Director of Real Estate

About Invest Chattanooga.

Invest Chattanooga is a public enterprise launched in 2024 to produce financially sustainable, mixed-income housing with deep permanent affordability that the market alone cannot deliver. Seeded with $20 million from the City of Chattanooga, structured through intergovernmental agreements with the Chattanooga Housing Authority and the City, and governed by a public Board of Directors, IC operates as both a capital partner alongside private developers and a lead developer on strategic public and institutional land.

IC is currently working a four-project portfolio totaling 308 housing units, 145 of them permanently affordable. The first project closes in fall 2026, with two more delivering in late 2026. Every IC project carries a minimum 30% permanently affordable units enforced through deed restriction and ground lease covenants.

The Director of Real Estate is anchored on asset management of IC's active portfolio with execution range to lead complex deals as IC's lead-developer work expands. This is a senior early hire on a small team, reporting to the Chief Executive Officer, with real ownership from day one.

• Monitor construction draws, contingency usage, and schedule and budget variance across active projects.
• Lead lease-up and stabilization workflows including occupancy tracking, AMI certification, and NOI variance reporting.
• Manage compliance with deed restrictions, ground lease covenants, AMI re-certifications, and PILOT reporting.
• Lead refinance modeling and recap conversations, with refinance treated as a structural lever for deeper affordability.
• Build and manage IC's bench of three to five property management partners.
• Support deal sourcing and sponsor relationship development; apply IC's screening framework, coordinate Phase 2 diligence, and support underwriting and structuring on new investments.
• Lead IC's execution role on lead-developer projects, including the partnership construct, fee developer relationships, and delivery accountability.
• Prepare quarterly portfolio performance reporting for the IC Board of Directors and lead annual portfolio review against the strategic plan.
• Build and maintain IC's asset management dashboard, deal management infrastructure, and institutional knowledge base.

• Five or more years of professional experience in real estate finance, asset management, or housing development. Seven or more preferred.
• Direct experience monitoring multifamily or mixed-use projects through construction, lease-up, and stabilization.
• Working knowledge of mezzanine debt and equity structures, common LP-GP arrangements, and ground lease mechanics.
• Familiarity with property management oversight, compliance monitoring, and AMI certification.
• Experience with affordable housing capital sources, including LIHTC awareness, CITC, philanthropic capital, and CDFI financing.
• Comfort working with sponsors, public partners, and board members across different professional cultures.
• Comfort with AI-augmented research, modeling, and knowledge-management tools. IC operates with a lean, AI-leveraged staffing model.
• Bachelor's degree in a related field required; advanced degree or professional credential preferred. Equivalent experience may be considered.

$120,000 to $145,000 base, commensurate with experience. Health, vision, and dental insurance; LTD and life insurance; paid vacation, sick leave, and holidays; 403(b) matched contribution retirement plan.

Chattanooga, TN. In-person with flexible hybrid. Relocation expected. Full-time, exempt.

Invest Chattanooga does not unlawfully discriminate in hiring or in any of the terms or conditions of employment because of an individual's race, age, religion, gender, pregnancy or conditions related to pregnancy, national origin, creed, color, military service or veteran status, disability, genetic information, sexual orientation, gender identity, gender expression, or any other characteristic protected by applicable local, state, or federal law.