Assistant Director of Development - Chicago

Assistant Director of Development – Holsten Real Estate Development Corporation

Responsibilities

• Manage and coordinate all phases of development, including financial modeling, securing necessary approvals for financing, design development, financial closing, and overseeing financial management and timeline of project during construction, lease up, and permanent financing conversion.
• Manage efficiently tasks necessary to obtain permits and other approvals, including design development, submission of applications, attendance at community meetings, and ongoing coordination with the design team.
• Analyze project financial feasibility, including creating and updating complex proformas and budgets. Deal structures may include low-income housing tax credits, tax-exempt bonds, historic tax credits, public subsidies, and private or agency debt.
• Preparation of appropriate applications for funding resources, including Qualified Action Plans (QAPs) for City of Chicago Department of Housing and Illinois Housing Development Authority. 
• Structure and negotiate real estate development transactions utilizing affordable housing financing tools.
• Review legal documents, including partnership and consultant agreements, to ensure key business terms are accurately reflected.
• Coordinate with property management and resident services during predevelopment, relocation during construction, and lease up of the property to ensure smooth tenant relations.
• Continue project management tasks through construction completion and lease-up, including adherence to schedule, construction draw and change order processing, and quality control.
• Represent Holsten, helping to build and strengthen working partnerships with city governments and public agencies; community groups and tenant organizations; and project team members. 
• Perform other duties as needed and as assigned.

 

Qualifications

-       Minimum three (3) years of project management work related to real estate development, planning, architecture, community development or construction management. Real estate transactional experience and understanding of affordable housing programs strongly preferred.

-       Bachelor’s or Master’s degree in real estate, economics, business, architecture, public administration or other related fields.

-       Strong financial and analytical skills, including experience with financial modeling of tax credit transactions in Excel. 

-       Highly organized and detail-oriented.

-       An entrepreneurial mindset and creative approach to problem-solving in the field of real estate development. Ability to work independently as well as be a team player.

-       Ability to communicate effectively, both verbally and in writing. Excellent public presentation/speaking skills.

-       Ability to work with diverse stakeholders, including public agencies and community groups.

Salary will be commensurate with experience and qualifications. Excellent benefits provided.  The position reports to the Director of Development and will work closely with the Director of Construction and President of Holsten Real Estate Development Corporation.

To apply, please send your resume and cover letter to Donna Clayborn at donnaclayborn@holstenchicago.com

Holsten is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws

Vice President, Syndication Funding - Cinnaire Corporation

Title: Vice President, Syndication Funding

Type: Hybrid

Office Locations: Chicago, IL; Detroit, MI; Grand Rapids, MI; Indianapolis, IN; Lansing, MI; Madison, WI; Wilmington, DE 

Job Summary: The Vice President, Syndication Funding raises equity capital and manages investor relationships for Cinnaire’s Low Income Housing Tax Credit (LIHTC) funds.

Full job description and application available here.

Associate Developer - Pennrose

Job Type: On-Site, Full-time, Entry level

Location: Chicago, IL

This position assumes exposure to and participation in all aspects of multi-faceted real estate development projects – both market-rate and affordable - from inception through construction completion and lease-up. This individual is responsible for timely and accurate support to an in-house team of Developers, Senior Developers and Regional Vice Presidents. This individual will gain exposure to external team of financiers, architects, designers, engineers and contractors. Most follow up will be their responsibility. Each Associate Developer simultaneously participates in multiple projects in varying stages of development. This position demands strong financial skills, meticulous accuracy in all work and effective written and oral communication.

Full description and application available via LinkedIn.

Senior Director of Real Estate Programs

Title: Senior Director of Real Estate Programs 
Reports to: CEO Employee 
Status: Full-time Exempt 
Salary: Starting at $90,000, based on qualifications 

Please email a cover letter and resume to hr@communitydeskchicago.org for consideration.

Position Summary 

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. 

