VP of Affordable Housing Development (LIHTC)
SkyWater is excited to be partnering with one of the most active and well-respected real estate developers in the Midwest on this fully-retained search assignment. In collaboration with a tight-knit, highly experienced team of real estate development professionals, the Vice President of Affordable Housing will have the opportunity to captain the entire development process – from identifying/sourcing viable projects (both on and off-market deals across multiple geographies) to securing financing, site acquisition, selection of design/construction partners, and ongoing oversight through project closeout. If you’re a seasoned real estate developer with a successful track record in affordable housing development, this is an excellent opportunity to play a first-hand role in providing high-quality affordable housing to those in need, while simultaneously capitalizing on a once-in-a-generation opportunity to build wealth through affordable real estate – all while being supported by a veteran team of real estate development professionals.
**NOTE: This position can be based in Minneapolis OR a number of other cities across the United States. Location will be determined by development opportunity, as well as local market knowledge & current location of interested candidates.
Responsibilities
- Source LIHTC sites locally and nationally.
- Develop viable economic project proformas in collaboration with Asset Management, Legal and Construction
- Negotiate all real estate transaction terms, documents, and contracts related to new developments
- Consistent and proactive reporting to senior leadership on project status, risk, and economics
- Oversee the construction draw process ensuring complete and timely payments to all parties
- Responsible for ensuring projects are delivered on-time, on-budget, and branded appropriately
- Source all financing required for each LIHTC project
- Identify project partners
- Manage project from inception to stabilization
Desired Skills and Experience
- 10-15+ years of experience in multifamily real estate development, including at least 5 years of experience focused on LIHTC development.
- Proven track record of executing LIHTC development deals from start to finish (Sourcing land --> Project close-out)
- Experience with Federal Historic Tax Credits is not required, but strongly preferred
- Self-starter capable of both working autonomously and collaborating effectively as part of a team
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