Director

Alembic Community Development

Director Job Posting

Job Title: Director, FTE

Organization Overview:

Alembic Community Development is a community development company that makes long‐term commitments to underserved neighborhoods through real estate development, organizational capacity building, and community‐based planning initiatives. The company was founded in 1998 in New York City as a consulting firm to community development organizations, and in 2005 expanded its focus to include real estate development in order to create more equitable joint venture partnerships with nonprofit organizations for affordable and supportive housing development. In 2006, Alembic began its sustained work in the Gulf Coast and established its New Orleans Office in response to communities’ ongoing recovery needs following Hurricane Katrina.

Through its real estate development work, Alembic plans, finances, and builds affordable and supportive housing and community facilities in collaboration with nonprofit organizations and residents in New York City, Louisiana, and Mississippi. To date, Alembic has developed or assisted in developing 22 affordable and supportive housing projects in New York City and New Orleans, totaling more than 2,000 apartments. The company has developed more than 250,000 square feet of commercial and community facility space between the two cities. These projects include gut rehabilitation, new construction, and adaptive reuse development projects with a variety of financing structures. Alembic’s pipeline of current and future projects is robust and evolving as projects transition from ideas to reality.

Position Goals and Objectives:

The Director oversees all phases of an affordable or supportive housing project from predevelopment, construction, through conversion to permanent financing, and serves as the Alembic representative on the development team. The Director works to fulfill Alembic’s mission to develop affordable and supportive housing, often in joint venture partnerships with nonprofit housing and service providers.

Responsibilities:

The Director works independently or with a small team of colleagues through all phases of an affordable or supportive housing project. Responsibilities include:

• Cultivating and nurturing partnerships with nonprofit organizations, government agencies, funders, and other stakeholders.
• Facilitating project identification, site assessment, and feasibility analysis for development.
• Engaging in selecting the development team.
• Directing the development team through all project phases, from conception to completion, ensuring adherence to project timelines, budgets, and quality standards.
• Leading efforts in securing financing from diverse public and private sources, overseeing the preparation of pro formas, and navigating regulatory requirements.
• Engaging in community planning and outreach endeavors, fostering meaningful dialogue and collaboration with local residents and stakeholders.
• Overseeing the construction process, resolving issues, and ensuring effective communication among project stakeholders.
• Managing residential and commercial marketing and lease-up activities in coordination with property managers and commercial brokers.
• Facilitating the transition to permanent financing for completed projects.

Preferred Qualifications and Experience:

The ideal candidate will possess the following qualifications and experience:

• Extensive experience in real estate development, particularly in affordable and Low Income Housing Tax Credit (LIHTC) housing development.
• Demonstrated commitment to community-based development principles and values.
• Previous experience in the nonprofit, government, or for-profit real estate development sectors.
• Proven ability to manage complex development projects involving multiple stakeholders and financing sources.
• Ability to anticipate and address issues as they arise with an understanding of the implications of all possible outcomes, as well as a proactive and detailed approach to problem solving.
• Strong analytical skills, with proficiency in financial modeling, construction management, or asset management.
• Excellent verbal and written communications and interpersonal skills.
• Professionalism and diplomacy in maintaining client relationships.
• Self-motivated with the ability to work both independently and collaboratively under limited supervision.

Salary and Benefits

Alembic Community Development offers a competitive salary and benefits package. The salary range is $165,000 to $195,000, commensurate with experience. The employee benefits package includes:

• 100% employer paid health, vision, dental, disability, and life insurance
• 20 vacation days
• 3 personal days
• 10 paid holidays
• 401(k)
• Hybrid work schedule

Application Procedure

Please email cover letter and resume to: office@alembiccommunity.com

Subject Line: Director Position

Deadline: December 1, 2024

Alembic Community Development is an equal opportunity employer.