Real Estate Developer - Mountain Housing Opportunities

Asheville, NC
Full Time
Mid Level

Ask yourself
Are you passionate about improving homes, neighborhoods, communities, and lives?


Are you knowledgeable about all phases of affordable housing development, principles and practices of the real estate field, and construction and construction budgeting?

Are you ready leverage your skills to bring more affordable housing to Western North Carolina?

Why?

Mountain Housing Opportunities (MHO) is seeking its next Real Estate Developer.

MHO produces over $10 million each year in affordable and workforce housing development, apartment leasing and management, home lending, housing preservation in the form of Emergency Home Repairs for low-income homeowners, and neighborhood revitalization. Since our founding in 1988, MHO has helped over 6,000 households and now serves over 2,000 people each year in our combined programs. See www.mtnhousing.org.

MHO is working to build on our positive record of Racial Equity, Diversity, and Inclusion (REDI) by incorporating REDI principles and practices in all areas of MHO operations, programs, hiring and human resources, training, promotions, contracting, management, and governance.

What will you do as MHO’s next Real Estate Developer?

A Real Estate Developer (RED) serves as part of MHO’s rental development team and is responsible for both development of new projects and managing capital projects in the MHO portfolio. The RED reports to the Director of Community Rental Investment and works with the other Real Estate Developers, Development Interns, Architects, and other key agency staff to advance the following principles of Equitable Development.

The RED identifies and manages all aspects of affordable housing development or commercial projects, including feasibility, design, community outreach and financing. The position works in a team with internal staff, development partners, and external consultants.

REAL ESTATE DEVELOPMENT

Feasibility of Potential Projects
  • Identify potential projects based on referrals from community contacts and agency directors.
  • Prepare and maintain preliminary development cost estimates in collaboration with other MHO Leadership, architect, and/or general contractor.
  • Develop preliminary operating cost estimates in collaboration with Asset Management and Property Management.
  • Identify sources for pre-development financing and, as necessary, make application to those sources.
  • Prepare cash flow analysis for both pre-development and development period.
  • Identify potential permanent funding sources for individual projects.
  • Identify and analyze potential community and political impacts of projects.
  • Identify and analyze MHO’s exposure and risk, including financial, political and community aspects.
Financial and Community Support
  • Negotiate site control for acquisition of land and/or building.
  • Prepare applications for competitive funding sources including, tax credit allocation, grants, and funding from City, County, State and Federal agencies as appropriate.
  • Notify community groups and neighbors of intent to develop or purchase projects and maintain ongoing communication with neighborhood interests during design and development.
  • Identify project investor(s) and lender(s), in collaboration with other development and fiscal staff.
  • Negotiate and close all agreements associated with project pre-development, development, and post- development funding.
  • Summarize terms of all financial agreements for use by development, property management and finance departments.
  • Close out funding sources at completion of project development.
New Construction and Acquisition
  • Identify and contract with development team, including resources such as property management, general contractor, banking or financial officers, and other resources such as environmental consultant, architect or, other professional consultants.
  • Manage ongoing team coordination activities including periodic project meetings.
  • Prepare and submit periodic reports and manage ongoing relationships with representatives of all funding sources for projects in development.
  • Coordinate with MHO Financial Officers to reconcile cost accounting to bank budget, and coordinate construction and soft costs compared to development budget.
  • Prepare reports regarding overall project development budget status for CEO, Financial Officers, Director of CRI, and Board.
  • Coordinate permitting and infrastructure activities to the extent required for project development schedule.
Coordination of Development Activities
  • Initiate and maintain communication with other MHO departments during feasibility, funding, project development and close-out activities.
  • Participate in clarification of accounting transitions from pre-development to development, to cost certification, to project operation.
  • Participate in transition from construction completion to property management operations.
  • Negotiate terms of all construction/permanent loans and investor agreements.
Team Effectiveness, Community Relationships and Professional Expertise
  • Participate in development team meetings, strategic planning sessions, identify functional improvements, and other similar activities.
  • Identify other professional organizations related to housing development activities and establish appropriate relationships.
  • Create and maintain individual professional development plan.

Why MHO?

Mountain Housing Opportunities (MHO) is a nonprofit housing and community development organization serving principally Asheville, Buncombe County, and other areas of western North Carolina. Our mission is to build and improve homes, neighborhoods, communities, and lives, and to build hope and dignity in the people we serve. We believe that if you work in this community, you should be able to live here in a safe, attractive affordable home in a good neighborhood, and when you retire or if you become disabled, this should still be true.

Key lived experiences, attributes, and skillsets sought in a Real Estate Developer
  • A bachelor’s or master’s degree in business administration, architecture, urban planning, real estate, or related disciplines.
  • Two to three years of increasingly responsible experience in non-profit real estate development, affordable housing, real estate finance or related fields in the local area.
  • Strong problem-solving, organizational, time, and project management skills.
  • Knowledge of all phases of housing development, including federal, state, and local programs and regulations regarding the development of affordable housing, principles and practices of the real estate field, and construction and construction budgeting.
  • Ability to work effectively with individuals and community groups from a wide variety of cultures in a professional, respectful, and engaging manner.
  • Ability to collaborate successfully across the organization.
  • Excellent written and verbal communication skills.
  • Proficient and experienced with Microsoft Office applications, particularly Word, Excel, and Outlook or equivalent programs.
Special Requirements
  • Normal or corrected hearing ability and unimpeded voice/speaking abilities are required by this job. 
  • Normal or corrected vision is needed along with the ability to focus clearly at close and far ranges.
  • Flow of work and character of duties involve approximately 70% of time in a seated position along 20% with time standing and walking within a typical office environment. May occasionally need to climb stairs, balance, stoop, or kneel. 
  • Approximately 10% of time is spent outside of the office setting visiting potential sites and construction sites which would require good mobility for walking and otherwise traversing job sites, attending meetings, or within the community.
  • Job duties require reaching, handling, feeling and good manual dexterity for computer mouse and keyboard activities.
  • Must be able to transport a laptop computer, light equipment and files weighing less than 10 lbs.
  • Subject to low to moderate noise with typical work environments (computers, printers, light traffic) is characteristic for this job.  Occasionally exposed to construction site noise and hazards for short periods of time.  Must wear personal protective equipment, such as safety glasses, earplugs, safe footwear when warranted.  May be subjected to various weather conditions including hot or cold temperatures and precipitation. 
  • Must have a valid NC driver’s license and be able to travel independently as job duties dictate. 
  • Must be able to pass a drug screen, criminal background check and a consumer credit check.
Salary is commensurate with experience and is in the $60,000 to $70,000 range. This is a full-time, hybrid position. MHO’s very competitive benefits package includes 100% health insurance coverage for employee, 100% dental insurance coverage for employee, retirement (3% of annual salary provided by MHO), life insurance and short and long term disability.

Think you are MHO’s next Real Estate Developer?
To apply, click on the link to the MHO – Real Estate Developer position profile at ArmstrongMcGuire.com/jobsYou will see instructions for uploading your compelling cover letter, resume, salary requirements, and professional references. Please provide all requested information to be considered.

In case of any technical problems, contact [email protected]. No phone calls, please, and no applications will be accepted by email or directly from third-party posting sites.

It is the policy of MHO to provide equal opportunities without regard to race, color, religion, national origin, gender, gender identity, sexual preference, age, or disability. People of color and people of all national origins, genders, gender identities, sexual preferences, ages, disabilities, and other diverse groups are encouraged to apply.

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