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Director of Development - Affordable Housing Development
Location:
Houston, TX
Description:
ELMINGTON CAPITAL GROUP Elmington Capital Group is a private commercial real estate investment and development firm headquartered in Nashville, Tennessee. Elmington Capital's core competency is multifamily development and is one of the nation's largest developers, owners, and managers of affordable/workforce housing. Elmington deploys $200+ million in equity annually utilizing a broad array of financing strategies including tax credits, tax-exempt bonds, local grants, HUD programs, and conventional debt/equity. Elmington's development strategies include attainable/workforce and affordable (rent-restricted) housing, public-private partnerships, mixed-use, and mixed-income development. RESPONSIBILITIES The Director of Development, Texas is responsible for leading a Texas-focused deal team on executing all functions of development for affordable housing and multifamily projects with a focus on financial analysis, due diligence, policy research, site selection, entitlements, and overall management of the development process from inception to groundbreaking. The role will focus on identifying new construction LIHTC and mixed-income developments across Texas. Source land opportunities and negotiate Purchase and Sale Agreements with brokers/owners. Perform complex financial analysis using Microsoft Excel. Lead all Closing processes including equity, construction loan, and perm financing agreement negotiations and equity/debt due diligence closing checklists completion. Lead the preparation of applications for various funding sources including tax credits, tax-exempt bonds, project-based vouchers, CDBG funds, PILOTs/tax exemptions, local soft money programs, and RFPs. Research affordable housing policy and traditional multifamily dynamics in target markets. Track local supply/demand, comparable properties, competitive landscape, market rents, and other local dynamics. Lead all rezoning efforts to obtain necessary entitlements. Direct the internal project team and outside consultants including architect, engineer, environmental, and political to complete due diligence, design, and permitting. Research, create, and implement new financing strategies. Develop and maintain strategic relationships with elected officials, brokers, other developers, property owners, city staff, and other key stakeholders. KNOWLEDGE/SKILLS/ABILITIES Knowledge of major Texas markets Experience with TDHCA and local affordable housing processes Passion for real estate development Communication proficiency Real estate investment financial modeling QUALIFICATIONS 5+ years LIHTC & multifamily finance experience Bachelor's degree required, Master's degree preferred The company will recruit, hire, train, promote, and compensate its employees based on factors such as work quality, behavior, training, and experience. In compliance with local, state, and federal laws, we provide equal employment opportunity regardless of race, color, creed, national origin, protected age category, gender, sexual orientation, religion, marital status, military status, or physical or mental disability of any individual who is otherwise qualified.
Company:
Elmington
Posted:
December 26 2023 on ApplicantPro
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More About this Listing: Director of Development - Affordable Housing Development
Director of Development - Affordable Housing Development is a Sales Director Of Development Job at Elmington located in Houston TX. Find other listings like Director of Development - Affordable Housing Development by searching Oodle for Sales Director Of Development Jobs.
Director of Development - Affordable Housing Development is a Sales Director Of Development Job at Elmington located in Houston TX. Find other listings like Director of Development - Affordable Housing Development by searching Oodle for Sales Director Of Development Jobs.