Job Description

Our Client

We are working with a privately held, well-financed, Real Estate Development firm with a strong sense of mission for Affordable Housing. The group is currently building a Permanent Supportive Housing project with a target population of Homeless w/ Mental Illness, Homeless with Seniors and Homeless Veterans at the 30 – 50% AMI level in LA County.

The Opportunity

KM Partners has been retained in the search for an Affordable Housing Development leader to be based out of California for the for-profit affiliate of a multifaceted organization that includes a foundation dedicated to building infrastructure for those suffering from mental health conditions, substance abuse disorders, and homelessness. Our client is expanding its U.S. Affordable Housing portfolio. The company currently has several projects in development in LA County and 5 more in their pipeline. This role will be central to scaling the US Affordable Housing platform, with the goal of adding at least 5-6 projects per year and continuing to grow the team and expand from there. This position will offer participation in the economics of their deals.

In collaboration with the Principles, the Leader of Affordable Housing Development is responsible for acquisitions and developments throughout their lifecycle, including sourcing, and for its ultimate handoff to the asset management and property management teams. With help from project management and other support staff, the Development leader will oversee closing, budget and construction tracking and will lead underwriting, presentations, team coordination, city communication, internal approvals and communication, budgets and forecasts. This key role includes market analysis/selection, evaluating each investment, finding development opportunities, sourcing asset acquisition opportunities, sourcing funding or partnership opportunities, and overall relationship-building. The Development leader will work with the principles to establish the company’s short-term and long-term investment strategies aimed at expanding the pipeline.

Scope of the Opportunity

• The company is backed by an Ultra High Net Worth Family Office
• Has successfully developed over 100M sq ft of real estate globally and over 10M sq ft of residential real estate priced below $100k/unit
• 50+ year history and recognized as a top 3 developer in their country of origin
• The affiliate Foundation is the largest mental health non-profit in their country of origin and has served over 1M people for free to date

Experience & Education

• Minimum 10+ years of relevant LIHTC real estate experience required.
• BS/BA in Finance, Real Estate, or related field.
• Prior experience sourcing LIHTC Affordable Housing ground-up construction deals
• General knowledge of Section 42 and affordable housing, partnership taxation and accounting, as well as real estate investment/financial analysis.
• Strong organizational skills and attention to detail are essential.
• Proficiency in MS Office applications and excellent verbal and written communication skills are essential.

Our Firm

KM Partners’ National Executive Search and Professional Recruitment practice areas focus on high-growth, impact-investment-oriented businesses across relevant industries, including Investment Management, Real Estate, Clean Energy, Sustainable Infrastructure, and related Business and Professional Services. With a core focus on Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable, and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.

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