Director of Development

Job Description

Job Description

Summary

The Memphis Housing Authority (MHA) is looking for a dependable Director of Development to join our team! The Director of Development is the Authority's senior leader responsible for identifying, evaluating, structuring, financing, and executing real estate development opportunities that advance MHA's mission while expanding sustainable, revenue-generating lines of business. The Director leads the full development lifecycle—from concept and feasibility through financing, construction, lease-up, stabilization, and transition to operations—and pursues appropriate developer fees, construction management fees, consulting revenue, cash flow, and other mission-aligned returns. This position reports to the Chief Executive Officer.

The Director manages Development Department project staff, directly oversees the Capital Improvements Manager, and coordinates the work, schedules, priorities, and performance of the Capital Improvements Department. The position works closely with the Asset Management Director on RAD and other repositioning strategies and collaborates across MHA, governmental agencies, lenders, investors, developers, consultants, residents, and community partners. All activities must support MHA's mission, strategic goals, internal controls, and applicable federal, state, and local requirements.

All activities must support the MHA (or “Authority”) mission, strategic goals, and objectives.

Essential Duties and Responsibilities

The statements contained here reflect general details as necessary to describe the principal functions of this job, the level of knowledge and skill typically required and the scope of responsibility but should not be considered an all-inclusive listing of work requirements. Individuals may perform other duties as assigned including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload. The position description is in compliance with Americans with Disabilities Act requirements.

• Develop and maintain a strategic real estate development and revenue-growth pipeline aligned with MHA's mission, portfolio needs, available land, neighborhood priorities, and Board-approved strategic direction.
• Identify, source, and vet acquisition, rehabilitation, new construction, redevelopment, disposition, joint-venture, consulting, and construction management opportunities.
• Direct preliminary due diligence, site and market analysis, development feasibility, financial modeling, risk assessment, partner capacity review, and go/no-go recommendations.
• Prepare business cases and recommendations that clearly present mission impact, financial returns, risks, resource requirements, timing, and decision points to the CEO and Board of Commissioners.
• Establish project schedules, budgets, risk registers, and performance dashboards for the development pipeline.
• Structure and negotiate development transactions, financing plans, partnership arrangements, development agreements, ground leases, management agreements, and related business terms in coordination with legal and financial advisors.
• Identify, secure, and administer public and private funding sources, including Low-Income Housing Tax Credits, tax-exempt bonds, RAD resources, FHA-insured financing, HOME, CDBG, Federal Home Loan Bank programs, grants, conventional debt, philanthropic capital, and other available sources.
• Evaluate capital stacks, eligible basis, sources and uses, operating pro formas, cash flow, developer fee timing, guarantees, long-term obligations, and sensitivity scenarios.
• Develop and execute strategies to generate and protect sustainable developer fees, construction management fees, consulting fees, asset management fees, and stabilize cash flow consistent with law, program rules, and MHA policy.
• Coordinate financial and legal closings and ensure completion of required approvals, commitments, due diligence, and closing deliverables.
• Partner with the Asset Management Director to develop and implement strategies for repositioning MHA's remaining public housing portfolio, including RAD, Section 18, RAD/Section 18 blends, Faircloth-to-RAD, and other HUD-approved tools.
• Coordinate assessments, resident and stakeholder engagement, relocation planning, financing, development scope, ownership and operating structures, HUD submissions, closing activities, and transition to post-conversion operations.
• Align development decisions with asset performance, physical needs, compliance requirements, resident protections, long-term affordability, and property management capacity.
• Maintain effective working relationships with HUD, the City of Memphis, the Tennessee Housing Development Agency, bond issuers, development partners, lenders, investors, and other agencies.
• Lead the development process from initial concept through design, entitlements, procurement, financing, construction, lease-up, stabilization, cost certification, and project closeout.
• Supervise Development Department project management staff; assign projects, establish expectations, monitor schedules and budgets, remove barriers, and ensure timely, accurate deliverables.
• Directly supervise the Capital Improvements Manager and coordinate the Capital Improvements Department's annual plan, project prioritization, procurement schedule, construction activities, inspections, reporting, closeout, and interdepartmental coordination.
• Ensure capital and development projects use disciplined project management practices and appropriate software to monitor milestones, budgets, change orders, contingencies, draw schedules, risks, and corrective actions.
• Coordinate with procurement staff on solicitations and contract administration and with architects, engineers, contractors, inspectors, consultants, property managers, and maintenance personnel on project delivery.
• Ensure adequate quality control, construction oversight, documentation, and resolution of design, schedule, budget, safety, and performance issues.
• Identify, solicit, evaluate, negotiate, and manage public-private partnerships and joint ventures; conduct appropriate financial, legal, performance, and reputational due diligence before recommending commitments.
• Manage relationships with development partners, limited partners, lenders, syndicators, management agents, consultants, and governmental stakeholders and monitor compliance with governing agreements.
• Prepare accurate, decision-ready reports and presentations for the CEO, Executive Team, Board of Commissioners, committees, partners, and public stakeholders.
• Work collaboratively with Asset Management, Finance, Compliance, Procurement, Legal, HCV, Information Technology, Human Resources, and communications staff to execute cross-functional initiatives.
• Develop departmental goals, work plans, budgets, policies, procedures, internal controls, staffing plans, and succession strategies; coach staff and conduct performance management.
• Represent MHA at meetings, negotiations, conferences, community forums, and industry events and perform other related duties as assigned.

