2917 East 1st. Street, Suite 101
Organizational Background: Founded in 1995, East LA Community Corporation's (ELACC's) mission is to advocate for economic and social justice in Boyle Heights and Unincorporated East Los Angeles by building affordable housing, grassroots leadership, self-sufficiency and access to economic development opportunities for low and moderate-income families.
We are looking for an individual with excellent management and leadership skills who is committed to working for social justice in a hectic environment that can master a sweet spot between feasible community real estate developments and economic and social justice. Qualified individuals will have a track record of successful affordable housing developments; supervisory and management experience; proven ability to develop and monitor systems for delivery of on time and on budget community real estate developments. Under the direction of the Vice President of Community Capital, the Director of Real Estate Development is responsible for the overall operation of ELACC’s development portfolio, oversees and mentors staff, cooperates with peer Directors to successfully implement ELACC’s community-driven development model. The Director of Real Estate Development is an ELACC team member that leads their core project and fulfills their responsibilities to the entire team by actively fundraising, supporting organization wide projects, participating in all staff planning sessions, and being part of achieving the organization mission and vision.
Duties and Responsibilities:
- Identify viable projects and prepare feasibility report to support the President and Board of Directors in making decisions.
- Consult with staff to develop project concepts and specifications.
- Manage title and escrow process from open to close, maintain contact with landowners and the brokerage community.
- Develop financial proformas and program concepts for projects.
- Supervise and Manage the application and submission of funding applications including application to HCID’s Managed Pipeline, HCD Infill/TOD, VHHP, DMH, County HOME/CDBG, Section 8 contracts, AHSC, 4% and 9% Tax Credit applications, MHP and tax exempt bond applications. In addition, the Director will also manage the development of single-family projects and projects that utilize NMTC’s.
- Identify and research available funding sources
- Lead the governmental approval processes necessary to entitle property
- Communicate all agreement milestones and performance items to responsible parties
- Mentor, supervise and develop staff to excel in project management including:
- Developing capital budgets.
- Developing schedules with critical path milestones.
- Tendering all contracts for professional services.
- Managing contracts and acting as lead contact for all professional services and the construction team including chairing regular project meetings.
- Manage payments and the claims process during construction and reconcile budgets at end of construction.
- Monitor expenses against the budget.
- Review all contract changes and coordinate change control process – maintain records of all changes and required approvals.
- Regular reporting to funders and the President on project progress.
- Oversee completion of maintenance procedure instruction, systems demonstration and proper delivery of Operating Manuals.
- Ensure a maintenance schedule is adopted by the Asset and Property Management department.
- Undertake post-completion reviews and verify close out documentation and coordinate the one year warranty review.
- Maintaining all records for the project.
- Develop strategies for leveraging ELACC’s assets to develop new projects.
- Make recommendations to the President and Board of Directors on new actions, goals and targets related to the development of new housing.
- Make recommendations to the President and Board of Directors with respect to financing, debt and financial sustainability of projects.
- Develop and manage timeliness for various activities to ensure strategic plans and critical development processes are carried out in a timely manner.
- Seek and develop viable partnerships to advance ELACC’s real estate development goals.
- Prepare regular reports on progress, budgets, and expenditures related to the management of real estate development activities.
- Perform other related duties as required.
- Initiate and maintain ongoing cordial professional relationships with outside entities and various stakeholders.
Required experience and skills:
- Bachelor’s degree in a related field and work experience and/or graduate level coursework in a field supporting the job requirements. Commercial real estate brokerage experiences a plus. MA in real estate or urban planning a plus.
- 5-7 years supervisory experience of real estate development staff.
- Highly computer literate and proficient in Microsoft (i.e. Microsoft Excel, Microsoft Word, Microsoft PowerPoint).
- Ability to work with financial concepts and perform financial analysis to assess financial feasibility using a variety of funding sources
- A comprehensive understanding of the real estate industry and its various property types with a strong emphasis on multi-family housing.
- Excellent project management, organizational and leadership skills.
- Analytically and strategically minded.
- Skilled negotiator and problem-solver.
- Extremely organized and detail-oriented.
- Outstanding communication and public speaking skills.
- Results driven.
- Successful deal history completing large transactions from the investment (not lender) side of LIHTC 9% and 4%.
- High degree of independence, motivation, and accountability.
- Sophisticated, tactful, and results-driven negotiation skills
- Knowledge of land use policies and entitlements
- Established network of owner, developer, broker, and financier relationships to facilitate sourcing
- Experience in facilitation, conflict negotiation, teambuilding and group dynamics.
- Bilingual English-Spanish desired: ability to speak in Spanish and work with monolingual Spanish residents.
- Work well in a team-oriented environment and ability to work independently, managing multiple priorities.
- Knowledge of Boyle Heights and East LA and/or have worked with similar demographics preferred.
- Commitment to developing strong team members and our mission.
Compensation: Annual salary to be negotiated depending on qualifications and experience. This is a full-time exempt position with good benefits package including health, dental, life and disability insurance, and retirement account. ELACC is an Equal Opportunity Employer.
Minimum Education Required