Vice President, Real Estate
Job Details
217 WYCKOFF AVENUE - BROOKLYN, NY
Full Time
Bachelor
$170,000.00 - $200,000.00 Salary/year
Day Shift
Nonprofit - Social Services
Job Description

"All persons newly hired for employment by RiseBoro must provide proof of being fully vaccinated by the first day of employment, except for those who obtain an exception due to medical or religious reasons through the reasonable accommodation process."

ESSENTIAL DUTIES AND RESPONSIBILITIES

The Real Estate team unleashes the potential of communities to thrive through the development and preservation of healthy, sustainable affordable housing to ensure long terms affordability of the RiseBoro Housing Portfolio and the success of the communities we serve.

The VP of Real Estate is responsible for management of RiseBoros existing and expanding Real Estate portfolio, including an existing pipeline of 3500 units of new or rehab construction, and Asset Management of RiseBoros existing Real Estate portfolio, which includes over 2,000 housing units. This is an executive level management role, which will oversee RiseBoros Real Estate Development, Marketing and Asset Management teams. The VP will be responsible for the following functions:

PROVIDE STRATEGIC LEADERSHIP

  • Serve as a member of the senior leadership team contributing to overall organizational impact and growth strategy, and the investments and initiatives that advance it
  • Set goals and update leadership on progress towards these goals
  • Cultivate and curate strategic relationships to enhance the organizations impact and reach.
  • Identify, analyze and secure new development opportunities.
  • Lead responses to Requests for Proposals and Requests for Qualifications.
  • Identify and advance cross-functional collaboration opportunities within RiseBoro
  • Identify relevant key performance and risk indicators, assess emerging risks and opportunities, and develop practical, sustainable plans to address them.
  • Recommend opportunities to successfully integrate into new communities through proven engagement techniques, supporting the RiseBoro mission, vison and values. Identifies gaps in process and implement solutions to address any such gaps.
  • Build capacity to support growth potential.

OVERSIGHT OF REAL ESTATE, MARKETING AND ASSET MANAGMENT PORTFOLIO

Real Estate Development

  • Responsible for advancing projects through all stages of development, including pre-development, construction closings, construction, marketing and lease up, and permanent conversion.
  • In coordination with Director of Sustainability and Construction, keep projects on schedule and on budget
  • Report on construction progress and costs ensuring successful timely project completion in coordination with the Director of Sustainability and Construction.
  • Build and maintain financial models for all Real Estate development projects in RiseBoros pipeline, in conjunction with project managers.
  • Develop and maintain relationships with key funders and stakeholders including government partners, financial institutions, development partners, elected officials, community members and tenants.
  • Lead monthly update presentations to RiseBoros CEO & CFO on the status of the development pipeline. In conjunction with VP of Housing, present prospective opportunities and other requests to RiseBoros Board of Directors.
  • Assess capital needs of all predevelopment projects, and spearhead process of obtaining predevelopment loans. Work with project managers to establish and update predevelopment budgets.
  • Negotiate critical documents for projects including letters of interest, loan documents, operating agreements, joint-venture agreements, regulatory agreements, and other relevant project documents.
  • In conjunction with RiseBoros fiscal department, work to update and maintain RiseBoros schedule of contingent liabilities.

Asset Management

  • Advance asset management goals to manage real estate assets that have a true impact on community outcomes.
  • Coordinate asset management functionality at interface with RiseBoros property management, development and fiscal teams to ensure smooth and timely task completion.
  • Oversee lease up, conversion, and transition to property management for development projects, including but not limited to coordinating cost certifications and 8609s, establishing building utility accounts, finalizing operating budgets, and locking in permanent insurance.
  • Advance asset management goals to manage real estate assets that have a true impact on community outcomes.
  • Supervise RiseBoros Asset Management team, which is tasked with:
  • Improving RiseBoros real estate-owned schedule
  • Managing the framework for capital requests for RBs portfolio
  • Lead activities related to significant building recapitalizations within RBs portfolio
  • Tracking building performance (budget to actuals) across RBs portfolio of 2,000+ units, in close coordination with RB property management and fiscal teams
  • Manage and create a framework for Year 15 exits within RBs portfolio

Marketing

Supervise RiseBoros Affordable Marketing Team, to ensure that buildings are leased up on time and on budget. The Marketing Team is responsible for:

  • Creation and submission of HPD/HDC/HCR marketing materials for RiseBoro-led and third-party marketing activities
  • Ensure implementation of approved marketing plans
  • Manage lottery logs through Housing Connect II or other system
  • Applicant screening and processing
  • Establishing milestones and reporting on status to Development Team or client
  • Creating and maintaining trackers to report on weekly progress of marketing / leasing activities
  • Ensuring that lease signings and move-ins are progressing in a timely manner

LEAD AND MENTOR STAFF

  • Manage collaboration among staff to implement strategy and maximize impact
  • Promote a culture of accountability, transparency, integrity, respect, and commitment
  • Promote exacting standards of performance, service quality, and operational efficiency
  • Develop leader and encourage innovation to advance the theory of change

COMPETENCIES

  • 10 years of experience in affordable housing, development or related experience; 3 to 5 years supervisory experience
  • Passionate about the affordable housing industry and sustainable building practices
  • Excellent project management skills. Ability to manage and execute on multiple critical priorities simultaneously
  • Ability to work independently or as part of a team
  • Advanced excel skills
  • Experience in low income housing tax credits (9% and 4%) transactions
  • Experience in bond financing transactions
  • Experience in Year 15 transactions
  • Highly organized, detail oriented and self-motivated
  • Ability to understand the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities
  • Have a demonstrated commitment to supporting communities who have experienced systemic oppression and bias (e.g. people of color, LGBTQ+ people, immigrants, justice involved persons, etc.)

EDUCATION EXPERIENCE

Bachelors Degree (Masters in a related field is preferred)

EEO/Affirmative Action Policy Statement

It is the policy of RiseBoro to provide equal employment opportunity to all employees and applicants for employment. No individual will be discriminated against on the basis of race, color, age, creed, religion, national origin, citizenship status, political or union affiliation, marital or partnership status, sex, sexual orientation or affectional preference, gender identity, familial status, genetic information or predisposition or characteristic, disability, status as a victim of domestic violence, status as a veteran or member of the U.S. military and related obligations, or any other characteristic protected by law. This policy applies to all terms and conditions of employment, including but not limited to, recruitment, hiring, job placement, compensation, benefits, training and apprenticeship, employee development, promotion, demotion, discipline, transfer, lay-off and recall, and termination. RiseBoro makes reasonable accommodations based on religion and/or disability as required by law, and requests for accommodation are to be directed to the Human Resources Department.

In the community for good...
Riseboro Community Partnership
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