Director, Regional Development (Affordable Housing)

About Us

Lincoln Avenue Capital (LAC) is a dynamic and entrepreneurial real estate private equity firm that strengthens communities. As one of the fastest-growing developers, investors, and operators of affordable and workforce housing in the country, we provide high-quality, sustainable homes for lower- and moderate-income individuals, seniors, and families nationwide. LAC serves residents across 22 states, with a portfolio of 116 properties comprising of 20,000+ units.

At LAC, our team is our greatest asset. We recognize that our success is directly tied to the dedication, expertise, and passion of our professionals who strive to make a positive impact on the lives of our residents and communities. Our team members work collaboratively to create and implement innovative solutions that bring long-term value to our stakeholders and the communities we serve. We take pride in cultivating a team of top-tier individuals who are committed to excellence, innovation, and results, and we're seeking diverse and talented professionals who share our vision of raising the standards in affordable housing. We invite you to explore opportunities to join our team at LAC!

The Role

We are seeking a Director, Regional Development to join our team at LAC. In this role, you will be instrumental in driving the new construction of affordable housing developments within the states of Minnesota, Michigan, and Iowa. Your contributions will provide vital support to our development team, enhancing our capacity and expanding our portfolio.

As the Director, Regional Development, you will play a pivotal role in the evaluation and execution of property acquisitions and ground-up new construction projects. From conception to project stabilization, you will oversee the entire development life cycle, ensuring the highest standards of performance and leveraging valuable insights from each transaction to shape future developments and drive our mission of raising the standards of affordable housing.

This role reports to our VP & Project Partner, Regional Development of the MN. MI, and IA region. This is a remote role, with a preference for a candidate living in or around Minneapolis.

NOTE: We are open to “associate” level candidate with less experience than the seven years listed below, depending on other experience factors. Compensation commiserates with experience.

What You'll Do

• Obtain debt and equity financing to complete development, including LIHTC, Tax-exempt bonds, FHA and Agency debt, RAD, HOME Funds, CDBG Funds, AHP Funds, and other funding sources as needed.
• Perform special projects or duties as assigned.
• Support the Regional Office’s 4% and 9% new construction LIHTC platform.
• Work with project lenders and all consultants through the process until closing.
• Assist with the training and mentoring of other development team members.
• Work closely with development teams to assess market feasibility, determine financial feasibility, and structure complicated transactions.
• Establish close relationships with key agency staff members, government officials, community members, and state HFAs.
• Help create, implement, and execute successful development opportunities from start to finish, ensuring high-quality investments and best practices.
• Maintain up-to-date proformas that accurately reflect the project budget and financing plan.

Requirements

What You Bring

• Demonstrated experience or knowledge of public and private affordable housing funding resources and subsidy programs, including LIHTC, tax-exempt bonds, and syndication process; ability to combine financing tools to leverage housing funds creatively.
• Passionate and aligned with the company's triple-bottom-line mission: generating appropriate returns for investors and managing great, stable communities for our residents.
• Aptitude for creating strong internal relationships within LAC. Must be a strong collaborator among peer groups within the company.
• Self-starter with the ability to work independently while also being comfortable interacting with and presenting to senior management.
• Detail and process-oriented.
• Perform other duties as reasonably assigned.
• Highly proficient in investment analysis using Microsoft Excel models and investment presentation experience.
• Numbers-oriented with strong analytical skills who can evaluate complex data and provide solutions. Adept at modeling and thinking through investments and the impact of decisions through the investment process on financial outcomes.

Education & Experience

• 7+ years of experience with a proven track record in affordable housing development.
• Experience working with non-profit organizations is a plus.
• Preferably has experience with execution at the granular development level, not just the transaction level, of the development of affordable housing assets and/or ground-up development of affordable housing assets.
• Bachelor's degree in business, finance, urban planning, real estate development, or related field.
• Experience in multiple industry software applications such as Dealpath or Monday.com.

Benefits

The expected base salary range for the role is $125,000 - $150,000. This represents the current range and is subject to change. To determine starting pay we carefully consider a variety of factors, including primary work location and an evaluation of a candidate’s skills, experience, market demands, and internal parity. Our comprehensive total rewards package offers more than just a salary. Benefits include:

• Generous PTO, holidays, and sick time
• Full medical, dental, and vision coverage for you and your dependents
• 401(k) plan with employer matching and immediate vesting
• Employee referral incentives
• Continuous learning and development opportunities
• Performance-based bonuses
• Paid parental leave
• Fun company and team-building events
• Life and disability insurance