Director of Housing Development and Preservation

The Director of Housing Development and Preservation is a senior management position that leads the CEDAC housing team in the areas of predevelopment and acquisition lending as well as early-stage technical assistance.  They will work collaboratively with our borrowers to provide support and technical assistance with a strong customer service focus.  This Director will also provide direct technical assistance on complex housing preservation issues to nonprofit developers, tenant advocacy agencies and public agencies.

The Director of Housing Development and Preservation facilitates the successful management of all phases of the real estate development process.  They provide advice to borrowers during development and manage the predevelopment and acquisition loan process from underwriting to disbursement.  They also work with borrowers to achieve successful project completion by helping to identify appropriate funding sources as needed.  The Director of Housing Development and Preservation reports to CEDAC’s Executive Director and supervises Project Managers on the housing team.

CEDAC is an Affirmative Action/Equal Opportunity Employer and encourages applications from candidates from diverse personal, cultural, and ethnic backgrounds.  CEDAC will provide job-specific training as well as professional development opportunities.

CEDAC is a publicly-created community development finance institution (CDFI) that serves as a vital financial and technical assistance resource to nonprofit organizations engaged in effective community development in Massachusetts.  We provide financial resources and technical expertise for community-based and other nonprofit organizations building thriving communities.  We work closely with state and local partners to assist affordable and supportive housing production and preservation programs.

CEDAC provides predevelopment and acquisition loans and technical assistance to nonprofit organizations involved in affordable housing development and preservation across Massachusetts.  In addition, CEDAC staff performs the underwriting activities for several housing loan and grant programs for the Massachusetts Executive Office of Housing and Livable Communities.

CEDAC operates collegially, in a supportive workplace atmosphere.  The ideal candidate must be able to take initiative and operate independently, without substantial oversight.

Qualifications

Candidates for this position should have at minimum a bachelor's degree and at least 12 years related experience in affordable housing lending and/or development, including progressively responsible experience in real estate finance.  A relevant master's degree may be substituted for two years' experience.  In this position a master’s degree is preferred.  Candidates should have previous senior management experience either in community-based development organization or a public or private development finance agency is required for this position.  Leadership in developing, implementing, and managing current housing and community development policies and financing programs is an important attribute.

Excellent written and verbal communications skills are required.  The ability to work at a high level independently is especially important, as is a commitment to non-profit affordable housing development.

Compensation/Benefits

Full-time starting salary range is between $140,000 – $156,150 commensurate with experience and education.

In addition to a competitive salary, this position offers an impressive benefits package that includes:

• Health, dental, life, and disability insurance (please note that at the current time, CEDAC pays the entire medical and dental insurance HMO premium for employees and their qualified dependents).
• Section 125 flexible spending account for medical and dependent care.
• 403(b) deferred compensation plan, vesting immediately.
• Three weeks of paid vacation to start.
• Thirteen paid holidays.
• Three personal days.
• Twelve sick days.
• Hybrid remote/in-office work schedule.

*Please note: Applicants need to live in or are expected to relocate to Massachusetts.

COVID Policy

CEDAC complies with all state and federal guidelines that pertain to Covid-19.  All employees must demonstrate that they are fully Covid-19 vaccinated upon hire.  Employees shall thereafter be required to demonstrate that they continue to be up to date with Covid-19 vaccinations in accordance with the CDC definition of being up to date.