(Senior) Project Manager, Real Estate Development

Evolving Solution Services; Charlottesville (VA); Hybrid; USD 100,000 - 150,000; Full time

Benefits offered by this job

Health insurance

Disability insurance

Paid time off

Cell phone stipend

Retirement plan with company match

Job summary

Wesley Housing seeks a Real Estate Development Project Manager/Senior Project Manager to lead affordable housing developments across Virginia, including preservation and new construction. You will manage feasibility, financing, design, and construction while coordinating with partners and stakeholders.

The role requires experience in LIHTC and financing, with travel across Southern, Central, and Eastern Virginia.

Qualifications

• Bachelor's degree in real estate, urban planning, architecture, engineering, business, finance, public administration, or related field.
• Project Manager: 3+ years of experience in affordable housing development, real estate finance, construction, or project management (Senior: 7+ years).
• Experience with LIHTC, HUD affordable housing programs, and Virginia funding agencies is preferred.

Responsibilities

• Manage all phases of the affordable housing development process including feasibility, acquisition, due diligence, financing, entitlement, design, permitting, construction, closeout, lease-up, and stabilization.
• Develop and manage predevelopment budgets, sources and uses statements, operating pro formas, financing plans, and project schedules.
• Lead debt and equity negotiations and oversee financial closings to ensure timely milestones and financing commitments.
• Oversee construction activities, monitor schedules and budgets, review change orders, and coordinate closeout and punch list completion.
• Prepare reports on project status, financial performance, risks, milestones, and activities for senior leadership and funding partners.

Skills

LIHTC knowledge

Real estate development

Financial analysis

Negotiation

Project management

Stakeholder management

Education

Bachelor's degree in real estate, urban planning, architecture, engineering, business, finance, public administration, or related field

Tools

Microsoft Office Suite

Excel

PowerPoint

Outlook

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Salary Range: $100,000.00 To $150,000.00 Annually

Reports to: Vice President of Real Estate Development

Supervisory Role: May supervise an Associate Project Manager

Location:Charlottesville, VA. Hybrid. Flexible within Virginia, with preference for candidates residing in Southern or Central Virginia. Remote work with regular travel to project sites (25% to 35%) and approximately two to four in-person meetings per month at our Alexandria office or other portfolio locations.

Work Schedule: This is a full-time, 40 hours per week position, Monday through Friday between the hours of 8 a.m. and 6:30 p.m. Occasional evening or weekend hours for project-related community/board meetings and/or special events.

Company Overview

Wesley Housing, a leading nonprofit developer throughout Virginia and the District of Columbia, has worked to provide affordable rental housing for individuals and families for more than 50 years. Since its founding, Wesley Housing has emerged as a premier developer of affordable housing with current ownership of 43 communities. Wesley Housing supplements housing with supportive services to build up the lives of its ~5,300 residents living across its owned and operated communities, including low- and moderate-income families, older adults, and individuals with disabilities and/or chronic disease. Wesley Housing’s headquarters are located in Alexandria, VA (Fairfax County). For more information, please visitwww.wesleyhousing.org and follow @WesleyHousing on social media.

The Real Estate Development Project Manager plays a critical role in advancing the goals and objectives of the Real Estate Development (RED) department. This position works extensively with internal and external partners to support Wesley Housing’s mission of developing and preserving high-quality affordable housing.

This role may be filled at either the Project Manager or Senior Project Manager level based on the selected candidate's qualifications, experience, and demonstrated competencies.While both levels are responsible for managing affordable housing development projects from concept through stabilization, the Senior Project Manager is expected to lead more complex transactions, independently manage strategic partnerships and financing activities, may supervisor associate project manager(s), and play a larger role in business development and portfolio growth.

The Project Manager will manage all aspects of the affordable housing development process for preservation and new construction projects located throughout Southern, Central, and Eastern Virginia, including rural, suburban, and small metropolitan communities. The position will support both existing portfolio investments and the continued expansion of Wesley Housing's affordable housing portfolio throughout Virginia.

In addition to managing assigned development projects, the Project Manager will lead feasibility analyses, respond to Requests for Proposals (RFPs), and support new business development efforts. The Project Manager will have direct responsibility for the full range of project management activities associated with each assigned project, from initial concept, site control, and financing through construction completion, lease-up, and stabilization.

Market Focus:Lynchburg Region, Roanoke Valley, Southside Virginia, Shenandoah Valley, Richmond Region, Hampton Roads/Chesapeake Region, Eastern Shore, and other Southern/Central Virginia affordable housing markets.

