Director of Real Estate

Company: Asian Community Development Corporation

Location: Boston, MA

Job Function: Project Management


Background

The Asian Community Development Corporation (ACDC) seeks a Director of Real Estate to join our team. ACDC works in underserved and immigrant Asian American communities in the Greater Boston region to create and preserve affordable, sustainable, and healthy neighborhoods. We achieve this by building affordable homes and vibrant spaces, empowering families with asset-building tools, and strengthening communities through resident and youth leadership programs.

The Organization and its Real Estate Activities

Based in Boston’s Chinatown, ACDC was established in 1987. Together with key partners, we have developed 316 low, moderate and middle income rental units and 85 condominiums, plus 8,000 feet of commercial space in Boston and Quincy. Today we have an organizational operating budget of approximately $2.2 million, a dedicated staff of 13 and an active board of 15 community leaders. We expanded our homeownership counseling, financial literacy and youth programs to Malden and opened a satellite office there in 2016.

Currently we have four new construction rental and homeownership projects in development, with approximately 290 units in Boston’s Chinatown and in Malden. One of the Chinatown projects will also include a new permanent home for the Chinatown branch of the Boston Public Library. We are planning for the renovation and refinancing of two projects with 95 units in Chinatown.

Summary

The Director of Real Estate

The Director of Real Estate will play a key role in the organization’s housing development work. The Director will establish a pipeline of projects and oversee the execution and implementation of housing development, with a focus on ACDC’s primary geographies of Boston’s Chinatown, Malden and Quincy. The Director will supervise 1-2 Real Estate Project Managers as well as various consultants.

Responsibilities

Duties will include but are not limited to:

  • Develop and maintain a pipeline of real estate projects, including searching for new projects, site assessments, feasibility analysis, assembling development teams, completion of acquisition and sales, obtaining financing, managing construction and project financial management
  • Direct and supervise real estate development staff, volunteers and interns, and manage project consultants
  • Oversee asset management function to safeguard the agency’s assets and optimize cash flow and health of the portfolio
  • Engage in community planning efforts as they relate to real estate development goals
  • Collaborate with program staff on resident service delivery and engagement of tenants, residents, and stakeholders in support of affordable housing development
  • Work with the Executive Director and the Board’s Real Estate Committee to establish affordable housing development goals and objectives, and report to the Board as appropriate, and
  • Participate in coalitions and peer groups at the local/state/national level related to affordable housing and community development.

Requirements

Qualifications

Our ideal candidate is an enthusiastic self-starter who is mission driven and enjoys working with an active and entrepreneurial team. They should have many of the following skills and qualifications:

  • A minimum of five years of experience in the field of housing and community development, including at least two years supervising project management staff
  • A Bachelor’s or master’s degree in a related field such as real estate development, urban studies, business, economics, architecture, or public policy preferred. Additional work experience can be substituted for degrees
  • Familiarity with the community development and affordable housing fields
  • Excellent grasp of real estate development financing, including public and private funding sources, preferably in Massachusetts
  • Experience in all phases of real estate development from conception to occupancy
  • Experience in developing a pipeline of new projects
  • Ability to work with diverse constituents and stakeholders
  • Ability to establish and cultivate strategic relationships for the organization to advance its real estate development agenda
  • Excellent communication, writing and presentation skills and
  • Proficiency in an Asian language a plus.

Compensation and Benefits

Asian Community Development Corporation offers a competitive salary and benefits package.

Starting salaries are determined by the scope of the position and the candidate’s relevant experience and education. The salary range for this position is $130,000-160,000.

Benefits include:

  • Medical/Dental/Vision insurance and flexible spending account
  • Time off: 3 weeks of paid vacation, 13 paid holidays plus the week between Christmas and New Year’s, 6 paid sick days, and 2 paid personal days per year
  • Employer contribution with additional match in 401k for eligible employees, and
  • Optional 4-day, 40hr work week.

How to Apply

The Selection Process

Please submit a cover letter detailing your interest and your qualifications for this position, along with a resume, at https://annlsilverman.com/asian-cdc-director-of-real-estate/.

We encourage all interested candidates to apply. Applicants who don’t have a particular skill or qualification are encouraged to identify how their personal and professional experiences will support their success in the position.
See asiancdc.org for more information about our organization.