Job Information
LAFHBUILDS Director of Real Estate Development in North Hollywood, California
SUMMARY OF THE ORGANIZATION
For over 40 years, LA Family Housing Corporation has operated two very distinct businesses as a real estate developer and homeless services provider. In fact, in the early 1980s there were two different corporations formed: Valley Shelter (a homeless services agency) and L.A. Family Housing Corp. (a real estate development company). Due to shared vision, mission, and leadership of the two companies, legally merged in the late 1980s to become the LA Family Housing Corp (LAFH) that operates today: one of the most trusted and respected leaders in the homeless services industry as well as the affordable and supportive housing development sector. The early leaders of LAFH believed in the strength of this combined model, recognizing that the needs of the community were best served by the seamless coordination of housing and supportive services to effectively end homelessness in peoples lives. LAFH has operated under this combined model to advance our corporate mission to end homelessness and poverty in peoples lives with housing enriched with supportive services.
LA Family Housing Corporation has created LAFHBuilds, a separate and distinct legal non-profit affiliate corporation to develop, manage, and operate long-term multi-family real estate assets. LAFHBuilds will be a separate legal 5013 affiliate corporation. LAFHBuilds mission is to end homelessness and poverty in peoples lives by providing housing. We will continue with our community-based approach which allows us to influence how homelessness is addressed in Los Angeles and nationwide. We take tremendous pride in positioning our staff as national leaders in innovation, best practices, and policy within housing production and homeless services. From presenting at national conferences to facilitating service collaboration among providers in other regions, we equip our industry to effectively respond to homelessness and ultimately move more people home.
Join this incredible team of changemakers and start making a difference in peoples lives today at LAFHBuilds!
SUMMARY OF RESPONSIBILITIES
The Director of Real Estate Development (Director) is a key member of LAFHBuilds Executive Management Team, responsible for overseeing real estate development projects and activities, including providing direction and management to the Real Estate Development Team; developing new permanent affordable housing; rehabilitating existing rental properties; and managing the real estate portfolio, including retention of all property documents, such as loan covenants and entitlements. In collaboration with the Director of Asset Management, the Director of Real Estate Development will identify capital improvement and financing needs for the apartments. In addition, the Director staffs the Real Estate Committee of the Board of Directors and works with such in the strategic planning for the department.
SPECIFIC DUTIES
MANAGEMENT AND LEADERSHIP
- Manage staff recruitment, supervision, evaluation, coaching, development, motivation, disciplinary actions, and terminations as required.
- Set collective goals for the department.
- Coordinate the Real Estate pipeline with Finance, Programs, and Fund Development Departments.
- Staff the Real Estate Committee of the Board of Directors.
- Collaborate with Executive Director and/or Board Chair on agencys advocacy at local, state, and federal levels.
- Perform additional tasks, projects, and responsibilities as assigned by supervisor.
Maintain and execute confidential information according to HIPAA standards.
REAL ESTATE DEVELOPMENT
- Identify acquisition opportunities for development of new affordable rental housing.
- Assess the feasibility of new development opportunities, considering community/political support, funding priorities, and resource availability.
- Negotiate all acquisition and predevelopment contracts (site studies, appraisals, design feasibility, etc.
- Identify and secure appropriate financing for new developments.
- Manage design development, construction, and lease-up phases of development.
- Develop file project summaries for use in Property Management (Occupancy Standards), Tenant Services (resident service programs), and Finance Department (Asset Management/loan compliance).
- Build and maintain relationships with staff of public funding sources.
- Attend agency and community meetings as directed by the Executive Director and/or Board Chair.
PORTFOLIO MANAGEMENT
- Establish and maintain document retention system for monitoring and compliance of facility obligations (including loan documents, entitlements, and other covenant restrictions).
- Assess financial feasibility of entire real estate portfolio to determine long-term strategic plan relative to retention or disposition of non-performing properties (based on financial criteria and/or mission-based criteria to be determined).
- Analyze financial restructuring of TCAC properties prior to end of compliance period.
- Prepare quarterly reports on the status of LAFHBuilds(?) real estate assets for Board of Directors
MANAGING STAFF
Communicate company goals, safety practices and deadlines to team.
Ensure team member adherence to company regulations and performance goals.
Guide and support team members, fostering their growth and assessing performance.
Conduct timely performance evaluations and ensure submission to HR.
Develop work schedules, and review and approve timesheets.
Ensure staff attend and complete required trainings.
Actively participate in the hiring process, including interviewing, onboarding, and training.
Ensure departmental goals and outcomes are communicated clearly.
Maintain company brand presentation standards.
Position reports to: Executive Officer
DIRECT REPORTS
Number of employees receiving work direction: Six (6)
Position titles reporting to position: Sr. Project Manager (1)
Project Manager (2)
Associate Project Manager (1)
Associate Project Manager II-Pipeline Projects (2)
MINIMUM QUALIFICATIONS
KNOWLEDGE, SKILLS, and Abilities
Demonstrated experience with public and private affordable housing funding resources and subsidy programs, including the low-income housing tax credit program, tax exempted bonds, and syndication process; ability to creatively combine financing tools to leverage housing funds.
Strong real estate development experience, including local government procedures.
Exceptional organizational, detail-orientated, and analytical skills.
Advanced Excel financial analysis proficiency and expert knowledge in Microsoft Word.
Thorough understanding of management and financial practices in all areas and phases of business operations.
Excellent communication skills in public speaking and writing.
Effective collaboration with diverse community groups, including LAFH residents and neighbors of proposed developments, to listen and respond to community concerns.
Entrepreneurial and creative problem solving skills.
Ability to work a 9/80 work schedule, working 80 hours over nine days.
- Ability to pass post-offer Tuberculosis (TB) clearances.
- Personal vehicle use required for travel between worksites and other locations.
- Willingness to travel regularly, approximately 25% of the time.
- Must possess and maintain a current, valid California Drivers License and insurance in good standing.
EDUCATION AND EXPERIENCE
Education may vary; an advanced degree in urban planning and real estate, business administration, or related field