Real Estate Development Manager

BACKGROUND

Manna, Inc. is a nonprofit developer of affordable rental and homeownership housing, a

condominium and homeowner association manager, and a HUD-approved housing

counseling agency operating in the District of Columbia and Maryland. Since its founding

in 1982, Manna has invested over $350 million in District of Columbia neighborhoods and

has helped over 2,000 low- and moderate-income households become homeowners.

Manna’s approach is to perform development functions in -house through its development

staff and partner closely with its sales/marketing and homebuyer education and

counseling teams, with select joint venture arrangements.

Manna’s real estate functions occur in the Project Development department, which

focuses on developing and building high-quality affordable rental and homeownership

projects.

POSITION SUMMARY

The Development Manager is a mid-level, full-cycle deal execution role focused on:

• Acquisitions (sourcing support, feasibility, due diligence, and transaction

execution),

• Predevelopment leadership (entitlements, design coordination, schedule/budget

control), and

• Financing (capital strategy, LIHTC and bond applications, debt and equity for

homeownership projects, lender/investor coordination, and closing).

The Development Manager will help advance Manna’s strategic housing priorities,

including expansion into local jurisdictions in Maryland and Virginia through preservation,

affordable homeownership, and new development opportunities.

ESSENTIAL FUNCTIONS / RESPONSIBILITIES

1) Acquisition, Feasibility & Due Diligence:

• Source and evaluate opportunities aligned with Manna’s housing priorities (single-family

homeownership, multifamily, and new construction).

• Conduct and/or coordinate site assessment, feasibility analysis, market research,

and due diligence (including third-party reports and risk flags) to inform go/no-go

decisions.

• Support negotiation and execution of key transaction milestones (LOI/PSA

support, due diligence tracking, and closing readiness) in coordination with internal

leadership and external counsel.

2) Predevelopment Leadership (Entitlements, Design, Budget, Schedule)

• Lead predevelopment from concept through closing: entitlements, design

coordination, scope definition, and predevelopment schedules.

• Manage consultants and coordinate effectively with architects, engineers,

landscape/interior designers, property managers, and project managers to keep

deliverables on track.

• Review architectural/engineering plans and construction budgets for alignment

with program requirements, feasibility, and long-term performance.

3) Underwriting & Financial Analysis

• Structure, underwrite, and manage project pro-formas and key assumptions

(especially for-sale housing where applicable).

• Build clear sources/uses, development budgets, and scenario/sensitivity analyses;

identify gaps, mitigations, and tradeoffs.

• Prepare concise investment recommendations and present analysis to internal

decision-makers and committees.

4) Financing Strategy, Applications & Closings

• Apply, negotiate, and support securing layered financing including grants, loans,

LIHTCs (as applicable), rental assistance contracts, and other housing subsidies.

• Coordinate financing deliverables: third-party reports, appraisals/market studies,

environmental, legal and lender requirements, and closing checklists.

• Manage timelines and communication across lenders/investors, public funders,

internal stakeholders, and consultants to achieve on-time closings.

EDUCATION & QUALIFICATIONS

• Bachelor’s degree required.
• Demonstrated experience contributing to and/or leading key phases of at least 2–

3 affordable housing projects (or equivalent deal experience) from feasibility

through financing/closing, with strong predevelopment execution skills.

• Strong financial skills: real estate pro-formas, budgets, and capital structuring;

proficiency managing financial budgets.

• Working knowledge of design and technical coordination, including plan/budget

review.

• Excellent written and verbal communication; ability to manage multiple

stakeholders and deadlines.

Compensation: Salary range between $95,000 to $120,000 commensurate with

experience.

• Medical, Dental, Vision Insurance
• Life Insurance
• Disability Insurance
• 401K
• FSA
• Parking subsidy

To Apply submit the following:

• Cover Letter
• Resume

Send to FJackson@Mannadc.org

Manna Inc. is an equal opportunity employer.

• Medical, Dental, Vision Insurance
• Life Insurance
• Disability Insurance
• 401K
• FSA
• Parking subsidy