Affordable Housing Project Manager

OVERVIEW:

The Affordable Housing Project Manager is responsible for reviewing, evaluating, and underwriting requests for loans from CEDAC’s non-profit borrowers; providing technical advice and guidance to borrowers through the real estate development and financing process, under the supervision of, and in consultation with senior management; managing the approval and disbursement processes for loans to clients.

RESPONSIBILITIES:

Predevelopment and Acquisition Lending

• Evaluate predevelopment and acquisition loan requests, and make recommendations to the Board.
• Prepare financial and organizational analysis of borrowers. Communicate and problem solve with borrowers to address any questions and concerns resulting from analysis.
• Perform internal loan management functions including: project monitoring and reporting, requisition review and approval, and assessing loan loss risk.

Deferred Payment Loan Underwriting and Closing

• Underwrite loan request from borrowers and prepare analysis and recommendations for DHCD.
• Manage the loan closing and disbursement process.
• Perform loan management functions in conjunction with counterparts at DHCD including monitoring project progress, loan status, and compliance with terms and conditions.
• Review and approve borrower requisition requests and prepare reporting documents as necessary.

Technical Assistance and Borrower Support

• Provide technical assistance to clients as may be required including assistance in identifying project development opportunities, strategic thinking and planning, and help with site acquisition.
• Provide technical assistance to borrowers relating to preparation of financing applications and assembling and managing the real estate development team.

Outreach and Marketing

• Maintain strong relationships with borrowers including marketing CEDAC’s loan products and technical assistance to current borrowers and reaching out to potential clients particularly in underserved areas of the state.

Program and Policy Development

• Maintain knowledge of current changes in the housing and community development field related to law, policy, and regulations affecting the availability of affordable housing financing.

CEDAC Operations

• Attend program, department, and agency-wide meetings to foster communication and collaboration.
• Perform other duties as required.

REQUIRED QUALIFICATIONS:

Our ideal candidate has direct non-profit real estate development experience. They are a self-starter with demonstrated leadership in affordable housing development and/or managing and implementing housing and community development policies and financing programs. The ideal Affordable Housing Project Manager will be motivated by the opportunity to support nonprofit developers. They will have an entrepreneurial spirit and possess many of the following technical skills and qualifications:

Work Experience

• Minimum 5 years experience in real estate development, lending, or relevant field (relevant Master’s degree may be substituted for 2 years of experience)

Education/Training

• Minimum of a Bachelor’s degree required

Skills

• Basic understanding of public and private real estate subsidy and financing programs for affordable and supportive housing, preferably in Massachusetts.
• Familiarity with legal, financial, design and construction, marketing, leasing, and sales aspects of development.
• Ability to work as a member of a highly motivated team is very important, as is a commitment to non-profit development.
• Excellent written and verbal communication skills required.
• Excellent organizational skills
• Ability to evaluate project budgets and working knowledge of MS Excel

OTHER

• Ability to work a hybrid schedule. CEDAC’s offices are located at 18 Tremont Street in Boston. Employees are required to work a minimum of one to two days a week in the office and may work the remaining three to four days a week from home. CEDAC provides computer and related equipment and supplies for working remotely from home.

PREFERRED QUALIFICATIONS

• Experience in affordable housing project management at a community-based organization