Oct 03, 2019

Director of Acquisitions and Development

  • CommonBond Communities
  • St Paul, MN, USA
Full-time Education Development and Fundraising

Job Description

CommonBond Communities
Director of Acquisitions and Development
Central Office, St. Paul, MN

Home is the foundation for everything in life. That's why it's been our mission since 1971 to offer quality, dignified affordable housing and life-changing support services. Our model has always been about supporting residents in finding stability and achieving their goals. It's why we're more than housing-we combine quality affordable homes with our on-site Advantage Services because we believe that with the right support and opportunities, all people can thrive. Today, over 13,000 people-families, seniors, veterans, and people with disabilities and other barriers-call a CommonBond community "home."

If creating vibrant, stable communities sounds like important work to you, join us!

CommonBond Communities offers an employee-driven culture that values work/life balance. Our core values are Respect, Integrity, Partnership, Innovation and Excellence. We live these values and look for people who embody them to represent our organization in the community. If this sounds like you, please keep reading!

CommonBond is excited to announce an opening for The Director of Acquisitions and Development. Working at CommonBond's Central Office in St. Paul, MN.

Essential Job Functions and Associated Tasks
Leadership & Supervision

1. Supervise, develop, mentor, and evaluate direct and indirect reports, providing guidance, support, and strong technical support in problem solving, deal structuring, community and policy-maker communications/relationship building. Be fair and clear in expectations of the team and each member. Recognize and acknowledge the skills of each team member, utilize their strengths to the benefit of the team, and advocate for professional development to help each team member realize their respective goals for professional growth. Provide constructive feedback in a timely manner. Monitor workflow and workload of team members, assigning projects in an equitable manner that utilizes respective skills, while also providing for learning opportunities.
2. Work with EVP and the entire Real Estate team to create and sustain a culture that inspires others and motivates teamwork to achieve goals: be a positive influence for change; be open to new ideas; encourage and support independent thinking.
3. In collaboration with EVP of Real Estate, (i) develop A&D operating plan, including relevant metrics, ensuring alignment with CommonBond's strategic plan; (ii) implement the plan, reviewing and modifying annually; and (iii) report on progress.
4. Work in partnership with the EVP of Real Estate on the business area's annual budget, and any modifications during a fiscal year.
5. Professionally represent CommonBond in public meetings, on industry panels, and other community events/meetings.
6. Develop and maintain strong internal relationships with CommonBond colleagues. Participate in relevant meetings, adding value to a strong and inclusive culture.
7. Develop and maintain a strong network of relationships with policy makers, industry leaders, trusted advisors, partners, brokers, lenders, funders, investors, peers, etc. Model strong, professional working relationships with same.
8. Promote and ensure a collaborative approach between A&D functions and staff across the organization that supports consistent and sustainable real estate development transactions, and strengthens CommonBond.
9. Develop appropriate policies, systems, reports to ensure transparency, accountability, and equity in all aspects of real estate development functions.

Real Estate Development - Business Development
1. Ensure consistent growth in affordable rental acquisitions, preservation, and mixed-income developments.
2. Identity multifamily new construction and acquisition opportunities. Perform initial feasibility analysis of potential deals. Assign feasible deals to respective team members.
3. Maintain direct knowledge of priorities of state housing finance agencies covering states in which CommonBond pursues development, including various Qualified Allocation Plans, etc.
4. Ensure continued performance in NOAH business activities.
5. Stay abreast of current economic conditions, and maintain fluent knowledge in various lending programs and other financing tools.
6. Ensure timely preparation of required written presentations to IRC, Housing Board and CommonBond Board with details of project, impact on CommonBond Mission and current strategic plan, financing and operating plans, and risks to CommonBond including mitigating factors.
7. Work in partnership with Asset Management on year-15 exits and refinance opportunities within the CommonBond portfolio.

Real Estate Development - Project Management
1. Source, and serve as project manager for, one housing development project per year, performing duties detailed in CommonBond's Senior Project Manager job description.
2. Assist A&D team in all aspects of project development as necessary, such as purchase agreement negotiations; securing financing; lender/investor selection and respective negotiations; community engagement; and risk analysis and management.
3. Manage interdepartmental planning to ensure successful transition to property management and services.
4. Ensure compliance with all regulatory requirements for A&D.

1. Other duties as assigned or apparent

Why CommonBond Communities?:
• Work-life balance
• Competitive salary
• Excellent benefits
• Employee recognition and rewards program
• Employee referral program
• A respectful and growth-oriented workplace
• A chance to make the difference in the community

Skill Requirements
1. Bachelor's degree with an emphasis in real estate development, finance, business administration, public administration or a closely related field.
2. 8+ years of experience in public or private sector real estate development, multi-family housing development, including experience development affordable multi-family housing.
3. Strong ability to conduct research and present recommendations.
4. Strong analytical skills.
5. Experience supervising others and experience managing and mentoring individuals in developing business skills.
6. Demonstrated experience in identifying potential projects and negotiating financial agreements.
7. Experience preparing project development budgets and monitoring development budgets.
8. Ability to understand and work within municipal, state and federal programs.
9. Working knowledge and experience in general real estate finance and development, including all debt and equity affordable housing programs.
10. Strong negotiation skills.
11. Strong project management skills, ability to direct multiple long-term projects.
12. Strong interpersonal skills: ability to interact effectively and professionally with staff, prospective and current residents, contractors, architects, bankers and other potential funders, community representatives and government agencies. Comfort speaking with members of the media, as assigned.
13. Proficient in Microsoft programs such as Word, Excel, PowerPoint, MS Project, and others.
14. Excellent oral and written communication skills.
15. Ability to work independently, establish priorities and follow through on completion of tasks.

Physical Requirements
1. Ability to sit for extended periods of time.
2. Ability to open and close file drawers.
3. Ability to lift and carry up to 15 pounds.
4. Ability to file documents.
5. Ability to type data into a computer.

Other Requirements
1. Must have access to reliable transportation.
2. Must be willing and able to travel up to 25% of the time with occasional overnight travel.
3. Must be willing and able to attend city council, planning commission, neighborhood, community and other meetings scheduled in the evening.

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