Jobs

Job Posting

Go Back

Job Title : Transactions Project Manager(NYCHA)
Date Posted : November 8, 2021
Type :

Description :

Search for Job ID # 492337 on the NYC Careers Website

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 U.S. 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 for Real Estate Transactions, the Project Manager will assist with the financial modeling and analysis of housing development projects on property owned by NYCHA, preservation projects to rehabilitate and preserve NYCHA-owned public housing, and other NYCHA Real Estate Development activities. In addition to playing an important role in executing NYCHA 2.0, the Project Manager will also work on projects under NYCHA’s 100% Affordable Housing Program. The program aims to build 10,000 units of affordable housing on underused NYCHA-owned land. The Project Manager will be responsible for projects associated with these programs as well as other departmental initiatives.

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

  • Administer multiple real estate transactions.
  • Provide financial analysis and modeling for new construction and preservation projects.
  • Review and evaluate due diligence materials as it relates to project financing, including ground leases, loan documents and appraisals.
  • Identify and analyze potential funding sources.
  • Underwrite mortgage or sponsor loans for new construction and preservation projects.
  • Assist NYCHA legal department in preparing contract and closing documents.
  • Coordinate financial closings with internal and external parties, including developers, City and State agencies, lenders, and bond underwriters.
  • Represent NYCHA in meetings with inter-agency representatives, development partners, lenders, and residents.
  • Draft requests for proposals.
  • Work closely with colleagues from NYC, NY State, and Federal agencies involved in the development of affordable housing.
  • Make presentation to residents, elected officials and community members.
  • In the temporary absence of supervisor, may assume the duties of that position.
  • Perform other tasks related to housing development finance.

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
  2. 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
  3. 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.

Preferred Skills

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


PHP FormMail Generator - A free tool to create ready-to-use web email forms with file upload, auto-response email, and dependent dropdowns.
Join Our   Mailing List