Real Estate Development Manager

Reports To: Vice President, Real Estate Development

Department: Real Estate Development 

Classification: Exempt

Hours: Full Time, 40 hrs./week, Monday- Friday, Hybrid

Company Overview

Affordable Homes & Communities (AHC) is a mission-driven, non-profit organization committed to developing affordable, workforce, and mixed-income rental housing in the Virginia, Washington DC, and Baltimore regions. With a resident-centric approach, we manage over 8,000 apartment units in 50+ communities, providing educational programs and social services through our Resident Services team. 

About the Team

The Real Estate Development team offers a fun, fast-paced, environment in which to make a meaningful impact in our community through the creation and preservation of affordable housing. The team is responsible for identifying, acquiring, financing, and constructing/renovating multifamily rental properties. The team utilizes a wide range of affordable and conventional financing tools and partnerships to raise the capital necessary to finance innovative affordable, mixed-use, and mixed-income communities. The continued expansion of the Real Estate Development team provides opportunities for growth and upward mobility. 

About the Job

The Real Estate Development Manager role is broadly defined at AHC. Real Estate Development Managers have substantial autonomy and are responsible for initiating and overseeing the full range of development tasks from initial concept development through entitlement approvals, financing, construction completion, lease-up, and project close-out. Real Estate Development Managers work closely with AHC colleagues in other divisions to ensure alignment of mission and execution. 

Responsibilities

• Generate development budgets and pro forma to evaluate financial feasibility.
• Negotiate with lenders and investors to obtain acquisition, construction, and permanent financing.
• Work with land use counsel, consultant teams, and local jurisdictions to gain approval of land entitlements and/or financial support.
• Coordinate the underwriting and closing process, including document review.
• Present to senior staff, the AHC Board of Directors, community groups and local governments.
• Manage development consultant team members during all phases of development/construction.
• Identify new opportunities and lead efforts to obtain site control.

Qualifications

• Graduate degree in finance, real estate, urban planning, or other relevant discipline.
• 2 to 4 years' experience developing and/or acquiring multifamily affordable housing.
• Familiarity with the Low-Income Housing Tax Credit and tax-exempt bonds.
• Experience creating development budgets and working with real estate proformas to model complex financial structures.
• The ability to delegate tasks, teach, and supervise less experienced teammates.
• Desire to take ownership of projects while working well within a team environment.
• Ability to juggle multiple, complex projects.
• Strong interest in affordable housing and a passion for creating positive change.
• Knowledge of construction, property operations, and other applicable fields is a plus.
• Excellent oral, written, and interpersonal skills.
• Ability to work independently.

Working at AHC

AHC has a Hybrid Work Schedule with staff working onsite on our core days (Monday, Tuesday, and Thursday). Staff may work remotely on Wednesday and Friday.