Downstreet Housing & Community Development
Director of Real Estate Development | Full Time
Location: 22 Keith Avenue, Barre, VT, USA
We are Downstreet
We are a private, mission-driven, not for profit organization dedicated to the creation of equity in opportunities for all through the power housing and its ability to connect people to the resources they need to thrive. We believe this to be the most impactful and efficient approach to strengthening the health and future of our local communities.
We know that our staff is vital to the successful fulfillment of our mission, and that we have a responsibility to ensure the stability of our programs and services by attracting and retaining the best talent Vermont has to offer. This understanding has lead us to devote a significant effort toward the continual improvement of our workplace with the ultimate goal of becoming a known and preferred employer in Vermont.
We offer competitive salaries and a robust benefits package in addition to a workplace that appreciates and understands the value of a healthy work-life balance. But what really sets us apart is the genuine dedication our entire staff has to working together in service to our communities.
We continually work to create opportunities for our staff so that they can pursue a fulfilling career carrying out meaningful work at our mission-driven organization.
Downstreet Housing & Community Development (“Downstreet”) takes a collaborative approach to real estate development. We work with strong development partners such as Housing Vermont, as well as a team of experienced professionals including the northeast’s premier tax credit accounting firm; a seasoned tax credit, real estate and corporate attorney and a skilled financial consultant.
The Director of Real Estate Development (RED) is responsible for the Downstreet’s affordable housing projects from conception to development completion. Projects include new development and rehab of single, multi-family and commercial development properties. Job responsibilities include hiring, oversight and supervision of Development staff and contractors, as well as coordinating with project funders, and internal and external partners.
Essential Job Responsibilities
- Work with Executive Director (ED) and COO to select potential development projects (rental and homeownership) based on Downstreet’s mission, location, affordability, community support and project feasibility, maintain a robust and realistic development pipeline and maintain an up-to-date development fee schedule.
- Analyze feasibility of projects and develop funding alternatives.
- Secure funding through applications to appropriate grant sources and financing entities and represent Downstreet at funding presentations as requested.
- Supervise and implement all activities necessary to project development including controlling costs, meeting grant conditions, attending to environmental testing, overseeing construction, etc.
- Prepare and maintain development budgets and schedules.
- Comply with applicable procurement requirements, hire and supervise contractors, including without limitation engineers, architects, project consultants and general contractors.
- Coordinate other Downstreet staff regarding project progress and ensure that co-workers have adequate notice to meet their respective responsibilities related to the project in a timely manner.
- Effectively manage all development risks and communicate with Executive Director and COO about relevant risk assessments as needed.
- Coordinate activities with Housing Vermont and other development partners.
- Maintain records and reports during project development phase.
- Represent Downstreet as appropriate to local and state government officials, planning commissions and other relevant groups.
- Ensure project completion in a timely and financially responsible manner.
- Understand legal documentation and requirements related to affordable housing development and prepare for project closings.
- Secure Board approvals for projects as needed.
Provide Redevelopment Services to Downstreet’s Existing Portfolio
- Conduct development responsibilities and activities outlined above for redevelopment of properties in Downstreet’s existing portfolio in consultation with the Director of Property & Asset Management (PAM).
- Track restrictions and opportunities for redevelopment in the existing development portfolio.
- Analyze re-development opportunities and pitfalls for ED, COO and Dir. of PAM.
- Develop pro forma and rehabilitation budgets for projects.
Technical Assistance & Outreach
- Maintain visibility, excellent relationships and good communications with funding sources, other non-profit organizations and the public.
- Provide development consultation services to partner organizations as requested, define scope of work for development services contracts and complete contracted activities.
- Determine fee for services.
- Represent Downstreet in policy making and advocacy arenas in consultation with ED and COO.
- Participate in community meetings as needed.
- Hire, supervise, train, evaluate, coach and mentor the development staff.
- Oversee the activities of the development staff.
Perform other duties as assigned.
Desired Job Qualifications
- A bachelor’s degree with emphasis in public or business administration, economics, planning or similar course work and/or equivalent experience.
- Experience with affordable housing development.
- A comprehensive understanding of federal and state housing programs including the Low Income Housing Tax Credit program and HUD affordable housing programs.
- Experience in real estate negotiations and purchase.
- Experience with grant writing and management, and project coordination.
- Ability to exercise sound judgment and initiative in solving problems.
- Must possess working knowledge of Word and Excel spreadsheets.
- Must have a valid driver’s license.
- Commitment to social and economic justice.
- Excellent ability to establish and maintain cooperative working relationships with residents, employees, Board members, government officials and the public.
Physical and Mental Abilities
The Director of RED must have the physical and mental abilities to perform the essential job duties listed above. However, reasonable accommodation may be extended to help perform those duties. The job entails evening and weekend work, significant travel and long periods of sitting at a desk. There may be prolonged periods of computer work. While performing the essential duties of this job the Director of RED may have to use hands and fingers, walk, stand, reach, or lift up to 25 pounds. Travel to meetings and presentations, walking prospective sites and being on-site regularly during construction. Wears safety gear, specifically work shoes/boots and hard hat as needed.
Employer Rights and Disclaimers
This job description is not a contract for employment. It is a list of duties and expectations. However, it should not be considered a complete list of expected duties. Duties may be added, dropped, or changed at any time.
The job qualifications may change at any time. Downstreet may add, drop, or change any qualifications for the position in order to fit changes in the organization. This job description should not be interpreted as a complete list of job qualifications.
This document does not extend an offer for permanent or continuous employment. Downstreet is an at-will employer.
Interested in joining our team? Here are some reasons to apply:
- 403 (b) with company match up to 4.5%
- Healthcare insurance
- Dental insurance benefits
- Life insurance and long-term disability benefits
- Generous paid leave allowances (vacation, sick, and personal time)
- 9 paid holidays and 2 “floating” holidays
- Professional development opportunities
- Coworkers who have each other’s backs and have created a friendly and professional work culture
Deadline: March 7, 2020 12:00 am
Please visit our website to apply by submitting a resume and cover letter explaining why you’d like to be part of the Downstreet team:
Applications without a cover letter will be considered incomplete and will not be reviewed.