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Job Description
Agency Description:
The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners.
Your Team:
The Office of Development leads the agency’s effort to create or preserve 300,000 units of affordable housing by 2026. This is performed in close collaboration with HPD colleagues, other City and state agencies, and the New York City Housing Development Corporation (HDC).
The Office of Development is composed of seven (7) divisions:
- Division of Building & Land Development Services (BLDS)
- Division of Housing Incentives
- Division of Inclusionary Housing
- Division of New Construction Finance
- Division of Preservation Finance
- Division of Property Disposition and Finance
- Division of Special Needs Housing
Your Impact:
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 300,000 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 five loan programs: 1) Extremely Low & Low-Income Affordability (ELLA) Program,
2) the Mixed Income Program (Mix-and-Match), 3) Neighborhood Construction Program (NCP), 4) Open Door Program, and the 5) HomeFirst, Down Payment Assistance to first-time homebuyers.
HPD’s Division of New Construction Finance seeks to hire two (2) Senior Project Manager for its Multi-Family New
Construction (MFNC) Programs, which includes ELLA and Mixed Income (Mix-and-Match) Programs. The Senior Project Manager will manage complicated projects financed with tax exempt bonds, Low Income Housing Tax Credits, City subsidized loans, conventional bank loans, and other tools such as the disposition of City owned land and New Markets Tax Credits. Projects are often mixed-use with commercial and community facility components.
Your Role:
The Senior Project Managers, under general supervision of the Director of ELLA Program and the Director of the Mixed Income Programs, will manage a portfolio of projects from predevelopment through construction, completion and conversion. The Senior Project Manager will work with other divisions within HPD’s Development Office to underwrite loans and manage projects through closing, construction, completions and conversions.
Your Responsibilities
- Reviewing and analyzing project proposals and budgets;
- Performing financial analysis and underwriting;
- Managing, monitoring, and tracking all aspects of projects from predevelopment through commitment, loan closing, and construction;
- Defining and negotiating business terms to advance HPD’s goals and policy objectives;
- Serving 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;
- Reviewing and coordinating submissions of required CEQR, NEPA and other environmental review reports;
- Coordinating submissions of ULURP applications for UDAAP and disposition of City-owned property;
- Supporting the issuance of Requests for Proposals (“RFPs”) and/or Requests for Qualifications (“RFQs”) by performing financial modeling of anticipated affordability scenarios;
- Performing financial feasibility review of RFP responses and make recommendations to senior staff;
- Preparing, maintaining, and circulating written correspondences, documents, reports, and files regarding all assigned projects;
- Monitoring progress and performing troubleshooting duties for projects in construction;
- Providing analysis and other services for projects pending conversion to permanent financing;
- Assisting with rent-up or other asset management issues.
Minimum Qual Requirements
1.A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or
2. A four year high school diploma or its educational equivalent approved by a State’s Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in “1” above; or
3.A satisfactory combination of education and/or experience which is equivalent to “1” or “2” above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have at least two years of experience as described 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, Real Estate Development, Business Administration, Public Administration or related fields are strongly preferred.
To Apply
Apply online.
55-a Program
This position is also open to qualified persons with a disability who are eligible for the 55-a Program. Please indicate at the top of your resume and cover letter that you would like to be considered for the position through the 55-a Program.
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.
