, and the public: is committed to ongoing principles of creating diverse, equitable and inclusive strategies, as well as maintaining a professional office atmosphere and positive customer service attitude.
• Proficiency in Microsoft Word, Excel, and Outlook and ability to navigate the internet.
• Must possess valid driver’s license and New York State motor vehicle insurance.
• Possession and required use of a personal cell phone required.

Formed in 1990, Rochester’s Cornerstone Group has become a true leader in affordable housing development in New York State. Since being formed, Cornerstone has created or preserved more than 3,000 units of affordable housing across New York State and extending into Pennsylvania. These projects serve a wide range of people, including families, the elderly, individuals with mobility impairments or people with developmental disabilities. Cornerstone has also brokered dozens of commercial properties in the region, ranging from professional office space to vacant land to industrial parks, as well as developed multiple commercial properties, from new construction to historic renovation.