Real Estate Developer

Mountain Housing Opportunities (MHO) seeks a Real Estate Developer (RED) who serves as part of MHO’s rental development team and is responsible for both development of new projects and managing capital projects in the MHO portfolio. The RED reports to the Director of Real Estate Development and works with the other Real Estate Developers, Development Interns, Architects, and other key agency staff to advance the following principles of Equitable Development.

MHO produces over $10 million each year in affordable and workforce housing development, apartment leasing and management, home lending, housing preservation in the form of Emergency Home Repairs for low-income homeowners, and neighborhood revitalization.  Since our founding in 1988, MHO has helped over 6,000 households and now serves over 1,600 people each year in our combined programs.  See www.mtnhousing.org.

Mountain Housing Opportunities (MHO) is a nonprofit housing and community development organization serving principally Asheville, Buncombe County, and other areas of western North Carolina. Our mission is to build and improve homes, neighborhoods, communities, and lives, and to build hope and dignity in the people we serve.

The RED’s responsibilities include:
Feasibility of Potential Projects

• Identify potential projects based on referrals from community contacts and agency Directors
• Prepare and maintain preliminary development cost estimates in collaboration with other MHO leadership, architect, and/or general contractor
• Develop preliminary operating cost estimates in collaboration with Property Management
• Identify sources for pre-development financing and, as necessary, make application to those sources.
• Prepare cash flow analysis for both pre-development and development period
• Identify potential permanent funding sources for individual projects
• Identify and analyze potential community and political impacts of projects
• Identify and analyze MHO’s exposure and risk including financial, political and community aspects

Financial and Community Support

• Negotiate site control for acquisition of land and/or building
• Prepare applications for competitive funding sources including tax credit allocation, grants, and funding from City, County, State and Federal agencies as appropriate
• Notify community groups and neighbors of intent to develop or purchase project, and maintain ongoing communication with neighborhood interests during design and development
• Identify project investor(s) and lender(s), in collaboration with other development and fiscal staff
• Negotiate and close all agreements associated with project pre-development, development, and post- development funding
• Summarize terms of all financial agreements for use by development, property management and finance departments
• Close out funding sources at completion of project development

New Construction and Acquisition

• Identify and contract with development team, property management, financial officers and other resources, such as environmental consultant, architect and other professional consultants, and general contractor
• Manage ongoing team coordination activities including periodic project meetings
• Prepare and submit periodic reports and manage ongoing relationship with representatives of all funding sources for projects in development
• Coordinate with financial officers to reconcile cost accounting to bank budget and coordinate with the Director Real Estate Development to manage construction and soft costs compared to development budget

ESSENTIALQUALIFICATIONS & SKILLS (Any equivalent combination of knowledge,skills, abilities, education, and experience)

• Bachelor’s degree in business administration, architecture, urban planning, or related disciplines and two or more years of experience in non-profit real estate development, affordable housing, real estate finance, or related fields; or two years of successful coursework in these disciplines from an accredited institution and five or more years of successful experience in non-profit real estate development, affordable housing, real estate finance, or related fields
• Two or more years of experience in non-profit real estate development, affordable housing, real estate finance, or related fields

APPLICATION PROCESS: Armstrong McGuire & Associates, based in Raleigh, NC is conducting this search. To apply, click on the link to the MHO position profile at www.ArmstrongMcGuire.com/apply. You will see instructions for uploading your cover letter, resume and professional references. In case of any technical problems, contact april@armstrongmcguire.com. Review of candidates will begin immediately and continue until the position has been filled. No phone calls please.