HPD’s Division of New Construction Finance (NCF) is part of the Office of Development which oversees implementation of the Housing New York plan to produce 200,000 units of affordable housing in New York City. NCF, in collaboration with other government partners, will create approximately 4,000 units of new housing each year for extremely low to middle income households. NCF administers six loan programs: 1) Extreme Low & Low-Income Affordability (ELLA) Program,
2) the Mixed Income Program (Mix-and-Match), 3) Mixed-Middle Income (M2) Program, 4) Neighborhood Construction Program (NCP), 5) the New Infill Homeownership Opportunities Program (NIHOP), and 6) Open Door, Multi-family Homeownership for Affordable Coops and Condos Program.
HPD’s Division of New Construction Finance seeks to hire a Project Manager for its Multi-Family New Construction Programs. This dynamic division finances the new construction for affordable housing through its loan programs for extreme low, low income, middle income and mixed income affordable housing.
Key Responsibilities
As a Project Manager, under general supervision of the Directors, manage a portfolio of projects from predevelopment through construction completion. The Project Manager works with other divisions within HPD's Development Office to underwrite loans and manage projects through closing, construction and conversion.
Duties include:
• Review and analyze project proposals and budgets
• Perform financial analysis and underwriting
• Manage, monitor, and track all aspects of projects from predevelopment through commitment, loan closing and construction
• Define and negotiate business terms to advance HPD's goals and policy objectives
• Serve as a liaison to external partners, including for-profit and non-profit developers, banks, tax credit syndicators and investors, general contractors, and other government agencies.
• Support the issuance of Requests for Proposals (RFPs) by performing financial modeling of potential affordability scenarios.
• Perform financial feasibility review of RFP responses and make recommendations to senior staff.
• Prepare, maintain, and circulate written correspondences, documents, reports, and files regarding all assigned projects.
In addition to assigned pre-closing workloads, each project manager has additional responsibilities for projects in other processing phases; these may total approximately 25 - 30 projects at any given time:
• Review potential new projects in advance of moving to active pipeline status, and work on projects that ultimately drop from active consideration.
• Monitor progress and performing troubleshooting duties for projects in construction.
• Provide analysis and other services for projects pending conversion to permanent financing.
• Assist with rent-up or other asset management issues.
Minimum Qual Requirements
1. A baccalaureate degree from an accredited college or university and two years of full-time, satisfactory professional experience in planning, analysis, coordination and/or development of housing projects or programs; or
2. Graduate study from an accredited college or university in the field of urban studies, city planning, real estate development, public administration, public policy, finance, community organization, architecture, or urban design, may be substituted for up to one year of the required experience on the basis of 30 credits for one year.
However, all candidates must have at least a baccalaureate degree and one year of the experience described in "1" above.
Preferred Skills
• Excellent verbal and written communication and strong interpersonal skills, strong analytical, organizational, and quantitative skills.
• Advanced experience utilizing and developing complex Excel spreadsheets and presentation software is strongly preferred.
• Demonstrated ability to meet deadlines and manage multiple projects in a timely manner and to be a team player.
• Background in or knowledge of real estate finance and/or program implementation experience, preferred.
• Preference will be given to candidates with experience working for or with government agencies and government programs related to affordable housing development.
• Candidates with Masters in Urban Planning, Real Estate Finance, Business Administration, Public Administration or related fields are strongly preferred.
To Apply
1) Project Manager, Multi- Family New Construction Programs Position 1
2) Project Manager, Multi- Family New Construction Programs Position 2
Work Location
100 Gold Street
Residency Requirement
New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.
POSTING DATE: 12/01/17 POST UNTIL: 12/16/17