Asset Stabilization Manager

Help Restore and Strengthen Affordable Housing Communities

Northwest Housing Alternatives (NHA) is seeking a mission-driven Asset Stabilization Manager to lead the turnaround of underperforming affordable housing properties across our portfolio. This is a unique opportunity for a housing professional who thrives on problem-solving, operational improvement, and collaborative leadership.

In this high-impact role, you will identify and address financial, operational, physical, and compliance challenges; develop and execute stabilization strategies; and partner with property management teams, lenders, investors, funders, and regulatory agencies to restore long-term asset performance.

The Asset Stabilization Manager serves as NHA's lead resource for distressed and at-risk properties. Unlike traditional asset management positions, this role focuses on short-term, high-priority stabilization and recovery efforts designed to restore assets to sustainable operations. The successful candidate will maintain a smaller portfolio and spend approximately 50% of their time onsite assessing challenges and supporting the implementation of solutions.

At NHA, we believe stable housing creates opportunity. We are committed to equity, resident dignity, and community impact, and we seek team members who share those values.

For over 40 years, Northwest Housing Alternatives (NHA) has been a leading not-for-profit developer of affordable housing in Oregon with a mission to create opportunities through housing. NHA develops and maintains rental housing designed for Oregonians with limited incomes. These homes help families live healthy and stable lives, allow older adults to age in place, and give people with special needs a dignified residence.

Additionally, NHA provides services that connect residents to critical health and community resources, work to prevent homelessness before it begins, and offer emergency shelter and services for families experiencing homelessness.

NHA is committed to building a culturally diverse and inclusive work environment, and we strive to hire a workforce that is representative of the communities we serve, understanding that a diverse workforce strengthens everything we do. NHA offers a great work environment having been awarded “100 Best Nonprofits to work for in Oregon” again in 2019 and 2024. The NHA staff team is dedicated and passionate about our work.

NHA provides a robust range of employee benefits:

• A competitive pay structure to cultivate long-term tenure.
• Excellent health coverage through Kaiser Permanente, including multiple medical and dental plan options; NHA contributes 100% of the cost of coverage for the employee each year, plus an additional $250/month if the employee adds dependents. Alternative care and vision are included in some plans.
• Up to a 7% annual retirement match, after the first year of employment through a 403(b) plan.
• Generous vacation and sick leave accruals.
• Bank of paid holiday leave equivalent to 10 days that employees may use at their discretion.
• Cell phone reimbursement work-from-home furniture reimbursement.
• Hybrid work environment supportive of work and life balance.

• Oversee a focused portfolio of properties requiring stabilization.
• Conduct diagnostic assessments and identify key contributing factors including market and management concerns, physical condition, and regulatory and structure issues.
• Design tailored stabilization plans and engage stakeholders and project partners.
• Directly support management interventions.
• Partner with other NHA teams, including Residents Services, on turnaround efforts.

• Minimum of four years of experience across Property Management (including direct leasing experience) and/or Asset Management fields; direct experience with distressed asset management or financial workout preferred.
• Knowledge of affordable housing finance programs and compliance requirements, including LIHTC, HUD, and OHCS programs, and related regulatory frameworks.
• Demonstrated ability to analyze complex financial, physical, and operational data; develop…