Are you passionate about working to create and preserve affordable housing opportunities? Join our team as a Real Estate Development Project Manager!
About the Organization:
The Allston Brighton Community Development Corporation (ABCDC) has served the Allston Brighton Neighborhoods of Boston since 1980. Since its inception, ABCDC has led initiatives that create affordable homes, foster community leadership, enhance and protect open spaces, and offer steps to increased income and assets, so that residents can call Allston Brighton home for the long-term.
ABCDC builds a stronger 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. Today, Allston Brighton Community Development Corporation addresses critical changes in our community, focusing our role as a catalyst for stability and positions us to create healthy communities and new opportunities for people of all incomes to engage as civic leaders and improve their lives. We are dedicated to supporting neighborhood growth that retains a diverse socio-economic population, becoming more stable with stakeholders who actively participate in ensuring its well-being. We are expanding resident participation in civic engagement around safe, healthy communities. In collaboration with our community, we engage with institutional and government partners to address community-identified and community-driven needs and goals.
About the CDC’s Real Estate Portfolio and Current Activities
The CDC oversees a portfolio of 520 affordable housing units in ten sites throughout Allston Brighton. These units range from Single Room Occupancy units (SROs) to three-bedroom family-sized units. Currently, there is a considerable amount of activity within the real estate department. In addition to the typical duties related to asset management, there are many development activities including rehab projects, green upgrades, new construction, and the continuous search for new real estate opportunities. The CDC currently has two rehab projects in construction and another three rehabs scheduled to begin in 2024, plus two pending acquisitions. Three of the rehab projects are Deep Energy Retrofits, whereby energy usage will be reduced by 50% or more.
About the Position
The Real Estate Development Project Manager will work closely with the Director of Real Estate Development (Director), along with selected consultants, to stabilize the existing portfolio and foster new ventures, together with key stakeholders, institutional partners, and private/non-profit developers. In recognition of the dual crises of Boston’s housing shortage and global climate change, the Real Estate Development Project Manager will be expected to approach all opportunities with those two issues in mind. This position requires a results-oriented professional who is passionate about affordable housing and sustainable development.
Responsibilities will include:
• Support the Director in managing the wide-ranging activities associated with the
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active development projects, including, but not limited to, the following:
– Managing budgets;
– Coordinating with sustainability consultants on green, energy-efficient upgrades, e.g. PV solar, electric heat pumps, retrofit strategies, Passive House certification, etc.;
– Ensuring compliance with lenders’ reporting requirements;
– Monitoring project schedules; and
– Handling the requisition process during construction.
• Manage the preparation and submission of applications for financing and grants, equity, and loan programs;
• Identify new real estate opportunities and conduct early-stage feasibility analyses;
• Lead research efforts on affordable housing funding, partnership opportunities, and new initiatives, with an emphasis on climate-focused approaches, e.g. sustainable energy upgrades, green retrofits, net zero building, etc.;
• Create and manage a data tracking system of other development projects within the neighborhood;
• Assist with monitoring the third-party asset management activities associated with the current portfolio;
• Work with selected design teams to ensure compliance of new project activity with all applicable zoning and regulatory requirements;
• Assess new acquisition opportunities for the AllBright Homes Program;
• In conjunction with the Director, manage transactions for the AllBright Homes Programs, including inspections, appraisals, insurance coverage, loans, and closings;
• Compile, package, and prepare project data and information as requested by other staff, the Board of Directors, Board Committees, public funders, and/or private lenders;
• As appropriate, attend meetings, conferences, and trainings related to affordable housing, sustainable community development, real estate financing, etc.; and
• Complete other duties as assigned, based on the needs of the organization and interests of the employee.
Our Ideal Candidate
Allston Brighton CDC is seeking an affordable housing professional with at least two years of relevant experience, who is creative, mission driven, and can positively engage in a diverse community. The ideal candidate will be familiar with the real estate development process, be able to conduct financial analysis, and have a working knowledge of a wide host of affordable housing financing institutions and tools. The candidate will bring enthusiasm and dedication to their work and possess many of the following skills and qualifications:
• At least two (2) years of direct experience in real estate development and affordable housing;
• Master’s degree in real estate development, city planning, or related field preferred, but can be replaced with relevant experience, as appropriate;
• Demonstrated ability to create financial models and conduct feasibility analysis;
• Familiarity with the financing tools and regulatory requirements for affordable housing, including rental assistance, Low Income Housing Tax Credits, and other State and Federal funding programs;
• Familiarity with property management and asset management functions and systems;
• Experience in working with consultants, design teams, and other real estate professionals;
• Strong organizational, analytical, and problem-solving skills;
• Strong communication skills including writing and presentation ability;
• Ability to work in a team and within a fast-paced environment;
• Flexibility to adapt, respond, and meet the needs of specific projects and the needs of the Allston Brighton CDC; and
• Conversational knowledge of Spanish, Chinese, or Russian is a plus.
Salary
The salary range for this position is $65,000 – $85,000 depending on qualifications and experience.
To Apply
Please submit a résumé and a cover letter documenting experience and interest in this position to: Caitlin Robillard, Director of Real Estate Development, Allston Brighton CDC at [email protected]. Application will be accepted until the position is filled.
Applications will be reviewed and acknowledged as they are received. Allston Brighton CDC seeks to fill this position as soon as possible.
Allston Brighton CDC offers a competitive salary, commensurate with experience and qualifications, plus generous benefits.
Allston Brighton CDC is an equal opportunity employer. People of color and Allston Brighton residents are strongly encouraged to apply for this position.