Sr. Development Officer

VIRGINIA HOUSING   Glen Allen, VA   Full-time     Education
Posted on February 24, 2023
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We're looking for amazing people! Come join Virginia Housing as a Senior Development Officer.

The Senior Development Officer works to evaluate loan requests and make recommendations for financing to further Virginia Housing's mission and strategic priorities. The ideal candidate will have a solid grasp of multifamily real estate fundamentals, with the energy and interest in further developing those skills with an emphasis on promoting affordable and workforce housing. This important role has responsibility for commercial/multifamily loan production and underwriting. Virginia Housing's rental housing loan program includes new construction, adaptive reuse, acquisition, and substantial renovation projects.

Responsibilities will include:
  • Evaluate loan application packages to assess project design, cost, and general feasibility including the financial strength and experience of owners, general contractors, and other stakeholders.
  • Serve as primary point of contact with the customer/mortgage banker, development team, and functional areas within Virginia Housing for assigned loans.
  • Review third-party reports including appraisals, environmental inspections, and property condition assessments.
  • Present development proposals and related recommendation to Virginia Housing Loan Committee for approval.
  • Develop a comprehensive understanding of the deal structure, development team, appropriateness of the financing request, as well as conformance with Virginia Housing lending policy and loan program requirements.
  • Coordinate the onboarding, underwriting, approval, closing, and draw processes, working with other functional areas within Virginia Housing.
  • Review and approve construction draws, loan closing draws, cost certifications, building permits, certificates of occupancy and other documents.
  • Present architectural and civil drawings to the Design & Construction Group for review for adherence to the Authority's construction standards.
  • Maintain an awareness of market trends and conditions both nationally and within Virginia Housing's lending footprint.
  • Mentor junior staff in their development.

Qualified candidates must possess:
  • Bachelor's degree, or equivalent experience in Real Estate Finance, Business, Economics, Mathematics or Urban Planning.
  • Many years of senior-level real estate experience in the multifamily or commercial area.
  • Strong negotiating skills.
  • This position requires incumbents to drive for Virginia Housing business purposes. Therefore, incumbents must possess and maintain a valid driver's license.

Preferred experience includes:
  • Advance degree in Real Estate, Business, Finance, Economics, Mathematics or Urban Planning.
  • Experience with affordable housing programs including Federal Housing Tax Credits.
  • The associate should be a self-starter with strong interpersonal, and organizational skills, and a demonstrated ability to effectively and proactively provide senior-level development knowledge, exercise good business judgment, work with senior management and implement policies and processes.

Virginia Housing is one of the nation's premier housing finance organizations. Our mission is to help Virginians attain quality, affordable housing, which we accomplish through our public-private partnerships.

We are focused on employee engagement and committed to a healthy and diverse workforce. We offer on-site conveniences such as a fitness center, walking trails, and free parking. Educational opportunities to help your advancement are available through classroom and online programs.

Applications and resumes are accepted online only at .

This position will remain open until filled.

Hybrid work model (3 days in office, 2 days remote)

Hiring Range: $99,239 - $129,008

A background check will be performed as a condition of employment.