Careers at HDC

 

The New York City Housing Development Corporation (HDC) is a public benefit corporation and the nation’s largest municipal Housing Finance Agency.  HDC’s programs support the construction and preservation of multi-family affordable housing in New York City.

HDC is an Equal Opportunity Employer. 
 

Available Positions:

Assistant/Associate General Counsel
HPD-HDC Housing Fellowship
Executive Vice President, Real Estate
Director of Policy and Analytics
Assistant/Associate General Counsel

 

HDC is an Equal Opportunity Employer

Assistant/Associate General Counsel

Area of Talent:     Real Estate

Position Type:      Full Time/Exempt

Location:              NYC/Wall Street Area
 

Position Summary:

The Assistant General Counsel or Associate General Counsel reports to the Deputy General Counsel, Legal Department and serves as counsel for HDC in negotiating, analyzing, structuring and closing secured loan transactions.

Job Responsibilities:

  • Drafts commitments, regulatory agreements, notes and mortgages.
  • Reviews and analyzes due diligence items for real estate transactions, including title.
  • Reviews documents of borrower’s and lender’s counsel.
  • Assists in converting construction loans to permanent loans.
  • Handles general miscellaneous legal duties as assigned.

 

Required Qualifications:

  • Law Degree from an accredited Law School.
  • A minimum of 2 to 5+ years of relevant experience in transactional real estate, corporate transactions and/or public finance.
  • Superior organizational, analytic, and problem-solving skills.
  • Strong communication skills.

 

Interested applicants may email a cover letter with salary requirements and resume  to jobs@nychdc.com or fax to the Human Resources Department at (212) 227-6893.

HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits including health benefits, retirement savings and career development programs.  

 

HDC is an Equal Opportunity Employer

 

HDC is an Equal Opportunity Employer

HPD-HDC Housing Fellowship

Area of Talent:     Affordable Housing/Real Estate/Urban Planning

Position Type:      Full Time/Exempt

Location:              NYC/Financial District

Duration:              8/2/2021-7/31/2023 (2 Years)
 

The New York City Department of Housing Preservation & Development (HPD) and the New York City Housing Development Corporation (HDC) seek highly motivated recent graduates of real estate/urban planning programs or law schools for the HPD-HDC Housing Fellowship Program. Ideal candidates will have a strong academic background and be able to demonstrate a true passion for the development and preservation of affordable housing for New Yorkers. 

Position Summary: 
The HPD-HDC Housing Fellowship is a two-year rotational program designed to expose individual Fellows to New York City government specifically in the field of affordable housing. The Fellowship is designed to provide direct, professional work experience at both HPD and HDC, with the shared mission to create and preserve affordable housing in New York City.   During the two-year program, Housing Fellows will have the opportunity to experience four (4) unique assignments, providing opportunities to learn and experience first-hand the City’s efforts to revitalize New York City’s neighborhoods. 
 

Job Responsibilities:

  • Rotating assignments may include, but not be limited to, exposure to and projects within the following HPD/HDC program areas: new construction; preservation; finance (including tax-exempt and taxable bonds); code enforcement; housing litigation (for legal rotation); neighborhood planning; property management and real estate transactions 
  • Support HPD/HDC team members and project managers in their work related to real estate financial and legal documents and processes.
  • Participate in meetings and/or conferences, building relationships with housing leaders in government, business, nonprofit organizations and academia
  • Use project management tools and processes to ensure assignments and projects are timely, accurate and meeting expectations

 

Required Qualifications:

  • A graduate degree with substantial course work/credits specific to public policy, urban studies, planning, management, finance and/or real estate or a related field;  or a law degree.  Candidates must have obtained graduate or law degree or plan to graduate by May/June 2021.
  • Demonstrated interest in the affordable housing industry
  • Strong interpersonal, verbal, and written communication skills
  • Ability to build relationships with staff, executives and external partners
  • Strong organizational skills with excellent attention to detail

 

Preferred Qualifications:

  • A minimum of 1-3+ years of relevant work experience in affordable housing, real estate finance,  and/or public service.

 

Salary and Benefits:

  • $70,000 annual salary 
  • 15 Vacation Days, 10 Sick Days
  • Pre-tax Commuter and Flexible Spending Account (FSA) Benefits
  • Health Care, Dental and Vision Coverage
  • Life Insurance, Short- and Long-Term Disability Coverage
  • Opportunity to contribute to a pre-tax retirement savings account

 

Interested applicants must email a cover letter, resume and 3 professional letters of reference to housingfellows@hpd.nyc.gov.  Applications are due no later than 2/28/2021. 
 

HPD and HDC are Equal Opportunity Employers.