Director of Real Estate - South Suburban Land Bank and Development Authority - Greater Chicago Area (Remote Position)

POSITION: Director of Real Estate, South Suburban Land Bank and Development Authority

JOB CLASS: Manager (Senior)

COMPENSATION: $75,000 - $85,000, commensurate with experience/qualifications

START DATE: February, 13, 2023

LOCATION: Greater Chicago Area (Remote Position)

 
POSITION OVERVIEW: The South Suburban Land Bank and Development Authority (Land Bank) is entering an exciting new phase to scale up operations and capacity in 2023. In partnership with the Southland Development Authority (SDA), the Land Bank expects to maintain a pipeline of consistent residential property redevelopment while supporting nascent large-scale development projects to the benefit of residents and businesses in Chicago's South Suburbs.

Project Associate, IFF, Chicago

 IFF 

Position Description  

Title: Project Associate 

Employee Status: Full Time-Exempt 

Grant Funded: No 

Reports to: Managing Director – Chicago, Real Estate Solutions

Department: Real Estate Solutions 

Location: Chicago, IL 

Department Function: The Real Estate Solutions (RES) Department provides a wide range of  real estate consulting and project management services to Midwestern nonprofits through helping with the planning, designing, development  and construction of facilities. RES collaborates with broader IFF cross function, programmatic efforts to build nonprofit capacity in targeted sectors and mission-related initiatives and in support of the IFF’s broader goal of promoting comprehensive community development. 

The Organization 

IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key  to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on  achieving positive results. Across the Midwest we help clients from every sector, including human  service agencies, health centers, schools, affordable housing developers, and healthy food grocery  operators. Staff contribute extensive business experience and an unrivaled connection to the mission of  IFF to the clients we serve. IFF is looking for candidates with a commitment to the work we do who can demonstrate their  creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful  change in the areas of economic and racial justice. 

Equity, Diversity, and Inclusion 

Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge,  capital, and resources to advance equitable and transformational outcomes in under-resourced  communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution  that honors communities as asset-rich and as experts in their own stories.

Basic Job Function 

The Project Associate participates in consulting and development projects led by other RES staff. The  Project Associate works on many real estate projects simultaneously, participates in departmental  planning meetings for projects, is an active Project Team Member and supports the work of Project  Managers, Owner’s Representatives, and the Director of Special Projects, as necessary. 

Job Duties and Responsibilities:  

1. Assist Project Managers and Owner’s Representatives in coordinating aspects of project  management for projects that are assigned, including scheduling internal and external meetings  as appropriate, following project steps that have been delineated, and supporting tasks to meet project goals and milestones.  

1. Prepare and update real estate project budget and operating pro forma spreadsheets.  b. Assist in construction draw (pay application) process, working with lenders, partners,  contractors, and title company. 

2. Attend site visits under the direction of Project Manager/Owner’s Representative to  document site and building conditions. Coordinate site visits and outside real estate  professionals, such as surveyors, environmental consultants, architects, contractors,  etc., as necessary.  

3. Assist Project Manager/Owner’s Representative to coordinate predevelopment work  associated with projects including due diligence on buildings and land, hiring architects,  contractors, and other professionals, securing construction estimates and any other  work necessitated by the project.  

1. Create spreadsheets to evaluate vendor RFQs and RFPs. 

2. Make follow-up calls to project consultants. 

3. Order surveys and other reports. 

4. Track project expenditures. 

5. Assist in the preparation and review of vendor contracts. 

4. Assist in coordinating the financial closing/property acquisition for projects prior to  construction.  

5. Keep Project Lead apprised of progress through regular updates. 

2. Support the work of Project Managers on consulting projects, including notetaking, making  follow-up phone calls, creating client presentations, assisting with report writing and  preparation, and preparing materials for external meetings.  

3. Maintain required job knowledge and skills and core professional competencies. Attends and  participates in required educational programs and staff meetings.  

