VISION: We envision a Pittsburgh with healthy neighborhoods that are thriving, resilient, and livable for all.
MISSION: Neighborhood Allies works to support the people, organizations and partnerships committed to
creating and maintaining healthy neighborhoods.
Position: Director of Real Estate Services
Status: Full-time
Reports to: President
Purpose:
The Centralized Real Estate Accelerator (CREA) is a bold new comprehensive and centralized community-based real estate model (pilot) aimed at increasing the capital flow, economic opportunity, and transforming the lives of traditionally underserved residents. We will do this by eradicating pre-development, real estate technical capacity and performance, monitoring, and reporting gaps in the system. The lack of technical capacity, human resources and pre-development funding at the early stages of a project are critical to success, and significantly impairs a community’s ability to lead its own success. We are seeking to demonstrate how developing internal capacity, as well as shepherding resources of multiple partners will prove that this intervention at the ideation and pre-development stage will eliminate barriers, create a more predictable pipeline, and revitalize our communities’ capacity to unlock and absorb capital.
Over the next 18 months, Neighborhood Allies will be looking to build-out, test, model and fully develop the Centralized Regional Real Estate HUB. The Centralized Regional Real Estate Hub will be designed to revolutionize the community-based real estate development system by building an enduring communitybased real estate ecosystem in Greater Pittsburgh. We will simultaneously strengthen the production, asset and property management capacity, and outcomes of participating CDCs/CBOs/Neighborhood Developers, and the industry as a whole; analyze the impacts to the cash flow and balance sheets of participating organizations; enhance the ability of community development actors to secure financing for their development projects; and help ensure wealth creation and anti-displacement in the communities within which they are located.
The Director of Real Estate Services will leverage their skills and experience in housing and commercial real estate best practices to take a significant leadership role in the creation of the Centralized Real Estate Accelerator (CREA) during the pilot phase. The Director oversees in strategic support with the President and COO the real estate development activities of the initiative, works with clients, partners, stakeholders and funders to successfully raise capital and launch the regional program. The successful applicant should have proven experience in business development, fundraising and organizational development, with several years of management experience in a non-profit organization or similar environment. The candidate must be motivated, entrepreneurial and have the ability to solve complex problems, and have a passion for community-based real estate development.
High-level Strategic Priorities of CREA Pilot Include:
- Build the pillars of the initiative including but not limited to: Real Estate Capacity Building, Direct Project Support, Unlocking and Accessing Capital, Talent & Supply Chain, Local Developer Training, Research (R&D) and Policy Advocacy.
- Create systems to develop a community-based real estate pipeline of projects and investment capital availability.
- Develop diagnostic tools for organizations and projects.
- Identify and manage a centralized talent network.
- Develop and communicate impact metrics, monitor neighborhood change, and encourage transparency and accountability.
- Creation of new collaborative relationships amongst those working on economic development, workforce development, and community development.
- Integrate networks of participants to Economic Opportunities through FOCs, FEC’s, and Workforce Development systems.
Key Responsibilities Include:
- Oversee and implement Systemic Finance Innovation, including strategy, policy, and goal setting that advances the mission of the Centralized Real Estate Accelerator and strengthens the Community Investment System.
- Lead efforts, with support of the President and COO to present high-level, business development and fund-raising presentations with key funders, investors and Centers of Influence, resulting in multi-year, significant funding.
- Foster partnerships between small-scale developers and nonprofit organizations with high-capacity developers to scale equitable real estate development solutions in strategic neighborhoods that demonstrably improve the neighborhoods, while building economic opportunity for residents.
- Manage development consultation services to partner organizations as requested, define scope of work for development services contracts and complete contracted activities.
- Work with community development partners to assess feasibility, develop realistic financing strategies, and access public subsidies and conventional financing in order to assure successful project execution.
- Establish performance measures, monitor results, and evaluate and communicate the efficacy of the initiative.
