Services for the UnderServed (SUS) is a New York-based nonprofit organization that provides housing and support services to 25,000 individuals and their families living in New York City and Long Island. SUS believes every New Yorker has the right to lead a life of purpose.
For more than 35 years, SUS has been transforming this belief into reality by working as an advocate for people with life circumstances marked by intellectual/developmental disability, behavioral health challenges, poverty, & histories of incarceration and/or trauma.
We drive scalable solutions to transform the lives of people with disabilities, people in poverty and people facing homelessness: solutions that contribute to righting societal imbalances. Our commitment to continuous quality improvement impacts the lives of our clients and communities while contributing to the development of our employees.
The Director will have the expertise and experience in affordable housing development to manage a small team of real estate professionals and oversee projects from land acquisition, joint development negotiation, pre-development financing and design development, public approvals, ULURP, construction financing, construction management, building opening, leasing and converting to permanent financing. The work will focus on new construction of supportive and affordable housing both independently and with various development partners. The Director will also oversee the recapitalization and rehabilitation of a portfolio 5-7 existing LIHTC properties which will be going through the Year 15 exit of their investors.
- Assist the SVP in identifying new joint ventures and potential land acquisitions for permanent housing development;
- Research and identify funding sources and develop financing strategies to develop housing;
- Stand in for SVP as necessary at internal meetings, meetings with public officials, etc.;
- Work with SUS service programs to select appropriate transactions, service funding mechanisms (ESHI v. NYC 15) and deal structures;
- Develop pro forma capital development and operating budgets and financing applications for HPD, HDC, HCR, HFA, HHAP, FHLB, HUD, which incorporate many different sources of financing;
- Coordinate the submission of due diligence to government agencies, lenders and investors;
- Coordinate and lead SUS responses to Requests for Proposals and Requests for Qualifications;
- Coordinate construction loan closings, cost certifications, permanent loan closing process and 8609’s;
- Work with service program teams and property management to coordinate the opening of new buildings and various policies and procedures related thereto;
- Supervise and/or serve as project manager and submit requisitions during construction;
- Complete paperwork and submissions required for conversion to permanent financing and receipt of 8609;
- Assist SVP and Asset Management group in tracking developer fee receipts and milestones;
- Assist SVP, CFO and Asset Management group in evaluating property performance and implementing changes necessary to improve property performance; and
- Assist SVP in developing appropriate housing development metrics and reporting on same to SUS executive team.
Essential Skills, Experience, Licensure, Certification:
- 10+ years of excellent performance developing affordable and/or supportive housing receiving low income housing tax credits (LIHTC) and various rental subsidies (Section 8, NY/NY III, ESHI, NYC 15);
- Bachelor’s degree (Masters in a related field is preferred);
- Passionate about the SUS mission generally and provision of supportive housing in particular;
- Ability to work independently or as part of a team
- Understanding of low income housing tax credits (9%) and 4% (bond financing);
- Highly organized, detail oriented and self-motivated;
- Ability to manage other experienced professionals in a high paced dynamic atmosphere;
- Ability to generate pro forma development and operating budgets utilizing Microsoft Excel; and
- Excellent written, oral and email communication skills.