Director, Division of New Construction Finance (NCF)

New-York-City-Department-of-Housing-Preservation-; New York (NY); On-site; USD 140,000 - 190,000; Full time

Job summary

The Department of Housing Preservation and Development (HPD) is seeking an experienced Director to oversee New Construction Finance programs (NCP, ELLA, M2, MIMI and Mixed Income) for multifamily rental projects across NYC. You will supervise division staff, coordinate with sponsors, consultants and government agencies, and help expand the project pipeline to meet ambitious production goals.

Responsibilities include guiding underwriting, coordinating closings, managing loan structures, and

Qualifications

• Bachelor's degree and three years of professional experience in development, financing, negotiation, or related real estate work.
• Graduate study may supplement experience.
• Experience with government programs or affordable housing development is preferred.

Responsibilities

• Supervise staff and manage a portfolio of multifamily housing projects from predevelopment through completion and conversion.
• Coordinate with sponsors, consultants, and government agencies for project closings and approvals.
• Review underwriting, budgeting, and project feasibility to support production goals.
• Assist in preparing applications for capital and operating funds and ensure compliance with programs.

Skills

Leadership

Team management

Real estate finance

Project management

Negotiation

Communication

Microsoft Office

Education

Bachelor's degree in related field

Graduate degree preferred

Tools

Microsoft Office

Job description

The Department of Housing Preservation and Development (HPD) oversees housing standards across all 3.7 million homes in New York City. As the nation’s largest municipal housing agency, HPD is responsible for building and preserving affordable housing, protecting tenants from harassment and displacement, and holding landlords accountable across the five boroughs. Under Commissioner Dina Levy and the Mamdani Administration, HPD is pursuing an ambitious housing agenda focused on the needs of New York’s tenants. With a broad set of tools including standards enforcement, tenant resources, and the creation of new affordable housing, HPD is committed to making New York City a more affordable place for renters and homeowners alike.

Your Team:

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives. HPD’s Division of New Construction Finance (NCF) is part of the Office of Development which create affordable housing in New York City. NCF, in collaboration with other government partners, will create approximately 3,000 units of new housing each year for extremely low to middle income households

Your Impact:

HPD’s Division of New Construction Finance (NCF) seeks to hire an experienced professional with strong leadership and management abilities to be the Director for its programs, which includes NCP, ELLA, M2, MIMI, and Mixed Income (Mix-and-Match) Programs . Under the supervision of the Assitant Commissioner, the Director will oversee the programs that provide loans to facilitate the new construction of multifamily rental projects (both City owned and privately-owned properties) serving extreme low, low income to middle income households throughout the five boroughs of New York City. The complicated projects are financed with tax exempt bonds, Low Income Housing Tax Credits, City subsidized loans, conventional bank loans, and other tools such as the disposition of City owned land. Projects are often mixed-use with commercial and community facility components. The Director will help to identify, evaluate, scope out, and close on an expanded pipeline that will help the Division reach the ambitious production goals.

Your Role:

In your role as a Director, you will supervise and work closely with Division staff to manage a portfolio of projects from predevelopment through construction, completion and conversion. Managing an extensive portfolio of complex and multi-faceted projects, the Director will act as a development content expert for affordable multifamily rental projects across the Division and will serve as main contact for project sponsors, consultants, government agencies and internal agency departments for projects financed through the ELLA, NCP, M2, MIMI and Mixed Income (Mix-and-Match) Programs.

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Your Responsibilities

• Supervising staff in their performance of general project management duties, including facilitating all necessary approvals related to project closings, troubleshooting projects in construction and facilitating project completion.
• Collaborating with program staff, and supervising the review and analysis of project underwriting and planning.
• Making recommendations to the Assistant Commissioner about project feasibility and key policy issues.
• Establishing production goals and working with staff across the agency to meet established goals.
• Supervising and mentoring staff on professional development goals, growth and strategies.
• Supporting negotiations relating to deal structure, funding commitments and other project requirements on behalf of HPD.
• Assisting in the preparation of applications for additional capital and operating funds.
• Supporting work with architects, sponsors and HPD design review staff to ensure high-quality, sustainable cost-efficient design.
• Reviewing and coordinating submissions of required CEQR, NEPA and other environmental review reports.
• Coordinating submissions of ULURP applications for UDAAP and disposition of City-owned property.
• Working with HPD s legal department to collect and prepare loan closing documentation.
• Coordinating construction loan and syndication closings.
• Confirming accurate tracking and reporting of key project issues, including timing of project loan closings, construction status, project completion and budget close outs.

In addition to the tasks described above, you may also be tasked with tracking and managing workflow across the Division, participating in the development of RFPs and policy related projects, and assisting the Assistant Commissioner and others with time-sensitive research and report production and additional administrative activities as required. The ideal candidate will have experience in a collaborative environment, possess strong organization and communication skills, be detail-oriented, and be proficient in Microsoft Office Suite.

Preferred Skills

• Excellent verbal and written communication and strong interpersonal skills, strong analytical, organizational, and quantitative skills.
• Ability to read and understand loan documents, experience with budgeting and project scheduling.
• Demonstrated capacity for performing multiple tasks, analyzing complex processes, using independent judgment, and conducting difficult negotiations while maintaining a sense of humor.
• Background in or knowledge of real estate finance and/or program implementation experience, preferred.
• Preference will be given to candidates with experience working for or with government agencies and government programs related to affordable housing development and experience with the construction process.
• Candidates with Masters in Urban Planning, Real Estate Finance, Real Estate Development, Business Administration, Public Administration or related fields are strongly preferred.

CANDIDATES MUST BE PERMANENT IN THE ASSOCIATE HOUSING DEVELOPMENT SPECIALIST OR COMPARABLE TITLE TO BE CONSIDERED

ASSOCIATE HOUSING DEVELOPMENT - 22508

Minimum Qualifications

1. 1.A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or
2. 2. A four year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in "1" above; or
3. 3.A satisfactory combination of education and/or experience which is equivalent to "1" or "2" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have at least two years of experience as described above.

55a Program

This position is also open to qualified persons with a disability who are eligible for the 55-a Program. Please indicate at the top of your resume and cover letter that you would like to be considered for the position through the 55-a Program.

Public Service Loan Forgiveness

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/.

Residency Requirement

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.

Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.