MANAGING DIRECTOR OF REAL ESTATE DEVELOPMENT at BANNER PROPERTY MANAGEME LLC

Chicago, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

17 Sep, 26

Salary

200000.0

Posted On

19 Jun, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Affordable Housing Development, Financial Underwriting, Project Management, Risk Management, Stakeholder Engagement, Budgeting and Forecasting, Contract Negotiation, Staff Supervision, Strategic Planning, LIHTC Applications, Construction Oversight, Public Speaking, Analytical Skills, Technical Drawing Interpretation, Community Engagement, Corporate Governance

Industry

Real Estate

Description

Please Note: Communications regarding this position may include the company name “Banner Property” and should be deemed legitimate. LOCATION: Chicago, IL (Hybrid); In-office at least 2 days per week REPORTS TO: Full Circle Communities President and CEO DIRECT REPORTS: Senior Vice President of Real Estate and at least two Senior Project Managers TRAVEL: Requires occasional travel throughout Chicagoland area, to Detroit, and Kalamazoo for key stakeholder meetings, public meetings, and construction oversight COMPENSATION: $185,000- $200,000. In line with our commitments to internal equity, we will not hire someone at this job level below or above the stated range. *BENEFITS: At Full Circle Communities, our benefits are designed to support your well-being, growth, and day-to-day life. The goal is simple: make sure you have what you need to do your best work while maintaining balance. * Hybrid work environment with up to three remote days per week * 11 days of paid vacation, plus 12 company holidays and 3 floating holidays * Employer-supported medical, dental, and vision benefits * Paid parental leave * SIMPLE IRA with up to a 3% employer match * Employee Assistance Program * Up to $5,250 annually for professional development and education assistance * Mission-driven work with opportunities for growth and advancement ---------------------------------------- POSITION SUMMARY: The Managing Director of Real Estate Development (MD-RED) is a position of critical importance to Full Circle’s growth and stability. This position is responsible for driving the activities of the Real Estate Development (RED) team, emphasizing operations, policies, and procedures. The MD-RED works with other senior leadership to improve expertise and teamwork between departments in support of Full Circle’s mission: to increase access to affordable housing through preservation and development, thoughtful design, and the provision of significant and targeted services to our residents. Within 6-12 months in the role, a successful MD-RED will: * Oversee RED Team's pipeline: * Three permanent financing conversions * Three closings/construction starts * Three to four LIHTC applications and various soft funding applications * Oversee nine person RED Team to ensure timely collection of scheduled developer fee installments * Establish and staff a clear cadence for the Development Committee of the Board of Directors * Continued implementation and updates to Full Circle’s internal Basis of Design Standard * Strengthen development pipeline in consultation with CEO and COO, with a strong focus on recapitalization of several existing FCC assets and new development in our existing markets * Partner with Finance Team and Asset Management to establish clearer financial underwriting guidance for RED Team In pursuit of this mission, the MD-RED’s duties shall include: Real Estate Development Execution (25%) * Oversee acquisition, financing, design, and construction activities across the development portfolio. * Guide the selection of development opportunities and key members of project teams. * Lead negotiations and provide direction on loan documents, partnership agreements, and third-party contracts. * Support strategic decision-making on deal structures and major project milestones. Development Finance Oversight & Risk Management (30%) * Provide financial oversight for the real estate development portfolio, including revenue forecasting and expense management. * Monitor development pipeline risks and evaluate potential financial impacts. * Oversee pre-development expenditures and establish financial benchmarks for proposed developments. * Manage developer fee projections, contingent liabilities, and overall corporate exposure. * Prepare monthly reports and analyses for executive leadership and the Board of Directors. Organizational Strategy & Leadership (15%) * Partner with the CEO, leadership team, and Board of Directors to establish strategic priorities and organizational goals. * Develop and implement business plans, work plans, policies, and procedures. * Work collaboratively across departments to ensure alignment and effective execution of organizational initiatives. * Serve as a member of the leadership team and help shape the organization's direction. Talent Management & Staff Development (20%) * Lead and supervise senior members of the Real Estate Development team. * Define performance expectations and manage department staffing and workload allocation. * Ensure appropriate training and professional development opportunities for staff at all levels. * Recommend promotions, compensation adjustments, and succession plans for department personnel. * Foster a culture of accountability, collaboration, and continuous improvement. External Relations & Stakeholder Engagement (10%) * Serve as a senior ambassador for Full Circle Communities, cultivating and maintaining strong relationships with public agencies, elected officials, community partners, lenders, and industry stakeholders. * Advance the organization's strategic priorities through active participation in local, regional, and state initiatives that shape affordable housing and community development policy. * Lead community engagement efforts for development projects, representing FCC at neighborhood meetings, public hearings, and other forums while building trust and fostering productive partnerships. * Act as an organizational spokesperson and thought partner, strengthening FCC's reputation and ensuring the organization is effectively represented across external audiences and key constituencies. REQUIRED SKILLS AND ABILITIES Required Qualifications * Bachelor’s degree or appropriate professional experience may be substituted for a degree * 12+ years of direct experience in affordable housing development with extensive technical knowledge and demonstrated ability to structure complex private and public debt, equity, and grant funding for affordable housing development projects * Substantial experience with architectural and engineering design and construction materials and methods, including the ability to read technical drawings * Completed multiple affordable housing development projects in a leadership role such as Project Manager, Senior Project Manager, or Vice President. * Capacity to exercise considerable initiative, independent judgment, assess risk, and communicate around typical acquisition, financing, construction, legal, and design issues * Effective communicator verbally and in writing, with well-developed analytical, negotiation and public speaking skills * Prior supervisory experience in the affordable housing field with demonstrated ability to supervise staff, mentor, train and provide feedback * Ability to collaborate with and lead a wide variety of individuals and groups * Works productively under pressure and demonstrates ownership of work and outcomes Our strongest candidates will have: * Sustained exemplary performance as a senior member of an affordable housing development team * Completed 10+ affordable housing developments in a leadership role * 5+ years of supervisory or management experience in the affordable housing field ---------------------------------------- Why Join Full Circle? Full Circle Communities’ mission is to expand access to quality affordable housing through preservation and development, thoughtful design, and the provision of significant and targeted supportive services to our residents and the surrounding communities. We are a non-profit developer, owner, and manager of affordable housing. We currently have ownership/affiliated interests in and/or manage over 1,200 apartment units in Illinois, Iowa, and Michigan. We achieve our mission collaboratively – with our residents, our communities, our industry partners, and our fellow employees. We seek committed, enthusiastic individuals who are inspired by our mission and energized by the opportunity to create and operate service-enriched affordable housing. We invest in our team members' growth because we believe our success depends on growing together. In return, you'll find a collaborative environment where your contributions are valued, your ideas are welcomed, and your professional development is supported. To learn more about our portfolio and the on-site services that we provide, please visit http://www.fccommunities.org/ [http://www.fccommunities.org/]. Pre-Employment Requirements: final candidates will be required to pass a background check and provide professional references Full Circle Communities is proud to be an equal opportunity employer, and while we have a set of preferred qualifications listed, if you have other experience that you think is related, please apply. ---------------------------------------- *Benefits may vary based on role, location, and employment status. Eligibility requirements and additional details are provided during the hiring process and outlined in the employee handbook.

Responsibilities

The Managing Director oversees the Real Estate Development team, driving operations, policies, and the execution of affordable housing projects. This includes managing the development pipeline, financial oversight, and maintaining relationships with public agencies and stakeholders.