The Alden Network
Development Manager
The Alden Network, Chicago, Illinois, United States, 60290
About The Alden Foundation: Founded in 1996, The Alden Foundation is a nonprofit affordable housing developer that has successfully developed and operates more than 1,000 units of affordable housing for seniors across 14 communities. Our mission is to foster and expand affordable housing opportunities for low-income seniors by distinctively designing & developing communities that residents proudly call home, offering programs and services to maximize independence, and promoting healthy aging in place. We believe deeply that all people, regardless of means, should be able to live affordably in a beautifully designed and welcoming environment that they can proudly call home.
Position Description: The Development Manager is responsible for all aspects of an affordable housing project's development from identifying project opportunities & feasibility, managing pre-development, and closing, and monitoring construction through project close-out and lease up. The Development Manager will oversee multiple developments simultaneously, participating in project 'life' from acquisition to completion of construction and lease-up, including financial analysis, design and construction, and transfer of the completed project to the property management function. The successful candidate will be responsible for managing all aspects of their projects including entitlements, due diligence, design, contracting, financing applications, transactions, and construction.
Essential Duties and Responsibilities:
Pre-development• Engage with federal/state/local agencies, lenders, investors, and other funding partners to complete necessary due diligence to achieve financing approvals required for closing.• Assist throughout zoning and predevelopment process, including preparing correspondence and/or applications as needed including attending plan commission and zoning meetings with our teams for new developments.• Collaborate with internal and external team members on project design and construction scopes following best practices, site specific requirements, and design preferences and goals that emerge through the planning process.• Draft necessary documentation & applications to secure project financing, including low-income housing tax credits, public 'gap' sources, private debt, and tax credit equity.• Serve as sponsor's representative when engaging & managing third-party contractors associated with the development of new affordable housing projects and renovation of existing projects.
Project Management• Work with the development team and external partners to achieve key project milestones including initial closing, construction start and completion, occupancy, and stabilization.• Prepare & manage the monthly owner's draw requests for new construction and renovation projects. Ensure project deliverables are met, cash flow & budgets are forecasted appropriately, and all parties receive timely, accurate, & consistent information.• Participate in monthly construction meetings with GC, Architect, & Funders to serve as the owner's representation and ensure development team is achieving all deliverables.• Review project proposals and deliverables with development team members to determine proper lead time, funding limitations, procedures, and allotment of available resources to various phases of projects.• Coordinate with contractors, architects, and other design consultants to achieve construction documents and construction contracts that meet the project budget, including any necessary value engineering.• Maintain good communication with vendor contacts to ensure dates and scopes are clear. Investigate and resolve or refer disputes in accordance with contractual requirements.• Communicate frequently, candidly, and proactively with colleagues and retained professionals to seek input, develop consensus, troubleshoot issues, and achieve successful outcomes.
Administrative• Conduct research and analysis associated with the development of affordable housing projects at the direction of the Executive Director.• Oversee the development database, electronic filing system, and all administrative systems associated with the development of affordable housing projects.
Qualification and Competency Requirements:
Experience and Education• Bachelor's degree in urban planning, real estate, business administration, community development, or related field required.• Minimum five years of professional experience, with at least three years of experience in affordable housing development with a proven track record of successful project completion.• Demonstrated experience with project management and ability to manage multiple projects simultaneously is required.• Preference for candidates with strong understanding of affordable housing development processes including financial applications and structuring; involvement in predevelopment activities; experience with multifamily housing design, construction, and financial closings; familiarity with low-income housing tax credits (LIHTC), HUD subsidy, and financing programs and local and state sources.
Computer Skills• Excellent computer skills with strong proficiency in Excel, Word, PowerPoint, Outlook, and Project Management platforms (knowledge of Northspyre a plus).
Additional Attributes• Ability to work independently and self-manage to achieve goals while being a strong team player.• Ability to exercise excellent independent judgment and take ownership of decisions.• Ability to organize, meet deadlines, and delegate appropriately.• Excellent communication skills & ability to work collaboratively with multiple stakeholders.• Strong analytical & critical thinking skills with ability to use data to inform decision-making.• Ability to cope with and embrace change, risk, and uncertainty.• Ability to develop strong relationships within a fast-paced, collaborative setting that values diverse opinions; enthusiasm for helping drive change as The Alden Foundation becomes a more data-driven organization.
Work Schedule: The typical schedule for this position is Monday-Friday, normal business hours, with occasional nights and weekends, depending on the needs of the position and the organization.
