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Assistant Vice President, Development

Position Summary:

The Assistant Vice President is responsible for originating, underwriting, and closing mortgage loans to finance the new construction and preservation of affordable and public housing using funds raised through bond issuances and/or allocations of corporate reserves. The Assistant Vice President will be responsible for leading closings and conversions both independently and with the support of Project Managers. This role reports to the Vice President of New Construction.

Area of Talent:    Development/Affordable Housing

Position Type:     Full Time/Exempt

Salary Range:       $115,000 to $130,000

Office Location:  NYC/Financial District

Responsibilities:

  • Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to credit committee for approval of the financing for new construction, preservation, and public housing developments). 
  • Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, most notably NYC HPD and NYCHA, bankers, bond underwriters and tax credit syndicators.
  • Provide guidance and support to more junior staff while working collaboratively on closings.
  • Manage relationships with current and prospective developers/borrowers. 
  • Prepare management reports and loan tracking information.
  • Assist in evaluating and/or formulating affordable housing programs and policy initiatives.

Required Qualifications:

  • Bachelor’s degree in Urban Planning, Architecture, Real Estate or Finance.
  • A minimum of four to five years of relevant experience in real estate lending and/or affordable housing development; or a satisfactory combination of education and/or experience equivalent to the above.
  • Proficiency in using mortgage loan models and employing financial concepts.
  • 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:

  • Knowledge of Federal, New York State, and New York City affordable housing programs and the development process is a plus.
  • Graduate degree in related field.

Submitted resumes must be accompanied by a cover letter. Please email your cover letter and resume to jobs@nychdc.com or fax to (212) 227-6816.

All HDC hires must be vaccinated against the COVID-19 virus unless they have been granted a reasonable accommodation for religion or disability.

If you are offered employment, this requirement must be met by your date of hire, unless a reasonable accommodation for exemption is received and approved by HDC.

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 inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.

HDC is committed to the full inclusion of all qualified individuals. As part of this commitment, HDC will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact Human Resources by emailing jobs@NYCHDC.Com.