Company Description:
AHEPA Senior Living (ASL) is a non-profit organization dedicated to providing safe, dignified, and affordable housing and quality aging services to seniors since 1980. The commitment to service and excellence at ASL's communities is unwavering and trusted by many.
Job Summary:
The Vice President of Housing Development leads the organization’s affordable housing development efforts, including new construction, acquisition, and preservation of communities serving older adults. This role is responsible for moving projects from concept through stabilization and ensuring they are delivered on time, on budget, and aligned with the organization’s mission and long-term growth strategy. Working closely with executive leadership, the Vice President will help expand the organization’s affordable housing portfolio and establish a more formalized development function. This is an opportunity to build structure, processes, and pipeline while advancing both new development and preservation initiatives.
Job Duties/Responsibilities:
Demonstrated experience structuring LIHTC transactions and layered financing for new construction and preservation projects, including recapitalization and repositioning. Strong knowledge of HUD programs, particularly Section 202 and Rental Assistance Demonstration (RAD) conversions, preferred. Lead the development process from inception to closing, which includes, but is not limited to site identification, contract negotiations, entitlement work, underwriting, site design, relationship building / management with development and agency partners, etc. Prepare and submit financing packages including Low-Income Housing Tax Credit, Tax Exempt Bond, HUD financing and other soft financing as needed and/or rental subsidy applications. Determine geographical and financial feasibility of new real estate opportunities. Complete real estate analysis, including site visits, preliminary internal market studies and utility availability research. Coordinate third party due diligence reports. Perform, coordinate and / or lead pre-development work such as preliminary architectural and engineering issues, zoning issues, and local government support. Participate in the completion of zoning, development plan, and other required applications to municipalities. Calculate financial feasibility of proposed developments including initial pro forma analysis. Complete various reports to state housing finance agencies and other funding sources as required. Coordinate with internal departments and external third parties to successfully deliver projects. Oversee the asset management of AHEPA Senior Living’s affordable assisted living communities (AALCs).Identify and oversee the execution of acquiring new properties. Participate in the vetting of general contractors during the bidding process for new building/rehabilitation projects. Perform other duties as assigned.
Education/ Qualifications/Skills:- Bachelor’s degree in business, Real Estate, Finance, Investments or related, required 5-10 years’ experience preparing and submitting financing packages for various project types
- Self-starter who is able to work with minimal supervision
- A team player with an ability to operate effectively in a fast-paced environment
- Ability to work on multiple projects simultaneously with frequent interruptions
- Low Income Housing Tax Credit application experience
- Excellent communication/interpersonal and listening skills
- Proficient computer, spreadsheet and math skills
- Must be available and able to travel
- Must have and maintain a valid driver’s license
- Physical Requirements/Working Conditions
Ability to remain stationary 50-100%; position self to exert 10-30lbs of force or to move objects; move about to access office cabinets, machinery, etc.; operate a computer or other office machinery; frequently communicate and exchange accurate information; perceive visual acuity to operate office machinery; work around varying internal and outdoor environmental conditions such as temperature changes, noise, movement, atmospheric conditions, etc.
