Director, Affordable Housing Investment

Community Foundation for Greater Atlanta

Director, Affordable Housing Investment

POSITION: Full-time Exempt

DEPARTMENT: Housing and GoATL

REPORTS TO: Managing Director, Housing Funds

The Community Foundation for Greater Atlanta works to inspire and lead our region toward equity and shared prosperity for all who call our region home. We do this work by providing quality services to donors and innovative leadership to grapple with the region’s most pressing challenges.   In 2021, the Foundation launched a new strategic plan, TogetherATL, to focus on improving the life outcomes of all residents of metro Atlanta. A key pillar of the TogetherATL strategy is housing and neighborhoods because we know that where you live is inextricably linked to your quality of life.

The Foundation’s housing strategy is focused on supporting critical policy, programs, and production through grants, conditional loans, and interest-bearing loans. We have established a $230 million impact investment initiative designed to accelerate and sustain social outcomes in our community by strategically investing capital through fund models focused on affordable housing, economic inclusion and community capacity. The vast majority of this capital is investing in affordable housing production and partners.

Through the GoATL Affordable Housing Fund, TogetherATL Affordable Housing Fund, and Atlanta Affordable Housing Fund, we are deploying philanthropic and impact investments to accelerate the production and preservation of affordable housing, particularly supporting deeper and/or longer terms of affordability. Since launching the funds, we have closed over 25 transactions in the form of grants, subordinate debt and preferred equity and are growing our team to support the scale of the effort.

Reporting to the Managing Director, Housing Funds, the Director of Affordable Housing Investment drives the affordable housing funds’ deal sourcing, diligence, and execution strategy. Core areas of responsibility include: pipeline development with mission-aligned sponsors, relationship management with co-investors and other partners, investment evaluation including financial analysis and risk assessment, negotiating of terms, managing at least one direct report and third-party consultants, partnering to monitor fund performance including modifications, partnering in daily fund operations, and key liaison to the Affordable Housing Investment Committee.

Essential Functions of the Position:

• Source and evaluate mission-aligned investment opportunities:
  • Build relationships with local CDFIs, development cohorts, and mission-driven project sponsors.
  • Participate in and provide leadership to collaborative funding tables to identify how to best move affordable housing projects forward.
  • Evaluate projects for funds alignment.
  • Lead diligence evaluation including financial modeling, market analysis, and risk assessment. Manage team members and consultants, as needed.
  • Negotiate terms of investments.
  • Lead discussions with Investment Committee to facilitate decision-making
  • Ensure final agreements are in alignment with underwriting and conditions of approval
  • Internal and external partnerships are essential to supporting the management of above items.
• Fund Management & Development
  • Monitor portfolio performance relative to financial and missional goals
  • With support from the Asset [SH1] Manager, monitor loan/ investment performance and needed modifications
  • Measure and monitor effectiveness of housing funds including data analysis, drafting reports and presentations, and tracking key performance indicators and impact outcomes
  • Support quarterly financial reviews and semi-annual funds level reporting to donors and limited partners
  • In collaboration with the Managing Director and President & CEO, assist in capital raising with the business community, local and national foundations, corporations, public sector partners and other private and institutional investors.
• Investment Committee, Advisory Board and Staff leadership.
  • Work directly with the Housing Investment Committee, Housing Committee, and Atlanta Affordable Housing Fund Board to support information-sharing and structure conversations for informed advice and decisions.
  • Work closely with Finance, Accounting, Fund Administration, and Operations team members to ensure smooth and compliant transactions
  • Supervise Program Associate(s) by delegating portfolio components, relationship management and supporting their growth and development.
  • Represent Community Foundation at external events to include leading and facilitating speaking engagements and thought leadership in the organization cross-collaboratively.

• Bachelor’s degree required with preferred completion of study in real estate, business, finance or related field; Masters preferred.
• 7+ years of experience in real estate development or finance, affordable housing, banking, private equity, venture capital or impact investing.
• Working knowledge of affordable housing and impact frameworks.
• Experience managing a fund or real estate portfolio.
• Preferred experience launching, funding or collaborating with nonprofits or public sector partners, particularly in the housing space.
• Demonstrated interest and ability to develop networks and diverse contacts in the community and foster relationships with non-profit and for-profit developers, aligned funders, and sector leaders.
• Demonstrated leadership skills including coaching and/or mentoring others; direct supervisory experience preferred.
• Excellent analytical and interpersonal skills and demonstrated ability to collaborate, manage and foster inclusive internal and external relationships.
• Strong proficiency with Microsoft Office (Outlook, Word, Excel, Teams), and the ability to effectively utilize proprietary software, including project management, fund management and CRM systems.
• A high degree of professionalism, confidence and flexibility that exhibit the ability to work collaboratively and effectively with stakeholders and colleagues of diverse backgrounds and in an entrepreneurial environment.
• Strong time management, interest in continual learning, comfort in managing up, and adaptable in a fast-paced environment.
• A clear commitment to equity of opportunity, supported by a record of impact in areas relevant to the Foundation’s evolving strategy, as well as a genuine respect for diversity, equity and inclusion.

Other:

The Community Foundation operates in a hybrid working environment with staff working in-office three days per week and the opportunity to work two days remote per week if in good standing. 

Compensation:   

To be determined based upon experience and qualifications within the anticipated salary range of $175,000 - $185,000. This position is exempt and employee is eligible for the Foundation’s competitive health and benefits plan that includes:

• Paid time off:
  • Two weeks accrued paid vacation
  • Two weeks accrued paid sick leave
  • Four mental health days
  • Two personal day
  • Two floating holidays
  • Ten holidays
• Benefits:
  • All benefits effective on date of hire – no waiting period
  • 100% employer-paid benefits (medical, dental, vision) for employee-only insurance plans
  • 100% employer-paid life insurance and AD&D
  • 100% employer-paid short-term disability and long-term disability
  • 100% employer-paid parking downtown Atlanta or monthly MARTA card
  • Affordable plans for legal insurance, critical illness, supplemental life, and more
  • Employee Assistance Program
• Retirement:
  • Immediate eligibility for employee contribution to 403b plan
  • After two-year anniversary with organization, all employees receive an employer-paid contribution of 6% of their salary to a SEP-IRA plan regardless if the employee contributes to retirement
• Culture and Development:
  • Individual Development Plans (IDPs) for each team member including trainings, resources, development opportunities, etc.
  • Two Wellness Rooms for mental health with self-care items
  • Fun monthly employee engagement activities!

To Apply:

Please apply directly on our career site. Due to the volume of candidates, we are unable to provide status updates to applicants or accommodate phone calls or walk-ins regarding open positions.

The Community Foundation provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Community Foundation for Greater Atlanta values diversity and inclusion; we honor the diverse needs, strengths, voices, and backgrounds of all individuals in our regional community.