Director of Real Estate Development and Asset Management

Oakland, California, United States | Administration | Full-time

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Bay Area Community Services is a non-profit, community-based agency serving Alameda, Contra Costa, Sacramento, Monterey and Solano Counties by providing a comprehensive array of mental health and housing services. 

The Director of Real Estate Development and Asset Management is part of the leadership team, which will lead the acquisition, development, and management of a variety of complex multi-family and single-family housing development projects throughout the greater Bay Area. This position is responsible for overseeing day-to-day operations of the team, including any contractors and/or vendors, providing guidance to maintain a high level of quality in accordance with BACS development standards and industry best practices. 

Reporting to the CSIO and working in close coordination with the CEO, the Director will collaborate with other members of the administrations team to streamline, implement and maintain processes and internal systems for reporting, data collection and staff training. The Director will oversee the financial management of the BACS Housing Corp, including annual operating budget and capital plan management, monitoring property operation statements and maintenance reports, and leading all compliance and reporting efforts, including relationships with lenders and investors. The ideal candidate will have significant experience developing affordable single and multi-family housing and manage all aspects of the real estate development process while working with a diverse group of internal and external stakeholders.   This is a full-time, exempt, salaried position.  

DUTIES AND RESPONSIBILITIES (Essential Functions) 

Acquisitions and Development:

  • Outreach and vetting of potential projects, including financial feasibility assessment.
  • Oversee all aspects of acquisition and rehab (where needed) of new ownership and rental projects, including:
    • Acquisition due diligence and negotiations, securing financing, subsidies, and bridge financing in non-LIHTC projects.
    • Conceptualization of project structure (legal, ownership type/structure, development phases, permanent financing/capital stack).
    • Securing project entitlements.
    • Creating and controlling project development budgets with support from Project Management staff.
    • Pre-development and rehab process: supervising/collaborating with relevant project managers in all phases of work through to close-out.

Asset Management:

  • Coordinate with Property Management staff to implement and ensure process to maintain physical and financial health of all properties, including reviewing periodic reports, budgets and financial statements.
  • Supervise all Property Management vendor contracts and manage properties held for future development.
  • Serve as lead on securing financing and refinancing for mortgages coming due, for rehab work etc.; taking over responsibility for in-portfolio property rehabs.

 Financial and Budgeting Oversight

  • Closely monitor and routinely report on operational and financial performance of portfolio as it relates to budgets, BACS goals,and lender and investor expectations.
  • Work with leadership team to develop Annual Operating Budgets for properties.
  • Work with team to develop 5-year Capital and Real Estate Development Plan.
  • Review Monthly Maintenance Report and review/process replacement reserve withdrawal requests.
  • Approve invoices up to approved amounts at properties.
  • Support oversight of Project Manager at properties on projects as assigned.
  • Represent BACS in Public Meetings.

Compliance and Reporting: 

  • Develop and maintain working relationships with lenders and investors.
  • Maintain all relevant records for property portfolio.
  • Manage reporting process to all lenders, investors, etc.
  • Work with Director of Finance and Administration on Annual Financial Audits.

Exemptions Reposition and Acquisition: 

  • Ensure filing of all Annual Welfare Exemptions.
  • Manage reposition and refinance processes for portfolio as needed.

 COMPETENCIES:

  • Ability to work well in interdisciplinary teams and provide mutual support to property management.
  • Ability to adapt to dynamic situations and to skillfully shift priorities to respond to urgent situations.
  • Ability to work independently and take initiative to meet critical deadlines and to pro-actively use creative problem-solving in a challenging financing and regulatory landscape.
  • Detail oriented, including experience with record-keeping, using databases, spreadsheets and electronic filing systems.

QUALIFICATIONS: 

  • Bachelor's degree in accounting, business, or relevant subject required. Master’s degree preferred.
  • 5 - 20+ years’ experience in affordable housing developments in increasingly responsible roles, preferably in the nonprofit context, and particularly with small (1 – 20 unit) acquisition/rehab of occupied properties.
  • Strong background in affordable housing finance, subsidy programs, and innovative subsidy/finance solutions for project capital.
  • Experience working with residents of diverse backgrounds with deep respect (valuing residents’ perspective and experience).
  • Experience supervising and collaborating with project-management, property management, resident-management staff, contractors and vendors.
  • Having a RE broker’s license is a bonus, or having an agent’s license, with an interest in securing broker’s.
  • Demonstrated capacity leading diverse and multi-disciplinary teams toward a common goal required.

  • Healthcare/vulnerable client employer, verified COVID vaccination required.

PHYSICAL REQUIREMENTS:

The position requires regularly sitting at a desk, with occasional standing and walking and frequent driving. Frequent computer use is required. Lifting is required occasionally, of no more than 20 lbs. at a time. The position requires the ability to see, hear and speak.

ADDITIONAL REQUIREMENTS: This position requires a valid California driver’s license, personal vehicle, and proof of personal vehicle insurance coverage and the ability to drive for work. DMV printout required. 

BENEFITS/PERKS:

  • $130,000 - $150,000/year DOE.
  • Fully paid medical, dental, vision, and life insurance coverage for employees and children.
  • 32 days off (PTO/Holiday), increasing with tenure, includes your birthday off. 
  • 403b with BACS matching contribution.
  • $3,000 per year student loan, tuition or CEUs after 1 year of service. Up to $15,000 over 5 years.
  • Clinical supervision hours towards licensure*
  • One month PAID sabbatical after 8 Years – not charging PTO.
  • Free iPhone with unlimited data for personal/professional use + laptop for easy mobility*.
  • Significant internal growth opportunities.

 * Most direct service positions

HOW TO APPLY:

Submit a resume with a cover letter highlighting your relevant experience.

BACS OVERVIEW:

Bay Area Community Services is a CARF accredited non-profit, community-based agency celebrating 65 years of serving Alameda and Solano Counties by providing mental health and social services. BACS’ mission is to uplift under-served individuals and their families by doing whatever it takes. We are proud to be one of the leading agencies producing real outcomes to tough social problems. BACS owes its reputation as an innovator to our innovative and entrepreneurial staff.  We are seeking individuals who want to transform clinical practice to be client-centered and effective in the field and who want to lead empowered teams to meet goals.    

BAY AREA COMMUNITY SERVICES VALUES DIVERSITY AND IS AN EQUAL OPPORTUNITY EMPLOYER.