Other: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Physical Activities and Working Conditions
The physical demands and working conditions described here are representative, but not exhaustive, of those that must be met by an employee to successfully perform the essential functions of this job.• This position is typically performed in an interior, environmentally controlled office setting. The duties of the job require extended periods of time being stationary and manipulating a computer (keyboard, monitor, mouse), and other standard office equipment including, but not limited to: printer, fax, calculator, copier, telephone and associated computer/technology peripherals.
Position Description: The Development Manager is responsible for all aspects of an affordable housing project's development from identifying project opportunities & feasibility, managing pre-development, and closing, and monitoring construction through project close-out and lease up. The Development Manager will oversee multiple developments simultaneously, participating in project 'life' from acquisition to completion of construction and lease-up, including financial analysis, design and construction, and transfer of the completed project to the property management function. The successful candidate will be responsible for managing all aspects of their projects including entitlements, due diligence, design, contracting, financing applications, transactions, and construction.
Essential Duties and Responsibilities:
Pre-development• Engage with federal/state/local agencies, lenders, investors, and other funding partners to complete necessary due diligence to achieve financing approvals required for closing.• Assist throughout zoning and predevelopment process, including preparing correspondence and/or applications as needed including attending plan commission and zoning meetings with our teams for new developments.• Collaborate with internal and external team members on project design and construction scopes following best practices, site specific requirements, and design preferences and goals that emerge through the planning process.• Draft necessary documentation & applications to secure project financing, including low-income housing tax credits, public 'gap' sources, private debt, and tax credit equity.• Serve as sponsor's representative when engaging & managing third-party contractors associated with the development of new affordable housing projects and renovation of existing projects.
Project Management• Work with the development team and external partners to achieve key project milestones including initial closing, construction start and completion, occupancy, and stabilization.• Prepare & manage the monthly owner's draw requests for new construction and renovation projects. Ensure project deliverables are met, cash flow & budgets are forecasted appropriately, and all parties receive timely, accurate, & consistent information.• Participate in monthly construction meetings with GC, Architect, & Funders to serve as the owner's representation and ensure development team is achieving all deliverables.• Review project proposals and deliverables with development team members to determine proper lead time, funding limitations, procedures, and allotment of available resources to various phases of projects.• Coordinate with contractors, architects, and other design consultants to achieve construction documents and construction contracts that meet the project budget, including any necessary value engineering.• Maintain good communication with vendor contacts to ensure dates and scopes are clear. Investigate and resolve or refer disputes in accordance with contractual requirements.• Communicate frequently, candidly, and proactively with colleagues and retained professionals to seek input, develop consensus, troubleshoot issues, and achieve successful outcomes.
Administrative• Conduct research and analysis associated with the development of affordable housing projects at the direction of the Executive Director.• Oversee the development database, electronic filing system, and all administrative systems associated with the development of affordable housing projects.
Qualification and Competency Requirements:
Experience and Education• Bachelor's degree in urban planning, real estate, business administration, community development, or related field required.• Minimum five years of professional experience, with at least three years of experience in affordable housing development with a proven track record of successful project completion.• Demonstrated experience with project management and ability to manage multiple projects simultaneously is required.• Preference for candidates with strong understanding of affordable housing development processes including financial applications and structuring; involvement in predevelopment activities; experience with multifamily housing design, construction, and financial closings; familiarity with low-income housing tax credits (LIHTC), HUD subsidy, and financing programs and local and state sources.
Computer Skills• Excellent computer skills with strong proficiency in Excel, Word, PowerPoint, Outlook, and Project Management platforms (knowledge of Northspyre a plus).
Additional Attributes• Ability to work independently and self-manage to achieve goals while being a strong team player.• Ability to exercise excellent independent judgment and take ownership of decisions.• Ability to organize, meet deadlines, and delegate appropriately.• Excellent communication skills & ability to work collaboratively with multiple stakeholders.• Strong analytical & critical thinking skills with ability to use data to inform decision-making.• Ability to cope with and embrace change, risk, and uncertainty.• Ability to develop strong relationships within a fast-paced, collaborative setting that values diverse opinions; enthusiasm for helping drive change as The Alden Foundation becomes a more data-driven organization.
Work Schedule: The typical schedule for this position is Monday-Friday, normal business hours, with occasional nights and weekends, depending on the needs of the position and the organization.
Other: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Physical Activities and Working Conditions
The physical demands and working conditions described here are representative, but not exhaustive, of those that must be met by an employee to successfully perform the essential functions of this job.• This position is typically performed in an interior, environmentally controlled office setting. The duties of the job require extended periods of time being stationary and manipulating a computer (keyboard, monitor, mouse), and other standard office equipment including, but not limited to: printer, fax, calculator, copier, telephone and associated computer/technology peripherals.