Real Estate Development Officer

Avesta Housing is a nonprofit affordable housing provider with nearly 50 years of experience as a leader in affordable housing development and property management in southern Maine and New Hampshire. We are headquartered in Portland, Maine and currently have 109 properties, 3,300 apartments, and two assisted-living facilities in our portfolio.

Our mission is to improve lives and strengthen communities by promoting and providing quality affordable homes for people in need. We are focused on five areas of affordable housing: advocacy, development, property management, senior/assisted living, and homeownership.

Named Best Places to Work in Maine 2020, our staff is passionate about affordable housing and the positive impact it has on lives and communities. We strive to create strong teams, meaningful career growth, and outstanding work environments.

Position Summary: Coordinate development, financing and construction of multifamily affordable housing. Our skilled development staff contributes extensive management, legal, financial, community planning, and construction experience. Avesta adheres to smart growth principles, sustainability guidelines, and design standards informed by Avesta’s development and property management experience.

Essential Functions:

· Underwrite deals; prepare proformas and operating budgets for multifamily housing developments.

· Prepare financing and grant applications for submission to housing finance agencies, HUD, Rural Development, banks and other lenders and organizations.

· Manage development and design team members including architects, contractors, accountants, surveyors, and attorneys.

· Coordinate due diligence for assigned developments.

· Manage development timeline and deliverables ensuring critical milestones are met.

· Manage all aspects of funding, including working with syndicators/investors, requesting capital installments, providing reports or any other documentation to lenders or other funding partners.

· Track and monitor project costs.

· Work with municipal staff and officials to obtain permits and approvals.

· Work with attorneys and lenders to prepare and manage closing process.

· Oversee project requisitions process and funding draws.

· Work closely with construction services team during design development and construction phases.

· Work with property management and asset management team to coordinate and manage lease up and transition post completion.

· Represent agency during interactions with municipal officials, state officials, federal officials and vendors during housing development process. Provide comment and testimony to public officials.

· Participate in community and state associations and housing groups.

· Must be willing to visit sites and drive in personal car as necessary to perform job functions.

Qualifications:

· Bachelor’s degree required; graduate degree or post bachelor’s education or certificate in related field a plus.

· At least 3 years of experience in real estate development, finance/underwriting, or a directly related field.

· Thorough knowledge of multifamily housing finance including proficiency with proformas.

· Strong project management skills.

· Knowledge of Low Income Housing Tax Credits and other affordable housing funding sources desired.

· Experience with HUD, Rural Development, and/or public housing finance agencies desired.

· Excellent communication, analytical and writing skills.

· Understanding of zoning, land use, municipal processes, etc. a plus.

· Proficient in Excel and ability to use other relevant software and technology.

· Ability to build and maintain strong and collaborative relationships.

· Highly attentive to detail and ability to multi-task.