Real Estate Developer

CASA is a non-profit housing provider with a mission to provide access to stable, affordable housing for people who are homeless or at risk by developing and managing rental communities. Since 1992, CASA has focused on building and managing affordable housing for low-income families and individuals, with an emphasis on people experiencing homelessness.

CASA manages nearly 500 affordable apartments and homes in Wake, Durham, and Orange counties. CASA is a 501(c)(3) nonprofit organization governed by a 12-person Board of Directors, with a 27-member staff and an operating budget of $5 million. CASA is funded through rental income, philanthropic gifts, and local, state, and federal government grants.

CASA’s Real Estate Development Team (RED Team) initiates, oversees, and delivers high-quality apartments for individuals and families in need of safe, stable housing. With 180+ apartments in the pipeline for new development, we need to grow our RED Team with self-starting, resilient and experienced affordable housing professionals. The Real Estate Developer will be an integral part of this team.

Summary:
Responsible for furthering CASA’s real estate development activity. Initiates and oversees the visioning, partnership development, financing, planning and execution of new construction projects, acquisition and rehab projects, and portfolio dispositions by performing the following duties.

Duties and Responsibilities include the following. Other duties may be assigned.

Initiates and evaluates new development opportunities, including analyzing potential project sites and negotiating acquisitions.

Negotiates and secures financing for acquisition and new construction, analyzing funding options such as Low Income Housing Tax Credits (LIHTC), federal, state and local government funding opportunities, bank financing, and private foundation grants.

Advocates for public funding, including writing, reviewing and submitting funding applications. Advocates directly to funders through formal and informal channels as appropriate. (i.e. offering public comment at a City Council meeting, meeting privately with a County Commissioner)

Advocates for approvals, entitlements and policy changes necessary to complete real estate development activities including annexation, rezoning, variances, bond funding, housing legislation, etc. Accomplishes the above through developing strategy, hiring consultants as needed and representing CASA to obtain.

Prepares forward-looking financial projections for real estate portfolio and makes recommendations for retention or disposition of existing assets.

Oversees and ensures timely and accurate completion of the full range of tasks related to the planning, implementation, and development of affordable housing projects.

Creates and implements development and financing plans, schedules and proformas, and continuously analyzes and reconciles budgets and schedules as development progresses.

Reviews all legal documents required for asset acquisitions and dispositions, loan closings, and legal contracts. Coordinates loan closings. Comprehends and complies with federal, state and local regulations, and program compliance.

Initiates, plans, and oversees procurement process for selecting consultants and contractors and oversees work of consultants, contractors and, vendors.

Monitors progress of projects under development for cash requirements, budget variances, and completion status. Gathers data and provides oversight for accountants preparing cost certifications for new projects.

Monitors projects under construction and during rehab, to include site visits, meetings with design and construction teams, problem-solving, approving and tracking project costs, submitting and tracking requests for payment (construction draws) from funders, and submitting and tracking requests for project modifications or timeline changes.

Undertakes responsibility for administrative duties as needed including document preparation, filing and storage, compliance, reporting, and other duties as needed.

Communicates and coordinates with Property Management Department staff to ensure funding compliance requirements are met.

Communicates, coordinates and collaborates with cross-departmental teams including Fund Development and Programs & Partnerships staff to plan and deliver a spectrum of funding sources to support the varied needs of permanent supportive housing (operating support, supportive services funding, etc.)

Acts as a representative for CASA before public agencies and community organizations, takes a leadership role in CASA’s advocacy activity, and participates in community engagement and policy creation affecting affordable housing.

Supports chief financial officer, chief executive officer, and chief operating officer as needed.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

SUCCESSFUL CANDIDATE MUST BE FULLY VACCINATED; PROOF OF VACCINATION WILL BE REQUIRED.

Language Ability:
Ability to read, analyze, and interpret the most complex documents. Ability to respond effectively to the most sensitive inquiries or complaints. Ability to write speeches and articles using original or innovative techniques or style. Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, public groups, and/or boards of directors.

Math Ability:
Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability:
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Education/Experience:
Bachelor’s degree (B.A./B.S.) from four-year college or university; and four to six years related experience and/or training

Direct experience developing affordable multi-family housing, both new construction and renovation; experience undertaking development using LIHTC preferred.

Direct experience securing financing for affordable multi-family housing projects of at least $1 million.

Certificates and Licenses:
Valid Driver’s License
Real Estate License preferred

Knowledge, Skills and Other Abilities:
Excellent verbal, written, financial analysis, and project management skills.

Excellent problem-solving skills, resiliency, curiosity and creativity.

Strong attention to and retention of detail and strong organizational skills.

Strong leadership skills; ability to inspire a team to achieve collective goals.

Technical knowledge of and significant and varied experience with standard affordable housing tools, policies, laws, and financing practices by which affordable housing is developed, which includes Housing First principles, ADA compliance, zoning and land use controls, HOME, CDBG, LIHTC, Section 3, Davis Bacon, Uniform Relocation Act, NEPA Environmental Review, non-traditional loan structures, and real estate loan documents.

Interest in and passion for affordable housing.

Ability to work independently, meet deadlines, and manage outcomes in a mission driven organization.

Must foster relationships with elected officials, financial partners, professional advisors, and contractors.

Ability to communicate with public officials and regulatory agency staff representing CASA’s interest in a professional and persuasive manner.

Knowledge of housing and community development policy and best practices.

Knowledge/experience with permanent supportive housing models, trauma-informed housing best practices, supportive service delivery preferred.