Project Manager

Summary Project Managers participate in the development process from initial feasibility of the development concept, through obtaining site control and entitlements, securing and closing on construction and permanent financing, and transitioning the project to operations.

At CSI, this work involves preserving and renovating existing HUD-assisted senior cooperatives, construction of new senior cooperatives, and acquisition of affordable senior buildings and transitioning them to cooperative management.

This position will work throughout CSIs portfolio in Michigan, Maryland, California, and Massachusetts.

Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Development Projects (70% of time) Under the supervision of senior department staff, Project Managers will initially support senior staff on assigned projects and, within 1218 months, will independently lead three to five projects (depending on complexity) at any one time.

Tasks will include: In coordination with finance analysts and the construction department, assist in making initial assessments of project feasibility, incorporating an understanding of expected rents and operating expenses; existing financing, rental subsidy and property tax agreements; expectations of local approvals; development and/or rehabilitation costs; and potential financing sources.

In coordination with the finance department, develop the feasibility analysis into project budgets and a schedule from funding application to financial closing.

Identify and anticipate impediments to closing and potential solutions to overcome them.

Lead project due diligence, including commissioning third-party reports by appraisers, environmental consultants, market analysts, and title companies, among others.

Ensure that reports are completed on schedule and that findings are incorporated into the development plan, timeline, and budgets.

Prepare applications for 4% and 9% low-income housing tax credits (LIHTC) through state housing finance agencies in MI, MD, CA and MA, first-mortgage loans (including HUD-insured debt), soft loans and grant sources, based on a thorough understanding of funding program policies and materials.

For projects involving existing HUD financing or rental support, research and secure appropriate authorizations to assume or prepay debt and/or preserve and maximize rental subsidy, including Section 202, PRAC and RAD for PRAC conversions, and Section 8 (PBRA) contract renewals.

Lead the local government entitlement and permitting process.

Coordinate with the construction department to ensure that design, engineering, general contracting, and third-party consultants understand CSIs goals and are working to the project schedule.

Ensure that project commitments for workforce participation (MBE/WBE, Section 3, etc.); prevailing wage (Davis-Bacon); Build America, Buy America (BABA), where applicable; green building and energy conserva...