Vice President - Development, Finance & Underwriting

Philadelphia Housing Authority; Philadelphia (Philadelphia County); On-site; USD 140,000 - 230,000; Full time

Job summary

The Philadelphia Housing Authority is seeking a senior Development Finance underwriter who will lead underwriting for development and redevelopment projects, evaluating feasibility and risk. You will structure capital, develop proformas, and provide transaction support with lenders and internal teams.

Qualifications include a bachelor’s degree with 10 years in real estate development finance, experience in HUD/LIHTC programs, and strong leadership to mentor staff. Master’s degree preferred.

Qualifications

• Bachelor’s degree and 10+ years in real estate development finance, underwriting, or capital structuring, with at least 3 years supervising staff.
• Experience leading underwriting, financial modeling, proformas, and transaction support for complex development projects, including affordable or public housing.
• Master’s degree preferred; demonstrated ability to collaborate with Finance, Asset Management, Property Management, and external lenders.

Responsibilities

• Lead underwriting of development and redevelopment projects evaluating feasibility and risk.
• Develop and structure capital including debt, equity, grants, and funding sources.
• Prepare detailed proformas and financial models for new development and rehabilitation.
• Provide transaction support including due diligence, funding submissions, lender coordination, and closing documentation.
• Develop and implement financial strategies for project pipelines optimizing feasibility and long-term performance.
• Collaborate with Finance, Asset Management, Property Management, and lenders to meet objectives.
• Monitor financial performance and provide recommendations for refinancings or improvements.
• Provide leadership and mentorship to development finance staff.
• Ensure compliance with HUD, LIHTC, RAD, and other housing program rules.

Skills

Financial analysis

Underwriting

Capital structuring

Leadership

Strategic thinking

Communication

Education

Bachelor's degree

Master's degree preferred

Job description

ESSENTIAL FUNCTIONS

Leads the underwriting of development and redevelopment projects, evaluating feasibility, risk, and financial viability.

Develops and structures capital for projects, including debt, equity, grants, and other funding sources, ensuring alignment with organizational and funding requirements.

Prepares, reviews, and maintains detailed proformas and financial models for new development and rehabilitation projects.

Provides transaction support, including due diligence, funding submissions, lender coordination, and closing documentation.

Develops and implements financial strategies for the project pipeline, optimizing project feasibility, capital efficiency, and long-term financial performance.

Collaborates closely with Finance, Asset Management, Property Management, and external lenders to ensure projects meet organizational, financial, and regulatory objectives.

Monitors financial performance of active projects, providing analysis and recommendations for adjustments, refinancings, or operational improvements.

Provides leadership, guidance, and mentorship to development finance and underwriting staff.

Ensures compliance with federal, state, and local financing requirements, including HUD, LIHTC, RAD, and other public housing or affordable housing program rules.

Participates in executive-level decision-making regarding development project approvals, investment strategies, and capital allocation.

Maintains accurate financial documentation, reporting, and records to support internal management, audits, and lender requirements.

Performs related duties as assigned

MINIMUM QUALIFICATIONS:

Education, Training and Experience Guidelines:

A Bachelor’s degree and a minimum of ten (10) years of directly related experience including progressive experience in real estate development finance, underwriting, or capital structuring, a minimum of three years of experience supervising professional staff is required; an equivalent combination of education and experience may be considered.

Preferred

Preferred

Demonstrated experience leading underwriting, financial modeling, proformas, and transaction support for complex development projects; Affordable or public housing experience; Experience collaborating with Finance, Asset Management, Property Management teams, and external lenders to structure capital, manage risk, and execute development strategies.

Master’s degree is preferred.

Required Knowledge of:

• Federal, state, and local statutes, codes, and regulations governing public housing development, construction, and finance, including HUD and Code of Federal Regulations requirements.
• Real estate development finance, underwriting, and capital structuring, including debt, equity, grants, and other funding sources.
• Financial modeling, proforma analysis, and project feasibility assessment for development and redevelopment projects.
• Public housing and affordable housing programs, including HUD, LIHTC, RAD, and other regulatory and funding requirements.
• Financial risk management, transaction structuring, and lender requirements.
• Internal organizational processes and collaboration with Finance, Asset Management, and Property Management teams.

Required Skill in:

• Ability to lead and oversee complex financial analyses, underwriting, and capital structuring for multiple development projects simultaneously.
• Strong analytical and strategic thinking skills to evaluate project feasibility, financial performance, and risk.
• Ability to communicate effectively with executive leadership, internal teams, external lenders, and stakeholders.
• Strong leadership and team management skills to mentor and guide development finance and underwriting staff.
• Ability to organize, interpret, and present complex financial information clearly to support decision-making and regulatory compliance.

LICENSE AND CERTIFICATION REQUIREMENTS:

A valid Driver's License is required.

Supervisory responsibilities

Supervises a professional staff

Limited travel to PHA sites as warranted.