Real Estate Development Manager

MANNA, Inc.; Washington (District of Columbia); On-site; USD 95,000 - 120,000; Full time

Benefits offered by this job

Disability Insurance

Job summary

Manna Inc. is seeking a Development Manager to advance its affordable housing initiatives in the District of Columbia and Maryland. You will lead acquisitions, predevelopment, and financial analysis to support preservation and new development opportunities.

Responsibilities include sourcing opportunities, entitlements, design coordination, and coordinating with lenders, investors, and internal teams to secure timely closings and strong project economics.

Qualifications

• Demonstrated experience contributing to and/or leading key phases of at least 2–3 affordable housing projects (or equivalent deal experience) from feasibility through financing/closing, with strong predevelopment execution skills.
• Strong financial skills: real estate pro formas, budgets, and capital structuring; proficiency managing financial budgets.
• Working knowledge of design and technical coordination, including plan/budget review.
• Excellent written and verbal communication; ability to manage multiple stakeholders and deadlines.

Responsibilities

• Acquisitions (sourcing support, feasibility, due diligence, and transaction execution).
• Predevelopment leadership (entitlements, design coordination, schedule/budget control).
• Financing (capital strategy, LIHTC and bond applications, debt and equity for housing projects, lender/investor coordination, and closing).
• Underwriting & financial analysis, including pro formas and development budgets.

Job description

Manna, Inc. is a nonprofit developer of affordable rental and homeownership housing, a condominium and homeowner association manager, and a HUD-approved housing counseling agency operating in the District of Columbia and Maryland. Since its founding in 1982, Manna has invested over $350 million in District of Columbia neighborhoods and has helped over 2,000 low- and moderate-income households become homeowners.

Manna’s approach is to perform development functions in -house through its development staff and partner closely with its sales/marketing and homebuyer education and counseling teams, with select joint venture arrangements.

Manna’s real estate functions occur in the Project Development department, which focuses on developing and building high-quality affordable rental and homeownership projects.

POSITION SUMMARY

• Acquisitions (sourcing support, feasibility, due diligence, and transaction execution),
• Predevelopment leadership (entitlements, design coordination,schedule/budget control), and
• Financing (capital strategy, LIHTC and bond applications, debt and equity for homeownership projects, lender/investor coordination, and closing).

The Development Manager will help advance Manna’s strategic housing priorities, including expansion into local jurisdictions in Maryland and Virginia through preservation, affordable homeownership, and new development opportunities.

ESSENTIAL FUNCTIONS / RESPONSIBILITIES

1) Acquisition, Feasibility & Due Diligence:

• Source and evaluate opportunities aligned with Manna’s housing priorities (single- family homeownership, multifamily, and new construction).
• Conduct and/or coordinate site assessment, feasibility analysis, market research, and due diligence (including third-party reports and risk flags) to inform go/no-go decisions.
• Support negotiation and execution of key transaction milestones (LOI/PSA support,duediligencetracking,andclosingreadiness)incoordinationwithinternal leadership and external counsel.

2) Predevelopment Leadership (Entitlements, Design, Budget, Schedule)

• Lead predevelopment from concept through closing: entitlements, design coordination, scope definition, and predevelopment schedules.
• Manage consultants and coordinate effectively with architects, engineers, landscape/interior designers, property managers, and project managers to keep deliverables on track.
• Review architectural/engineering plans and construction budgets for alignment with program requirements, feasibility, and long-term performance.

3) Underwriting & Financial Analysis

• Structure, underwrite, and manage project pro formas and key assumptions (especially for-sale housing where applicable).
• Buildclearsources/uses,developmentbudgets,andscenario/sensitivityanalyses; identify gaps, mitigations, and tradeoffs.
• Prepare concise investment recommendations and present analysis to internal decision-makers and committees.

4) Financing Strategy, Applications & Closings

• Apply, negotiate, and support securing layered financing including grants, loans, LIHTCs (as applicable), rental assistance contracts, and other housing subsidies.
• Coordinate financing deliverables: third-party reports, appraisals/market studies, environmental, legal and lender requirements, and closing checklists.
• Manage timelines and communication across lenders/investors, public funders, internal stakeholders, and consultants to achieve on-time closings.

EDUCATION & QUALIFICATIONS

• Demonstrated experience contributing to and/or leading key phases of at least 2–3 affordable housing projects (or equivalent deal experience) from feasibility through financing/closing, with strong predevelopment execution skills.
• Strong financial skills: real estate pro formas, budgets, and capital structuring; proficiency managing financial budgets.
• Working knowledge of design and technical coordination, including plan/budget review.
• Excellent written and verbal communication; ability to manage multiple stakeholders and deadlines.

Compensation:

Salary range between $95,000 to $120,000 commensurate with experience.

• Disability Insurance

Manna Inc. is an equal opportunity employer.