LIHTC Industry Jobs:
Asset Manager
Posting Date: December 3, 2007
Closing Date: Until filled
Title: Assett Manager
Company: Delridge Neighborhoods Development Assn.
Location: Seattle, WA
Description:
Delridge Neighborhoods Development Association is a community development corporation serving the Delridge and White Center areas. DNDA strives to develop affordable housing, commercial and community facility projects that support a thriving community, with a focus on preserving and enhancing income diversity, community engagement, and environmental sustainability. Over the past 11 years, DNDA has completed eight property preservation and development projects, and currently owns and operates 144 units of affordable housing and a major cultural arts center.
JOB OVERVIEW:
DNDA is seeking an experienced Asset Manager to ensure strategic and effective management of those assets to meet the organization s mission and maintain long-term financial sustainability. As a new position for DNDA, the Asset Manager will be responsible for developing and formalizing the asset management function within the organization. Preliminary goals will be to assess the physical condition of DNDA s properties, evaluate current and long-term financial health, develop financial projections, and make recommendations to ensure the on-going financial sustainability of DNDA s properties. The Asset Manager will work closely with the Executive Director, Finance Director, Property Development staff and DNDA s contract property manager to develop an effective system for asset management, inform new real estate development, and plan strategically for the future direction of the organization.
This is a half time position. However, for a person with the appropriate skills, this position may be combined with a half time Property Developer position which is being filled concurrently. DNDA is a dynamic workplace with flexible schedules. DNDA offers benefits to all employees working at least 20 hours per week.
REQUIRED QUALIFICATIONS:
Education: Bachelor Degree required with degree in business, architecture, urban planning, community development or related field preferred.
Key qualifications and experience:
• Five years in asset management with residential properties or closely related field
• Project management experience and/or extensive knowledge of multi-family building systems, including design issues and construction materials and methods
• Thorough understanding of complex private and public debt financing and equity for typical affordable housing development projects
• Ability to understand and work well with government, private investors and lenders, community organizations and other service organizations
• Capacity to manage multiple projects independently
• Ability to work effectively with people of diverse personalities, cultures and communication styles
• Established analytical thinker, troubleshooter and creative solution provider .
• Demonstrated ability to communicate and persuade, with exceptional oral and written skills in the presentation of ideas and concepts
• Facility with computers and standard software, particularly Microsoft products, used to generate financial feasibility analysis, cash flows and proformas
• Knowledge of, or desire to learn, environmentally sustainable building operations practices
• Strong leadership skills, including accountability, decision-making, delegation, diplomacy, integrity, cooperation, interpersonal relations, and vision
• Commitment to the goals and principles guiding DNDA s work.
Additional preferred qualifications:
•Residence in or familiarity with the Delridge Neighborhoods, White Center, or the broader West Seattle peninsula.
DNDA is an equal opportunity employer committed to diversity in the workplace.
Responsibilties: Analysis and Planning for Existing Properties
Work closely with the property management company to review, assess and make recommendations about execution of regular maintenance:
•Plan and provide oversight for major repair and capital improvements to existing buildings. Participate in development of scope of work and financial planning for major renovations, possibly including some day to day construction management of such projects.
•Review and provide input about the general approach to building maintenance and preventative maintenance plans.
•Review and analyze overall repair and maintenance needs, internal capacity, and recommend changes and best approach to meet current and future portfolio needs.
•Review property financial reports and work with property manager to maximize property performance and streamline operations.
Review, monitor and provide input for preparation of annual operating budgets for all buildings
•Work with property management to complete annual reporting for funders and investors
•Design system for and oversee capital needs assessments.
•Analyze reserve levels relative to short- and long-term needs.
•Oversee and recommend reserve policies and practices.
•Do periodic property inspections.
•Meet regularly with DNDA Community Builder, property management and service provider staff to oversee tenant relations, marketing, compliance and property staffing issues.
•Provide staff representation to 3 condominium associations.
Planning for New Properties
Provide asset management expertise to development staff during the due diligence phase of property acquisition and particularly with the financial planning and projections
Participate in transition from construction completion to property management operations.
Assess need for additional capital improvements not included in initial development phase and oversee tracking and completion of these projects
General DNDA Staff/Team Responsibilities
Assist in the development of DNDA's business/strategic plan. Provide input and feedback as appropriate.
Assist in the development of the annual operational plan, budget and performance goals.
Assist in developing philosophy and policies covering community development, administration, office management and business operations/systems.
Coordinate regularly with Executive Director on daily business operations. Attend monthly staff meetings and bring prepared materials as appropriate.
Assist in ensuring compliance with all federal and state regulations of employment, tax and real estate law.
Apply:
Send resume, cover letter and three professional references to Philippa Nye via email. The email address is philippan@dnda.org. The positions are open until filled.