TND Real Estate Director

OppCo partners provide stable homes within great neighborhoods, which serve as a foundation for thriving families and individuals.  Our homes and neighborhoods promote healthy families as well as work, economic, and educational success.

The Neighborhood Developers (TND) is a community development corporation based in Chelsea and working in Chelsea, Revere and Everett. TND’s mission is to bring its core strengths – building homes, engaging neighbors, and fostering economic mobility – to community partnerships that create great neighborhoods where all people can thrive. TND has a real estate portfolio of about 425 homes and about 20,000 sq. ft. of commercial space in Chelsea and Revere. TND also has a development pipeline of about 350 homes, including new construction and renovation, in a range of projects that mix uses, incomes and styles to meet community needs.

The Director of Real Estate is responsible for overseeing all aspects of The Neighborhood Developers’ real estate development projects, managing a team of 2-to-4 people, with support from a strong consultant network as needed.  The Director of Real Estate has demonstrated expertise in managing complex real estate developments from origination through stabilized occupancy or sale, and a track record of leading partnerships that include public and private lenders, development team members and community leaders, as well as experience supervising staff. Strong analytic thinking, negotiation skills, and initiative are important.

Essential Job Functions and Responsibilities:

• Supervise and provide guidance to team of real estate project managers in their management of individual developments (see “Work Requirements and Qualifications” for more details).

• Grow the real estate pipeline through prospecting and creating new ideas for partnerships, to meet community needs for housing and commercial uses, expand the agency’s portfolio, and generate revenue for the agency’s annual operating budget.
• Update and refine, as needed, the department’s systems, to deliver consistently high-quality homes and commercial space.

• Report regularly to the agency’s Executive Director and Board of Directors, and OppCo’s Senior VP of RE, on the feasibility analysis of potential projects, and the progress and risk management of ongoing projects.
• Develop and cultivate relationships with key stakeholders such as funders, investors, elected officials, community leaders, and others who will help support and advance affordable housing.
• Advocate for housing policies that will help make projects more successful.
• Prepare multi-year cash flow and expense analysis, for the Finance Department’s budget planning.
• As part of senior management team, prepare the department’s annual and five-year strategic plans and other related organizational documents to situate the real estate department’s work within the larger context of TND and OppCo.
• Participate in regular meetings on management of the agency’s portfolio, collaborating with the agency’s property and asset managers.

Other Non-Essential Functions

• Actively participate in TND’s senior leadership team.
• Participate in relevant industry forums and committees such as CHAPA, MACDC, or ULI as requested by TND to stay current with the field, and increase visibility for the organization.
• Undertake initiatives that will further TND’s mission and departmental goals.
• Play a key role in the representation of the CDC and OppCo to the community, funders, investors, elected officials, and other key stakeholders.
• Perform other duties as needed as part of senior management team of CDC and OppCo.

Work Requirements and Qualifications

• Must have a thorough understanding of real estate development, including familiarity with regulatory process, deal structuring, finance, design and construction management.
• A demonstrated ability to manage all phases of development process, in order to supervise project management staff responsible for day-to-day implementation of development, including:
  • Identify, research and perform due-diligence on potential sites for acquisition; assist with securing site control
  • Assemble development team, including design, construction and development consultants; negotiate contracts and coordinate development team throughout the development process
  • Coordinate permitting with municipal officials, legal counsel and architects; manage community process
  • Identify funding and investment opportunities; prepare financing proposals and other materials required to secure commitments
  • Coordinate closings and property acquisitions with funders/lenders and legal counsel
  • Select appropriate construction management approach on project-specific basis; manage and oversee the approach selected
  • Monitor project progress including schedule and budget variances
  • Prepare reports required by funders, investors, and internal management
  • Coordinate project marketing and occupancy in conjunction with property management staff            

• Experience with Low Income Housing Tax Credits and other affordable housing funding sources, including significant role in a complex transaction (e.g., one involving LIHTC).
• Strong critical thinking and negotiating skills.
• Demonstrated ability to express thoughts and ideas clearly and concisely, verbally and in writing
• Strong computer skills, including use of Excel spreadsheets and word processing.
• Demonstrated ability to work effectively with a wide variety of for-profit, non-profit, public and quasi-public development partners.
• Demonstrated ability to sustain productive, long-term relationships with other agency staff, development team members, public officials, funders and lenders and the community.
• Demonstrated ability to work in a diverse community.

• Bachelor’s degree and a minimum of 10 years of experience in development or financing of affordable housing; Master’s degree in planning, real estate, or related field preferred and may substitute for up to 5 years of experience.
• Aptitude and interest in relationship building, outreach/organizing, neighborhood planning, and community development.
• Experience working with low-income families, seniors and non-elderly disabled people.
• Demonstrated strong cultural competence for working in a diverse multi-cultural community.
• Responsible, self-motivated, and able to carry out and prioritize multiple ongoing projects
• Excellent verbal and written communication skills.
• Bi-lingual language skills are desirable; prior personal or professional experience in agency’s geographic area is a valuable asset.
• Demonstrated ability to work independently and as part of a team.
• Skillful organizer with demonstrated problem-solving initiative.
• Strong work ethic, a good sense of humor, and a commitment to social justice.
• Proficiency with MS Excel, PowerPoint, Word required. Knowledge of SalesForce or similar program, and Adobe Design programs, is preferred.
• Willingness to work a flexible schedule, including nights and weekends.

Other qualifications desired, but not required:

• Experience working in a diverse multi-cultural community
• Experience producing e-newsletters and developing marketing campaigns
• Knowledge of affordable housing and community development issues

Physical Requirements

• Ability to navigate an active construction site safely.

Qualification Requirements:

To perform this job successfully, an individual must be able to perform each essential function in a satisfactory manner. The requirements listed above 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.

Physical Requirements:

The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.