Vice President of Development

Harmony Housing Affordable Development; Raleigh (NC); On-site; USD 200,000 - 320,000; Full time

Job summary

Harmony Housing Affordable Development Inc. (HHAD) seeks a Vice President of Development to lead and scale its affordable housing development platform.

The role oversees new construction, acquisition and rehabilitation, preservation, and USDA Rural Development transactions. You will drive project execution from feasibility to closing, lead a high-performing team, manage risk, and ensure timely communication of material issues.

Qualifications

• Bachelor’s degree or higher in real estate, finance, business, construction, urban planning; advanced degree preferred.
• Proven leadership of development teams and multi-project portfolios.
• Strong knowledge of LIHTC, tax-exempt bonds, USDA RD, HUD financing.
• Experience directing acquisition/rehabilitation and preservation transactions.

Responsibilities

• Lead Development department to advance transactions per approved budgets, schedules, and financing.
• Identify delays, risks, and financial exposure; implement corrective actions.
• Coordinate underwriting, financing, and closing with Finance, Legal, Construction, and partners.
• Mentor Directors and Managers; establish clear KPIs and accountability.
• Represent HHAD in negotiations with partners, lenders, and authorities.

Skills

Leadership

Financial acumen

Executive communication

Project management

Negotiation

Education

Bachelor’s degree in real estate, finance, business, construction, urban planning

Tools

Microsoft Office

Financial modeling software

Job description

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Every community we develop reflects the quality, dignity, and excellence we would demand for our own families. Driven by this commitment, our mission is to improve lives through exceptional affordable housing. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing.

HHAD is seeking a Vice President of Development to lead their Development platform. The Vice President of Development provides strategic leadership and oversight of HHAD’s affordable housing development portfolio, including new construction, acquisition and rehabilitation, preservation, and USDA Rural Development transactions.

This executive leadership position is responsible for driving successful project execution, leading and developing a high-performing Development team, and ensuring transactions advance efficiently from initial feasibility through financial closing and transition to Construction and Post-Close Asset Management.

The Vice President is accountable for departmental performance, project schedules, financial objectives, risk management, and timely communication of material issues. Success requires strong leadership, sound judgment, proactive problem-solving, and effective collaboration across the organization.

This is primarily an execution-focused position; new business origination and sourcing of debt and equity are not assigned responsibilities.

Primary Responsibilities and Duties:

Development Leadership & Portfolio Execution

• Lead and oversee the Development department, ensuring transactions advance in accordance with approved budgets, schedules, financing strategies, and organizational objectives.
• Establish and manage portfolio-wide priorities, closing forecasts, project milestones, resource allocations, and performance expectations.
• Provide executive oversight of development budgets, funding gaps, developer fee forecasts and realization, and transaction economics in coordination with Finance.
• Proactively identify project delays, financial exposure, regulatory concerns, and other material risks; implement corrective action plans and promptly elevate matters requiring executive decisions.
• Exercise sound judgment in evaluating material changes to project scope, strategy, budgets, schedules, and transaction terms within established approval authority.

Team Leadership & Accountability

• Lead, mentor, and hold accountable Directors of Development, Development Managers, and other assigned professionals, directly or through subordinate managers.
• Establish clear performance expectations, individual accountability, and measurable departmental goals and KPIs.
• Evaluate staffing needs, workload distribution, employee development, and succession planning to support efficient portfolio execution.
• Promote consistent development processes, quality controls, reporting practices, and continuous improvement throughout the department.

Financial, Transaction & Closing Oversight

• Partner with Finance, Legal, Construction, and other stakeholders to advance underwriting, financing, due diligence, entitlements, applications, and closing requirements.
• Oversee the quality, accuracy, and timely submission of LIHTC, tax-exempt bond, USDA RD, HUD, and other applicable funding applications and approvals.
• Provide senior-level oversight of material transaction negotiations and agreements, including purchase, partnership, financing, development, and regulatory documents.
• Ensure project teams resolve outstanding issues, satisfy closing conditions, and achieve targeted closing dates while protecting approved transaction economics.

Design, Risk Management & Project Transition

• Oversee development-phase design, permitting, entitlements, environmental matters, and preconstruction coordination in partnership with Construction and external consultants.
• Ensure timely identification, mitigation, and escalation of financial, regulatory, design, schedule, and stakeholder risks.
• Direct an organized and documented transition of closed transactions to Construction and Post-Close Asset Management, including budgets, contractual commitments, compliance requirements, outstanding obligations, and identified risks.
• Provide appropriate development-related support following closing while maintaining clear accountability between departments.

Stakeholder Relationships & Executive Communication

• Maintain productive relationships with existing development partners, property owners, housing authorities, government agencies, lenders, investors, legal counsel, and consultants.
• Represent HHAD in significant negotiations, approvals, and stakeholder discussions involving active development transactions.
• Provide Executive Leadership with accurate, timely, and transparent reporting on project performance, anticipated closings, developer fees, financial exposure, staffing, and material risks.
• Ensure timely, accurate, and transparent communication with development partners and other external stakeholders regarding material project developments, risks, and commitments.
• Monitor relevant changes in affordable housing programs and regulations, including LIHTC and USDA RD, and ensure appropriate adjustments to departmental execution.

Performance & Success Measures:

• Performance will be evaluated against established annual goals and KPIs, with emphasis on:
• Closing Execution: Achievement of approved closing schedules and transaction milestones.
• Financial Performance: Development budget discipline, developer fee realization, and accuracy of financial forecasts.
• Risk Management: Early identification, timely escalation, and effective resolution of material issues.
• Leadership & Accountability: Departmental productivity, staff performance, professional development, and team effectiveness.
• Quality of Execution: Accuracy and timeliness of applications, transaction deliverables, stakeholder communication, and post-closing transitions.

Experience, Skills, and Abilities Required:

• Bachelor’s degree in real estate, finance, business, construction, urban planning, or related field; advanced degree preferred.
• Minimum 10 years of progressive affordable housing development experience, including senior leadership and oversight of multiple complex transactions.
• Demonstrated expertise in 4% and 9% LIHTC, tax-exempt bonds, public financing, development underwriting, entitlements, and regulatory requirements.
• Experience with acquisition/rehabilitation and preservation transactions; USDA Section 515 and 538 experience preferred.
• Proven ability to lead development teams, manage competing priorities, negotiate complex transactions, and consistently deliver results.
• Strong financial acumen, executive communication, analytical judgment, organizational discipline, and collaborative leadership skills.
• Proficiency with Microsoft Office and applicable project management and reporting systems.
• The successful candidate will demonstrate entrepreneurial thinking, integrity, caring, excellence, personal accountability, sound judgment, and a commitment to transparency and collaboration.
• HHAD expects its leaders to anticipate challenges, take ownership of outcomes, communicate candidly, and consistently uphold the organization’s standards of professionalism and performance.

This description outlines principal responsibilities and may be modified as organizational needs evolve.

A satisfactory background check will be required as part of the selection process. At Harmony Housing Affordable Development (HHAD), we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build a work environment that empowers all individuals with opportunities to channel their entrepreneurial spirit. HHAD is an EEO employer.

This job description is not inclusive of all responsibilities, skills, requirements, efforts or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position, management reserves the right to modify the position or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.