HPD & HDC actively promote diversity, equity and inclusion as a vital piece of building culture within our teams.  We believe it is the diversity of our workforce, and the broad range of individual characteristics, beliefs, and values of our staff that characterize our fundamental approach to creating more equitable and affordable communities.  As equal opportunity employers, HPD & HDC prohibit discriminatory employment practices against applicants and employees. 
 

The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with advancing the goals of the City’s housing plan – a critical pillar of Your Home NYC, Mayor de Blasio’s comprehensive approach to helping New Yorkers get, afford, and keep housing in these challenging times. For full details visit www.nyc.gov/hpd and for regular updates on HPD news and services, connect with us on Facebook, Twitter, and Instagram @NYCHousing. 
 

The New York City Housing Development Corporation (HDC) is the nation’s largest municipal Housing Finance Agency and is charged with helping to finance the creation or preservation of affordable housing under Mayor Bill de Blasio’s Housing New York plan. HDC also serves as a key financing partner in the rehabilitation of our city’s public housing stock under the NYCHA Permanent Affordability Commitment Together (PACT) initiative. Since 2003, HDC has financed more than 194,000 housing units using over $26 billion in bonds and other debt obligations and provided in excess of $3 billion in subsidy from corporate reserves and other available funds held by the corporation. HDC ranks among the nation’s top issuers of mortgage revenue bonds for affordable multi-family housing on Thomson Reuter’s annual list of multi-family bond issuers. In each of the last five consecutive years, HDC’s annual bond issuance has surpassed $1.7 billion. For additional information, visit: http://www.nychdc.com

 

HDC is an Equal Opportunity Employer

Executive Vice President, Real Estate

Area of Talent:     Real Estate and Affordable Housing Finance

Position Type:      Full Time/Exempt

Location:              NYC/Financial District

 

Position Summary: 

HDC seeks an Executive Vice President for Real Estate (EVP) to lead the agency’s affordable housing development initiatives, including new construction, preservation, and public housing finance and repositioning. At a time when the City faces severe economic challenges and continues to have an acute shortage of safe, quality affordable housing, the EVP will lead a dynamic team poised to aid the City’s recovery. 

As a senior leader with the agency, the EVP helps set the strategic direction for the nation’s largest municipal housing finance agency. The EVP represents HDC to external partners, City agencies, City Hall, and national groups. 

This position reports directly to the President. 

 

Job Responsibilities:

  • Execute financing of a large portion of the nation’s most ambitious affordable housing plan, working closely with the City’s Department of Housing Preservation and Development
  • Working closely with the New York City Housing Authority’s real estate division, arrange financing for the largest public housing recapitalization in the country
  • Lead all development-related activities, including new construction, preservation, and public housing repositioning
  • Coordinate closely with HDC’s asset management and capital markets teams to ensure high quality stewardship of affordable housing through the entire life cycle of a project
  • Lead proactive preservation efforts throughout HDC’s asset management portfolio, including potential refinancing
  • Help create plans to scale up HDC’s development activities in the event of federal stimulus and recovery for affordable housing 
  • Lead and support a growing team of housing development experts 
  • Represent HDC’s development perspective in frequent high-level meetings with partner agencies and City Hall
  • Advise the HDC President and senior team on all matters related to affordable housing development and serve as an executive leader for the agency, including advising on policy, external affairs, partner relations, and more
  • As a member of the Executive Leadership Team, serve as a key advisor on diversity and inclusion, spearheading new initiatives and practices that will further enhance HDC’s commitment to a strong, inclusive and engaged organization
  • Serve as a voting member on the HDC Credit Committee
  • Help create new, innovative policies and financing structures to meet the City’s changing needs

 

Required Qualifications:
  • Minimum of ten years related experience in affordable housing development, including at least five years of experience in senior-level management
  • Expertise in new construction and preservation finance. Experience with public housing financing and repositioning and asset management preferred 
  • Must possess excellent problem-solving skills and sound business judgment 
  • Demonstrated commitment to public service

 

Interested applicants may email a cover letter with salary requirements and resume to jobs@nychdc.com or fax to the Human Resources Department at 212-208-2917.  

HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits including health benefits, retirement savings and career development programs.    

