SFCLT seeks a Housing Director to help build and maintain fiscally-sound and resident-based housing.
The San Francisco Community Land Trust (SFCLT) is a nonprofit organization whose mission is to create permanently affordable housing for low-to-moderate-income people through community ownership of the land. Guided by the principles of anti-displacement and racial justice, SFCLT stabilizes neighborhoods, and creates greater access to housing and homeownership opportunities with a focus on BIPOC communities previously excluded from access to wealth, and in particular, access to homeownership opportunities.
SFCLT currently owns and operates 14 permanently affordable properties for those of low and moderate income spread throughout San Francisco, including Chinatown, the Mission, the Tenderloin, the Richmond, South of Market, and soon Russian Hill. 73% of our residents are below 80% AMI and 50% below 60% AMI. The 250 residents living currently in our 151 units of housing represent a diversity of races and ethnicities with 70% of our residents identifying as BIPOC.
The Housing Director is a member of the executive leadership team together with the Executive Director, Operations Director, and Strategic Impact Director, and has overall responsibility for the supervision of a small asset management department. Working as a collaborative leader, the Housing Director is responsible for leading a team to create an innovative pipeline of multi-unit residential real estate projects and ensure the financial health of SFCLT housing as well as the overall health, empowerment and leadership of SFCLT residents.
The Housing Director is hired by and reports to the Executive Director. SFCLT values teamwork and more horizontal leadership management.
Core Duties & Responsibilities:
- Oversee the operations of SFCLT’s small asset management team to achieve the financial sustainability of SFCLT’s housing projects:
- Optimize properties to achieve a DSCR minimum of 1.1 or greater
- Manage reserves – Operating and Replacement
- Identify optimal hard debt and soft debt (private and public) financial products for refinancing
- Review Monthly/Quarterly Financials & working with the bookkeeper to create systems/improve our internal financial management
- Annual Budgets: Create and present budgets for staff and residents
- Identify cost saving methods like electrification & solar
- Regular review of Capital Needs Assessments with Construction Management Director
- Oversee Marketing & Lease Up Manager for Lease Up Activities
- Lender reporting – quarterly and annual
- Ensure compliance with loans.
- Ensures working relationships with third-party property management firms
- Leads Asset Management team in managing refinance events
- Together with the ED reviews key legal agreements, including mortgages, loan documents, subordination agreement and guarantees for presentation to the Board of Directors.
- Lead the Finance Committee to educate staff and board regarding the current financial health of the properties on a quarterly basis, as well as a review of the year end financials once a year.
- Oversees the asset management team, and in particular the Director of Stewardship and Program Managers to ensure affordable housing compliance, stewardship and resident support/education.
- Insurance renewals/analysis
- Welfare Exemption Preparation – first and annual filing
- City/government funding monitoring Annual Monitoring activities – reporting
- Income certification for new and existing tenants
- Support the Annual Financial Audit
- Ensure that residents receive social support and education towards co-op conversion where applicable.
- Oversee Construction Management Director in the resolution of all code violation related issues
Real Estate Acquisition Pipeline Development:
- Leading on creating an innovative pipeline of multi-unit residential real estate housing projects with a focus on preservation (acquisition/rehab of existing buildings).
- Leading on creating strategic partnerships with lenders and other housing developers to advance innovative preservation and production projects.
- Research on existing affordable housing programs and financing sources at local, regional and state levels which could be utilized for SFCLT projects.
- Collaborates with the ED, Acquisitions Committee, and Finance & Credit Committee to review and assess the risk of potential acquisitions, debt, equity and public subsidy proposals and partnership/operating agreements.
The ideal candidate will have experience working with people from diverse socio-economic and cultural backgrounds, will be passionate about the organization’s mission, and be experienced in project management, facilitation, and working independently with accountability to a team.
We hope to hear from candidates who have:
- Deep alignment with & enthusiasm for SFCLT’s mission
- At least 3 years of demonstrated asset management experience in multi-unit residential real estate, with both technical and management proficiency in the operations of a real estate development organization.
- A proven track record of successful acquisitions and/or refinance of multi-unit residential real estate projects, and with preference in the Bay Area.
- Knowledge and experience with real estate accounting and finance, preferably in affordable multi-family housing.
- Familiarity with the lender eco-system and financing available for preservation projects at the local, regional, and state level.
- Commitment to community development, helping low-income communities and strong work ethic and understanding of nonprofit business models.
- Demonstrated experience with design and implementation of enhanced financial systems and procedures.
- Demonstrated ability to prepare clear, accurate, well-organized written and financial reports and to communicate verbally in an effective and concise manner.
- Proficient in Microsoft Office, accounting software programs, and network administration.
- Supervisory experience required. Excellent leadership skills.
- Commitment to open communication and intentional information-sharing.
- Extremely organized and detail-oriented work style.
- Ability to maintain a high level of confidentiality.
- Excellent written and oral communication skills.
- Proficiency in Excel and the rest of the Microsoft Office Suite and Google Suite.
While not required, skills or experience in any of the following areas/activities are desirable:
- Experience with affordable housing asset management and/or real estate development.
- Experience working with city/state governments, departments and agencies around the creation of multi-unit residential housing and/or affordable housing.
- Rooted in local communities marginalized by gentrification and displacement, including communities of color, low-income, queer, and immigrant residents of San Francisco.
- Master’s degree
Salary & Benefits:
- Salary: $150,000 – $180,000 per year, depending on experience.
- This is a hybrid role with 2 days per week in-office required
- Medical reimbursement plan for employee and family
- 31 Days of PTO, and 12 holidays
- 401k with 2% match
- Sabbatical policy (16 weeks after 4 years)
HOW TO APPLY:
Our goal is to fill this position ASAP but for the right candidate, the start date is negotiable. All applicants must be fully vaccinated before starting (2 shots + booster).
Please send resume and cover letter to: firstname.lastname@example.org
Applications will be reviewed on a rolling basis with a goal to fill this position as soon as possible. We look forward to hearing from you!