POSITION TITLE: DEVELOPMENT MANAGER
For more information interested candidates should contact dbg@northarrowpartners.com
RESPONSIBILITIES
Real Estate Acquisitions:
Conducts new housing site search and feasibility analysis to
support company’s land acquisition functions for ground-up developments.
Performs cold calling to prospective sellers and maintains
and updates real estate call-log.
Negotiates purchase price, prepares letters of intent, and
assists with the drafting of purchase and sale agreements.
Affordable Housing Funding Applications:
Researches and maintains database of current affordable
housing funding sources and application timelines. Maintains current knowledge
of guidelines, policies and procedures for HUD, IHDA, Low-Income Housing Tax
Credit, and all other housing development subsidy programs as required.
Assists with the completion of real estate development
project funding applications including: Low Income Housing Tax Credits (LIHTC),
Federal Home Loan Bank (FHLB), and any additional local and state level funding
sources.
Researches market sales comps, rents, utilities, real estate
taxes, and other pertinent information to assist with the underwriting of new
development opportunities. Participates in the review of budgets, assumptions,
and pro-forma analysis.
Coordinates with staff architects, construction managers,
and 3rd party consultants to prepare construction drawings, site studies, and
other pertinent reports in support of funding applications.
Closing Functions:
Assists with closing related documents including Owner Sworn
Statement, Tenant Selection Plan, Property Management Plan, Property Management
Agreement, Fair Housing Plan, etc.
Participates in final project close out activities
including, but not limited to: ensuring all benchmarks for final completion and
payments are met; facilitating the conversion to permanent financing; securing
8609s; and completing cost benefit and quality control analysis of the project
Other Responsibilities:
Maintain electronic document filing archive system for all
housing development applications.
Establish and maintain working relationships and
communications with elected officials, State Housing Authorities, Federal Home
Loan Bank (FHLB), equity syndicators, private banks, and any other funders in
coordination with Partners.
For more information interested candidates should contact dbg@northarrowpartners.com