Position Title: Director of Real Estate Development                Department:   Housing

Reports to: Executive Director                                                            Status: Full-Time        

This position is responsible for implementing and managing Norris Square Civic Association's Real Estate Development Program, including all acquisition, new construction and rehabilitation activities necessary to successfully meet the corporation's neighborhood revitalization objectives. In carrying out these duties, the Director will be responsible for recommending and managing all collaborative relationships and more formal joint-venture partnerships with other nonprofit or for-profit development organizations to complete specific real estate projects as outlined in NSCA's recently completed Project Development Plan.

 

The responsibilities associated with each program activity include, but are not limited to the following activities:

 

·  Completing inspections, developing work specifications covering all required improvements, and estimating the costs of completing the work specifications.  

·  Prepare development pro forma (sources and uses) modeling the financial projections and requirements for all large-scale projects involving acquisition, substantial rehab and sale or substantial rehab and lease. 

·  Prepare sales pro forma modeling the required debt, subsidy and closing cost requirements for each home to determine income affordability and market feasibility. 

·  Prepare operating pro forma modeling each rental project's revenue, expense, debt service and net cash flow projections.  

·  Performing or facilitating the completion of all title searches and phase 1 environmental assessments of all properties considered as candidates for acquisition and substantial rehabilitation. 

·  Negotiating the purchase price and securing site control of all vacant houses slated for substantial rehabilitation.  

·  Securing financing and subsidy commitments to offset all hard and soft costs.  

·  Soliciting competitive bids from general contractors or subcontractors for all construction work.  

·  Soliciting competitive prices for all soft cost items, including hazard and casualty insurance, title insurance, security, etc…

·  Supervise the rehabilitation work performed by each trade (if NSCA functions as the construction manager and subcontracts the work) or monitor the performance of the rehabilitation work by the general contractor.

·  Manage the payout, budget, punch-list and final inspection phases of each project.

·  Manage the resale process to ensure disposition of each completed home to income-eligible and mortgage able home-buyers.

·  Coordinate the lease-up of all completed rental properties with the Property Management Division of NSCA to ensure occupancy to income-eligible tenants. 

·  Performing or facilitating the completion of all title searches and phase 1 environmental assessment of all vacant land parcels and buildings slated for demolition.

·  Negotiating the purchase price and securing site control of all vacant land comprising the development site.

·  Prepare development pro forma (sources and uses) modeling the financial projections and requirements for the building and sale of single-family homes.

·  Prepare sales pro forma modeling the required debt, subsidy and closing cost requirements for each home to determine income affordability and market feasibility.

·  Prepare operating pro forma modeling each rental project's revenue, expense, debt service and net cash flow projections.

·  Securing and managing the services of architects, engineers and builders as may by appropriate to develop detailed site plans, units design plans, infrastructure needs and cost estimates associated with each component.

·  Represent NSCA in obtaining public plan approvals for zoning, lot consolidations, building permits and other required authorization.

·  Submit applications to secure all required public and private financing to support hard and soft costs for each project.

·  Obtain competitive bids from general contractors for all construction work.

·  Obtain competitive prices for all soft costs items, including hazard and casualty insurance, title insurance, security, etc.

·  Monitor the performance of the construction work by the general contractor.

·  Manage the payout, budget, punch-list and final inspection phases of each project.

·  Manage the resale process to ensure disposition of each completed home to income eligible and mortgage able home-buyers.

·  Coordinate the lease-up of all completed rental properties with the Property Management Division of NSCA to ensure occupancy to income-eligible tenants.

 

·  Coordinate all real estate development activities with the appropriate develop partners,       funding agencies, the prospective homeowners, contractors and NSCA staff and consultants.  

·   Establish and maintain effective working relationships with the appropriate funding agencies, the homeowner, contractors and community residents.  

·  Coordinate the work activities of the Manager of Housing Rehabilitation, Community Organizers, and the Housing Counselors to qualify eligible owner occupants and prospective new home buyers for all available financing, including low-interest loan and grants.  

·  Coordinate all rental housing development activities with NSCA's Property Management Division to ensure income-eligible and responsible tenants are placed in the appropriate sized units and to ensure that public rental subsidies are made available on a project or tenant basis.  

·  Tract all projects to ensure that each stays within their established budget.  

·  Promote all housing development programs and the services offered by NSCA to the surrounding community.

 

 

·  Undergraduate Degree in related field or equivalent training.

 

·  Three years' experience in managing substantial rehabilitation projects and three years of experience managing housing construction projects in an urban context.

·  Working knowledge of local or federally-funded home repair programs.  

 

·  Strong managerial and verbal and written communications skills.

 

·  Ability to work flexible schedule to be accessible to the schedules of clients.

 

·  Ability to work effectively within a team environment.

 

·  Other duties as assigned by the Executive Director

 

·        Ability to lift up to 25 pounds

·        Ability to climb steps

·        Ability to perform site visits

 

Salary Range:    $50,000 - $75,000                 

 

Contact:

 

Rafael Rodriguez

Human Resource Specialist

Norris Square Civic Association

149 W. Susquehanna Avenue

Philadelphia, PA 19122

Work:(215)426-8723 ext.25

Fax:(215)426-5822

rafrod@nscaphila.org

 

*** NSCA is an Equal Opportunity Employer. Neighborhood Residents are given a preference in all hiring. ***