Skid Row Housing Trust (the “Trust”) is a nationally recognized nonprofit corporation that produces, preserves, and operates supportive housing in and around downtown Los Angeles. The Trust serves the poorest and most vulnerable people in Los Angeles, including homeless individuals and those who may become homeless. Our VISION is that all residents of downtown Los Angeles have a home that is affordable and safe.
The Trust develops, manages and operates affordable homes for the homeless in the Los Angeles area. The Trust is a 501(c)(3) nonprofit organization that owns and operates 26 properties and is developing two properties that will be in operation in the next two years. Most of the properties receive subsidies under the Section 8 program through the Housing Authority of the City of Los Angeles.
Working under the direction of the Real Estate Development Director, the Project Manager works as part of a team and is responsible for the development of new and existing permanent supportive housing, affordable housing, and community development projects in Los Angeles and the surrounding area; overseeing projects from acquisition and entitlements, through design and construction and initial occupancy, and handing the project off once it is in operations. The essential duties of this position include, but are not limited to, the following:
- Manage all phases of development for new construction projects including conducting feasibility analysis, obtaining entitlement and local approvals, developing and maintaining proformas, securing all financing, and managing the design and construction phases;
- Manage all phases of development for recapitalization projects including all refinancing any existing loans, developing rehabilitation scope, creating property budget and financing plan, securing all necessary financing and local approvals, and managing the construction and relocation process;
- Conduct all physical, financial and operational due diligence on properties during the acquisition, predevelopment and feasibility phases, working with various consultants to obtain necessary reports and studies;
- Obtain any necessary Senior Management and Board of Directors’ approvals for projects;
- Coordinate with internal departments (asset management, property management, accounting, and resident programs) before and during and after construction to ensure smooth tenant relations and transition to operations;
- Serve as a contact person on project-related issues for all internal and external parties involved with the project, including internal departments, public and private lenders, local planning and building and safety departments, community groups and joint-venture partners;
- Manage all aspects of project financing: Conduct financial feasibility analysis and identify funding sources and strategies, prepare all public and private loan applications and documents, grant and subsidy applications and proposals to various private and public funding agencies for acquisition, predevelopment, construction and permanent financing as well as rental subsidies, secure commitments from any necessary funding sources, and manage and coordinate all aspects of acquisition, construction and permanent financing escrow closings;
- Manage the negotiation with lenders, investors, sellers, architects, contractors and consultants on legal agreements, loan documents and contracts;
- Manage architects and contractors during design and construction phases, oversee preparation of construction bidding and contract materials, and select and supervise all third party consultants;
- Coordinate transition to operations, monitor property management and resident programs and all related-parties during tenant selection and lease up;
- Obtain all necessary approvals and permits from local planning and building and safety departments in order to begin construction, and represent the owner at all construction meetings and coordinate with local utility companies;
- Attend public agency workshops regarding financing and design requirements, as applicable to specific projects;
- Stay informed on local, regional, and state politics that could impact development projects;
- Provide guidance to Project Managers and Assistant Project Managers;
- Perform other duties as assigned by the Real Estate Development Director; and
- Perform all duties with a high level of execution and with very little direction.
- A Master’s degree in a related field and one (1) or more years of experience in real estate/housing development, finance, urban planning, architecture or a related field; OR a Bachelor’s degree and two (2) or more years’ experience in real estate/housing development, finance, urban planning, architecture or a related field;
- Experience managing or assisting in the management of the entire development process of a typical affordable housing development, preferably with experience in permanent supportive housing;
- Knowledge of affordable housing and real estate development and finance including key aspects such as land use and entitlement, property due diligence and acquisition, and site planning and design, with preference for experience with affordable housing transactions, which include public subsidies, low income housing tax credits and tax exempt bonds;
- Interest in permanent supportive housing and passion for finding solutions to ending homelessness;
- Understanding of local government financing and design approval processes;
- Ability to take initiative and think critically under pressure with the goal of finding creative solutions to complex and technical problems;
- Must be able to work well with employees and colleagues at all levels, with an entrepreneurial and creative approach to problem-solving in the field of real estate development, and an enthusiasm and team building spirit;
- Ability to effectively engage and present to community representatives, including persons with diverse economic and educational backgrounds, in the real estate and community development process;
- Strong ability to multitask and manage multiple projects at once;
- Well-organized, detail oriented, and excellent analytical skills;
- Strong problems solving skills, good client and public presentation skills, and excellent oral and written communication skills;
- Ability to read, analyze, and interpret financial reports, legal documents, and physical and operational assessments;
- In-depth understanding of and ability to prepare and update affordable housing development financial proformas;
- Preferably have managed or assisted with the management of at least two (2) different affordable housing funding applications and at least one (1) escrow closing (preferably a construction closings) for developments utilizing LIHTC funding;
- Proficient in Microsoft Office applications such as Outlook, Word, Excel and PowerPoint, and the ability to learn proper use of various software programs, as needed;
- Proof of ability to work in the United States. Must have and maintain a valid California driver's license and auto insurance at all times and have the availability of an insured vehicle to travel within the organization’s service area.
Compensation: Salary is commensurate with qualifications and experience.
Company-paid Benefits include: Two (2) weeks annual vacation accrual, nine (9) paid holidays, ten (10) sick days accrual, company-paid health, dental and vision insurance, STD, LTD, and life insurance.
Voluntary Benefits include: Additional life insurance, critical and accidental insurance, discounted Metro TAP card, and eligibility to participate in 403(b) plan.
Send cover letter and resume to: firstname.lastname@example.org (Please reference PM-RED-SCANPH in your subject line)
Skid Row Housing Trust is an equal-opportunity employer. Women and Minorities are encouraged to apply.