Director of Real Estate

Job Type
Senior Level Positions
Organization
NOAH
Contact Name
Phil Giffee
Contact Email
pgiffee@noahcdc.org
Contact Phone
Address

143 Border St.
East Boston, MA
United States

Job Description

Director of Real Estate Development (Revised and reposted, February 2022)

Is now the time to make the job or lifestyle change you’ve been thinking about? This may be your job!

NOAH is seeking a skilled, innovative, practiced, resilient and personable Director of Real Estate Development. We need an experienced and entrepreneurial leader who will help locate/secure projects and build our pipeline, as well as process, manage and complete our current projects, which include a diversity of affordable and mixed income, mixed-use and multi-family housing development activities in East Boston, suburban communities and Gateway Cities in Eastern/Central Massachusetts.

(If you are reading this but are a skilled, but less experienced professional in the affordable field on your way up, consider applying as a Senior Project Manager by going to our web site for that description).

Background:      NOAH has an active and noteworthy portfolio throughout Greater Boston with several interesting and challenging friendly 40b projects near TOD stations, another historic deal in a downtown, set to close in June, and an artist-themed mixed-income rental awaiting One Stop approval.

The hardships of so many individuals and families are downright daunting; more needs to be done. The market too often leaves low and middle-income families and individuals behind. For example, larger 40b’s build needed multi-families, but too few of those units are really affordable and do not add much depth. Along with our current work, including the refinancing of 128 three-decker units in East Boston, NOAH aims to secure: a. several of these permitted 40b’s so that more families of limited means can access suburban opportunities; and/or b. secure sizable properties or sites which can be developed for mixed-income families.

The ideal candidate will have the following skills and background:

Managed and underwritten several sizable Massachusetts LIHTC and mixed-use, mixed-income, affordable housing projects from concept to loan closings, through construction, to occupancy and then through cost certification,

Worked in Massachusetts and understands the private equity/debt financing system, having negotiated and secured financing for LIHTC/bond projects,

Experience in having prepared project narratives, assembled and submitted DHCD’s One Stop applications,

Networked with and relates well with MA housing intermediaries and private sector lenders/investors,

Ability to represent NOAH in a professional manner before the general public, municipal agencies as well as municipal boards and commissions,

Contracted/managed architects, General Contractors and subs, civil engineers, surveyors, et al, 

Developed ‘Green’ and resilient projects from LEED to Passive House using all available resources. Climate Change remediation through carbon reduction strategies in our developments is a very high priority.

Environmental remediation, Historic tax credits, and Asset Management experiences are expected.

Participation in the Asset Management of our expanding portfolio is an increasingly important necessity for our agency.

Please note: NOAH also operates an East Boston based, three-decker, acquisition program (AOP), funded by the City of Boston, in order to prevent displacement of LMI families. We would very much like to re-generate and expand this critical and unique program by using a new Housing Stabilization Fund for East Boston as soon as per unit underwriting is expanded by the City.

Supervisory experience is expected. Master’s in RE or MBA preferred. Hybrid work of course.

A solid working relationship with NOAH’s Executive Director will benefit.

Salary:                                  $135-150K++ depending on experience and ability to bring on/develop 40b's. Or, tell me why your ability to produce potentially deserves more.

Bonus potential:              Highly Advantageous: Bringing 1-3 new projects of at least 75-150+ mixed-income units on line in the next two years. Securing a 100+ unit, permitted 40b in order to broaden/deepen affordability is a major goal. Bringing projects in on time/on budget will be rewarded.

Sr. Proj Mgr:                       $90 - $120K

Application Instruction

Application Instructions:

If you’ve felt confined in one of the Commonwealth’s terrific larger non-profits, or perhaps you’ve done affordable deals in one of the private firms out there but you want more creative freedom and a more independent work environment, perhaps now is the time to make a change, enhance your career and make a significant difference in the production of affordable and mixed-income housing.

If so, please submit a thoughtful cover letter explaining your interest in our work along with your resume.  We would like to get a sense of why this position, and doing blended mixed-income, affordable development work of a Community Development Corporation (CDC) is both important to you and how you can help NOAH achieve our production goals.  We have a solid development history and an energetic, skillful and dedicated team here at NOAH. Please submit your materials to:

Phil Giffee/Executive Director/NOAH. pgiffee@noahcdc.org          www.noahcdc.org