Position: Director of Real Estate Development
Job Location: Macon, GA
Position SummaryThis position is responsible for planning, evaluating, and directing real estate development initiatives that advance the mission of the Macon-Bibb County Housing Authority and its affiliated entities. The Director will lead all phases of affordable housing development with a strong emphasis on the Low-Income Housing Tax Credit (LIHTC) program, including site identification, market and financial feasibility analysis, acquisition, project underwriting, deal structuring, tax credit application preparation, financing procurement, design development, governmental approvals, construction oversight, lease-up, stabilization, and project closeout. The successful candidate will have direct experience leading multifamily affordable housing developments from project conception through conversion and permanent financing, coordinating development teams, investors, lenders, state agencies, and public partners throughout the process.
Essential Duties and Responsibilities- Lead the development and execution of LIHTC-funded multifamily housing developments from predevelopment through project stabilization.
- Prepare, coordinate, and oversee competitive LIHTC applications, including interaction with state allocating agencies, equity investors, lenders, consultants, and legal counsel.
- Structure complex affordable housing transactions utilizing LIHTC equity, tax-exempt bond financing, HOME, CDBG, HUD, FHLB AHP, housing authority resources, and other federal, state, and local funding sources.
- Direct project underwriting and financial modeling, including development budgets, operating pro formas, sources and uses analyses, and long-term cash flow projections.
- Negotiate partnership agreements, equity investment terms, loan documents, development agreements, property management agreements, and related transaction documents.
- Coordinate and manage architects, engineers, contractors, attorneys, accountants, syndicators, market analysts, and other third-party consultants throughout the development process.
- Ensure compliance with LIHTC allocation requirements, extended-use restrictions, fair housing requirements, and other affordability covenants during development and lease-up.
- Serve as the Authority's lead representative in meetings with funding agencies, investors, local governments, community stakeholders, and development partners.
Required Qualifications- A four-year degree in public or business administration with emphasis in planning, economic/community development, finance, residential construction, urban planning or related field. Master's degree or equivalent is preferred.
- Minimum of seven (7) years of progressively responsible experience in affordable housing development, with substantial direct involvement in LIHTC-financed multifamily housing developments.
- Candidates must demonstrate experience managing affordable housing projects through substantially all phases of the development process, including project conception, site acquisition, underwriting, financing, LIHTC application preparation, closing, construction, lease-up, and stabilization.
- Strong preference will be given to candidates who have directly led multiple LIHTC developments and have experience negotiating with equity investors, syndicators, lenders, housing authorities, and public funding agencies.
- Demonstrated knowledge of LIHTC regulations, tax-exempt bonds, HOME, CDBG, HUD programs, Georgia affordable housing funding programs, public-private partnerships, and multifamily real estate finance.
- Experience preparing development budgets, sources and uses statements, operating proformas, and financial feasibility analyses is required.
- Applicants must have direct experience managing affordable housing developments through the majority of the development lifecycle and should not be limited to a single specialty area such as construction, property management, compliance, architecture, or accounting.
CompensationWe offer a competitive market-based salary, commensurate with experience and education, plus a comprehensive benefits package which includes:
- Several Healthcare plans to choose from, dental (includes adult and child orthodontal) and vision
- 14 days of earned PTO your first year, 12 company holidays + 1 birthday holiday.
- 401a & 457b + match
- Early close Fridays with flex schedule
- Paid Parental Leave
- Paid Life Insurance
- Free Employee Assistance Plan
Application Deadline: Open until filled
To Apply Email resume and cover letter to:No Phone Calls, please.Thank you for your interest.
Only those candidates selected for an interview will be contacted.
