WHY WORK AT PLYMOUTH? Plymouth Housing Group's mission is to house people who have been homeless. From small beginnings in 1980, Plymouth has grown to manage 14 buildings in Downtown Seattle. Plymouth is celebrated as a national leader and pioneer in the field of permanent supportive housing. Plymouth's portfolio consists of historic and new state-of-the-art buildings. One of the joys of working at Plymouth is being surrounded by fun and dedicated teammates who are passionate about being part of the solution to our region's homelessness crisis.
ORGANIZATION OVERVIEW Plymouth Housing Group has been providing permanent supportive housing in Seattle for 37 years. Plymouth owns, operates, and provides services to 14 buildings with more than 1,000 affordable apartments in and around downtown Seattle. A Senior Real Estate Developer is needed to bring expertise and leadership during a period of unprecedented growth both in the City of Seattle and within Plymouth Housing Group. Plymouth plans to add 500 new apartments within the next 5 years and is exploring large scale mixed-use projects to achieve this goal.
JOB SUMMARY The Senior Real Estate Developer is a key member of Plymouth's Real Estate Development Department. This position will manage all aspects of affordable housing development projects, including feasibility, due diligence, design, community outreach, obtaining financing, development and operating budgets, and construction management. The position works in a team with internal staff, development partners and external consultants. This is a full-time position.
ESSENTIAL JOB FUNCTIONS (Responsibilities, accountabilities, and competencies; may not include all duties of this job)
Feasibility of Potential Projects •Identify potential development sites/projects. •Prepare and maintain preliminary development cost estimates in collaboration with architect and/or general contractor. •Develop preliminary operating cost estimates. Identify sources for pre-development financing and, as necessary, make application to those sources. Prepare cash flow analysis for both pre-development and development period. •Identify potential permanent funding sources for individual projects. •Identify and analyze Plymouth's exposure and risk; including financial, political and community aspects.
Financial and Community Support •Negotiate site control for acquisition of land and/or building. •Prepare applications for competitive funding sources including; tax credit allocation, grants, and funding from City, County, State and Federal agencies as appropriate. •Notify community groups and neighbors of intent to develop or purchase project, and maintain ongoing communication with neighborhood interests during design and development. •Identify project investor(s) and lender(s), in collaboration with Director of Real Estate Development. •Negotiate and close all agreements associated with project development funding. •Summarize terms of all financial agreements for use by development, property management and finance departments. •Close out funding sources at completion of project development.
New Construction and Acquisition •Identify and contract with development team, including resources such as environmental consultant, architect and other professional consultants, and general contractor. •Manage ongoing team coordination activities including periodic project meetings. •Prepare and submit periodic reports and manage ongoing relationship with representatives of all funding sources for projects in development. •Coordinate with Chief Financial Officer to reconcile cost accounting to development budget. •Prepare monthly reports regarding overall project development budget status for Director of Real Estate Development, Chief Financial Officer, Executive Director and Board. •Coordinate permitting and infrastructure activities to the extent required for project development schedule.
Coordination of Development Activities •Initiate and maintain communication with other Plymouth departments during feasibility, funding, project development and close-out activities. •Assist in refinement of Property Management development/design checklist, and use it as a communication tool during project development. •Participate in clarification of accounting transitions from pre-development to development, to cost certification, to project operation. •Participate in transition from construction completion to property management operations. •Negotiate terms of all construction/permanent loans and Investor agreements.
Team Effectiveness, Community Relationships and Professional Expertise •Participate in development team meetings, strategic planning sessions, identification of functional improvements, and other similar activities. •Maintain participation in the Housing Development Consortium of Seattle-King County (HDC) through meetings and affinity group activities. •Identify other professional organizations related to housing development activities and establish appropriate relationships. •Create and maintain individual professional development plan.
ESSENTIAL JOB QUALIFICATIONS (Any equivalent combination of knowledge, skills, abilities, education, and experience)
Education: Bachelor's degree in real estate development, urban planning, finance or related disciplines.
Required Experience: Five or more years of increasingly responsible experience in non-profit real estate development, affordable housing, real estate finance or related fields.
Certification/Licensure: Valid Washington State Driver License and driving record acceptable to Plymouth's insurance providers.
Other Qualifications: •Excellent written and verbal communication skills. •Expertise in complex real estate development and financing mechanisms for affordable housing development including low income housing tax credits (4% & 9% LIHTC specifically) and other public and private funding sources. •Ability to work effectively with individuals and community groups from a wide variety of cultures in a professional, respectful and engaging manner. •Ability to collaborate successfully across the organization. •Proficient and experienced with Microsoft Office applications; particularly Word, Excel, and Outlook.
BENEFITS Excellent benefits package - Medical/Vision/Dental, 403(B) Retirement Plan, Paid Time Off (PTO), Paid Holidays, Subsidized ORCA Card, Health Club Membership, Life and AD&D, Supplemental and Dependent Life Insurance, Short-Term Disability, Long-Term Disability, Flexible Benefit Plan, and benefits for domestic partners who qualify. Details at https://plymouthcareers.silkroad.com/plymouthhousing/Home/Benefits.html.
COMPENSATION $85,000 - $100,000 per year
APPLICATION DEADLINE Open until filled.
Plymouth Housing Group is committed to doing its work with compassion and respect for the dignity, worth, and uniqueness of all people and all cultures.
PLYMOUTH HOUSING GROUP IS AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER. People of Color, Individuals with Disabilities, and Veterans Encouraged to Apply
Plymouth Housing Group works to eliminate homelessness and address its causes by preserving, developing and operating safe, quality, supportive housing and by providing homeless adults with opportunities to stabilize and improve their lives.