Reports to: CEO Employee
Status: Full-time Exempt
Salary: Starting at $90,000, based on qualifications
Community Desk Chicago (“The Desk”) is a community development intermediary leveraging relationships, aggregating risk tolerant capital, and working intentionally in underserved communities to shift power dynamics and create a path to advance economic prosperity through community wealth-building and small-scale infill commercial real estate development.
The Desk’s long-term vision is a Chicago where all communities have the resources they need to create healthy built environments that support their goals for vibrant spaces, positive economic activity, and community wealth-building.
As an intermediary, The Desk’s work is centered around three strategic pillars including 1) leveraging and coordinating place-based capital, 2) supporting small-scale infill commercial real estate development and 3) advocating for systems change.
Through collaborative efforts and direct technical assistance and coaching, The Desk supports local nonprofits, community developers and entrepreneurs to build community self-reliance and improve the quality of life for residents through commercial corridor revitalization efforts. These efforts support local ownership and activation of underutilized community assets.
In addition to providing direct project support, The Desk works closely with critical stakeholders in the community development ecosystem to design and launch initiatives as well as improve processes and programs that increase capital flow, wealth building and real development capacity in communities. More information about The Desk can be found at www.communitydeskchicago.org.
The Desk launched its signature programs including the Neighborhood Developers Initiative and Community Investment Vehicles while incubating at a local community foundation. The Desk recently launched as a 501c3 not-for-profit organization to expand those programs with a focus on supporting communities in transforming their commercial corridor. Under the direction of the CEO, the Senior Director of Real Estate Program will play a critical role in maintaining and launching current and anticipated real estate programs.
Position Responsibilities
- Support the launch and expansion of Desk programs including creating project budgets, timelines, KPIs and launch strategy.
- Manage a portfolio of real estate projects to help advance Desk initiatives as well as community-based development projects.
- Coordinate the assessment and financial feasibility of real estate development projects receiving Desk investments including but not limited to creating preliminary budgets, completing early-stage due diligence, assessing potential returns and identifying risks.
- Conduct property research and navigate the various public online systems to research and secure properties (e.g., tax records, building code violations, zoning, etc.).
- Coordinate and secure capital required to complete development projects including but not limited to applying for City of Chicago grants, DCEO grants, CDFI loans, philanthropic grants and others.
- Coordinate and manage vendors and consultants required to complete real estate development projects (e.g., attorneys, architects, property managers, brokers)
- Assist local community development corporations (CDCs), entrepreneurs, community developers and other stakeholders with advancing their real estate development projects on commercial corridors (e.g., grant application support, city approvals, community outreach, etc.)
- Research investment models and trends to recommend creative funding strategies for projects.
- Coordinate with capital market experts to assist with deal structuring and terms.
- Codify lessons learned for knowledge sharing in the community development ecosystem.
- Other responsibilities as identified to support the launch of new programs and initiatives.
- Master’s degree in finance, business administration, urban planning, real estate or community development is preferred. Bachelor’s degree in a related field of study is required.
- Minimum of 7 years of related work experience, 10 years preferred
- Demonstrated understanding and commitment to The Desk’s mission
- Understanding of real estate development, community development, innovative financing and complex deal flows
- Direct experience underwriting, evaluating or coordinating capital requests including experience with NMTCs, TIF and other development incentives
- Direct experience or working knowledge of small business financing including SBA lending
- Ability to work collaboratively and build relationships with a variety of partners across Chicago including community residents, nonprofits, philanthropic organizations, developers, traditional investors, impact investors, financial institutions, and legal advisers
- Ability to self-start and approach the role with an entrepreneurial spirit
- Strong quantitative skill set to apply to project feasibility and capital coordination
- Experience managing programs including program design, team and outcomes
- Experience in project management, with the ability to assess and resolve implementation issues and to establish best practices
- Effective listening skills and business acumen to engage with projects and key stakeholders
- Ability and desire to work in culturally diverse environments
- Demonstrated interest in working for and supporting a start-up organization
- Travel up to 25% Willingness to work beyond normal working hours and on weekends, when necessary
- Must be willing to work in the office up to two days per week
- Must have access to vehicle for site visits