Accountability and Performance Measures

• Quality and financial strength of the qualified development pipeline.
• Achievement of approved project milestones, budgets, closings, lease-up, stabilization, and closeout targets.
• Amount, timing, collectability, and risk-adjusted value of mission-aligned earned revenue and developer returns.
• Effectiveness of RAD/repositioning coordination and protection of residents, affordability, and MHA's long-term interests.
• Capital improvement delivery, including schedule, budget, quality, compliance, documentation, and audit readiness.
• Quality of partner due diligence, risk management, internal controls, reporting, staff development, and cross-departmental coordination.

Behavioral Competencies

This position requires the incumbent to exhibit the following behavioral skills: 

Job Knowledge : Advanced knowledge of affordable and mixed-income housing development, real estate finance, construction, property operations, and public-private partnership structures. Working knowledge of LIHTC, tax-exempt bonds, RAD and other HUD repositioning tools, public housing capital requirements, layered financing, and applicable compliance obligations. Ability to analyze complex pro formas, capital stacks, partnership terms, market studies, appraisals, environmental reports, construction budgets, schedules, contracts, and risk allocations. Strong negotiation, business judgment, project management, leadership, staff supervision, written communication, presentation, and stakeholder-management skills. Ability to manage multiple complex projects, establish priorities, make timely recommendations, and maintain accurate, audit-ready records. High ethical standards and the ability to identify, disclose, and manage conflicts of interest while protecting public resources and MHA's reputation. Proficiency with Microsoft Office and project management, financial modeling, document management, and reporting systems.

Commitment:   Sets high standards of performance; pursues aggressive goals and works hard/smart to achieve them; strives for results and success; conveys a sense of urgency and brings issues to closure; and be adept at multitasking while maintaining accountability for complete and timely work performance. Demonstrates strong organizational, project management and critical thinking skills.

Professional Behavior : Exhibits positive, polite, courteous, honest, and conscientious behavior with all internal/external clients. Accepts responsibility for actions and adjusts behavior as appropriate. Must demonstrate a high level of professionalism and maintain the decorum of the office. Must be able to establish and maintain effective working relationships with internal and external customers, clients, and constituents. Must be able to communicate with a variety of audiences and provide excellent customer service. Must display a neat, clean, and professional appearance.

Reliability & Judgment : Employee demonstrates sound reasoning and critical thinking by making decisions in line with established Agency expectations. Performs work in a reliable manner that is both accurate and timely. Must uphold a strict level of confidentiality. Must be skilled in analyzing situations in order to identify problems and offer viable solutions.

Teamwork:   Balances team and individual responsibilities; exhibits objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; puts success of team above own interests; supports agency's mission and values

Education and/or Experience

Minimum Qualifications:

• Bachelor's degree from an accredited college or university in real estate, finance, business administration, public administration, urban planning, architecture, engineering, construction management, or a closely related field.
• Seven (7) years of progressively responsible experience in real estate development, affordable housing finance, construction, asset management, or a related field, including at least three (3) years of supervisory or major project leadership experience.
• Demonstrated experience taking complex real estate projects through feasibility, financing, closing, construction, and stabilization.
• An equivalent combination of education, training, and experience that provides the required knowledge, skills, and abilities may be considered.
• Valid driver's license and ability to travel locally and periodically outside the Memphis area.

Preferred Qualifications: