Vice President - Development, Finance & Underwriting

SUMMARY:

Reporting to the Senior Vice President - Development & Construction, the Vice President - Development Finance & Underwriting provides strategic leadership and oversight for all financial aspects of public housing and affordable housing development projects. This role is responsible for leading the underwriting of development opportunities, structuring project capital, preparing and reviewing proformas and financial models, and providing transaction support. The VP develops and executes financial strategies for the project pipeline, ensuring alignment with organizational goals and compliance with regulatory and funding requirements. This position collaborates closely with Finance, Asset Management, Property Management teams, and external lenders to optimize project feasibility, financing structures, and long-term financial performance, while providing leadership and guidance to development finance staff.

ESSENTIAL FUNCTIONS:

• Leads the underwriting of development and redevelopment projects, evaluating feasibility, risk, and financial viability.

• Develops and structures capital for projects, including debt, equity, grants, and other funding sources, ensuring alignment with organizational and funding requirements.

• Prepares, reviews, and maintains detailed proformas and financial models for new development and rehabilitation projects.

• Provides transaction support, including due diligence, funding submissions, lender coordination, and closing documentation.

• Develops and implements financial strategies for the project pipeline, optimizing project feasibility, capital efficiency, and long-term financial performance.

• Collaborates closely with Finance, Asset Management, Property Management, and external lenders to ensure projects meet organizational, financial, and regulatory objectives.

• Monitors financial performance of active projects, providing analysis and recommendations for adjustments, refinancing, or operational improvements.

• Provides leadership, guidance, and mentorship to development finance and underwriting staff.

• Ensures compliance with federal, state, and local financing requirements, including HUD, LIHTC, RAD, and other public housing or affordable housing program rules.

• Participates in executive-level decision-making regarding development project approvals, investment strategies, and capital allocation.

• Maintains accurate financial documentation, reporting, and records to support internal management, audits, and lender requirements.

• Performs related duties as assigned

MINIMUM QUALIFICATIONS:

Education, Training and Experience Guidelines:

A Bachelor’s degree and a minimum of ten (10) years of directly related experience including progressive experience in real estate development finance, underwriting, or capital structuring, a minimum of three years of experience supervising professional staff is required; an equivalent combination of education and experience may be considered.

Preferred

Demonstrated experience leading underwriting, financial modeling, proformas, and transaction support for complex development projects; Affordable or public housing experience; Experience collaborating with Finance, Asset Management, Property Management teams, and external lenders to structure capital, manage risk, and execute development strategies.

Master’s degree is preferred.

Required Knowledge of:

• Federal, state, and local statutes, codes, and regulations governing public housing development, construction, and finance, including HUD and Code of Federal Regulations requirements.

• Real estate development finance, underwriting, and capital structuring, including debt, equity, grants, and other funding sources.

• Financial modeling, proforma analysis, and project feasibility assessment for development and redevelopment projects.

• Public housing and affordable housing programs, including HUD, LIHTC, RAD, and other regulatory and funding requirements.

• Financial risk management, transaction structuring, and lender requirements.

• Internal organizational processes and collaboration with Finance, Asset Management, and Property Management teams.

Required Skill in:

• Ability to lead and oversee complex financial analyses, underwriting, and capital structuring for multiple development projects simultaneously.

• Strong analytical and strategic thinking skills to evaluate project feasibility, financial performance, and risk.

• Ability to communicate effectively with executive leadership, internal teams, external lenders, and stakeholders.

• Strong leadership and team management skills to mentor and guide development finance and underwriting staff.

• Ability to organize, interpret, and present complex financial information clearly to support decision-making and regulatory compliance.

LICENSE AND CERTIFICATION REQUIREMENTS:

A valid Driver's License is required.

Supervisory responsibilities

Supervises a professional staff

Travel required

Limited travel to PHA sites as warranted.