Director of Development

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Full Time Memphis, TN, US

4 days ago Requisition

The Memphis Housing Authority (MHA) is looking for a dependable Director of Development to join our team! The Director of Development is the Authority's senior leader responsible for identifying, evaluating, structuring, financing, and executing real estate development opportunities that advance MHA's mission while expanding sustainable, revenue-generating lines of business. The Director leads the full development lifecycle—from concept and feasibility through financing, construction, lease-up, stabilization, and transition to operations—and pursues appropriate developer fees, construction management fees, consulting revenue, cash flow, and other mission-aligned returns.

This position reports to the Chief Executive Officer.

The Director manages Development Department project staff, directly oversees the Capital Improvements Manager, and coordinates the work, schedules, priorities, and performance of the Capital Improvements Department. The position works closely with the Asset Management Director on RAD and other repositioning strategies and collaborates across MHA, governmental agencies, lenders, investors, developers, consultants, residents, and community partners. All activities must support MHA's mission, strategic goals, and objectives.

All activities must support the MHA (or "Authority") mission, strategic goals, and objectives.

The statements contained here reflect general details as necessary to describe the principal functions of this job, the level of knowledge and skill typically required and the scope of responsibility but should not be considered an all-inclusive listing of work requirements. Individuals may perform other duties as assigned including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.

The position description is in compliance with Americans with Disabilities Act requirements.

• Develop and maintain a strategic real estate development and revenue-growth pipeline aligned with MHA's mission, portfolio needs, available land, neighborhood priorities, and Board-approved strategic direction.
• Identify, source, and vet acquisition, rehabilitation, new construction, redevelopment, disposition, joint-venture, consulting, and construction management opportunities.
• Direct preliminary due diligence, site and market analysis, development feasibility, financial modeling, risk assessment, partner capacity review, and go/no-go recommendations.
• Prepare business cases and recommendations that clearly present mission impact, financial returns, risks, resource requirements, timing, and decision points to the CEO and Board of Commissioners.
• Establish project schedules, budgets, risk registers, and performance dashboards for the development pipeline.
• Structure and negotiate development transactions, financing plans, partnership arrangements, development agreements, ground leases, management agreements, and related business terms in coordination with legal and financial advisors.
• Identify, secure, and administer public and private funding sources, including Low-Income Housing Tax Credits, tax-exempt bonds, RAD resources, FHA-insured financing, HOME, CDBG, Federal Home Loan Bank programs, grants, conventional debt, philanthropic capital, and other available sources.
• Evaluate capital stacks, eligible basis, sources and uses, operating pro formas, cash flow, developer fee timing, guarantees, long-term obligations, and sensitivity scenarios.
• Develop and execute strategies to generate and protect sustainable developer fees, construction management fees, consulting fees, asset management fees, and stabilize cash flow consistent with law, program rules, and MHA policy.
• Coordinate financial and legal closings and ensure completion of required approvals, commitments, due diligence, and closing deliverables.
• Partner with the Asset Management Director to develop and implement strategies for repositioning MHA's remaining public housing portfolio, including RAD, Section 18, RAD/Section 18 blends, Faircloth-to-RAD, and other HUD-approved tools.
• Coordinate assessments, resident and stakeholder engagement, relocation planning, financing, development scope, ownership and operating structures, HUD…