Director, Development Operations

Responsibilities

• Direct, hands-on management and oversight of a portfolio of affordable multifamily assets
• Conduct thorough financial analysis, including cash flow projections, budgeting, and financial modeling
• Develop, manage, and execute comprehensive business plan strategies for the affordable multifamily assets and portfolio
• Investigate variances and identify opportunities to enhance asset performance through market trends and capital improvements
• Work closely with affiliated and third-party management companies to carry out property strategies
• Assess and manage risk factors including market conditions, leasing, and capital expenditure requirements
• Collaborate with internal teams including acquisitions, development, construction, and property management
• Oversee budgets and monthly variance reports submitted by property management
• Identify opportunities for capital transactions, including refinancing and dispositions

Requirements

• Minimum 8+ years of applicable real estate experience
• Bachelor's degree
• Prior team management and leadership experience
• Experience in multifamily affordable portfolio and asset management
• Knowledge of Project-Based Section 8 and Low-Income Housing Tax Credit Programs
• Experience understanding partnership agreements, loan documents, and regulatory agreements
• Strong proficiency in financial modeling and Microsoft Excel
• Experience with RealPage and Yardi
• Ability to travel up to 20%

About the Company

Fairstead is a purpose-driven real estate firm dedicated to building affordable communities across the country. Headquartered in New York, the firm operates as an integrated owner, operator, and innovator, bringing development, construction, and property management under one unified platform.