4. Perform other duties as assigned.  

Performance Measures:  

1. Successful completion of projects according to goals set forth for each project.

2.  Internal and external meetings are facilitated in an organized way and are meaningful to the  participants. Outcomes of these meetings are analyzed and well presented. 

3. Written and oral presentations are clear, well organized, comprehensive, and persuasive.  Communicates effectively with wide range of diverse audiences across the Midwest.  Appropriate supporting material and visual aids are well utilized and enhance the presentation.

4. Cultivates a culture of openness in information sharing. Encourages open communication,  cooperation, and the sharing of knowledge.  

5. Models personal accountability that promotes ownership and engagement.

6. Builds and maintains effective working relationships with colleagues, peers and team members.

7. High level of satisfaction with both internal colleagues and external contacts.

8. Values and supports differences in others, contributing to an inclusive work  

environment. Demonstrates the ability and willingness to communicate effectively with people  of diverse backgrounds and experiences to create a collaborative, collegial, and caring  community. 

Position Qualifications: 

Education: Bachelor’s Degree required, preferably in urban planning, real estate finance, architecture,  or construction. A demonstrated interest in real estate development and project management is an  acceptable equivalent to specific degrees above. 

Special Knowledge & Skills:  

1. General knowledge of real estate development projects and process.  

2. Basic knowledge of affordable housing programs, community development, charter schools, or  early childhood education preferred.  

3. Analytical and strategic skills; ability to plan, manage and implement multiple and complex  projects; and ability to understand and conceptualize project goals.  

4. General understanding and interest in finance and lending practices and protocols.  5. Excellent communication (written and oral) and interpersonal skills.  

6. One to two years of experience working in a real estate, design, or construction environment  preferred. 

Additional Requirements: Local and regional travel may be required. The Project Associate will visit  construction sites, at times to include abandoned buildings and vacant lots. Occasional evening and  weekend work may be required. 

IFF does not offer relocation packages; must be authorized to work in the United States; IFF does not  offer sponsorship.  

Application Instructions: Please visit our Careers section of our website to apply online. Both a resume  and cover letter are required. 

IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the  communities they serve. IFF is an equal opportunity employer and is committed to building and  maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities and veterans to apply. All qualified applicants  will receive consideration for employment without regard to race, religion, color, national origin, sex,  sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or  regulations in the locations where we operate.

 

Sr. Real Estate Advisor, The Chicago Community Trust

 Position Summary

Community Desk Chicago ("the Desk") leverages private market expertise and trusted investor relationships to unlock capital for transformative real estate development. Currently based at the Chicago Community Trust ("the Trust"), the Desk was launched in 2019 as the result of a six-month study led by the Boston Consulting Group (BCG). The JP Morgan Chase Foundation (JPMCF) commissioned the study to better understand how to drive more impactful investments in communities of color.

The Desk works with catalytic real estate projects in historically underserved Black and Latinx communities to help close funding gaps based on four key beliefs including 1) strong talent and commercial development opportunities exist in communities, but face challenges accessing the necessary capital and resources, 2) communities deserve holistic development, including commercial projects that create wealth building opportunities and improve quality of life, 3) projects in communities of color should have equitable access to capital without fear of racial bias and 4) our role is to collaborate, not duplicate - partnering with the existing ecosystem to add capacity and fill gaps.

In addition to providing direct project support to community developers, nonprofits and entrepreneurs, the Desk works closing with philanthropy including the Trust and other critical stakeholders in the community development ecosystem to design and launch initiatives that increase capital flow, wealth building and real development capacity in communities. More information about the Desk can be found at www.communitydeskchicago.org.

Under the direction of the Desk’s Director, the Senior Real Estate Advisor will actively manage the capital connection for community-based real estate development projects. Specifically, the advisor will assess project financial feasibility, recommend funding strategies and manage the direct connection to project funders including philanthropy, lenders and investors.

