Director of Development

One Canopi (Butler Metropolitan Housing Authority) Position Summary

The Director of Development provides strategic and operational leadership for One Canopi’s affordable housing development activities. The position identifies and advances new construction, acquisition, rehabilitation, preservation, recapitalization, and redevelopment opportunities; assembles complex capital stacks; and leads projects from initial concept through financing, construction, stabilization, and transition to operations.

A central measure of success is building a disciplined, sustainable development pipeline that expands affordable housing and generates revenue through developer fees and related development income. The Director balances mission, financial performance, risk, compliance, design quality, community impact, and long-term asset viability while representing One Canopi with public, private, nonprofit, and community partners.

The following duties are representative of the position and are not intended to be all-inclusive.

• Develop and execute a multi-year affordable housing development strategy aligned with One Canopi’s mission, strategic plan, portfolio needs, and financial objectives.
• Source, evaluate, and prioritize opportunities involving new construction, acquisition, rehabilitation, preservation, RAD-related redevelopment, mixed-income housing, and other mission-aligned real estate initiatives.
• Maintain a credible development pipeline and stage-gate process, including project schedules, decision points, staffing plans, capital needs, risks, and projected developer-fee revenue.
• Conduct or oversee site identification, market analysis, feasibility studies, due diligence, zoning and entitlement review, environmental review, and preliminary financial modeling.
• Recommend whether opportunities should proceed, be restructured, partnered, deferred, or discontinued based on mission impact, feasibility, return, and risk.

• Structure and secure financing using multiple public and private sources, which may include Low-Income Housing Tax Credits, tax-exempt bonds, HOME, CDBG, National Housing Trust Fund, Federal Home Loan Bank programs, HUD programs, state and local funds, grants, conventional debt, philanthropic capital, and other available resources.
• Lead funding applications, requests for proposals, lender and investor submissions, underwriting responses, and financial closing activities in coordination with legal, financial, and technical advisors.
• Develop and review sources-and-uses statements, development budgets, operating pro formas, cash-flow projections, fee schedules, funding draws, guarantees, and sensitivity analyses.
• Negotiate letters of intent, purchase agreements, development agreements, partnership documents, financing terms, consultant contracts, and other transaction documents within delegated authority.
• Ensure project structures comply with funding requirements, procurement obligations, fair housing and accessibility standards, and applicable federal, state, and local requirements.

• Establish annual and multi-year goals for developer fees and other development-related revenue, supported by realistic project timing, eligible basis, financing structure, cash-flow assumptions, and risk analysis.
• Maximize earned developer fees consistent with program rules, project feasibility, investor and lender requirements, and One Canopi’s risk tolerance.
• Track projected, earned, deferred, and received developer fees by project; provide timely forecasts and variance explanations to executive and finance leadership.
• Identify strategic partnerships, co-development opportunities, consulting…