Director, Development

Job Type

Full-time

Description

Fairstead is seeking a Director to join our Development team in New York. As the Director, Development, you will play a pivotal role in our Fairstead's value-add/opportunistic investment platform that specifically targets affordable housing projects across the United States. Your expertise will be at the heart of our core markets, guiding the rehabilitation and development of projects that contribute to vital housing solutions. You will leverage your analytical prowess to shape decisions, lead cross-functional teams, and ensure the successful execution of projects from conception to completion. At the direction of the Managing Director, Development, working in tandem with other members of the team, you will project manage and oversee projects at various stages.

RESPONSIBILITIES

• Support the Partner level in all aspects of affordable housing acquisition, rehabilitation, and development (Section 8, LIHTC, etc.) in core markets across the US
• Expected to make substantial contributions to analysis that will inform the firm's investment decisions
• Compilation of due diligence information including financial, market, site, and regulatory data
• Analyzing and comparing complex partnership agreements and cash flow waterfalls
• Manage project proformas including budgets, schedule, timing, and underwriting assumptions
• Completion of applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewal
• Involvement in contract negotiation and review of legal documentation for each project
• Validation and defense of budgets, assumptions, and pro-forma analysis
• Build, coordinate and lead internal team members and external consultants through conceptual design and entitlements leading to construction documents
• Perform, coordinate and / or lead pre-development work such as preliminary architectural and engineering issues, zoning issues, local government, and community support

Requirements

• Bachelor's Degree in related field, advanced degree preferred.
• 7-10 years of experience in real estate development and/or construction, preferably multifamily.
• LIHTC and Section 8 development experience highly preferred.
• Strong quantitative, financial analysis and modeling (excel) skills.
• Exceptional research and writing abilities.
• Exceptional written and verbal communications skills.
• Strong project management skills and follow-through.
• Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.
• Highly driven and values entrepreneurialism; works well within ambiguity.
• Exceptional attention to detail.
• Sound judgement.
• Some travel required

COMPENSATION AND BENEFITS

Compensation: $150,000 - $200,000 + bonus eligible

Health Benefits: Generous employer contribution medical, dental. Employer paid vision.

15 PTO, 7 sick days

Generous holiday schedule, paid maternity leave

Additional Benefits:

• Flexible Work Arrangements
• 401K Plan
• Flex Spending Accounts
• Life Insurance
• Commuter Benefits
• Long Term Disability
• Nationwide Pet Insurance