Director - Affordable Housing Development
Real Estate Acquisition | Beverly Hills, CA | Full Time
This position can be based in Beverly Hills, CA or Dallas, TX.
Post Investment Group (“Post”) is a Beverly Hills, California based privately-held holding company with a diverse set of business interests. We invest both passively and actively. As active investors we take a controlling interest in companies, often partnering with seasoned entrepreneurs helping them realize their vision and achieve their potential. As a vertically integrated company, we have an operations team with in-house legal, accounting, finance, technology, marketing and human resource capabilities. Our business interests are predominantly focused in the following areas: Real Estate, Real Estate Services, Health and Wellness, and Consumer Products.
We are seeking a highly qualified Director of Affordable Housing Development to join our existing in-house real estate team. This is a leadership opportunity to join an established multifamily investment company, that specializes in the acquisition of existing affordable housing/LIHTC properties. The company is a highly entrepreneurial, rapidly growing organization with a strong track record and is well respected within the industry.
This opportunity entails building out the company’s LIHTC development platform, consisting of 4% and 9% LIHTC developments including both ground up and acquisition rehab projects. This position would report directly to the Executive Vice President and the CEO.
The ideal candidate has a minimum of 4 years of experience of LIHTC Development – specifically ground up development. Experience with an existing LIHTC development company is a must. The individual must be able to identify and close prospective LIHTC Developments with the support of the company’s inhouse legal, accounting, asset management, property management and finance/acquisition team.
- Establish Site Selection: Identify viable development sites or acquisition rehab candidates
- Underwrite the project and present to the investment committee for approval complete with a financial proforma, development budget, sources and uses
- Due Diligence and Underwriting: complete market analysis, determine the financial feasibility of the project, review entitlements
- Complete applications for Tax Credits with the state agencies
- Negotiate the acquisition with assistance from the legal department
- Procure the financing and tax credit equity with assistance from the acquisition/finance team
- Construction Management: review all construction contracts with the assistance of our legal team, approve pay orders with the lender
- Work with the architect on design and construction
- Lease Up: Work with our asset management team to lease up and stabilize the property
- Work closely with the acquisition, legal, accounting, and asset management teams
- Has knowledge of all costs that go into a LIHTC Development including soft costs and construction costs
- Experience overseeing development projects from acquisition to stabilization
- Experience putting together tax credit applications with the state agencies
- Experience reading and reviewing Limited Partnership Agreements
- Entrepreneurial mindset and can source deals on their own
- Work with Housing Authorities to get real estate tax exemptions
- Has an existing network of land brokers to find developable land
- Experience with 4% or 9% LIHTC developments in any of the following states is a plus: Texas / Colorado / Utah / Washington / Oregon / California / Nevada
The Company is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.