Position Responsibilities

• Meet with community-focused nonprofits, developers and entrepreneurs to understand their development capital needs and outline potential funding strategies.
• Leveraging relevant industry and project-based data, pressure test project assumptions related to revenue, expenses, net operating income and development costs.
• Evaluate project feasibility based on key financial metrics including but not limited to debt coverage ratios, debt to equity ratios, cap rates and other relevant markers.
• Model potential capital stacks and develop recommendations for target investor types and mix, based on expected social impact and financial returns of project
• As necessary, support projects with the creation of operating pro formas, development budgets and related feasibility documentation.
• Monitor a portfolio of projects through their development lifecycle to assist with capital resources.
• Recommend new tools and resources to standardize the review of projects.
• Research investment models and trends to recommend creative funding strategies for projects.
• Support the development of an investor pool to shop investment opportunities and to help attract new capital for projects.
• Coordinate with capital market experts to assist with deal structuring and terms.
• Recommend pitch materials for projects to highlight feasibility, community impact and funding requirements.
• Assist projects with completing grant applications, loan applications and other related funding documentation to secure capital.
• Leverage the resources and network of the Trust, JPMCF, BCG and other partners to support holistic neighborhood development.
• Codify lessons learned for knowledge sharing in the community development ecosystem.
• Other responsibilities as identified to support the launch of new programs and initiatives.

Experience and Skills:

• 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.
• 7-10 years of related work experience.
• Demonstrated understanding and commitment to The Desk’s mission.
• Understanding of real estate development, community development, innovative financing and complex deal flows.
• 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 The Trust, JPMCF, BCG, 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 with business strategy to inform investment case and pitch material preparation.
• 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.
• Strong interpersonal skills, written communication, and comfort with cross-cultural communication.
• Ability and desire to work in culturally diverse environments.
• Direct experience underwriting, evaluating or coordinating capital requests including experience with LIHTCs, NMTCS, OZ funding, TIF and other development incentives.

Market Coordinator, Illinois Housing Development Authority

Who: Illinois Housing Development Authority

What: The position will participate as a key member of the Strategic Planning and Reporting team that informs the Authority’s various production areas with thorough and nuanced market analysis. Activities include identifying, analyzing, and testing viable market indicators; preparing and/or reviewing site and market studies; producing statistical analyses of the various production programs; and identifying enhanced methodologies for measuring and reporting on the Authority’s activities. Must have excellent written and oral communication skills, as well as good analytical capabilities. Valid driver’s license and travel are required.

Responsibilities:

• Independently perform market analysis for the Authority, including rent studies, site and market studies, rent comparability tests, Preliminary Project Assessments (PPA’s) and LIHTC market reviews.
• Provide extensive market analysis on a variety of housing markets throughout the state, examining the impact on these markets of existing and potential Authority-funded developments.
• Conduct in-depth research and in-the-field information gathering to identify market conditions that impact the affordability of housing programs in a variety of geographic areas. Expand the Authority’s methodologies / mechanisms for measuring market viability.
• Formulate marketing plans and strategies for developments experiencing occupancy problems. Interacts directly with developers, local planning staff, other agencies, and other interested parties to discuss and review market potential.
• Actively advises the market review aspects of the Qualified Allocation Plan and the PPA procedures with the goal of improving the effectiveness and transparency of the Site and Market Review portion of the LIHTC process.
• Utilizes available data available from Authority resources (SPAR database, AMS databases, Multifamily Finance, and Single Family / Homeownership) to produce statistical reports and analyses, both routine and ad hoc, for use by Strategic Planning and Research, the Executive Office and other IHDA departments. 
• Collects and updates data within the SPAR database. This includes, but is not limited to, helping identify short-sighted areas and blind-spots, expanding variables tracked within the database, and performing audits of current tracking methodologies.

