Senior Project Manager

OVERVIEW:

The Senior Project Manager at CEDAC is primarily a predevelopment lender and technical assistance provider and is also involved in deferred payment loan underwriting. They are expected to work collaboratively with our borrowers and to provide support and technical assistance with a strong customer service focus. The Senior Project Manager 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 additional resources as needed. The Senior Project Manager reports to CEDAC’s Executive Director.

RESPONSIBILITIES:

Predevelopment and Acquisition Lending

• Evaluate predevelopment and acquisition loan requests and make recommendations to the Board.
• Prepare financial and organizational analysis of borrowers. Communicate and problem solve with borrowers to address any questions and concerns resulting from analysis.
• Perform internal loan management functions including project monitoring and reporting, requisition review and approval, and assessing loan loss risk.

Deferred Payment Loan Underwriting and Closing

• Underwrite loan request from borrowers and prepare analysis and recommendations for DHCD.
• Manage the loan closing and disbursement process.
• Perform loan management functions in conjunction with counterparts at DHCD including monitoring project progress, loan status, and compliance with terms and conditions.
• Review and approve borrower requisition requests and prepare reporting documents as necessary.

Technical Assistance and Borrower Support

• Provide technical assistance to borrowers as may be required including assistance in identifying project development opportunities, strategic thinking and planning, and help with site acquisition.
• Provide technical assistance to borrowers relating to the preparation of financing applications and assembling and managing the real estate development team.

Outreach and Marketing

• Market CEDAC loan products and technical assistance services as requested at conferences and meetings.
• Maintain strong relationships with borrowers including marketing CEDAC’s loan products and technical assistance to current borrowers and reaching out to potential borrowers particularly in underserved areas of the state.

Program and Policy Development

• Maintain knowledge of changes in the housing and community development fields related to law, policy, and regulations affecting the availability of affordable housing financing.
• Represent CEDAC as requested in state policy and program development discussions.

CEDAC Operations

• Attend program, department, and agency-wide meetings to foster communication and collaboration.
• Perform other duties as required.

REQUIRED QUALIFICATIONS:

Our ideal candidate has direct non-profit real estate development experience. They are a self-starter with demonstrated leadership in affordable housing development and/or managing and implementing housing and community development policies and financing programs. The ideal Senior Project Manager will be motivated by the opportunity to support nonprofit developers. They will have an entrepreneurial spirit and possess many of the following technical skills and qualifications:

Work Experience

• At least seven years of experience in real estate financial analysis and/or development (relevant Master’s degree may be substituted for 2 years of experience)
• Previous senior level development experience in a community-based or non-profit development organization or a public development finance agency.

Education/Training

• Minimum of a Bachelor’s degree required with a Master’s Degree in city planning, real estate or a related field strongly preferred.
• In-depth understanding of public and private real estate subsidy and financing programs for affordable and supportive housing, preferably in Massachusetts.
• Familiarity with affordable housing development and management including, legal, financial, design and construction, and resident selection

Skills

• Excellent written and verbal communications skills.

• Ability to evaluate project budgets and working knowledge of MS Excel

Other

• Ability to work a hybrid schedule. CEDAC’s offices are located at 18 Tremont Street in Boston. Employees are required to work a minimum of one to two days a week in the office and may work the remaining three to four days a week from home. CEDAC provides computer and related equipment and supplies for working remotely from home.