Senior Project Manager

SUMMARY

Under the direction of the Director of Housing, the Senior Project Manager is responsible for all activities related to the development of at least three affordable multifamily housing developments.

Essential Duties

The Senior Project Manager will manage at least three (3) projects through the development process. Manage all aspects of the housing development process from site selection through predevelopment, construction, and permanent conversion until the project is transferred to property and asset management. Generally, the Senior Project Manager will manage the more complex and challenging projects within the development group’s pipeline with minimal direction.

This will consist of:

• Evaluating prospective development sites; processing land use approval.
• Supervising the design of the project to ensure consistency with ACOF’s design criteria, programmatic goals, and feedback from senior management, property management, asset management, and services.
• Securing and closing all acquisition, predevelopment, construction and permanent financing;
• Monitoring construction progress, payments during construction, and the construction budget.
• Transitioning the project and all pertinent documents and information to Asset Management, Property Management, and Services.
• Independently preparing project proformas and assessing the financial feasibility of proposed supportive housing developments while taking regulatory requirements and underwriting guidelines of the proposed funding sources into consideration.
• Tracking project expenses and managing the predevelopment and construction budgets to ensure the project stays within budget and complies with all lender requirements.
• Negotiating financing terms, loan agreements, and partnership agreements with equity partners and project lenders.
• Preparing and managing projects’ development timelines, driving project tasks, and managing project consultants/vendors to keep the project on track.
• Assembling and managing the project team including: selecting outside vendors, negotiating and preparing contracts, overseeing vendors’ performance, ensuring proper communication and coordination across the team, and monitoring compliance with contract terms.
• Ensuring accurate, timely and strategic communication with the project team, consultants, architects, partners, lenders, investors, community stakeholders, other departments within ACOF, and ACOF’s senior management.
• Working collaboratively with the services, property management, and asset management departments to coordinate lease-up and occupancy as well as obtain feedback on project designs, programming, targeting, unit mix, operating and services budgets and staffing, and operations related documents.
• Serve as single point of contact for projects on development related issues for all entities involved with the affordable housing project.
• Garnering community and political support by identifying stakeholders, assessing stakeholder interests, meeting with stakeholders, preparing presentations and other documents as necessary, attending and/or organizing meetings with stakeholders.
• Independently preparing accurate funding applications that meet applications requirements on time.
• Other duties as assigned.

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this job. Individual abilities may result in some deviation of these guidelines.

To perform effectively in this position, the Senior Project Manager must have:

• Four (4) years’ experience as a Project Manager directly managing low-income housing tax credit projects.
• Four (4) years’ experience preparing proforma financials for low-income tax credit housing developments.
• Ability to prepare a proforma for an affordable housing development from scratch.
• Prepared a minimum of four (4) funding applications for local, state or federal funding for low-income housing tax credit projects, including at least one (1) low-income housing tax credit application as the lead Project Manager.
• Closed construction financing for at least two (2) low-income housing tax credit projects as the Project Manager.
• Closed permanent financing for at least two (2) low-income housing tax credit projects as the Project Manager.
• Directly performed due diligence, site feasibility analysis, and financial feasibility analysis for at least two (2) affordable housing development sites.
• Negotiated loan terms and letters of interest with tax credit investors, construction lenders, and permanent lenders.
• Negotiated and assembled at least two AIA contracts for architectural services and ground up construction.
• Experience presenting at two (2) community meetings or public hearings.
• Ability to research and analyze the relative costs, benefits, and risks of potential problems or options and to determine the most appropriate course of action.
• Strong organizational and analytical skills along with problem solving abilities.
• Ability to coordinate financing closings with various lenders, investors and agencies.
• Ability to work effectively with peers and public and private lenders.
• Ability to work in high pressure, deadline driven environment and requires the ability to quickly adjust to changing priorities and demands.
• Proficiency in Microsoft Office Software (Word, Excel, Project and Outlook
• Valid California driver’s license.
• Ability to meet California minimum and ACOF insurance requirements.
• Access to a personal vehicle to be used to conduct ACOF business.

PREFERRED QUALIFICATIONS

• 5+ years of experience as a project manager.
• Experience preparing several City of Los Angeles Housing Department or Los Angeles Community Development Authority, 4% and 9% low-income housing tax credit, State of CA Housing and Community Development capital financing applications.
• Experience negotiating purchase and sale agreements for site acquisition.
• Closed construction financing for at least 3 low-income housing tax credit projects as the lead project manager.
• Experience project managing projects involving resyndication/financial restructuring or rehabilitating apartments with tenants in place.
• Strong knowledge of financing sources available for affordable housing in California.
• Bachelor’s/Graduate Degree in related field; e.g. urban planning, business, real estate development.