Qualifications:

Requires college degree with four years of experience in a similar field; an advanced degree in planning or real estate appraisal/marketing is strongly preferred and may be substituted for two years’ experience. Must have good communication skills and be able to adapt readily to various types of assignments. Will be required to utilize a variety of database software (Access, SQL Server) and additional programs (IMPLAN, PolicyMap, ArcGIS), ability to learn and utilize these programs is a must, as is proficiency in Microsoft Excel, Word, PowerPoint, etc.

Details to apply here: https://df7qosnywqs6g.cloudfront.net/wp-content/uploads/2021/05/SPAR-Market-Coordinator-May-2021.pdf 

Project Analyst, Johnson Consulting

Who: Johnson Consulting is a nationally recognized real estate consulting firm specializing in market and financial feasibility studies, economic impact studies, operational audits, and strategic planning for public assembly facilities, including sports facilities, convention centers, hotels, performing arts centers, and fairgrounds. We also provide expertise on complex traditional real estate districts, public-private partnerships, downtown master plans, tourism destination strategies, TIF projects, and the utilization of alternative funding strategies to execute development projects. Our clients consist of government entities, authorities, colleges and universities, private developers, professional and amateur sports organizations, arts and cultural organizations, and economic development agencies. 

What: The Project Analyst is responsible for conducting data collection and analysis, financial modeling, demand forecasting, market assessments, and other research activities that will support the team's work. The Project Analyst will take a leadership role in the documentation of the team’s observations, analysis, and conclusions and the creation of client deliverables. The Project Analyst will work closely with other members of the project team and will play an active role in schedule management and client relationships.

Responsibilities:

• Performs data collection and analysis including economic and demographic research, real estate market analysis, leading and documenting in-person and virtual interviews and focus groups, survey design and analysis, site analysis, space planning, and other research within the company’s established methodologies
• Creates reports, presentations, and other deliverables that concisely summarize observations, analyze data, draw conclusions, and make strategic recommendations in order to meet client expectations
• Coordinates project activities including corresponding with clients, scheduling or participating in meetings, and tracking project action items
• Meets regularly with and provides support for the project executive and project manager
• Attends virtual and in-person project meetings, including occasional overnight travel to locations throughout the United States
• Performs quality control activities that ensure error-free reporting to clients
• Participates in business development activities to include article writing, conference attendance, and prospective client tracking or follow-up
• Performs additional duties as assigned with the effort and skills required to contribute to our continued growth

Qualifications: 

• Bachelor’s degree and 2 years minimum work experience in finance, economics, hospitality, real estate, urban planning, sports management or equivalent
• High level of interest in public assembly facility and hospitality development

• Microsoft Office products, including Excel, Powerpoint, and Word
• Esri and/or other GIS and mapping programs
• CoStar and/or other real estate market data systems
• Data analysis and visualization, graphic design, and graphical communication
• Analytical and critical thinking abilities
• Verbal and written communication skills
• Group facilitation and presentation skills
• Understanding of real estate, finance, and accounting principles
• Articulated support for the firm's mission, values, and operating paradigm
• Demonstrated commitment to client satisfaction
• Strong commitment to ethical business practices
• Proven adaptability, flexibility, and creativity
• Demonstrated ability to thrive within a team structure
• Ability to work independently to prioritize and respond to day-to-day issues as required
• Self-starter, well organized, efficient

Apply here.

Real Estate Development Administrative Coordinator, Preservation of Affordable Housing

Who: Preservation of Affordable Housing (POAH) is a national nonprofit organization whose mission is to preserve, create and sustain affordable, healthy homes that support economic security, racial equity and access to opportunity for all. POAH owns and operates more than 12,000 affordable homes at more than 120 properties in 11 states and the District of Columbia. POAH is based in Boston with offices in Chicago and Washington D.C.

What: POAH is seeking a Chicago-based team member to join its Real Estate Development group in a primarily administrative support role to the team. This newly created role would support Project Managers in their day-to-day work, but importantly on the implementation and closings of their various real estate development projects. The team member may also be called upon to assist POAH staff in other offices depending on workflow.

