Position Title: Development Executive
Department: Real Estate Planning and Development
Reports to: Senior Vice President, Real Estate Transaction Management & Capital Markets
Salary grade: Q
Salary Range: 97,700-122,200
Position Summary:
The Development Executive will act as portfolio manager for a number of development deals, with one site as a primary focus: large, multi-phase, mixed-use, mixed-income new construction master planned-community for the revitalization of one of AH’s former public housing sites. This project is anticipated to be implemented in a minimum of five (5) phases, over 10+ years, and will include non-residential uses, potentially commercial retail, office, grocer, and/or entrainment, in addition to workforce training and educational facilities. Additional smaller projects may be assigned, including defensive acquisitions and opportunities for expansion of the main site, and individual single-phase developments.
- Initiates, coordinates and implements major community and economic development plans, and comprehensive neighborhood revitalization efforts for a portfolio of real estate assets and projects. Strong Community Engagement skills are required to effectively garner public support of projects. Attending community meetings on nights and weekends will be required.
- Ensures all aspects of real estate development activities are in compliance with city, state and federal policies these activities may include residential, commercial, institutional, recreational, and educational development.
- Responsible for management of all phases of the project from feasibility, predevelopment planning through financial closing, then coordinating and collaborating with construction management and through certificate of occupancy, before being transferred to asset management.
- Ensures projects are in compliance with the real estate development process and workflow, on schedule and in alignment with the critical path to meet project milestones, focused on meeting the deadlines as articulated and reaching unit delivery goals in a timely manner.
- Keeps senior leadership and executive management apprised at all times of progress in achieving milestones and unit delivery goals. Identifies and consults with senior leadership on policy and regulatory matters that impact development.
- Works collaboratively with other departments and agencies throughout the development process - soliciting the expertise of others while articulating a clear understanding of the issues in order to keep development projects moving forward.
- Adds value to their assigned development by identifying and pursuing strategic opportunities for the organization and affordable housing.
- Drafts and coordinates with professional staff on all regulatory requests for approval, low income housing tax credit applications, memorandums, resolutions and presentations to committees and the board of commissioners, and grants and loan applications.
- Manages the business relationships between external partners and the development team. Manages development-specific coordination activities including managing the role of residents and community representatives through the Local Advisory Council and Working Groups.
- Organizes the engagement of Atlanta Housing Resident Services, Asset Management, Legal, Contracts & Procurement, Policy & Strategy, Regulatory Compliance, Marketing & Communications, and Finance during the development and closing process including the production of evidentiary documents for HUD processing.
- Coordinates with Resident Services and Asset Management for efficient unit delivery, leasing and occupancy. Effectively translates Resident Services and Asset Management concerns to the development team to ensure a comprehensive strategy.
- Prepares and delivers presentations and other supporting materials required for Board approvals for development projects. Coordinates presentations and communications for community residents and representatives, city departments and other governmental agencies, and other groups, as required.
- Drafts and coordinates solicitations for development proposals via RFP or RFQ process. Coordinates with Procurement and leads the review and scoring process, as indicated. Reviews developer proposals submitted by private and public agencies for conformity with current Atlanta Housing objectives.
- Collaborates with Transaction Management to ensure underwriting reviews are in compliance, negotiating deal terms, and reviewing loan and grant applications to ensure terms are in line with Board approvals and HUD requirements.
- Reviews legal documents, correspondence and contracts as required for conformance with business terms.
- Ensures that predevelopment financial expenditures are met and are in accordance with any requirements.
- Performs the development and operating budget underwriting and analysis, in collaboration with the underwriting team’s deal structuring; reviews and approves the closing draw package; and processes predevelopment loan disbursements.
Education and Experience:
- Requires a Bachelor's Degree in Political Science, Architecture, Urban Planning, Engineering, Real Estate, Business Administration or other related field. A Master's degree in City Planning, Urban Development, Real Estate Development or directly related degree is desirable.
- Eight years' experience in real estate development of mixed-use, multifamily mixed-income and affordable housing is required. Experience with multi-phase development is strongly preferred.
- Experience with public housing funding, tax increment financing, project based rental assistance, bond proceeds and other federal/state funding opportunities is required.
- Experience with community engagement is required (not necessarily in support of entitlement process).
- Experience with government environment or not-for-profit community development with a strong emphasis on affordable, residential housing development and/or project management is preferred.
Knowledge and Skill Requirements:
- Ability to understand highly complex and involved processes
- Ability to underwrite, understand, and structure complex sources of capital for development deals over multiple market sector types, utilizing a variety of public and private sources
- Ability to think analytically, consequentially, creatively, and critically
- Ability to multitask and take initiative to manage projects and push scheduled to meet milestones and deadlines with demonstrable project management skills and reporting capability
- Ability to exercise sound judgment, anticipate challenges and respond appropriately
- Able to adapt to frequent changes in directives and deadlines, while prioritizing and effectively managing in a time sensitive environment
- Exceptional written and verbal, communication skills, utilizing advanced rhetoric in public speaking, presentations to the Board of Commissioners, and community engagement)
- Excellent customer service and soft skills (active listening, social cues, , time management, self-motivating, conflict resolution, patience and tactfulness)
- Ability to manage diverse stakeholder groups, internal and external
- Must have impressive computer skills (Word, PowerPoint, Excel, SharePoint, Smartsheet, etc.), 100 wpm
Working Conditions:
Works in a fast-paced office environment requiring work multi-tasking. May require bending, and prolonged sitting and/or standing. May be required to occasional construction site visits and/or out of office appearances.
