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Job Description
About the Agency:
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 implement the Housing New York 2.0 Plan. The Division of Preservation Finance administers multiple programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the HUD Multifamily Program, the LIHTC Portfolio Preservation (Year 15) Program, the Housing Preservation Opportunities Program (HPOP), the Green Housing Preservation Program (GHPP) and, the Primary Prevention Program (PPP). These programs facilitate the stabilization, rehabilitation and energy efficiency of privately-owned multifamily buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Housing Plan to create and preserve 300,000 housing units.
Your Impact:
Division of Preservation Finance administers multiple loan and tax incentive programs, including the Multifamily Housing Rehabilitation Loan Program (HRP), Participation Loan Program (PLP), Lower Manhattan Acquisition Program, Housing Preservation Opportunities Program, Neighborhood Pillars Program, HUD Multifamily Program, LIHTC Portfolio Preservation (Year 15) Program, Primary Prevention Program, and Green Housing Preservation Program. These programs facilitate the preservation of affordable housing of privately-owned multifamily buildings throughout New York City by providing low-interest loans and tax incentives to ensure the physical and financial viability of properties in exchange for a commitment to keeping rents affordable to low and moderate income households. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Housing Plan to create and preserve 300,000 housing units.
Your Role:
As Senior Project Manager, you will work under the supervision of and report to the Director and Deputy Director of the Moderate Rehabilitation and Stabilization Loan Programs within HPD’s Division of Preservation Finance. You will work to close on capitally funded financial transactions under the Green Housing Preservation Program and Multifamily Housing Rehabilitation Program, particularly the more complex and challenging ones, as well as assist the Director and Deputy Director in program administration, including developing resource materials and process improvements, analyzing policy recommendations and facilitating implementation of new policies and in the training and mentoring project management staff.
The HRP program provides low-interest loans (up to 3%) to privately-owned multifamily buildings with 3+ units to assist in the rehabilitation and energy performance of their buildings. Buildings over 50 units that cannot support private debt or buildings under 50 units that do not meet the energy reduction requirement of the GHPP are eligible to participate in this loan program. Similar to GHPP, most buildings are also eligible to receive tax incentives through J-51 or Article XI programs.
Your Responsibilities:
As Senior Project Manager, you will perform duties including, but not limited to the following:
- Managing intake, assessment, and underwriting of complex capitally funded projects including resolving complex work-outs and challenges.
- Ensuring timely completion of transactions
- Preparing statistical and tracking reports
- Assist in onboarding and training other project managers and other Division staff and more junior Project Managers including providing direct mentorship on projects.
- Develop Division resource materials, process improvements, analyzing policy recommendations and facilitating implementation of new policies.
- When directed by Deputy Director or Director, communicate with interagency partners and external parties to facilitate program goals and policies.
- Working on other special projects as needed
As the ideal candidate, you should have strong financial analysis skills, including financial modeling and financial statement analysis; be detailed-oriented; self-motivated; able to independently manage multiple projects; make policy recommendations; exhibit exceptional analytical, problem-solving and negotiating skills; and demonstrate experience in meeting competing deadlines. You should also demonstrate strong verbal and written communication skills.
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
- Interest in community development, urban planning, affordable housing or real estate finance
- Knowledge of New York City affordable housing and private lending programs
- Interest and/or experience working with small building owners and/or low-capacity borrowers
- At least 1 year of underwriting experience
- Advanced computer skills including competency in full Microsoft Office suite, especially Excel
- Capacity to simultaneously work on multiple tasks and set priorities for a challenging workload
- Strong interpersonal and communication skills. Excellent writing and editing skills
- 2-3 years of applicable experience working in a fast-paced and often-changing environment
- Master in Urban Planning, Real Estate Finance, Business/Public Administration or related fields
To Apply
Apply online.
55-a Program
This position is opened to qualified persons with a disability who are eligible for the 55-a Program. Please indicate on your resume that you would like to be considered for the position under 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.
