Vice President, Affordable Housing Acquisitions & Development

Job Description

Company: Fairstead Affordable, a Fairstead subsidiary, specializes in the acquisition, rehabilitation and preservation of affordable and mixed-income housing across the US. Fairstead is a real estate investor and operator specializing in multifamily housing. Fairstead owns over 10,000 market rate, workforce and affordable rental units across the U.S. Through its disciplined investment approach, Fairstead has acquired nearly $3.0 billion in real estate since 2013. 

Position: Vice President, Affordable Housing Acquisitions & Development, Fairstead Affordable

Location: New York, NY

Start Date: ASAP

Salary: Commensurate with experience

Primary Responsibilities:

• Support the head of the group in all aspects of affordable housing acquisition, rehabilitation, and development (Section 8, LIHTC, etc.) in core markets across the US
• Expected to run LIHTC / Bond redevelopment projects 
• Analyzing and comparing complex partnership agreements and cash flow waterfalls
• Manage project pro formas 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
• Negotiation 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

Qualifications:

• Experience
  • Minimum of 5 years of relevant experience in real estate acquisitions or development
  • LIHTC and/or Section 8 acquisition experience required 
• Education
  • Bachelor’s degree required
  • Graduate degree a plus
• Values entrepreneurialism and works well with limited direction
• Strong analytical skills and ability to multi-task in a constantly changing environment
• Excellent written and verbal communication skills
• Curious and highly driven
• Strong quantitative, financial analysis and modeling (excel) skills