Regional VP of Real Estate (MN)

The Regional VP of Real Estate Development is responsible for assisting the VP of Real Estate Development in implementing a regional development strategy and pipeline through sourcing new construction, acquisition and preservation affordable housing projects within an assigned region. Supervise assigned team of Senior Development Directors, Development Director(s) and Housing Associate(s) in managing the real estate transaction pipelines within the assigned region.

The Regional Focus is on the Minnesota Twin Cities market (including the 7 County Metro) and Rochester. This individual will work with Met Council, a quasi-governmental regional agency that provides funds and other support for affordable housing. Development projects are located in Hennepin County, Dakota County, Ramsey County, Anoka County, and Olmsted County.

• A successful candidate will have a strong knowledge of the Minnesota market and strong relationships with lenders such as Wells Fargo, US Bank, Bridgewater and Merchant Bank and investors such as Enterprise, and Merchant Bank

Location: 7458 Office Ridge Drive Eden Prairie, MN 55344

Schedule: Monday-Friday 8:00 AM-5:00 PM (*Fully Remote)

Salary: $160,000-$190,000 (Salary is negotiable based on years of experience)

Regional VP Real Estate Job Highlights:

• Medical, Dental and Vision insurance
• Health Spending Account (HSA)
• Flexible Saving Account (FSA)
• 403(b) - with discretionary match
• Paid Vacation/Sick Time
• NetSpend – Get paid early: Tap into 50% of your earnings before payday

About the Job: This position will be responsible for regional revenue generation and project management activities of assigned deals in addition to managing his/her own projects from concept to stabilization.

Essentials:

Regional Strategy Development, Implementation & Administration (30%)

• Work with the VP of Real Estate Development, Senior Development Directors and others on the housing team to carry-out strategic direction.
• Responsible for production targets within assigned region, including but not limited to, key market states. Will work with Senior Development Directors and VP of Real Estate Development to create key market strategy and success.
• Work with the real estate team to assess and analyze regional housing programs and funding sources to be utilized in achieving success of regional growth by 50% within five (5) years.
• Create, maintain and support relationships with key stakeholders including elected officials, state and local agency directors/staff, investors/lenders and policy makers to gain support for the production of affordable housing and the integration of housing and healthcare.

Supervise and Manage Regional Housing Pipeline from Deal Sourcing through Project Stabilization (70%)

• Negotiate site control for desired sites/locations.
• Analyze financial feasibility, including proformas, revenues, operating expenses, budgets, construction estimates, and financing.
• Prepare Volunteers of America (VOA) funding applications, committee and board approvals. Oversee and supervise collaboration with different housing departments.
• Oversee / supervise project development teams.
• Oversee community engagement and support for public funding which includes organizing and attending public meetings.
• Solicit, analyze, select and negotiate project debt and equity with lenders and investors, working closely with Housing Finance. Direct and oversee research and application for funding sources.
• Prepare, lead and supervise team members in the preparation of documentation required for the submission of application packages for financing and approval.
• Engage / supervise the engagement of legal counsel (internal and external) in the formation of new entities, closing documents, board resolutions and other documents that may be required for the successful development of the project.
• Supervise / coordinate with the VOANS Construction Manager, architectural and engineering teams to oversee the development and completion of schematic, design and construction documents.
• Negotiate key deal terms with various development partners.
• Other real estate development related duties as assigned.

Required Qualifications:

• Bachelor’s degree required with graduate degree in finance, law, planning, and/or public policy preferred.
• At least ten (10) years of affordable housing real estate development experience and/or training; or equivalent combination of education and experience in affordable housing real estate development, acquisitions and project management.
• At least four (4) years supervisory experience of professional staff and teams.
• Exemplary communication and project management.
• Ability to travel is required, approximately 25% of the time.

Preferred Qualifications:

• Experience with the state agency of Minnesota Housing

At VOANS, we celebrate sharing, encouraging and embracing diversity. Equal employment opportunities are available to all without regard to race, color, religion, sex, pregnancy, national origin, age, physical and mental disability, marital status, parental status, sexual orientation, gender identity, gender expression, genetic information, military and veteran status, and any other characteristic protected by applicable law. We believe that blending individual strengths and unique personal differences nurtures and supports our organizations’ shared commitment to our mission and creates an inclusive and diverse environment where everyone feels valued and has the opportunity to do their personal best.