Essential Functions

• Manage all phases of the affordable housing development process, including feasibility, acquisition, due diligence, financing, entitlement, design, permitting, construction, closeout, lease-up, and stabilization.
• Conduct project feasibility assessments and develop recommendations regarding financing strategies, market conditions, operational performance, physical viability, and organizational fit.
• Identify, evaluate, and pursue new development opportunities, including responding to Requests for Proposals (RFPs), Requests for Qualifications (RFQs), and other competitive procurement opportunities.
• Cultivate relationships with local governments, housing authorities, nonprofit organizations, faith-based institutions, and other potential partners to identify and advance affordable housing development opportunities throughout Virginia.
• Monitor and coordinate development and design activities, ensuring compliance with Wesley Housing design standards, funding requirements, and organizational objectives.
• Manage community, stakeholder, and resident relations in partnership with Property Management, Asset Management, and Resident Services, as appropriate.
• Coordinate and oversee the work of project teams, including architects, engineers, contractors, construction managers, attorneys, lenders, equity investors, and other consultants.
• Develop and manage predevelopment budgets, project sources and uses statements, operating pro formas, financing plans, and project schedules throughout the development lifecycle.
• Prepare and secure predevelopment, acquisition, construction, and permanent financing, including loans, grants, tax credits, subsidies, and other public and private funding sources.
• Lead debt and equity negotiations and oversee financial closings to ensure timely execution of project milestones and financing commitments.
• Oversee construction activities, monitor project schedules and budgets, review change orders, manage project risks, and coordinate construction closeout and punch list completion.
• Prepare regular reports on project status, financial performance, risks, key milestones, and projected activities for senior leadership, funding partners, and governing bodies.
• Coordinate project transitions to Asset Management and Property Management, including preparation of turnover documentation and operational handoff materials.
• Collaborate with Asset Management and third-party Property Management partners regarding resident relocation, lease-up, stabilization, operational performance, and long-term asset stewardship.
• Support presentations and provide staff support to the Wesley Housing Board of Directors, Real Estate Committee, and other committees related to development activities and projects under consideration.
• Assist in developing and implementing departmental goals, strategic initiatives, and business development objectives.
• Establish and maintain productive relationships with local, state, and federal housing agencies, financing partners, community stakeholders, and industry organizations throughout Virginia.
• Train or guide the work of other team members and provide mentorship and technical assistance on development-related matters, as appropriate.
• May supervise, guide, and evaluate the work of an Associate Project Manager.
• Conduct research and analysis regarding local, state, and federal regulations, programs, funding opportunities, and policy initiatives that may impact affordable housing development, preservation, and new construction activities.
• Represent Wesley Housing at industry meetings, conferences, community meetings, and professional organizations, as appropriate.
• Perform other duties as assigned.

Required Knowledge, Skills, and Abilities

• Knowledge of affordable housing development, financing, and preservation programs, including applicable federal, state, and local regulations.
• Experience with the Low-Income Housing Tax Credit (LIHTC) program is required. Knowledge of HUD affordable housing programs, including multifamily housing and rental assistance programs, is strongly preferred.
• Knowledge of affordable housing financing sources, including tax credits, public subsidies, conventional debt, government financing programs, and public-private partnerships is required.
• Experience working with Virginia Housing, Virginia Department of Housing and Community Development (DHCD), USDA Rural Development, local housing authorities throughout Virginia, and other affordable housing funding agencies is preferred.
• Experience developing or preserving affordable housing in Virginia, particularly within Southern, Central, Eastern, or rural Virginia markets, is preferred.
• Experience working with nonprofit organizations and mission-driven real estate development organizations is preferred.
• Demonstrated ability to manage multiple projects simultaneously and effectively prioritize competing deadlines.
• Strong financial analysis, organizational, project management, negotiation, oral communication, and written communication skills.
• Ability to build and maintain productive relationships with public agencies, financing partners, community stakeholders, consultants, and development partners.
• Proficiency with Microsoft Office Suite, including Excel, Word, PowerPoint, and Outlook.
• Strong attention to detail and ability to work independently in a collaborative team environment.

Required Education, Certifications/ Licenses, and Related Experience

• Bachelor's degree in real estate, urban planning, architecture, engineering, business, finance, public administration, or a related field required. A master's degree or other relevant advanced degree is preferred.
• Project Manager: Minimum of three (3) years of progressively responsible experience in affordable housing development, real estate finance, construction, or project management. Demonstrated ability to manage development projects, collaborate with multidisciplinary teams, and support financing and business development activities.
• Senior Project Manager: Minimum of seven (7) years of progressively responsible experience in affordable housing development, real estate finance, construction, or project management. Demonstrated success independently leading complex affordable housing developments, structuring multifaceted financing, cultivating strategic partnerships, mentoring junior staff, and advancing new business development opportunities.
• Experience managing multiple phases of the development process, including project feasibility, financing, entitlement, construction, and project closeout, is preferred.
• Experience working with public funding sources, including Low-Income Housing Tax Credits (LIHTC), HUD, Virginia Housing, Virginia DHCD, USDA Rural Development, or other affordable housing financing programs is preferred.

Physical Job Requirements

• Able to remain in a stationary (standing and/or seated) position more than half the time, while viewing computer monitors
• Able to regularly maneuver (lift, move, carry, slide, etc.) up to approximately 15 pounds.
• Able to operate machinery and/or equipment that requires the constant use of hands/fingers/wrists (examples: typing, filing, etc.) more than half the time

Travel Requirements

• This position requires regular travel throughout Virginia, primarily within Southern, Central, and Eastern Virginia, to support development projects, business development activities, community engagement, and meetings with funding partners, local governments, and other stakeholders.
• Estimated travel is approximately 25% to 35%, depending on project activity and development pipeline.
• Travel will be by personal vehicle. If operating own vehicle, must possess a current driver’s license and personal car insurance and maintain a safe driving record.

Benefits Overview

Wesley Housing offers a generous benefits package to full-time employees that includes health insurance, disability insurance, paid time off, cell phone stipend, a competitive salary, opportunities for training, and a retirement plan with a company match.