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Senior Project Manager, Development
The New York City Housing Development Corporation (HDC) is a public benefit corporation and the nation’s largest municipal Housing Finance Agency. HDC’s programs support the construction and preservation of multi-family affordable housing in New York City.
Area of Talent: Development/Affordable Housing
Position Type: Full Time/Exempt
Salary Range: $100,000 - $120,000
Office Location: NYC/Financial District
Position Summary:
The Senior Project Manager is responsible for originating, underwriting, and closing mortgage loans to finance the new construction and preservation of affordable and public housing using funds raised through bond issuances and/or allocations of corporate reserves. This role reports to the Vice President of Preservation in Development.
Job Responsibilities:
- Work primarily with the Vice President of Preservation to review portfolio refinancing opportunities.
- Liaise with HDC Asset Management, Capital Markets and other internal parties to gather necessary information to assist in analyzing repositioning strategies.
- Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to credit committee for approval).
- Coordinate mortgage loan closings and conversions with internal and external parties, including developers, other City agencies, most notably NYC HPD and NYCHA, bankers, bond underwriters and tax credit syndicators.
- Manage relationships with current and prospective developers/borrowers.
- Prepare management reports and loan tracking information and update internal systems with deal information.
- Assist in evaluating and/or formulating affordable housing programs, terms, and policy initiatives.
Required Qualifications:
- Bachelor’s degree with substantial course work/credits specific to finance and/or real estate.
- Minimum of 4+ years of relevant experience in real estate lending and/or development; or a satisfactory combination of education and/or experience equivalent to the above.
- Demonstrated interest in the affordable housing preservation.
- Proficiency in creating mortgage loan models. employing financial concepts and analyzing property financial audits.
- Strong interpersonal, verbal, and written communication skills.
- Ability to build relationships with staff, executives, and external partners.
- Strong organizational skills with excellent attention to detail.
Preferred Qualifications:
- Graduate degree in related field a plus.
- Knowledge of Federal, New York State, and New York City affordable housing programs and the development process is a plus.
It is strongly preferred that you submit a cover letter with your resume. You may also fax your resume and cover letter to (212)227-6816.
HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits, including:
- Health Benefits at a reasonable cost
- Dental and Vision Benefits at no cost
- Retirement savings plan with a generous match and a pension plan
- Paid holiday, vacation, sick time and parental leave
- Professional development opportunities
- Public Service Loan Forgiveness for eligible employees
- Wellness reimbursement
- Back-up Caregiver Benefit
HDC is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
HDC is committed to the full inclusion of all qualified individuals. As part of this commitment, HDC will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please complete the reasonable accommodations section on the application or contact Human Resources by emailing jobs@NYCHDC.com.
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