Position is for a full time Director of Business Development - RED to work in the EAH Corporate office in San Rafael, CA. Qualified candidates will be responsible for managing initial aspects of acquisition activities, including the evaluation of potential acquisition projects, marketing EAH, and negotiating terms of purchase and sale agreements. Candidate will be responsible for initiating acquisition opportunities consistent with the company’s mission and strategic plan and proposing new opportunities to the executive management team. Qualified candidate will have prior success in the development of affordable housing using LIHTC or other related programs. Master’s Degree in Business, Finance, Real Estate, Civil Engineering or other related field highly desirable.
EAH Housing has been developing, managing and promoting affordable housing since 1968. We are one of the largest and most respected nonprofit housing development and management organizations in the western United States. With a staff of over 450, EAH develops multifamily communities, manages over 100 properties in California and Hawaii, and plays a leadership role in local, regional and national housing advocacy efforts.
At EAH, we put our core values into action on a daily basis. We recognize that training is a critical investment in the success of our employees and in the continued excellence of EAH. Please visit our website to learn more about our culture and read employee comments to learn more about what it would be like to work at EAH.
For immediate consideration please apply to DIREC02378 on our website at www.eahhousing.org/careers
Responsible for managing initial aspects of acquisition activities, including the evaluation of potential acquisition projects, marketing EAH, and negotiating terms of purchase and sale agreements. Responsible for initiating acquisition opportunities consistent with the company’s mission and strategic plan and proposing new opportunities to the executive management team.
- Drives and researches sites in EAH’s opportunity cities. Researches ownership and title information on high prospect sites and cultivate relationships with property owners.
- Performs all basic due diligence work on potential sites deemed generally viable for development purposes. Due diligence review includes reviewing preliminary title reports, evaluating infrastructure review with local public works and building officials, estimating market values through comparable sales analysis prior to appraisal, and assessing ability to obtain entitlements for contemplated projects in the context of local general plan and zoning designations.
- Creates and analyzes preliminary financial projections with assistance of Real Estate Development staff for proposed transactions; Compiles comprehensive deal analysis packages and assesses risk associated with any acquisition for review by supervisor and Executive Team; creates a development and/or acquisition strategy.
- Coordinates with project development staff on basic financial terms and conditions viable for purchase and sale agreements that are specific to the community and related subsidy environment for affordable housing developments.
- Reports to Chief Real Estate Development Offier with regard to the financing of each new deal, including revenue stream and developer’s fees and development checklists approvals.
- Establishes memorandums of understanding, letters of intent, purchase and sale agreements, or other tools to formalize relationships with partners, but will not have signature authority.
- Assists in negotiations for the purchase of property and terms of financing.
- Works with supervisor to negotiate terms and specific language to be included in purchase and sale agreements as well as monitoring key performance dates under agreements once a site is under contract to purchase.
- Manages seller relationship through closing.
- Obtains public approval by developing and implementing community acceptance strategies; giving public presentations on behalf of the project.
- On select projects, coordinates geo-technical and environmental analysis, planning and building code research, community planning, entitlements, and market analysis.
- Ensures that local approvals and neighborhood acceptance of proposed housing development projects occur, including submitting use applications, and attendance at hearings and neighborhood meetings. Obtains public approval by developing and implementing community acceptance strategies; giving public presentations on behalf of the project.
- Insures efficient transition of purchased assets to Real Estate Development Department.
- Meets with Executive Team as well as VP of Real Estate Development Department on regular basis to coordinate all acquisition activities.
- Works with Executive Team and President to develop annual goals and budget for acquisitions. Develops organization’s overall acquisition strategy in coordination with other departments and executive staff.
- Maintains positive working relationships with lenders and grant sources.
- In conjunction with the Real Estate Development Department and President, prepares and makes public presentations to city planning commissions and city councils related to various EAH projects. Also makes presentation in other public venues and to the EAH Board of Directors, as necessary.
- Identifies and cultivates relationships with for-profit developers.
- Works with other organizations within the housing development, healthcare, and religious communities to create opportunities and support for low-income housing development.
- Assists in identifying and evaluating new financial partners.
