Development Manager
BACKGROUND
Manna, Inc. is a is a nonprofit developer of affordable rental and ownership housing, a condominium and homeowner association manager, and a HUD approved housing counseling agency, currently operating in the District of Columbia and Maryland. Since its founding in 1982, Manna has invested over $350 million in District of Columbia neighborhoods to create affordable rental and owner-occupied housing and has helped over 2,000 low- and moderate-income households become homeowners. Its portfolio includes both ownership, preservation, and multifamily affordable rental units.
Manna’s approach is to perform development functions in-house through its development staff, sales and marketing, and home buyer education and counseling teams. Manna has a few joint venture arrangements with other development companies.
Manna’s real estate functions occur in the department of Project Development, which focuses on developing & building high-quality, affordable rental & home ownership real estate projects, emphasizing home ownership housing. Currently, Manna has approximately 500 units over five projects in its pipeline that are under development.
The Development Manager’s role primary responsibility is to provide leadership and support in executing existing projects, as well as pursuing new development opportunities in accordance with Manna’s strategic housing priorities. Demonstrated knowledge and experience in securing various financing sources including Low Income Housing Tax Credits (LIHTCs), Construction and Permanent loans, and soft gap financing sources.
Essential Functions/Responsibilities
• Development and implementation of the organization’s housing priorities through strategic acquisition of single-family homeownership, and multifamily developments, as well as development of new construction housing.
• Conduct site assessment, feasibility analysis, market research, due diligence, and oversee entitlements, the design process, financing, and completion through lease-up or sales.
• Structure, underwrite, and manage proformas for new developments including sources and uses, operating expense, and cash flow analysis.
• Effectively present analysis and approval recommendations to investment and project committees.
• Assist in processing projects through city zoning, permitting, condo conversion, Tenant Opportunity to Purchase (TOPA) rights, housing code enforcement, and tax and revenue issues
• Apply, negotiate, and secure project financing including grants, loans, LIHTCs, rental assistance contracts, and other housing subsidies.
• Review of architectural and engineering plans, as well as construction budgets.
• Coordinate duties with architect, engineer, landscape architects, interior designers, property managers, project managers, and development associates.
• Negotiate complex real estate transactions, including the ability to review legal documents and negotiate terms to protect the organization’s financial and business interests.
Education & Qualifications
• Bachelor’s degree required, Master’s degree in related field a plus.
• Demonstrated experience in completing 3 development projects or more from feasibility, through construction completion and lease-up or sale.
• Proficiency in managing financial budgets
• Excellent communication skills both written and verbal
Compensation: Competitive salary and benefits commensurate with experience.
• Medical, Dental, Vision Insurance
• Life Insurance
• Disability Insurance
• 401K
• FSA
To Apply submit the following:
• Cover Letter
• Resume
Send to FJackson@Mannadc.org
Work environment/Location: Currently, “Hybrid” Partially in-person & Partially remote/teleworking.
Application Deadline: Rolling. Applications will be considered as received.
Job Type: Full-time
Pay: Commensurate with experience, and benefits
Benefits:
Medical, Dental, Vision Insurance
Life Insurance
Disability Insurance
Flexible Spending Account (FSA)
Paid Time Off
Schedule:
Full-Time schedule
Hours: 9:00 am to 5:30 pm (Monday - Friday) (30 Minute Lunch included in the 8 1/2 hour work day)
Some After Hours or Weekend work may be required
Send us your resume and cover letter
Manna, Inc. is an equal opportunity employer.