Director - Development & Acquisitions (Affordable Housing)

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COMPANY: Atlantic Housing Foundation, Inc.

TITLE: Director, Development & Acquisitions (Affordable Housing)

LOCATION:  DALLAS, TX

JOB DESCRIPTION:

Atlantic Housing Foundation is seeking a Director, Development & Acquisitions for our expanding team. This role reports directly to the President & Chief Executive Officer and is responsible for originating, coordinating, and executing on the rehabilitation of current assets and for the development of new construction multifamily projects across the organization

About Atlantic Housing Foundation:

Atlantic Housing Foundation (AHF), Inc. is a 501(c)3 not-for-profit affordable housing provider. Founded in 1999, we currently own and operate over 10,000 units of multifamily properties in 6 states and 37 cities. In addition to HUD HAP and LIHTC properties, Atlantic Housing owns and operates affordable housing, mixed-income multifamily assets, student housing and senior housing.

 

The mission of Atlantic Housing Foundation, Inc. is to promote and preserve quality affordable housing and related services for low and moderate income families, helping residents improve their lives. We will do this in a manner that will foster the continuous improvement of our people and our company. We strive to be a top performing, thoroughly professional and genuinely caring organization in all that we do. As an organization, we aspire to and believe in - Making a difference.

 

Why Should You Apply?

       You believe in the AHF mission and core values

       You are the best at what you do

       You meet the qualifications below

Benefits Offered:

       Paid every two weeks

       Certification & Training Reimbursement

       Opportunities for upward mobility

       12 Paid Company Holidays

       16 hours of Learning Time Off annually

       32 hours of Volunteer Time Off annually

       Competitive Paid Time Off accrual

       Rent discount if living on-site

       Multiple health care insurance plans that cover medical, dental, prescription, vision, employer HSA contributions, and supplemental health insurance

       Mobile phone reimbursement

Core Responsibilities:

      Lead, manage, and develop a remote development & acquisitions team that builds and maintains a diverse pipeline of affordable, LIHTC, HAP, Workforce, senior and student housing opportunities

      Lead, structure and staff a team to close 8-12 transactions per year, increasing to 15-20 per year

      Deliver and maintain a documented Development manual (proprietary to AHF)

      Review prospective development sites and present opportunities to the Investment Committee

  ●      Review comprehensive financial models and feasibility presentations
Analyze a Developer’s feasibility analyses, including detailed analysis of the market, comps, financial feasibility, land use issues and project design

      Review Real Estate Investment packages for presentation to lenders and equity partners.

      Lead, manage and support Developers from deal origination through stabilization o Entitlement process of development opportunities

o    Design coordination including architecture, civil engineering, landscape architecture, interior design, and related disciplines

o    Oversee all approvals and permitting for projects

o    Project management

o    Provide analytical research and financial feasibility supporting each new affordable investment opportunity

o    Analyze / verify project budgets and pro-forma assumptions

o    Financial and accounting functions for the project, including oversight of all project budgets, reviewing, and approving all invoices for projects, monthly draw preparation, and coordinating with corporate-level finance and accounting areas on the generation of periodic financial statements and reports

      Structure transactions leveraging thorough understanding of financial concepts (ROI, IRR (levered/unlevered), NPV, DSCR, NOI etc.).

      Ability to teach and develop accurate financial models, A&E submittals, confirm economic incentives available and the best financial structure for each transaction

      Possesses a depth of knowledge that illustrates the ability to Identify, establish, and maintain strategic financing partnerships (i.e. debt & equity lenders)

      Stay abreast of affordable housing market trends with regard to product design, product features, demographics and competitors’ activities, including maintaining a database of information relating to submarket development/construction pipeline data

Core Characteristics:

      Values accomplishing results through and with people while modeling Atlantic Housing Foundation’s Core Values

      Impeccable integrity prioritizing the organization’s mission over any individual agenda

      Articulate the AHF organizational mission and business strategy

      Passionate about a career in Affordable Housing development. Thrives on making a difference and positively impacting the quality of communities and the lives of residents

      Possess a ‘hunter’ mentality and decisive nature with a keen desire to serve the affordable housing cohort as supported by AHF’s Core Values

      An honest and open communicator who is highly team-oriented and not proprietary in their orientation

      Works collaboratively across the organization to establish inclusive partnerships; tap departmental resources to track milestone progress throughout the life cycle of each transaction

      Hardworking, “get it done” attitude; values a “roll up the sleeves” approach. Able to work longer hours when volume and deadlines dictate; is personally impatient for progress & results

     Organizational skills to effectively manage transactions driving all disciplines from pre-development to a successful closing through project stabilization


Required Qualifications:

●      Bachelor’s degree in BS or BA in Business, Finance, Real Estate or related field

      Master’s degree in related field preferred

      Demonstrate ‘A to Z’ track record in delivering successful multi-family projects on-time and within budget

      Conduct and approach must naturally fit with our culture and Core Values

      10+ years of multi-family real estate development and/or acquisitions experience

      7+ years of leading, managing, and developing direct reports within Development & Acquisitions

      7+ years of LIHTC multi-family development experience

      7+ years underwriting experience

      A general understanding of, and demonstrated experience in, areas of real estate finance, property valuation, and equity investment analysis

      Proficiency with Excel, Word, and PowerPoint, construction management software

Atlantic Housing Foundation, Inc. is an EEO employer - M/F/Vets/Disabled
 
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