Project Manager

Description

Summary

Project Managers participate in the development process from initial feasibility of the development concept, through obtaining site control and entitlements, securing and closing on construction and permanent financing, and transitioning the project to operations. At CSI, this work involves preserving and renovating existing HUD-assisted senior cooperatives, construction of new senior cooperatives, and acquisition of affordable senior buildings and transitioning them to cooperative management. This position will work throughout CSI's portfolio in Michigan, Maryland, California, and Massachusetts.

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Development Projects (70% of time)

• Under the supervision of senior department staff, Project Managers will initially support senior staff on assigned projects and, within 12-18 months, will independently lead three to five projects (depending on complexity) at any one time. Tasks will include:
• In coordination with finance analysts and the construction department, assist in making initial assessments of project feasibility, incorporating an understanding of expected rents and operating expenses; existing financing, rental subsidy and property tax agreements; expectations of local approvals; development and/or rehabilitation costs; and potential financing sources.
• In coordination with the finance department, develop the feasibility analysis into project budgets and a schedule from funding application to financial closing. Identify and anticipate impediments to closing and potential solutions to overcome them.
• Lead project due diligence, including commissioning third-party reports by appraisers, environmental consultants, market analysts, and title companies, among others. Ensure that reports are completed on schedule and that findings are incorporated into the development plan, timeline, and budgets.
• Prepare applications for 4% and 9% low-income housing tax credits (LIHTC) through state housing finance agencies in MI, MD, CA and MA, first-mortgage loans (including HUD-insured debt), soft loans and grant sources, based on a thorough understanding of funding program policies and materials.
• For projects involving existing HUD financing or rental support, research and secure appropriate authorizations to assume or prepay debt and/or preserve and maximize rental subsidy, including Section 202, PRAC and RAD for PRAC conversions, and Section 8 (PBRA) contract renewals.
• Lead the local government entitlement and permitting process.
• Coordinate with the construction department to ensure that design, engineering, general contracting, and third-party consultants understand CSI's goals and are working to the project schedule. Ensure that project commitments for workforce participation (MBE/WBE, Section 3, etc.); prevailing wage (Davis-Bacon); Build America, Buy America (BABA), where applicable; green building and energy conservation; and governmental and lender inspections are incorporated into contracts and met through the design and construction process.
• For rehabilitations with residents in place, plan and coordinate construction phasing and resident relocation, including compliance with the Uniform Relocation Act (URA) where required.
• Work with co-op boards and residents throughout development: present project plans, obtain required board approvals, and keep members informed during construction.
• Lead or assist with financial closings, negotiating debt and equity terms and ensuring timely completion of all steps required for a successful transition to the construction and operation phases.

Acquisition of Properties/New Business Development (20% of time)

Project Managers will support senior department staff in pursuing one to two new business opportunities annually, including:

• Carrying out due diligence evaluation of sites, including ordering and analyzing appraisals, inspections, preliminary title reports and environmental reviews, and conducting initial market analyses.
• Assisting in negotiations for property acquisitions and drafting acquisition documents in coordination with legal counsel.

Other Tasks (10% of time)

• Participate in the continuous improvement of the development department and its contribution to meeting CSI's strategic mission.
• Develop subject matter expertise in programs, issues, and trends related to affordable, senior, and cooperative housing through independent research, training, and conferences, and collaboration with CSI staff.
• Contribute to, suggest, and potentially lead special projects to refine department policies and explore methods to better meet CSI's strategic mission.
• Perform other related duties as assigned.

Requirements

Supervisory Responsibilities

N/A

Work Environment

Project Managers generally work in an office environment at the co-op.

Physical Demands

This position requires sitting at a desk for extended periods of time and spending a significant amount of time on the phone.

• Must be able to push/pull/lift up to 30 pounds

Travel Required

May need to travel to co-ops and project sites on occasion.

Required Education and Experience

CSI seeks candidates with the knowledge, skills, and professional attributes to perform the tasks described above.

Knowledge and Skills

• Minimum education of a bachelor's degree in urban planning, finance, public policy or a related field.
• Two + years' experience working in real estate development, finance, project management, urban planning, public policy or law. Experience working with regulatory bodies and in affordable housing development preferred.
• Master's degree in business, real estate, urban planning, finance, architecture or a related field is preferred and may be used in place of one year of on-the-job experience.
• Knowledge, obtained through relevant academic or professional experience, of the regulatory, financial and logistical aspects of real estate development and affordable housing.
• Familiarity with HUD multifamily programs, LIHTC and/or cooperative housing preferred.
• Ability to write clearly and persuasively in formal and informal contexts is crucial to success in this role.
• Ability to produce logical project schedules that overlap multiple processes and reflect their interrelation.
• Ability to speak before groups of people and lead a meeting.
• Ability to analyze program materials and applications; legal documents and contracts; governmental policies and regulations; and budgets and pro formas, and to pick out relevant details and apply that knowledge in furtherance of project goals.
• Strong grasp of financial concepts and analytical skills. Experience with financial modeling is preferred.
• Strong research skills using online resources and informal telephone interviews.
• Proficiency with Microsoft Word and Outlook. Advanced Excel skills, including pro forma modeling, preferred. Experience with project management software is a plus.

Attributes

• Ability to work independently and proactively to track multiple deadlines across several projects, and to efficiently convey project status to the development team.
• High-level organizational ability and attention to detail, with a demonstrated ability to organize files and work to a deadline.
• Ability to anticipate obstacles to achieving project goals, take swift and appropriate corrective action, and use judgment in seeking help from other members of the development team when needed.
• Ability to progressively anticipate project needs and work independently.
• Team player with a proven ability to communicate expectations and timelines and to coordinate the work of a team of third-party professionals.
• Ability to cultivate and maintain relationships with internal and external partners.
• Ability to engage a wide range of audiences from diverse professional, cultural and socioeconomic backgrounds to convey CSI's plans, goals and values.
• Commitment to CSI's standards of professional excellence, respect and integrity at all times.
• Enthusiasm and commitment to CSI's values of cooperation and continual education, and to its mission to use our unique cooperative management system to be the premier national model for affordable senior housing.

Work Authorization

Department of Homeland Security (DHS) regulation requires all employees-citizens, residents, and nonresidents-to complete Form I-9 Employment Eligibility Verification. Employees are not allowed to work in the United States until the Form I-9 is completed and properly documented.

Affirmative Action/EEO Statement

CSI is an Equal Opportunity Employer

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.