About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.
- We maintain building and resident safety and health
- We create opportunities for New Yorkers through housing affordability
- We engage New Yorkers to build and sustain neighborhood strength and diversity.
HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

Your Team:

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Community Partnerships & Finance, Inclusionary Housing and Housing Incentives.
HPD’s Division of New Construction Finance (NCF) is part of the Office of Development which create or preserve affordable housing in New York City. NCF, in collaboration with other government partners, will create approximately 4,000 units of new housing each year for extremely low, Low income to middle income households. NCF administers four loan programs: : 1) Extremely Low & Low-Income Affordability (ELLA) Program, 2) the Mixed Income Program (Mix-and-Match), 3) Mixed & Midlle Income (M2) Program, and the 4) Neighborhood Construction Program (NCP).

Your Impact:
HPD’s Division of New Construction Finance is seeking to hire an experienced professional with real estate underwriting and financial analysis experience to be the Deputy Director for the Division’s programs, which includes NCP, ELLA, M2, and Mixed Income (Mix-and-Match) Programs. The Deputy Director will report to the Assistant Commissioner and Directors. This dynamic division finances the new construction of affordable housing through its loan programs for extreme low, low income, middle income and mixed income affordable rental.

Your Role:

As the Deputy Director, NCF, under general supervision of the Assistant Commissioner and Directors, will lead underwriting analysis for new project proposals, model potential development scenarios for city-owned sites, lead RFP reviews, and perform financial analysis to assess policy proposals and other special projects, as needed. The Deputy Director may be called upon to oversee a limited number of closings depending on the needs of the team.

Your Responsibilities

As a Deputy Director, you will perform duties including, but not limited to the following

- Performing feasibility analyses and making recommendations on project proposals for privately-owned sites;
- Evaluating project costs, land valuation, loan terms, affordability levels, etc.;
- Modeling potential development scenarios for city-owned sites in advance of issuing Requests for Proposals;
- Reviewing and scoring the financial feasibility of responses to Requests for Proposals for city-owned sites;
- Analyzing, evaluating, and improving underwriting standards and policies for the Programs;
- Developing spreadsheet models, tools, and templates for one-off analyses of proposals/policies and/or for use by project managers and other staff;
- Conducting financial analyses or developing underwriting models to assist in the review and modification of agency policies;
- Assisting with construction workouts, where financial analysis is required;
- Undertaking the review of critical special projects/initiatives;
- Overseeing closings on an as needed basis.

The position requires a candidate with excellent personal communication and leadership skills, and a demonstrated capacity for the performance of multiple tasks and independent judgment. Candidates should have demonstrated analytical skills and work comfortably with Microsoft Excel. In addition, candidates should have demonstrated capacity and experience analyzing development proposals using knowledge of financing tools including low-income housing tax credits and bond financing. There is a strong preference for candidates with significant real estate development experience, knowledge of and interest in the development of affordable housing, housing for the homeless and related social services, knowledge of the construction process and experience with loan underwriting and project scheduling.

Preferred Skills:

Strong preference for candidates who possess
- Demonstrate understanding of real estate development process, including pre-development, closing and construction.
- Background in or knowledge of real estate finance and underwriting.
- Advanced experience utilizing and developing complex Excel spreadsheets and presentation software is strongly preferred.
- Preference will be given to candidates with experience working for or working with government agencies and government programs related to affordable housing development.
- Candidates must have excellent verbal and written communication and strong interpersonal skills, strong analytical, organizational, and quantitative skills.
- Demonstrate ability to meet deadlines and manage multiple projects in a timely manner and to be a team player.
- Candidates with Masters in Urban Planning, Real Estate Finance, Business Administration, Public Administration or related fields are strongly preferred.


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1.A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or

2. A four year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in "1" above; or

3.A satisfactory combination of education and/or experience which is equivalent to "1" or "2" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have at least two years of experience as described above.

This position is also open to qualified persons with a disability who are eligible for the 55-a Program. Please indicate at the top of your resume and cover letter that you would like to be considered for the position through the 55-a Program.

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/.

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.