Chief Real Estate Development Officer
1801 South Ashland, Chicago, IL 60608
Organization General Description
After 25 years and an initial seed capital of $30,000 from area parishes, The Resurrection Project (TRP) has grown to become a powerful and effective social enterprise that seamlessly blends community development, community organizing, and advocacy with human service delivery to create vibrant, healthier, and involved communities. Our efforts have resulted in leveraging over $431 million in community investment.
General Job Description
To assist the Chief Real Estate Development Officer in proactively managing portfolios of different properties, funds, and assets by providing forecasting, budgeting, and analysis. Serve as the primary analyst for pillar heads, and work with the finance and accounting functions of the organization, including but not limited to, supporting the COO and CEO.
Job Duties and Responsibilities
- Financial modeling of residential and commercial real estate deals typically involving tax credit subsidies; soft and creative financing; business and credit underwriting of transactions with real estate components.
- Compiling, reviewing, and analyzing due diligence materials of real estate transactions.
- Creation, analysis, budgeting, and forecasting of property, department, and business functions operated by the Stewards of Community Assets (SCA) pillar.
- Review and manage annual operating and capital budgets in a timely and accurate manner. Work with the Vice President of Property Management to make value-added budget modifications to maximize cash flows and increase the long-term value of the assets; keep informed and up-to- date on multi-family rental and commercial market conditions and trends, and their impact on each property.
- Review and analyze monthly financial reports, operating statistics, and significant budget variances with explanations.
- Develop and propose company capital expenditure planning priorities, and ongoing maintenance programs, in partnership with the Real Estate Development and Property Management departments.
- Review all monthly physical and financial reports with Property Management. Review plans for major repairs and equipment replacements. Monitor compliance with the approved schedules and the results of their implementation. Advise on any modifications deemed necessary. Be consistent with increasing the value of the assets over the long term.
- Develop and grow analysis and modeling skills based on the project pipeline.
- Prepare any required reporting packages tailored to the needs of each investor, lender, or other interested parties, and assure that information is timely and relevant.
- Visit each site at least twice quarterly and communicate observations to senior management, Property Management, and other relative parties. Work with the Vice President of Property Management to identify opportunities to institute initiatives for cost savings and/or revenue increases.
- Attend and participate in required organizational programs, board, committee and staff meetings.
- Perform other duties as assigned.