Director of Real Estate Development

Director of Real Estate Development
(Salary Range $110,000 -$136,000 per year with benefits + flexible schedule)
Hybrid Position: Remote + Onsite at Various Properties in Oregon

DevNW and our CDFI partner, Community Lending Works (CLW) are fostering vibrant, inclusive communities by prioritizing housing, asset development, wealth building, and small business development. To do this work, we are deconstructing pervasive systems of oppression such as racism, classism, or sexism that maintain persistent disparities and perpetuate deep imbalances in power, opportunity, and wealth.

The Director of Real Estate Development’s critical contributions to this work are the following:

• Provide executive leadership of our real estate development activities (including affordable rental housing, community land trust (CLT) homes, and mixed-use development) to ensure that DevNW is meeting its housing and community development mission with a strong pipeline of impactful, financially viable, high-quality developments in alignment with DevNW’s strategic plan and state, local, and community goals.
• Provide the in-house expertise and relationships needed to successfully evaluate, develop, and fund affordable housing and other real estate development projects, including up-to-date knowledge of public subsidy sources (including LIHTC, LIFT, private activity bonds, New Market Tax Credits, and others), land use processes, and other knowledge and expertise critical for development.
• Cultivate a knowledgeable, supportive, and high-performing real estate team (currently five members in development, working closely with two in asset management and two in construction management) by providing direct supervision and coaching of the development team, as well as strong collaboration within the real estate department, fostering shared accountability, and creating opportunities for professional development.
• Provide organizational leadership beyond the real estate team, bringing the perspective of real estate development activities to organization-wide planning, budgeting, and decision-making, collaborating with cross-departmental partners, as well as helping shape and uphold organization-wide priorities and initiatives.

To excel in this position, you will need these essential lenses:  

• Recognize and understand that the built environment is a physical and long-standing reinforcement of WHO gets to participate, benefit, and belong in a place; therefore, housing is NOT just four walls and a roof…it is an act of social justice.
• To complete a real estate project from beginning to end takes a team, with each player being accountable for their contributions and supporting one another in the process, including collaboration across DevNW departments and with external partners.
• Recognize that ‘communication is an action’ and essential to arrive at shared clarity and high performance.
• Embrace that the real estate development process is akin to working with “puzzle pieces” that require a questioning approach, persistent pursuit, and driven desire to get to a ‘YES’ to complete projects.

It is CRITICAL that you have…

• Minimum 8+ years* in affordable housing development and finance, other real estate development, or a closely related field;
• A varied portfolio of successfully completed development projects, including projects demonstrating an ability to manage to completion on schedule and within budget;
• Demonstrated knowledge of all phases of real estate development from concept development through completion for one or more of the following: multifamily rental, single-family subdivisions, and mixed-use development;
• Experience using public and private funding sources for development projects, including but not limited to: LIHTC, LIFT, HOME, USDA Rural Development, CDBG, and New Market Tax Credits;
• Experience developing strategic plans for a long-term pipeline of projects, including varied types across multiple counties;
• The ability to effectively coordinate and communicate with development teams that include other DevNW employees, consultants, architects, engineers, builders, public and private sources of financing, and local and state government officials;
• Knowledge of typical construction costs and operating expenses for multifamily rental properties, single-family development, and/or commercial facilities;
• Demonstrated understanding of the principles and practices of project and risk management;
• Experience providing effective supervision for a team of development staff;
• Ability to communicate clearly and effectively in person, by phone/ text, and by email with a variety of partners;
• Proficiency in Microsoft Office suite, Adobe, Zoom, and other critical office technology;
• Excellent organizational skills with an ability to comprehend and efficiently + effectively manage complex processes and documents such as engineering plans + specifications, legal, architectural drawings, plats, codes, surveys, CNAs, appraisals, and more.
• Firm understanding of financial modeling, including the capability of building and modifying financial pro formas.
• Strong communication skills, both verbal and written. Ability to communicate clearly, convincingly, and diplomatically with staff, project partners, community members, and jurisdictional partners.

*can be a combination of education/field experience that demonstrates required knowledge, skills, and abilities

Example tasks/responsibilities for the Director of Real Estate Development:

The Director of Real Estate Development may perform any or all of the following duties, directly and/or indirectly, through the work of other staff and contracts for professional services.

• Manage all phases of the real estate development process, from concept to completion, through your own work or the oversight of development staff, including:
  • Site selection and feasibility analysis;
  • Developing detailed financial pro formas;
  • Writing applications for and securing project financing;
  • Securing and coordinating the services of external development professionals;
  • Securing land use approvals;
  • Negotiating agreements;
  • Overseeing construction;
  • Transferring project to asset and property management;
  • Completing cost certification and project closeout.
• Work with the CEO, development team, and other key staff to create a strategic plan for real estate development and a pipeline of projects that meets the needs of the communities we serve and best utilizes available funding opportunities;
• Use a variety of data collection tools and procedures to develop community needs assessments, housing market analyses, and project concepts;
• Work with the CFO to create and monitor the Real Estate Development Department operating budget and cash flow, as well as individual project budgets;
• Monitor project expenditures and progress and establish mechanisms for assuring that projects are completed on time and within budget.
• Cultivate positive relationships with funders, municipal staff, architects and contractors, community stakeholders, and other key partners.
• Coordinate outreach to impacted neighborhoods, develop community support, and maintain positive neighbor and community relations during all phases of the development process.
• Create complex spreadsheets for the financial modeling, forecasting, and analysis of real estate development projects;
• Negotiate and manage agreements and contracts.

It is GREAT if you have…

• Working relationships with a network of Oregon-based architects, engineers, general contractors, construction lenders, and other development professionals;
• Familiar working relationships with jurisdictional staff in our service counties, including Planning, Public Works, and Building Departments.
• Experience completing applications for (and being awarded) public funding sources for affordable housing;
• Experience with Asset Management and/or the long-term operations of affordable housing projects.

It is a BONUS if you also have…

• Lived experience within a community that has been historically/systemically marginalized from housing and homeownership opportunities;
• Ability to speak, read, and/or write in Spanish;
• A Master’s Degree in real estate development or a related field.

Apply for this opportunity by providing an introduction letter detailing your interest that includes the following to careers@devnw.org with the subject line of “Director of Real Estate Development Application.” The position will remain open until filled; resumes will be reviewed beginning 9/23/23.

1. Describe how your journey thus far has prepared you for the Critical Contributions of this position.
2. Share a pdf portfolio of 2-3 affordable housing projects you have developed, including basic characteristics of the project, your role, funding sources used, and a short narrative about major challenges faced and how they were overcome. The portfolio does not need to be extensive but should include enough detail to demonstrate the breadth of your experience.
3. Current resume

DevNW is an Equal Employment Opportunity Employer. All qualified persons are encouraged to apply. Applications for employment will be considered without regard to race, color, national or ethnic origin, religion, gender, gender identity, sexual orientation, marital status, age, disability, and any other characteristic protected by applicable law.

Studies have shown that women and people of color are less likely to apply for jobs unless they meet every one of the qualifications listed.  We are most interested in finding the best candidate for the job, and that candidate may be one who comes from a less traditional background.  If you meet key qualifications for the job, and believe you would be the best fit, we would encourage you to apply; please use your cover letter or introductory email to explain how you will accomplish parts of the job for which you have less experience.  If you are unsure whether you meet the qualifications of this position, please feel free to contact us.

DevNW values diversity and supports a welcoming, inclusive environment where all of our employees can thrive. We value a workforce that is representative of the communities we serve.