The Development Risk Manager will manage construction risk for affordable housing projects being developed with Low Income Housing Tax Credits (LIHTC). The principal goal is to monitor construction progress, identify and resolve issues that may arise, and assure the completion of the projects and their viability as low-income housing over the long-term.
Company
Enterprise
New York, NY
Responsibilities
- Oversee the collection and review of monthly inspection reports, the evaluation of proposed change orders and other construction information for projects in the development phase
- Participate in the preparation and up-front review of construction-related due diligence, including contracts, plans and specifications and development team to strengthen underwriting
- Ensure continual evaluation of the construction portfolio to identify projects with issues. Coordinate with other internal groups to evaluate the consequences and develop solutions which incorporate mitigation of the issue, including the cost impact
- Proactively identify issues that may occur in the construction phase of these projects, including cost overruns, construction delays, design problems, sponsor/general partner issues, contractor issues, issues with governmental agencies, financing difficulties, provision of utilities, severe weather, environmental conditions, or other similar development issues
- Provide support and guidance as needed to the asset management staff to help resolve construction/development issues on stabilized projects
- Provide written summaries of issues and progress against strategy on a quarterly basis for any development projects identified as on or potential for watchlist
- Work collaboratively with a variety of other teams in the organization including regional asset management, finance, workouts, credit, accounting, and underwriting teams as well as other specialized teams, working on problem projects in all stages of the project’s life
Qualifications
- Bachelor’s degree in Architecture, Engineering or Construction Management or equivalent is required. Master’s degree a plus
- Registered Architect or Professional Engineer preferred
- 2-3 years of related experience with increasing levels of responsibility, preferably on-site construction oversight
- Demonstrable ability to handle a wide variety of construction related individuals/situations
- Solid understanding of the standards, processes, and challenges specific to the development of affordable housing preferred
- Knowledge/experience with Green Standards helpful
- Familiarity and working relationship with local/regional housing/building agencies and contractors
- Works well in a team environment
- Advanced oral and written communication skills
- Highest level of professional integrity
Instructions
Please note this position requires an ability to travel to job sites in NYC and the surrounding areas as needed and intermittently to Company functions (1-2 times per year).
Links
Program / Center Affiliation
Job Type
Full-Time