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Job Title : Asset Management Senior Project Manager (NYCHA)
Date Posted : November 8, 2021
Type :

Description :

Job Description

In December 2018, Mayor de Blasio and New York City Housing Authority (NYCHA) released NYCHA 2.0, a comprehensive plan to fix and preserve public housing. NYCHA's Real Estate Development Department (REDD) is charged with leading and structuring real estate transactions that will address over $15 billion in capital needs. REDD will utilize the following three tools to generate the necessary revenue:

  1. Permanent Affordability Commitment Together (PACT) – PACT will use US Department of Housing and Urban Development (HUD) Section 8 programs to fund renovations and convert public housing (Section 9) apartments to permanently affordable housing. NYCHA plans to convert 62,000 apartments over 10 years, which will address $12.8 billion of capital needs.
  2. Build to Preserve (BTP) – New mixed-income buildings will be constructed on some underutilized spaces across the NYCHA portfolio. NYCHA expects to address $2 billion in capital need across approximately 10,000 apartments.
  3. Transfer to Preserve (TTP) – NYCHA will sell a portion of its estimated 80 million square feet of unused development rights ("air rights") to adjacent privately-owned sites. TTP will generate $1 billion for capital repairs at adjacent developments.

Under the direction of the Vice President of Asset Management, the Senior Project Manager will manage a portfolio of assets repositioned for the preservation and creation of public and affordable housing, respectively.

The Senior Project Manager will work on a team with technical knowledge related to real estate development, public housing, architecture, planning, and urban design. The Senior Project Manager will be responsible for implementing asset management strategies crucial to achieving NYCHA 2.0. The key responsibilities for this position include, but are not limited to the following:

  • Manage a portfolio of new construction, preservation, and development rights assets once repositioned outside the NYCHA public housing portfolio.
  • Oversee portfolio performance through ongoing monitoring of operational, financial, management, regulatory compliance, and budgetary compliance for assigned assets.
  • Develop and maintain relationships with development partners, lenders, investor clients, thirdparty management agents, and other agencies to ensure that assigned assets continue to meet goals.
  • Identify trends and potential performance problems and work through solutions to mitigate problems.
  • Prepare and present asset performance to internal management and external stakeholders.
  • Review asset performance and prepare periodic reports.
  • Perform periodic on-site property inspections of assets within the assigned portfolio.
  • Support other NYCHA departments in understanding business terms and legal agreements of transactions in the assigned portfolio.
  • Work with internal and external legal counsel on interpretation and implementation of contracts and closing documents.
  • Represent NYCHA in meetings with inter-agency representatives, development partners, lenders, and residents.
  • Draft language for requests for proposals. • Work closely with colleagues from NY City, NY State, and Federal agencies involved in developing affordable housing.
  • In the temporary absence of the supervisor, may assume the duties of that position. • Perform other tasks related to real estate finance and asset management.

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 visit the following link: http://www.nyc.gov/html/dcas/downloads/pdf/psb/100_1.pdf

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

Minimum Qual Requirements

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

1 . 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

2 .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.

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1 . Experience in affordable housing as an asset manager or financial underwriter.

2 . 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 required experience. However, all candidates must have at least two years of experience as described above.

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Preferred Skills

  1. Strong Financial Analysis skills.
  2. Experience in affordable housing as an asset manager or financial underwriter.
  3. 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.
  4. Proven strength in the use of spreadsheets, database, and presentation applications, including Excel and PowerPoint.
  5. Knowledge of New York City, New York State, and Federal affordable housing programs and the housing development process.
  6. Strong interpersonal, written, verbal, and analytical skills.
  7. Experience in Microsoft Office (Word, Excel, Access, Project, and PowerPoint).

Search for Job ID # 494877 on the NYC Careers Website


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