Responsibilities:

• Gathering & tracking the appropriate materials for financing applications and request for proposal (RFP) responses. Organizing the submission process for said applications and RFPs.
• Assembling the due diligence required for construction and permanent loan conversions and
• managing the associated closing checklists. This would include submission of organizational
• documents, board resolutions and votes, good standing certificates, insurance certificates, and
• wiring instructions.
• Maintaining the company database with respect to ongoing, internal reporting requirements.
• Soliciting and tracking responses for 3rd party vendors and contract creation.
• Tracking MBE/WBE performance
• Prepare presentation materials for meetings.
• Scheduling team meetings.
• Tracking project expenses and reimbursements.
• Assisting the Office Director with general office management tasks as assigned 

Qualifications:

0. Experience & Knowledge

   Candidates for this position should possess at least a High School Degree and 5-7 years of experience in an administrative or paralegal role. Real estate development experience is preferred but not required. Job on-boarding and training will be provided.

   Skills

1. Candidates should have demonstrated ability to:

• Be a part of a team with diverse interests and backgrounds;

• Communicate effectively in person and in writing with colleagues and external partners

• representing a wide range of disciplines and backgrounds (e.g. financial, legal, regulatory,
• design/construction, and property residents);
• Manage and effectively prioritize simultaneous and competing activities and demands;
• Effectively track data in Excel or other online platform;
• Utilize Microsoft Office Suite
• Remain organized, be detail-oriented and meet deadlines, and
• Take initiative and exemplify motivation to work towards POAH’s prescribed mission. 

Apply here.

Real Estate Market Analyst/Planner, Kretchmer Associates

Who: Kretchmer Associates is a 35-year-old real estate and planning consulting firm based in downtown Evanston (accessible by Metra, CTA Purple Line, and CTA and Pace buses). Clients include real estate developers, lenders, local, regional, and state government agencies, non-profit organizations, public housing authorities, and transit agencies.

What: The Real Estate Market Analyst/Planner evaluates and communicates the real estate market context of residential, retail, office and industrial development proposals and urban planning initiatives. Reports are submitted to developers, municipalities, lenders, and various funding agencies. The Real Estate Market Analyst/Planner works closely with other Kretchmer Associates staff and reports to the President.

Responsibilities:

•   Data collection and analysis, primary and secondary research

•   Independent fieldwork (involving in-person visits with building leasing and management once safe)

•   Assistance with report writing and production, proposals, and presentations

•   Communicating with clients

Qualifications:

•   Master’s degree in related field and two years of relevant experience or Bachelor’s degree with four years of relevant experience

•   Ability to work independently and on a team

•   Research and gather data efficiently

•   Communicate clearly, verbally and in writing

•   Attention to detail, ability to work on multiple projects simultaneously and to meet deadlines

•   Proficiency with Microsoft Excel, Word, and PowerPoint, and U.S. Census data (knowledge of PUMS a +)

•   Local and occasional out-of-town travel required, usually within upper Midwest. Candidates must have

  a driver’s license but do not need their own car.

•   Affordable housing knowledge a +

•   Knowledge of ArcGIS Online and Business Analyst, ArcGIS desktop products, QGIS, and/or

  complementary software a +

•   Knowledge of Adobe Illustrator or Inkscape a +

•   Ability to fashion attractive charts, graphs, and basic maps a +

•   Spanish speaker is a + but not a requirement 

To apply please submit a cover letter and resume to Valerie Kretchmer, President, via email only at vsk@kretchmerassociates.com. Applications will be accepted until a hire is made, but we strongly encourage interested candidates to submit their applications by April 26th. Virtual interviews will be set up on a rolling basis.

People of color, women, people with disabilities, immigrants, LGBTQIA people, and people who come from poor or working-class backgrounds are strongly encouraged to apply. Kretchmer Associates is an equal opportunity employer.