Senior Developer - Affordable Housing

About the role

Fairstead is a real estate firm focused on affordable housing, owning and managing more than 30,000 apartments across 28 states. The Senior Developer, Affordable Housing, supports acquisitions, rehabilitation and development (Section 8, Public Housing, LIHTC, etc.) in core US markets and reports to executive leadership, whose input informs investment and management decisions.

Key responsibilities

• Manage the lifecycle of multiple affordable housing projects, from underwriting through closing to stabilization
• Mentor junior staff and help grow the team
• Contribute to investment analysis and prepare and present investment materials to executive leadership
• Compile due diligence data (financial, market, site, regulatory) and manage project proformas, budgets, schedules and underwriting assumptions
• Complete applications and documentation for debt and equity financing, property purchase and sale, and government subsidy renewal
• Take part in contract negotiation and review of legal documentation
• Analyze and compare partnership agreements and cash flow waterfalls
• Lead internal team members and external consultants through conceptual design, entitlements and construction documents
• Handle pre-development work such as preliminary architectural and engineering issues, zoning and community support

Required profile

• Bachelor's degree in a related field; advanced degree a plus
• 10 years of experience in real estate development and/or construction, preferably affordable or multi-family
• LIHTC, Section 8 and Public Housing experience strongly preferred
• Experience managing and growing a small team a plus
• Some travel required

Required skills

• Strong quantitative, financial analysis and modeling skills (Excel)
• Research, writing, and communication skills
• Project management, multitasking and sound judgment