DIRECTOR OF REAL ESTATE SOUGHT
Allston Brighton Community Development Corporation (Allston Brighton CDC) seeks a Director of Real Estate to join our young and creative team.
The Organization and Its Programs
Allston Brighton CDC has been a catalyst for community stability and cohesion for 35 years. We build a strong and more stable community by representing and supporting the expressed interests, positive engagement, and leadership of Allston Brighton’s diverse local communities, institutions, individuals, and families of all incomes. Allston Brighton CDC seeks to empower individuals and groups of people by providing them with the skills they need to affect change in their own communities, and connecting them to broader neighborhood stabilization efforts and campaigns.
We create affordable homes. We foster community leadership and enhance and protect open spaces. We offer steps to increased incomes and assets, so that residents can call Allston Brighton home for the long-term. The CDC oversees a portfolio of 500 affordable housing units in nine sites throughout Allston Brighton.
Today, Allston Brighton CDC continues to focus on expanding stable housing in a neighborhood of high rents and limited affordable homeownership. We address critical changes in our community. We focus and define our role as a catalyst for community stability, and position ourselves to create opportunities for families and individuals of all income levels.
Real Estate Development at Allston Brighton CDC
The Allston Brighton CDC has a robust real estate project pipeline that includes the expansion of our SRO Supportive Housing program, two joint ventures, and a 9% Low Income Housing Tax Credit project. We are also committed to the preservation of our existing portfolio, and completing the first of a multi-year neighborhood stabilization initiative to increase homeownership in Lower Allston and North Brighton.
Director of Real Estate
The Director of Real Estate will work closely with the Executive Director and other Allston Brighton CDC staff to stabilize the existing portfolio and foster new ventures, together with key stakeholders, institutional partners, and private/nonprofit developers. Responsibilities will include:
- Seeking new real estate opportunities and conducting early stage feasibility analysis
- Assembling financing and submitting applications for grants, equity, and loan programs
- Managing permitting, planning, and the community process
- Soliciting, negotiating, and overseeing third party consultant services and project teams
- Managing the closings for purchase, loan, and equity investments
- Overseeing project budgets, the construction process, and project schedule, and
- Ensuring compliance with funding requirements and city, state, and federal regulations
The Director of Real Estate will oversee the asset management of Allston Brighton CDC’s existing portfolio. They will supervise and mentor the organization’s Project Manager, and will be responsible for other duties as requested.
Allston Brighton CDC’s Real Estate Director will have the support of well-known, accomplished real estate consultants, and the assistance of an experienced third-party asset management company.
Our Ideal Candidate
Allston Brighton CDC is seeking an experienced affordable housing developer, who is creative, mission driven, and can positively engage in a diverse community. Our ideal candidate will be well versed in the real estate development process, able to conduct feasibility analysis, and knowledgeable of complex affordable housing financing tools and requirements. They will be excited to work in a small, vibrant, nonprofit organization, and to have the opportunity to build a team and foster an environment where co-workers can learn from each other across disciplines. This passionate community developer will also possess many of the following skills and experiences:
- Strong communicator who can express themselves well and build positive working relationships with other staff members, partners, consultants, funders, residents, and community members
- Goal-oriented thinker who has the ability to set clear priorities among tasks and stay focused on multiple projects benchmarks and deadlines
- Creative problem solver who possesses an entrepreneurial spirit and a willingness to act creatively to solve problems
Technical Skills and Qualifications
- B.A. in real estate development, city planning, business, or related field; master’s degree preferred
- Minimum of 5 years of affordable housing real estate development experience
- Demonstrated understanding of feasibility analysis and the complex financing tools and regulatory requirements for large-scale affordable housing development, including rental assistance and Low Income Housing Tax Credits programs
- Experience completing funding applications such as the Massachusetts One Stop
- Proven knowledge of due diligence, design development, community process, permitting, and construction
- Demonstrated ability to deliver high quality affordable housing on time, within budget, and with positive community impact
- Familiarity with property management and/or asset management
- Experience with Boston zoning and Article 80 process preferred
- Knowledge of New Market Tax Credits helpful
- Strong organization skills and the ability to present clearly in both oral and written formats
- Conversational knowledge of Spanish, Chinese, or Russian is a plus
The Selection Process
Please submit a cover letter, detailing your qualifications for this position and your salary requirements, along with a resume to: ABCDCRealEstateDirector@gmail.com. No phone calls or letters please.
Applications will be reviewed and acknowledged as they are received. Allston Brighton CDC seeks to fill this position by spring 2017, if not sooner.
Allston Brighton CDC is an equal opportunity employer. Allston Brighton residents, people of color and women are encouraged to apply.