VP Development

About the role

The Vice President of Development works closely with the regional development team and home office, taking responsibility for the acquisition, financing, and development of affordable housing communities. The position will be responsible for all predevelopment due diligence associated with each project and will be supported by development, finance, design, legal and construction professionals, as well as administrative platforms.

Responsibilities

• Direct oversight and coordination of affordable housing and workforce development efforts
• Support the Regional Vice President in the early stages of the development process including business development, community relations and building partnerships
• Collaborate with partners, agencies, and funders to identify development opportunities that align with the development strategy set forth by the President of Michaels Residential
• Coordinate the general contractor, attorneys, appraisers, surveyors, “green” consultants, environmental consultants, auditors and other development professionals to advance development projects
• Create and present project materials necessary to secure Michaels Investment Committee (“IC”) approval for project acceptance to proceed and approval of predevelopment funds
• Manage consultant contracts, and approve billing of consultant invoices through predevelopment and during the construction draw process
• Maintain the project timeline and ensure appropriate reporting of any foreseen delays
• Takes the lead on all aspects of the development process overseeing development team members including overall project design, entitlements, permitting, construction, finance, lease up, sale, compliance, etc.
• Host regular project meetings that they lead through closing, and participate, at least weekly, during construction and lease up
• Coordinate review and input from partner agencies and internal constituents such as Property/Asset Management and Finance teams at appropriate milestones and appropriately influences the development process
• Reviews and negotiates terms and conditions for various development-related agreements with project attorneys, including but not limited to architect and general contractor contracts, other contractor/consultant contracts, funder loan/equity documents, etc.
• Collaborates with internal partners related to construction administration activities, including: monitoring construction progress and quality, coordinating funder contributions, administering the development budget and coordinating contractor payments
• Ensures effective support and performance of Michaels property management and lease-up on development projects
• Researches best model housing development practices and makes recommendations to senior leadership team on incorporation of the same
• Participates in conferences, workshops and trainings geared toward improving the employees' and organization's effectiveness and quality of work. Participation includes presenting material to internal and external audiences
• Develops strong working relationships with other Michaels Organization companies and functions

Qualifications

• Five to seven years of real estate project finance, project management, or quantitative finance experience
• Preference for candidates that have worked for real estate developers or experience with underwriting and closing practices of land/buildings and financing in multifamily affordable housing
• An undergraduate degree is required; studies in business, urban planning/community development, public administration finance, accounting, economics, or real estate preferred
• An advanced degree (e.g., MBA or Masters in Real Estate or City Planning) is highly desirable, but not required

Skills and Abilities

• Experienced with Low Income Housing Tax Credits (LIHTC) and other national, state and local affordable and workforce-housing debt, grant and subsidy programs
• Extensive knowledge of capital markets and equity programs including pre-development funding, tax credit equity, permanent debt programs and principal participants in affordable housing capital markets
• Natural ability to research the market and fully understand how to identify development projects and partnership opportunities
• Knowledge of the geographic market and targeted expansion markets; including competitors, key staff at housing agencies and programs, key consultants, experienced designers, reputable contractors, and demographic and employer trends
• Excellent project management and development process skills including - creating project plans; coordinating projects; communicating changes and progress; completing projects on time and budget; managing project team activities; organizing or scheduling interns and their tasks; developing realistic action plans
• Technical Skills - knowledge of architectural and engineering drawings, site planning, architectural design, government entitlements such as zoning, construction techniques, real estate law, and negotiations
• Dynamic, self-starter who is inspired by new, exciting development activity with a growing company
• Proficiency in technical writing, regular reporting, and Microsoft Office/Adobe Acrobat programs
• Excellent inter-personal skills and networking abilities

Benefits

We know Michaels’ promise of lifting lives starts with our teammates, so making sure every single teammate is happy, healthy, and set up for a successful future is important to us. As part of our team, you will enjoy a competitive wage, a comprehensive benefit package which includes Medical, Dental, Vision, prescription, etc., generous paid time off, a 401 (k) plan with a company match, and so much more. We believe in education – and in taking care of our own – so as an added incentive your children will be able to apply for the Michaels Employee Scholarship Program. Help make the world a better place in a team-oriented environment. Grow with our organization through various professional development opportunities. Collaborate and thrive in a company culture where all are welcome Michaels teammates make a difference in the lives of residents, colleagues, and the communities where we live and work every day. To learn more about the total rewards we offer please visit our website. Come join our team. You’re going to love it here!