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Vice President, Real Estate Development

Full Circle Communities • Full-time • Chicago, IL • $145k - $180k / year • 2w ago

Vice President - Real Estate Development

Location: Chicago, IL

Employment Type: Full-time

Requisition ID: 1727

About the Employer

Full Circle Communities, Inc., is a mission-driven non-profit developer and manager of affordable housing with a focus on expanding access to quality affordable housing. The organization achieves its mission collaboratively with residents, communities, industry partners, and employees, and provides targeted supportive services to residents and surrounding communities. Full Circle currently has ownership and affiliated interests in and manages over 1,500 apartment units in Illinois, Iowa, and Michigan.

Role Summary

Full Circle is seeking a Vice President of Real Estate Development (VPRED) to join the Real Estate Development Team as a senior officer-level role. This position takes affordable housing projects from idea to reality while managing the people, money, risk, and community relationships required to do so at scale. The Vice President will oversee the entire lifecycle of a portfolio of affordable housing projects, secure and structure funding, manage external relationships and community engagement, manage and develop a team, and serve as a proxy for executive leadership. The position reports to the Executive Vice President of Real Estate Development.

What You'll Do

Real Estate Development

Initiate and evaluate new development opportunities
Analyze federal, state, and local priorities for creation, acquisition, and financing of affordable housing
Support formulation of the department project pipeline and staffing workplan
Evaluate potential sites to determine feasibility
Negotiate purchase agreements and establish site control
Oversee development projects from initiation to completion with clear responsibilities in each stage:
Pre-development: Oversee staff on initiation, underwriting, and evaluation of opportunities; analyze projects within funding priorities; lead project mission formulation; oversee financing applications; approve project partner selection; build community support and oversee entitlements; oversee closings
Construction: Oversee staff's implementation of the construction process; approve development-related payment requests, budgets, accounting reports, RFPs, and contracts; monitor project funds and forecast cash flows; oversee loan draws; oversee construction, architectural, and financing approvals; coordinate with property management and Mission Impact
Close-out and hand-off: Oversee transition from development to property management; oversee certificate of occupancy and completion approvals; guide conversion from construction to permanent financing; guide punchlist completion and warranty requests

Team Leadership and Strategy

Work closely with leadership to formulate and coordinate development policy, goals, and budgets with approval of the President & CEO, Senior Staff, and Board of Directors
Manage staff members on the real estate development team with a focus on performance support and evaluation, hiring, and onboarding
Oversee all acquisition, financing, design, and construction activities of assigned staff on one or more developments per year
At discretion of the EVPRED, prepare departmental reports including Board reports, developer fee projections, and risk rating reports, and participate in Board and committee meetings
Assume the responsibilities of the EVPRED in their absence
Perform other tasks as assigned by the EVPRED or President & CEO

Relationship Management

Create and maintain strategic relationships for the organization and projects
Formulate and direct project community outreach strategies and coordinate with local advocacy groups
Participate in neighborhood and community meetings
Contribute to City, County, and State policy planning and advocacy efforts
Build, maintain, and evaluate relationships with funders, consultants, municipalities, and vendors

Required Qualifications

Bachelor's degree or appropriate professional experience may be substituted for a degree
10+ years of direct experience in affordable housing development including completing multiple affordable housing development projects
Technical knowledge and ability to structure complex private and public debt, equity, and grant funding for affordable housing development projects
Substantial experience with architectural and engineering design and construction materials and methods, including the ability to read drawings
Completed multiple affordable housing development projects
Capacity to exercise considerable initiative, independent judgment, assess risk, and communicate around typical acquisition, financing, construction, and design issues
Effective communicator verbally and in writing, with well-developed analytical, negotiation, and public speaking skills
Prior supervisory experience in the affordable housing field with demonstrated ability to supervise staff, mentor, train, and provide feedback
Ability to collaborate with and lead a wide variety of individuals and groups
Works productively under pressure and demonstrates ownership of work and outcomes

Preferred Qualifications

Sustained exemplary performance as a Senior Project Manager or Master's degree
Completed 7+ affordable housing developments in a leadership role such as Project Manager, Senior Project Manager, or Vice President
5+ years of supervisory or management experience in the affordable housing field

Compensation

$145,000–$180,000 annually

Benefits

Health, dental, vision, IRA, life, and supplemental insurance. Relocation assistance may be available for qualified candidates.

Physical Requirements & Working Conditions

This is a hybrid role with in-office expectations of at least two days in the office, including Wednesdays. The role requires occasional travel in the Chicago metropolitan area, Kalamazoo, and Detroit, Michigan. Full Circle Communities headquarters are located in Chicago, Illinois, in the West Loop near UIC, with a relaxed, business casual environment.

How to Apply

Please apply online through Full Circle's Application Link. Include a cover letter with your application. Final candidates will be required to pass a background check and provide professional references.

Equal Opportunity Statement

Full Circle is proud to be an equal opportunity employer. While the organization has a set of preferred qualifications listed, if you have other experience that you think is related, please apply.

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