Company Background: Beacon Communities LLC is a mission-driven for-profit company that develops, owns, and manages affordable and mixed income housing. We own and manage approximately 18,000 apartments across the northeast and have a proud fifty-year history of building and managing award-winning residential communities that serve a diverse cross-section of society and make enduring contributions to the cities and towns where they are located. We are actively developing in Massachusetts, Connecticut, Maryland, New York, Ohio, Pennsylvania, and Virginia. These developments include, among other things, the preservation and renovation of existing affordable housing, the redevelopment of distressed public housing, the adaptive reuse of historic buildings into mixed-income housing, and the new construction of Passive House certified apartment buildings serving low income households.
General Statement of Duties: The Development Director works as the liaison between Beacon’s senior leadership and all team members both internal and external on development projects. The Development Director is responsible for implementing and overseeing all phases of real estate development. Tasks include, but are not limited to (1) assessing and acquiring potential development sites and/or properties; (2) budgeting and financial analysis including pro-forma development and cash flow forecasts; (3) securing debt and equity financing including completing financing applications and supporting financing closings; (4) coordinating with development team members; (5) facilitating the permitting and construction/renovation process; and (6) overall project management.
Supervision Received: Reports to the President or Vice President of Beacon Communities Development.
Supervision Exercised: No formal supervisory duties required. Development Directors often work in concert with Development Associates and Senior Development Associates and are required to thoughtfully and effectively leverage this assistance.
FLSA Status: Exempt
Location: Corporate Office (Boston)
Essential Functions of the Position: The Development Director, working closely with Beacon’s senior leadership, will bear primary responsibility for:
- Identifying and researching potential sites for development and/or existing residential properties for acquisition;
- Conducting project feasibility studies, sensitivity analysis, and residual land value analysis;
- Selecting development team members and consultants and negotiating/coordinating contracts with vendors and contractors;
- Developing and maintaining development and construction budgets, including working with design team to develop an appropriate scope of work;
- Researching financing opportunities and complete One-Stop and/or other financing applications;
- Working with lenders, allocating agencies, syndicators, and equity joint-venture partners to secure necessary funding. Coordinate with lenders and equity joint-venture partners during their due diligence, including providing necessary documentation as requested;
- Obtaining all necessary permits, including zoning and environmental approvals;
- Coordinating closing agenda items to ensure the project’s financing closes on schedule;
- Providing day-to-day project management services from project planning and financial structuring through construction completion and project close-out;
- Managing project budgets including invoice processing, requisition submittals, accounting systems, and schedule; and
- Directing Development Associates and Senior Associates assigned to assist with the Development Director’s projects.
Education: Undergraduate degree (BA or BS), preferably in Planning, Public Policy, Engineering, Construction Management, Real Estate Development, or related field. Ideal candidates will have a masters’ degree (MS, MSRED, MBA, or other) in a field related to real estate development.
Experience: Minimum 5 years of real estate development, planning, investment, engineering, or construction management experience, preferably in the affordable housing environment. A masters’ degree in a related field can be substituted for 2 years of experience depending on field of study. Project experience should include exposure to all major aspects of project development and ability to work independently on all phases of project management. Candidates should have successfully participated in 4 or more complex affordable housing financial closings (or projects of comparable scale and complexity).
Qualifications, Skills and Abilities:
- Extensive real estate development and project-management experience through all phases of development (acquisition, design, permitting, financing, construction, and lease-up);
- Working knowledge of affordable housing programs;
- Strong financial modeling skills and working experience with real estate finance;
- Highly motivated and capable of independent work on multiple tasks and projects;
- Demonstrated experience in team leadership with emphasis on collegial collaboration and partnering in the context of planning and construction activities;
- Ability to effectively communicate (in writing and in conversation) to team members, senior management, and investors;
- Familiarity with (or proficiency in) a second language spoken by many of our residents is desirable but not required; and
- Proficiency in Microsoft Excel, PowerPoint, and Word.
Some travel will be required, as our portfolio consists of assets throughout New England and the Mid-Atlantic.
Beacon Core Competencies required for all positions:
Teamwork, Integrity/Ethics, Dependability, Customer Focus, Adaptability/Flexibility
Beacon Project Director Job Competencies:
Job Knowledge, Quality, Problem Solving/Analysis, Interpersonal Skills, Personal Organization, Productivity
Beacon Communities LLC seeks a diverse pool of candidates. We are committed to a policy of equal employment opportunity without regard to race, color, ancestry, national origin, religion, disability, gender, gender identity, sexual orientation, age, veteran status or other protected class.
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