HDC is an Equal Opportunity Employer

HDC is an Equal Opportunity Employer

Director of Policy and Analytics

Area of Talent:     Finance and Underwriting

Position Type:      Full Time/Exempt

Location:              NYC/Wall Street Area

 

Position Summary:

The Director of Policy and Analytics supports the Vice President of Policy and Analytics and HDC’s senior and executive leadership in the development and analysis of high-priority programs, proposals, and initiatives that address the most critical housing issues facing HDC and the City. Although the Director’s individual contributions will frequently involve financial analysis and underwriting, the work is multidisciplinary, and projects will often consider intersecting issues of affordable housing, finance and the markets, economic and social policy, social equity, governance, management, and technology. In this highly collaborative role, projects often have interdepartmental and interagency impact. Accordingly, the Director will consult and facilitate teams of subject matter experts, advise and solicit feedback from senior leadership, and work as directed with various partner agencies, including the New York City Department of Housing Preservation and Development, New York City Housing Authority (NYCHA), and City Hall.

Responsibilities:

  • Review, analyze, and recommend improvements to new proposals, including lending/financing products, legislation/regulation impacting housing, policy platforms/plans, and business processes.
  • Develop and analyze financial and underwriting models that underpin programs and novel financing approaches; consider their feasibility, effectiveness, economic/budgetary impact, and efficiency.
  • Monitor the policy environment and market to identify emerging issues/challenges, best practices, innovative approaches, and new resources.
  • Use quantitative and qualitative evidence and external expert research to justify recommendations and shape decisions of senior leadership.
  • With the support of the Vice President and project teams, build out business processes and implementation plans for proposals maturing out of the conceptual stage.
  • With the support of the Vice President, facilitate and support interdepartmental stakeholder groups tasked with reviewing proposals and implementing new programs and business practices.
  • Serve as a thought partner to brainstorm solutions to emerging policy challenges.
  • Provide ad hoc analytical support for the preservation of the city’s public housing stock in close coordination with HDC’s Public Housing Finance and Lending Strategies unit and NYCHA.
  • Execute basic data analysis and visualization in Excel as needed for various projects.
  • Design model shells and data collection tools in Excel as needed to support the implementation or evaluation of new initiatives or serve the analytical needs of colleagues.
  • Draft memorandums and deliver presentations communicating background research, proposal content, analysis findings, recommendations, policy considerations, and work status.
  • With the support of the Vice President, define work plans; plan and execute analyses to balance rigor, clarity, and action; and ensure client-readiness of deliverables.
  • Undertake special projects/initiatives as requested.

 

Requirements:

  • Bachelor’s degree with substantial coursework/credits specific to business, economics, urban planning, public policy, sociology, statistics, or a related field; a minimum of 3 years of relevant experience in real estate lending, development, finance, urban planning, policy analysis, management consulting, or related field; or a satisfactory combination of education and/or experience equivalent to the above.
  • Proficiency using financial models and employing financial concepts.
  • Experience managing proprietary information and policy considerations with integrity.
  • Demonstrated interest in the affordable housing industry.
  • Strong interpersonal, verbal, and written communication skills.
  • Ability to build relationships with staff, executives, and external partners.
  • Strong organizational and project management skills with excellent attention to detail.

 

Preferred Qualifications:

  • Graduate degree in related field.
  • Direct experience in real estate lending or development.
  • Knowledge of federal, New York State, and New York City affordable housing programs and the development process.

 

Interested applicants may email a cover letter with salary requirements and resume to  jobs@nychdc.com or fax to the Human Resources Department at (212) 227-6893.

HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits including health benefits, retirement savings and career development programs. 

HDC is an Equal Opportunity Employer

 

 

HDC is an Equal Opportunity Employer

Assistant/Associate General Counsel

Area of Talent:     Public Finance/Legal

Position Type:      Full Time/Exempt

Location:              NYC/Wall Street Area

 

Position Summary:

The Assistant General Counsel or Associate General Counsel reports to the Deputy General Counsel, Legal Department and serves as counsel for HDC primarily to analyze, negotiate, structure and close bond transactions.  Ideal candidate would run day-to-day operations of the bond transactions unit within the Legal Department as primary liaison with outside bond counsel and HDC’s Development and Capital Markets departments.

 

Job Responsibilities:

  • Reviews official statements, bond purchase agreements and bond resolutions.
  • Reviews and analyzes due diligence items for bond transactions, including TEFRA.
  • Prepares materials for HDC Board meetings.
  • Drafts commitments, notes and mortgages.
  • Handles general miscellaneous legal duties as assigned.

 

Required Qualifications:

  • Law Degree from an accredited Law School.
  • A minimum of 2 to 5+ years of relevant experience in public finance.
  • Superior organizational, analytic, and problem-solving skills.
  • Strong communication skills.

 

Interested applicants may email a cover letter with salary requirements and resume to  jobs@nychdc.com or fax to the Human Resources Department at (212) 227-6893.

HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits including health benefits, retirement savings and career development programs. 

HDC is an Equal Opportunity Employer