- Represents EAH at targeted industry conferences and seminars.
- Serves as organizational representative to housing organizations, public agencies, financial institutions, and community meetings. Advocates for affordable housing by giving public presentations, participating in community and public policy groups; attending conferences, and staying informed of public policies affecting affordable housing.
- Attends mandatory training.
- Actively participates in EAH’s Injury and Illness Prevention Plan.
- Regular and predictable attendance.
- Other duties as assigned.
- Detail-oriented and demonstrates exceptional critical thinking and judgment skills and the ability to conceptualize and strategize.
- Demonstrated ability to multi-task while working toward deadlines and establish appropriate work priorities
- Excellent written and verbal communication skills. This includes being able to communicate the nuances of affordable housing in layman’s terms.
- Ability to see both specific situations as well as the ‘big picture’ is essential.
- Ability to read, analyze and interpret complex documents.
- Demonstrates understanding of development process, programs and schedules related to specific projects.
- Demonstrates a high degree of initiative, responsibility, and accountability.
- Demonstrated ability to work independently and congenially with a wide variety of individuals, community based organizations and governmental entities. Personable; work with/through a variety of internal and external stakeholders. A self-starter.
- Possesses high level of proficiency in preparation, analysis and interpretation of financial spreadsheets (Excel) for real estate projects; proficiency in MS Office Suite and Outlook, including MS Project.
- Ability to work under pressure, and adjust priorities to changing circumstances
- Demonstrates exceptional analytical, research, acquisition and/or project management capabilities.
- Ability to effectively represent self and the organization in public hearings and community meetings.
- Understanding of cities as organizations and how decisions are made.
- Comfortable driving and navigating high priority sites and cities.
- Entrepreneurial approach to finding, evaluating, and securing real estate opportunities.
- Commitment to finding innovative ways of creating affordable housing.
- Ability to work through ambiguity to find answers. Creativity in approach to challenges and obstacles; ability to create opportunities and effectively problem solve.
- Through understanding of both the 9% and 4% Low Income Housing Tax Credit Program and how to leverage those sources in an affordable housing development
- Ability to stay informed on regulations related to other local and regional and national funding sources, including but not limited to HOME, CDBG, Local Bond Initiatives, Veteran’s and other funding for special needs housing.
May supervise one or more Analysts or department staff. Hires, trains, supervises, motivates and develops staff; assures staff conforms to organizational policies and procedures and government regulations; provides minimal day-to-day guidance and oversight of subordinates; actively works to promote and recognize performance; ensures department performance appraisals are completed effectively and as scheduled.
Bachelor’s degree in Real Estate, Finance, Civil Engineering; Business, or related field. At least 3-5 years of direct experience in residential multi-family development. An emphasis on income restricted affordable housing, including multi-family developments financed with Low Income Housing Tax Credits strongly preferred. Background in planning, zoning, and general entitlements. 2 years management/supervisory experience with proven leadership abilities.
DESIRABLE ADDITIONAL QUALIFICATIONS
Master’s Degree in Business, Finance, Real Estate, Civil Engineering, or other related field Success in development of affordable housing using Low Income Housing Tax Credits or other related programs. Ability to create a draft feasibility analysis of proposed site which includes zoning, entitlement risk, environmental risk, and predevelopment financing risk.
CRIMINAL BACKGROUND CHECK REQUIREMENTS
EAH Housing conducts criminal background checks on all candidates who have received a conditional job offer. Once you have receive such an offer, you will be required to submit and pass our criminal background requirements. Please be advised that certain roles may also require fingerprinting due to legal requirements. If onsite housing is a requirement of the position, any household members over 18 years of age who will be living onsite with the candidate must also undergo a criminal background check and tenant screening. Satisfactory completion of background check and fingerprinting requirements is a requirement of employment with EAH.
We offer a comprehensive benefits package that includes medical, dental, vision, disability and life insurance, as well as a 403(b) retirement plan with company match. We also offer a generous vacation accrual, holiday schedule and work schedule flexibility.
EAH Housing is an AA/EEO/Veterans/Disabled Employer. CA BRE #00853495 | HI RB-16985