Atlantic Housing Foundation is seeking a Senior LITHC Developer for our expanding team. This role reports to the Director, Development & Acquisitions and is responsible for building a pipeline of development and acquisition projects in the southeast. This role will be accountable for the full lifecycle of development projects from site identification and acquisition, financial structuring, overseeing due diligence, selection of design teams, coordination with construction teams, closing and monitoring schedules for on-time completion and commissioning the management takeover of each project to our in-house operations team. A similar lifecycle will apply to rehab projects.
Possess a ‘hunter’ mentality and decisive nature with a keen desire to serve the affordable housing cohort as supported by our core values.
Source qualified existing multi-family acquisitions and land sites that support ground-up developments aligning with the AHF mission
Ability to drive performance results on a timely basis with a sense of urgency in mind
Build and maintain a diverse pipeline of LIHTC, HAP, Workforce, senior and student housing opportunities.
Consummate all transactions under the precepts of the Foundation’s Core Values
Structure transactions leveraging thorough understanding of financial concepts (DCF, ROI, IRR, NPV, etc.).
Develop accurate financial models, A&E submittals, confirm economic incentives available and the best financial structure for each transaction
Analyze / verify project budgets and pro-forma assumptions
Effectively manage transactions driving all disciplines to a successful closing through project stabilization
Tap departmental resources to track milestone progress throughout the life cycle of each transaction.
Identify, establish, and maintain strategic financing partnerships (i.e. debt & equity lenders)
Articulate the AHF business strategy and organizational mission
Provide analytical research and financial feasibility supporting each new affordable investment opportunity.
Facilitate the creation and submission of financing applications to state agencies for the following types of financing:
Analyze and understand State Qualified Allocation Plans in connection with the submission of applications for 4%/9% Low Income Housing Tax Credits.
Manage all phases of the entitlement, engineering, architectural design and permitting process
Identify and analyze the major risks affecting each investment opportunity
Coordinate assignment of relevant work to various team members (construction, analysts, accounting, etc.) as needed to assure efficient transaction flow.
Close the following transactions that are in alignment with our mission and corporate objectives:
Required Skills and Qualifications:
Bachelor’s degree in BS or BA in Business, Finance, Real Estate or related field.
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
5+ years of multi-family real estate development and/or acquisitions experience.
5+ years of LITHC multi-family development experience
3+ years’ experience in previous financial analyst role
3+ years underwriting experience
A general understanding of, and demonstrated experience in, areas of real estate finance, property valuation and equity investment analysis
Natural ability to build community and partnership relationships
Possesses ability to comprehend legal language necessary to the acquisitions process
Proven ability to prepare and manage financial models (Excel based)
Proficiency with Excel, Word, and PowerPoint
Professionally present information on each transaction as well as anticipate and respond to detailed questions/clarifications
Comfort with a multi-functional collaborative environment utilizing a strong work ethic
Atlantic Housing Foundation, Inc. is an EEO employer - M/F/Vets/Disabled