Note: The job is a remote job and is open to candidates in USA. Wesley Housing is a leading nonprofit developer throughout Virginia and the District of Columbia, focused on providing affordable rental housing for over 50 years. The Real Estate Development Project Manager plays a critical role in managing affordable housing development projects and advancing Wesley Housing's mission to develop and preserve high-quality affordable housing.
Responsibilities
- Manage all phases of the affordable housing development process, including feasibility, acquisition, due diligence, financing, entitlement, design, permitting, construction, closeout, lease-up, and stabilization
- Conduct project feasibility assessments and develop recommendations regarding financing strategies, market conditions, operational performance, physical viability, and organizational fit
- Identify, evaluate, and pursue new development opportunities, including responding to Requests for Proposals (RFPs), Requests for Qualifications (RFQs), and other competitive procurement opportunities
- Cultivate relationships with local governments, housing authorities, nonprofit organizations, faith-based institutions, and other potential partners to identify and advance affordable housing development opportunities throughout Virginia
- Monitor and coordinate development and design activities, ensuring compliance with Wesley Housing design standards, funding requirements, and organizational objectives
- Manage community, stakeholder, and resident relations in partnership with Property Management, Asset Management, and Resident Services, as appropriate
- Coordinate and oversee the work of project teams, including architects, engineers, contractors, construction managers, attorneys, lenders, equity investors, and other consultants
- Develop and manage predevelopment budgets, project sources and uses statements, operating pro formas, financing plans, and project schedules throughout the development lifecycle
- Prepare and secure predevelopment, acquisition, construction, and permanent financing, including loans, grants, tax credits, subsidies, and other public and private funding sources
- Lead debt and equity negotiations and oversee financial closings to ensure timely execution of project milestones and financing commitments
- Oversee construction activities, monitor project schedules and budgets, review change orders, manage project risks, and coordinate construction closeout and punch list completion
- Prepare regular reports on project status, financial performance, risks, key milestones, and projected activities for senior leadership, funding partners, and governing bodies
- Coordinate project transitions to Asset Management and Property Management, including preparation of turnover documentation and operational handoff materials
- Collaborate with Asset Management and third-party Property Management partners regarding resident relocation, lease-up, stabilization, operational performance, and long-term asset stewardship
- Support presentations and provide staff support to the Wesley Housing Board of Directors, Real Estate Committee, and other committees related to development activities and projects under consideration
- Assist in developing and implementing departmental goals, strategic initiatives, and business development objectives
- Establish and maintain productive relationships with local, state, and federal housing agencies, financing partners, community stakeholders, and industry organizations throughout Virginia
- Train or guide the work of other team members and provide mentorship and technical assistance on development-related matters, as appropriate
- May supervise, guide, and evaluate the work of an Associate Project Manager
- Conduct research and analysis regarding local, state, and federal regulations, programs, funding opportunities, and policy initiatives that may impact affordable housing development, preservation, and new construction activities
- Represent Wesley Housing at industry meetings, conferences, community meetings, and professional organizations, as appropriate
- Perform other duties as assigned
Skills
- Knowledge of affordable housing development, financing, and preservation programs, including applicable federal, state, and local regulations
- Experience with the Low-Income Housing Tax Credit (LIHTC) program is required
- Knowledge of affordable housing financing sources, including tax credits, public subsidies, conventional debt, government financing programs, and public-private partnerships is required
- Demonstrated ability to manage multiple projects simultaneously and effectively prioritize competing deadlines
- Strong financial analysis, organizational, project management, negotiation, oral communication, and written communication skills
- Ability to build and maintain productive relationships with public agencies, financing partners, community stakeholders, consultants, and development partners
- Proficiency with Microsoft Office Suite, including Excel, Word, PowerPoint, and Outlook
- Strong attention to detail and ability to work independently in a collaborative team environment
- Bachelor's degree in real estate, urban planning, architecture, engineering, business, finance, public administration, or a related field required
- Project Manager: Minimum of three (3) years of progressively responsible experience in affordable housing development, real estate finance, construction, or project management
- Senior Project Manager: Minimum of seven (7) years of progressively responsible experience in affordable housing development, real estate finance, construction, or project management
- Knowledge of HUD affordable housing programs, including multifamily housing and rental assistance programs, is strongly preferred
- Experience working with Virginia Housing, Virginia Department of Housing and Community Development (DHCD), USDA Rural Development, local housing authorities throughout Virginia, and other affordable housing funding agencies is preferred
- Experience developing or preserving affordable housing in Virginia, particularly within Southern, Central, Eastern, or rural Virginia markets, is preferred
- Experience working with nonprofit organizations and mission-driven real estate development organizations is preferred
- Experience managing multiple phases of the development process, including project feasibility, financing, entitlement, construction, and project closeout, is preferred
- Experience working with public funding sources, including Low-Income Housing Tax Credits (LIHTC), HUD, Virginia Housing, Virginia DHCD, USDA Rural Development, or other affordable housing financing programs is preferred
Benefits
- Health insurance
- Disability insurance
- Paid time off
- Cell phone stipend
- Opportunities for training
- A retirement plan with a company match
Company Overview