Director of Operations, Division of Portfolio Management & Conversions

About The Agency

The Department of Housing Preservation and Development (HPD) oversees housing standards across all 3.7 million homes in New York City. The Department of Housing Preservation and Development (HPD) oversees housing standards across all 3.7 million homes in New York City. As the nation’s largest municipal housing agency, HPD is responsible for building and preserving affordable housing, protecting tenants from harassment and displacement, and holding landlords accountable across the five boroughs.

Under Commissioner Dina Levy and the Mamdani Administration, HPD is pursuing an ambitious housing agenda focused on the needs of New York’s tenants. With a broad set of tools including standards enforcement, tenant resources, and the creation of new affordable housing, HPD is committed to making New York City a more affordable place for renters and homeowners alike.

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of eight divisions that administer a range of programs. These divisions include Portfolio Management & Conversions, New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Home ownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement, and Housing Incentives.

The Division of Portfolio Management & Conversions (PMC) manages development projects after closing with an initial loan to manage rent restructuring and conversion to permanent financing, to deploy rental assistance to tenants prior to project stabilization, to ensure projects’ adherence to program and accounting requirements, and to facilitate timely completion. As a relatively new division in the OOD, PMC administers multiple programs areas including Conversions & Rental Assistance, Requisition s, and Construction Monitoring & Completions.

Within OOD, PMC collaborates especially closely with the Division of Preservation Finance (PF) on a substantial shared portfolio of projects. As a result, PMC and PF share additional executive and operational support, including an Associate Commissioner and an Executive Director of Policy and Operations, that support both divisions.

The Conversions team oversees the conversion of construction loans to permanent financing, a critical checkpoint for HPD to ensure that development teams have adhered to program requirements, and to set up these projects for long‑term success for decades to come. The unit also oversees rent restructuring, a process through which HPD resets rents in a project in accordance with various laws, regulations, and program policies, and which is a critical tool to ensure housing affordability and long‑term project stability.

All of this involves managing due diligence requirements, managing multiple external stakeholders to overcome barriers to achieving these milestones, establishing new rent‑stabilized rents, and close coordination with a broad array of HPD staff. The Rental Assistance team plays a key role in ensuring tenants in HPD‑financed affordable housing are able to access rental assistance, and that projects reach rental achievement targets in a timely manner in order to convert to permanent financing.

This work includes direct outreach and assistance to tenants, reviewing tenant income certifications for projects that provide preferential rent offers, and close coordination with the Division of Tenant and Owner Resources around the provision of rental assistance to eligible households. The Requisition unit is responsible for the financial administration, implementation,…