- Increase the development capacity of the CDC and CBO network through the provision of training and educational opportunities.
- Identify and develop sound and transformative real estate deals that match Neighborhood Allies’ investment targets and neighborhood plans.
- Analyze the city/regional Community Development Real Estate pipeline.
- Facilitate internal conversations and visioning processes to define the most effective way to advance the development agenda of Neighborhood Allies.
- Serve as principal advisor to the President and COO on all issues associated with real estate.
- Assist the President and COO in the development of new program initiatives related to neighborhood real estate capacity building, and the coordination of the Real Estate Allies Leadership (REAL) Network.
- Broker, grow, and maintain relationships with local community development lenders, CDFIs, intermediaries, land banks, and public officials.
- Develop and maintain databases of Neighborhood Allies real estate investment portfolio.
- Maintain visibility, excellent relationships and good communications with funding sources, other non-profit organizations and the public.
- Lead research, synthesis and publication agenda that advances policy, best practices, innovation and equitable development in region.
- Supervise work of program support staff and consultants, as appropriate.
Qualifications:
- Bachelor’s degree and a minimum of seven years’ experience in the field of community development, including significant responsibilities for real estate development.
- Master’s Degree in finance, business administration, urban planning, public administration or similar field preferred. (Additional relevant work experience may be substituted.)
- At least five years managing real estate development projects from concept to completion, including affordable housing and/or commercial real estate (preferably both).
- Construction and/or property management experience is not required but is a preference.
- Familiarity with or experience in community development, in lending or investing, and including rental, homeownership and non-residential development will be a definite plus.
- A comprehensive understanding of federal and state housing programs including the Low-Income Housing Tax Credit program and HUD affordable housing programs.
- Experience in real estate negotiations and purchase.
- Experience with grant writing and management, and project management.
- Ability to exercise sound judgment and initiative in solving problems.
- Must possess working knowledge of Word and Excel spreadsheets.
- Commitment to social and economic justice.
- Excellent ability to establish and maintain cooperative working relationships with residents, employees, Board members, government officials and the public.
Desired Knowledge of:
- Extensive knowledge of federal, state and local regulations pertaining to affordable, workforce and market rate housing development.
- Real estate development and financing, including the construction lending process and procedures; primarily in the area of low-income housing development by community development corporations, non-profit agencies, and housing authorities.
- Bank loan underwriting techniques, financial analysis, analysis and evaluation of financial statements.
Ability to:
- Demonstrate strong written and verbal communication skills.
- Exhibit strong familiarity with principles of affordable housing funding programs and mechanisms including local, state, federal housing and community development programs, and low-income housing tax credits.
- Prove strong familiarity with roles of architects, contractors, attorneys, syndicators, appraisers, environmental engineers, realtors and other allied professionals in the development process and their impact on real estate lending analysis.
- Understand basic underwriting issues with respect to residential and non-residential real estate development.
- Work easily with computer office software, specifically Microsoft Word and Excel; very strong Excel skills required.
- Work with individuals of diverse racial, ethnic, economic, social and educational backgrounds.
- Display the characteristics of being a self-starter/initiator who can build strong relationships and move projects forward.
- Prioritize and handle multiple tasks.
- Demonstrate familiarity with the economic, underwriting, land acquisition, political and social environment.
- Exhibit interest in and be committed to the revitalization of low- and moderate-income communities.
- Understand intangibles and group process, a good sense of humor, patience, integrity.
SALARY:
Neighborhood Allies offers a competitive salary and excellent benefits.
TO APPLY:
Please send cover letter, resume and salary requirements to:
Neighborhood Allies
429 Fourth Avenue, Suite 1900
Pittsburgh, PA 15219
info@neighborhoodallies.org
No phone calls please. Position will remain open until April 28, 2020 or until filled.
NEIGHBORHOOD ALLIES IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY
AND INCLUSION.
Download a PDF of the job description here.
