Project Manager

Westhab; City of Yonkers (NY); On-site; USD 100,000 - 125,000; Full time

Benefits offered by this job

$1,000 Sign-on Bonus

Medical, Dental and Vision after 30‑d

Paid Vacation, Sick and Personal Time

Tuition Reimbursement

Life Insurance

Pension Plan and 403b Plan

Employee Loan Program

Free Parking

Staff Development

Job summary

Westhab is seeking a Project Manager/Senior Underwriter in Yonkers, NY to lead underwriting, financial modeling, and collaborative development efforts for affordable housing across Westchester and the Hudson Valley.

Responsibilities include securing capital, performing due diligence, and coordinating with lenders, attorneys, and engineers to advance projects from pre-development through construction.

Qualifications

• Bachelor degree required with extensive experience (3–5 years+) in the affordable real estate finance field.
• Expert level real estate proforma and modeling experience with strong written and verbal communication skills.

Responsibilities

• Perform financial underwriting analysis and create proformas for funding strategies.
• Construct financial models of proposed projects including costs, revenues and expenses.
• Source and underwrite capital from public and private sources for affordable and supportive housing development.
• Conduct due diligence for property acquisitions, including appraisals, market analysis and title review.
• Assess legal and structural framework of transactions and negotiation terms with lenders and agencies.
• Analyze market demographics for site evaluation and potential development opportunities.
• Assist with analytical projects regarding portfolio and property performance.
• Collaborate with lenders, attorneys, architects and engineers on development activities.

Skills

Financial underwriting

Pro formas

Real estate finance

Project management

Lender negotiation

Stakeholder relations

Education

Bachelor's degree in real estate/finance

Tools

Excel

Financial modeling

Job description

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Project Manager

Management Yonkers, NY, US

3 days ago Requisition ID: 1882

Salary: $132,500.00 Annually

JOB DESCRIPTION

FLSA: Exempt

LOCATION: Yonkers, New York

REPORTS TO: Director of Real Estate Development

SALARY RANGE: $100,000 - $125,000 per year

BENEFITS AND PERKS

• $1,000 Sign-on and Retention Bonus
• Medical, Dental and Vision after 30-days with up to 85% paid by Employer
• Paid Vacation, Sick and Personal Time
• Tuition Reimbursement and Life Insurance
• Pension Plan and Voluntary 403b Plan
• Employee Loan Program
• Free Parking
• Staff Development and Promotional Opportunities

Summary: The Senior Underwriter / Project Manager functions within a small team of real estate development professionals for an active not for profit organization that develops, manages and provides supportive services for affordable and supportive housing in the Bronx, Westchester and the mid-Hudson Valley, New York. Extensive experience with affordable and/or supportive housing development including usage of low-income housing tax credits (LIHTC), tax exempt bonds, state/federal capital programs, and mixed-financed deals is essential, with an understanding of market rate multifamily finance.

Primary responsibilities include but are not limited to:

• Complete financial underwriting analysis and prepare proformas for all prospective projects to determine funding strategy, and highest and best use.
• Source and underwrite information necessary to construct financial models of proposed projects including development costs, operating revenue, and expense information;
• Obtain capital from a variety of public and private sources including municipal, state, federal, and tax credit opportunities, often through competitive RFP processes, for the development of affordable and supportive housing, including new construction and rehab.
• Perform due diligence research for the purchase and sale of properties, including conducting a critical review and analysis of the appraisal, market analysis, property description, real estate tax analysis, comparable properties, local regulations, and title commitments.
• Assessing the legal and structural framework of transactions.
• Analyze and negotiate pricing, terms and conditions with lenders, syndicators, consultants and agencies;
• Analyze demographic research and trends and political tendencies for the purpose of evaluating new potential development sites.
• Assist with various analytical projects regarding portfolio and property performance

Project Management – As part of the real estate development team, the Senior Underwriter / Project Manager will participate in all aspects of project management, including, but not limited to, the following:

• Work collaboratively with a team of consultants including lenders, attorneys, architects, engineers, contractors, and others. Select and manage design consultants and relevant teams.
• Coordinate pre-development and development activities such as preparation of transaction documents and financial applications, development of project sources and uses, construction documents, an overall management of project budget.
• Prepare monthly requisition packages for submittal to lending partners and agencies, including management and disbursement of funds across a variety of funding sources.

QUALIFICATIONS:

Bachelor degree required with extensive experience (3-5 years+ preferred) in the affordable real estate finance field. Expert level real estate proforma and modeling experience and written and verbal communication skills that reflect ability to perform and prioritize multiple tasks seamlessly with excellent attention to detail, and build relationships with a wide variety of stakeholders. Passion for Westhab’s mission of producing top-quality affordable and supportive housing essential.

AGENCY PROFILE & EMPLOYEE EXPECTATIONS:

Westhab is a prominent community development organization, providing housing and supportive services for more than 10,000 of the most vulnerable members of our community each year. We are staffed by an extraordinary group of hard working professionals that are fully committed to our mission - Building Communities. Changing Lives. Working at Westhab is not easy. Our expectations for all staff are high. We believe that the people and the communities that we have the privilege to serve deserve our very best every day. We are a results-driven organization that focuses on empowerment and impact. (EOE)

OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION (OSHA):

The Occupational Safety and Health Administration (OSHA) ensures safe and healthful working conditions to workers by setting and enforcing standards and by providing training, outreach, education and assistance. Westhab complies with all applicable OSHA standards, rules and regulations in addition to keeping our workplaces free of serious recognized hazards.