New York City Housing Authority’s Real Estate Development Department (REDD) is responsible for reinvesting in, restoring, and rebuilding publicly controlled affordable housing. REDD delivers on its mission by securing capital sources and operational expertise through innovative public-private partnerships that center resident voices. REDD’s work is critical to achieving NYCHA’s overall mission to provide quality housing for New Yorkers that is sustainable, inclusive, and safe, while fostering opportunities for economic mobility.

REDD oversees the implementation of the Permanent Affordability Commitment Together (PACT) program, which leverages the federal Project-Based Section 8 program to generate significant funding to modernize NYCHA communities, while preserving residents’ rights and enhancing their quality of life. In addition to the rehabilitation of existing buildings, REDD is also using PACT to undertake the complete rebuilding of public housing developments and create new mixed-income housing, community and commercial uses, public spaces, and other community assets. REDD’s PACT program has delivered $5.8 billion to over 20,000 homes and will address an additional $8 billion in capital needs for over 17,000 homes by 2025.

In addition to the PACT program, other development opportunities supported by REDD have included the transfer of development rights and the creation of thousands of affordable apartments, public and charter schools, and supportive housing.

REDD is seeking a Transactions Senior Project Manager to join our team. Under the direction of the Vice President for Transactions, the Senior Project Manager is responsible for overseeing and managing the transactional aspects of the PACT real estate development projects, from initial concept to construction closing. The Senior Project Manager will collaborate closely with internal stakeholders, external partners, and various city agencies to ensure the successful execution of development initiatives.

Key responsibilities:

1. Project Management:
- Oversee and manage multiple PACT transactions, ensuring alignment with project objectives and timelines.
- Coordinate financial closings with internal and external parties, including developers, City and State agencies, lenders, and bond underwriters.
- Represent NYCHA in meetings with inter-agency representatives, PACT development partners, lenders, and residents to facilitate effective communication and collaboration.

2. Underwriting:
- Conduct comprehensive financial analysis and modeling to assess the feasibility and viability of PACT transactions.
- Identify and analyze potential funding sources to support project financing needs, including grants, tax credits, loans, and other financial instruments.

3. Due Diligence:
- Review and evaluate due diligence materials related to project financing, including ground leases, loan documents, appraisals, and other relevant documents.
- Ensure compliance with regulatory requirements and assess potential risks associated with the transaction.

4. Negotiation and Closing Documentation:
- Collaborate with NYCHA's legal department and outside counsel to prepare contract and closing documents, including purchase agreements, financing agreements, and other legal documents.
- Participate in negotiations with stakeholders to secure favorable terms and conditions for NYCHA in PACT transactions.
- Ensure timely completion of closing documentation and facilitate the closing process to finalize transactions successfully.

5. Data and Policy Analyses:
- Conduct data analysis to inform decision-making processes related to PACT transactions, including demographic trends, housing market analysis, and financial projections.
- Evaluate existing policies and regulations to identify opportunities for streamlining processes and enhancing efficiency in PACT transactions.
- Provide insights and recommendations based on data analysis to support strategic planning and policy development within NYCHA's Real Estate Development Department.

NOTE: The Department of Citywide Administrative Services (DCAS) administered a civil service exam for the Associate Housing Development Specialist title on 03/06/24. Therefore, applicants (candidates) that did not take and pass the exam will potentially not be considered, likewise applicants not reachable on the established civil service list will potentially be in jeopardy of being replaced with an eligible civil service candidate.

NOTE: IF THIS APPOINTMENT IS MADE ON A PROVISIONAL BASIS PURSUANT TO 65 OF THE NYS CIVIL SERVICE LAW, NO TENURE OR PERMANENCE ACCRUES TO AN INCUMBENT IN THIS POSITION BY VIRTUE OF SUCH APPOINTMENT.

NOTE: This position is open to qualified persons with a disability who are eligible for the 55-a Program. Please indicate in your cover letter that you would like to be considered for the position under the 55-a Program. For detailed information regarding the 55-a Program, please click on the link below:

https://bit.ly/55aProgram

Additional Information

1. Candidates with permanent civil service status in the title of Administrative Housing Development Specialist M-1 will also be considered.
2. NYCHA employees applying for promotional, title or level change opportunities must have served a period of one year at current location and in current title and level (if applicable).
3. NYCHA residents are encouraged to apply.

Please read this posting carefully to make certain you meet the qualification requirements before applying to this position.

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.

1. Technical knowledge related to finance, real estate, public administration, and other related professional fields to ensure accurate interpretation of policies, legislation, regulations and standards applied to problems involving land use, zoning, infrastructure, finance and other planning issues. 2. Proven strength in the use of spreadsheets, database and presentation applications, including Excel and PowerPoint. 3. Knowledge of New York City, New York State, and Federal affordable housing programs and the housing development process. 4. Strong interpersonal, written, verbal, and analytical skills. 5. Experience in Microsoft Office (Word, Excel, Access, Project and PowerPoint).

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/.

NYCHA has no residency requirements.

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.