Developer

Job Description

Job Description

Fairstead is a purpose-driven real estate firm dedicated to building affordable communities across the country. Headquartered in New York, with offices in Colorado, Florida, and Washington DC, Fairstead owns and manages a portfolio of more than 30,000 apartments, including pipeline, across 28 states. As an integrated owner, operator, and innovator, Fairstead brings development, construction, and property management under one unified platform to deliver high-quality affordable housing that serves our residents at scale.

At Fairstead, we believe affordable housing should be thoughtfully designed, professionally managed, and responsibly operated. We seek to create and preserve housing that serves residents while delivering long-term value to communities, partners, and stakeholders.

Fairstead challenges industry norms through our tech-forward, entrepreneurial approach to affordable housing. In addition to core real estate capabilities, we operate innovative service lines designed to improve resident outcomes, strengthen communities, and drive operational efficiency. We embrace digital transformation, data-driven decision-making, and emerging technologies, including AI, to build scalable systems that support sustainable growth, grounded in a culture of entrepreneurship, innovation, partnership, dedication, and integrity.

The Developer, Development, Affordable Housing, supports all aspects of affordable housing acquisitions, rehabilitation and development (Section 8, Pubic Housing, LITHC, etc.) in core markets across the US. The Developer will report to development leadership.

Responsibilities:

• Manage the lifecycle of multiple affordable housing development projects from initial underwriting, through closing to stabilization and 8609s.
• Demonstrate strong leadership and team-building qualities, mentoring junior staff and contributing to the continued growth and development of the team.
• Make substantial contributions to analysis that will inform the firm's investment decisions, prepare and present investment materials to development leadership
• Compilation of due diligence information including financial, market, site, and regulatory data
• Order and review third-party reports, including plan and cost reviews and environmental reports, and discuss any pertinent issues with the appropriate parties.
• Coordinate and lead community meetings and governmental approval processes
• Manage project pro formas including budgets, schedule, timing, and underwriting assumptions.
• Completion of applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewal.
• Support detailed analyses of project schedule delays, cost overruns, productivity, contracts, change orders and other issues related to design and construction.
• Involvement in contract negotiation and review of legal documentation for each project.
• Validation and support of budgets, assumptions, and pro-forma analysis.
• Build, coordinate and lead internal team members and external consultants through conceptual design and entitlements leading to construction documents.
• Perform, coordinate, and lead pre-development work such as preliminary architectural and engineering issues, zoning issues, local government and community support.
• Supervise personnel including team associates and analysts, and others as appropriate.
• Perform other related duties and support development leadership as required.

Requirements:

• Bachelor's Degree in related field, advanced degree is a positive.
• 7 years of experience in real estate development and/or construction, preferably affordable housing or multifamily
• LIHTC, Section 8 and Public Housing development experience strongly preferred.
• Strong quantitative, financial analysis and modeling (excel) skills.
• Exceptional research and writing abilities.
• Exceptional written and verbal communications skills.
• Strong project management skills and follow-through.
• Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.
• Highly driven and values entrepreneurialism; works well within ambiguity.
• Exceptional attention to detail.
• Sound judgement.
• Some travel required.

Exact compensation may vary based on skills, experience, and location.

Salary Range

$160,000—$180,000 USD

Diversity in backgrounds and experiences is key to Fairstead's success. Being an equal opportunity employer is a central tenet of our philosophy that shapes who we are and the communities we serve. Our goal is to ensure competitive total compensation that is commensurate with experience, location, and other market benchmarks.

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