Real Estate Development Officer

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Full Time Regular Providence, RI, US

Salary Range: $75,222.00 To $ Annually

Please note:

This pay range represents the base annual full-time salary for all positions within this job grade. The actual salary offered will depend on factors such as experience and other job-related qualifications.

We are seeking a dynamic professional to serve as a Real Estate Development Officer within RIHousing's Real Estate Development Department. This position is accountable for reviewing, underwriting, and closing loan applications in a prudent, timely, and cost-effective manner to support the construction, rehabilitation, and/or transfer of multifamily rental properties in accordance with applicable laws and regulations and RIHousing program requirements.

This is a hybrid position based in Providence, Rhode Island, where you will be an integral part of our
Development
team. The role is designed for in‑person collaboration and active engagement within our office environment.

• Review, underwrite, and close assigned development proposals, including production proposals, loan restructurings, and asset transfers, in accordance with prudent credit and underwriting standards, applicable regulations, and RIHousing funding policies and priorities.
• Analyze the completeness and compliance of applications and evaluate site suitability, marketability, development team capacity, financial feasibility, and overall project feasibility; identify and resolve underwriting issues and deficiencies in collaboration with applicants and internal staff.
• Manage approximately 7–10 active development proposals at a time, with typical total development costs ranging from $2.5 million to $15 million. Proposals generally involve complex, multi-source financing, including taxable or tax‑exempt bonds, housing tax credits, federal HOME funds, and other debt and equity sources.
• Coordinate with applicants and a diverse range of stakeholders, including nonprofit sponsors, for‑profit developers, investors, local officials, regulatory agencies, and public organizations, to facilitate successful project review and completion.
• Prepare funding recommendations, Board presentations, commitment letters, correspondence, technical and status reports, schedules, and other documentation necessary to support project approval, closing, and ongoing file management.
• Monitor and coordinate internal processes to facilitate timely and effective loan closings and ensure project assignments are completed in accordance with established deadlines.
• Promote RIHousing programs by communicating program information to clients and stakeholders through correspondence, meetings, public forums, and other outreach activities in a timely, courteous, and professional manner.
• Participate in the development and implementation of