Director of Affordable Development

Better Housing Coalition; Richmond (VA); On-site; USD 140,000 - 190,000; Full time

Job summary

Better Housing Coalition in Richmond, VA seeks a Director of Affordable Rental Development to lead end-to-end planning, entitlement, design, financing approval, and execution of LIHTC projects. You will supervise the development team and coordinate with leasing, asset management, and property operations to ensure timely handoffs.

The role requires 4–6 years in multifamily development, strong financial modeling, and experience with predevelopment and construction budgets.

Qualifications

• Bachelor's degree; preferred fields include Business Administration, Urban Planning, or Real Estate Development.
• 4–6 years of multifamily development experience.
• Experience with financial modeling and pro formas.
• Project management experience with cross-functional teams.
• Experience in affordable housing development and tax credit processes is preferred.

Responsibilities

• Serve as project manager for affordable rental development projects and coordinate with architects and consultants.
• Vet architecture plans with operations for practicality and cost efficiency.
• Develop and maintain development budgets and pro formas.
• Prepare financing applications and tax credits; lead closings and bids.
• Collaborate with leadership to pursue new development opportunities.

Skills

Interpersonal skills

Verbal and written communication

Analytical skills

Time management

Financial modeling

Budget development

Education

Bachelor's degree in Business Administration

Bachelor's degree in Urban Planning

Bachelor's degree in Real Estate Development

Tools

MS Office

Job description

Who We Are

We are a mission-driven team that values strong connections with our community and each other. We collaborate openly, share ideas generously, and work together to achieve meaningful results for our communities and residents. We encourage initiative, empowering team members to take ownership and find creative solutions. Above all, we are dependable and committed to delivering on our promises with integrity and consistency. Together, we aspire to create an environment where every staff person, resident and community member feels supported, valued, and motivated to make a positive impact.

Who We Are

We are a mission-driven team that values strong connections with our community and each other. We collaborate openly, share ideas generously, and work together to achieve meaningful results for our communities and residents. We encourage initiative, empowering team members to take ownership and find creative solutions. Above all, we are dependable and committed to delivering on our promises with integrity and consistency. Together, we aspire to create an environment where every staff person, resident and community member feels supported, valued, and motivated to make a positive impact.

Position Summary

The Director of Affordable Rental Development is responsible for leading end-to-end planning, entitlement, design, financing approval, and execution of affordable multifamily development projects, which will mostly be Low Income Housing Tax Credit developments. This position is expected to work independently and effectively to manage the development team and the financing process.

Primary Duties

• Serve as project manager for real estate development projects. Oversee architects, engineers, and other consultants to ensure design integration and meet project milestones.
• Work with BHC Property Operations staff to vet architecture plans for practicality, operational efficiency, and lower long-term maintenance costs. Manage and maintain development schedules to ensure timely completion of development milestones
• Work closely with leasing, asset management, and property management teams to ensure seamless project handoff.
• Develop and maintain predevelopment and construction project budgets.
• Prepare applications for permanent & construction financing, and tax credits.
• Prepare development and operating pro formas for potential acquisitions, rehabilitation, and new construction of affordable rental developments.
• Solicit bids from General Contractors.
• Collaborate with the Development Team and BHC leadership in the evaluation and pursuit of new development opportunities.
• Review legal documents for real estate/partnership closings and ensure closings occur on schedule.
• Lead conference calls and closing activities during project acquisition, and financing closings.
• All other duties as assigned by management.

Minimum Educational & Experience Requirements

• 4-6 years of multifamily development experience
• Previous experience in housing, finance, or real estate development
• Previous experience in financial modeling
• Project management experience
• Bachelor's degree; degree in Business Administration, Urban Planning, or Real Estate Development preferred
• 3 years of affordable rental housing development experience preferred
• Previous experience developing cost and operating pro formas for real estate projects
• Previous grant writing experience preferred

Minimum Skill Requirements

• Strong interpersonal and collaboration skills
• Effective and professional verbal and written communications
• Proven research and analytical skills
• High level of time management and ability to drill down to minutiae
• Proficiency with MS Office products
• Strong financial modeling and budget development skills

Physical Demands

• This position requires the ability to perform the essential job functions with or without reasonable accommodation. While performing the duties of this job, the employee is regularly required to:
• Sit, stand, and walk for extended periods while visiting properties and meeting with project teams.
• Use hands and fingers to operate a computer, phone, and office equipment.
• Speak clearly and hear well enough to communicate effectively in person and by phone.
• Bend, stoop, reach, and occasionally lift or move objects up to 20 pounds.
• Navigate stairs, hallways, and outdoor pathways to access various property and construction sites.
• Occasionally work outdoors in varying weather conditions while conducting site visits or inspections.

Better Housing Coalition is an equal opportunity employer.