Managing Director of Real Estate Development

LOCATION:

Chicago, IL (Hybrid);
In-office at least 2 days per week

Full Circle Communities President and CEO

Senior Vice President of Real Estate and at least two Senior Project Managers

Requires occasional travel throughout Chicagoland area, to Detroit, and Kalamazoo for key stakeholder meetings, public meetings, and construction oversight

$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.

• 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

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.

• Oversee RED Team’s pipeline.
• Achieve three permanent financing conversions.
• Secure three closings/construction starts.
• Submit three to four LIHTC applications and various soft funding applications.
• Manage a 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.
• Continue implementation and updates to Full Circle’s internal Basis of Design Standard.
• Strengthen development pipeline in consultation with CEO and COO, focusing on recapitalization of existing assets and new development in our markets.
• Partner with Finance Team and Asset Management to establish clearer financial underwriting guidance for RED Team.

• 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.

• 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.

• 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.

• 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…