Job Description
About the Agency:
The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.
- We maintain building and resident safety and health
- We create opportunities for New Yorkers through housing affordability
- We engage New Yorkers to build and sustain neighborhood strength and diversity.
HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion—the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.
Your Team:
The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives.
The Division of Preservation Finance administers multiple financing programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Housing Preservation Opportunities Program (HPO), the Green Housing Preservation Program (GHPP), the Lead Hazard Reduction and Healthy Homes HUD Multifamily Program (HUD MF), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP), Neighborhood Pillars Program (“Pillars”) and the LIHTC Portfolio Preservation (Year 15) Program. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Blueprint.
Your Impact:
The Division of Preservation Finance seeks an Assistant Project Manager for Multifamily Preservation Finance Programs. These Programs develop plans, strategies, and tools for effective affordable housing preservation initiatives, as well as analyze, negotiate, and execute preservation projects. Gap financing and/or tax exemptions are provided to projects with the goal of ensuring financial and physical viability in addition to long term affordability. The Programs also seek to identify properties showing signs of financial and/or physical distress for outreach and pipeline development, including residential properties that are in foreclosure or mortgage default where there is an opportunity for a new qualified purchaser to purchase the debt and/ or the deed.
Your Role:
In your role as Assistant Project Manager you will be responsible for managing 2-3 City Capital projects per year through loan closing, including underwriting and completing due diligence. In addition, you will be responsible for assisting program staff in intaking and assigning new capital projects, conducting outreach, and completing due diligence for upcoming loan closings.
Your Responsibilities:
Primary responsibilities will include but will not be limited to:
- Manage a small caseload of projects per year through loan closing, including underwriting, completing due diligence requirements, and conversion to permanent financing
- Manage 2-3 projects per year through exemption closing, including underwriting and completing due diligence requirements
- Act as first point of contact to building owners seeking to learn more about the Multifamily Preservation Finance Programs, including monitoring project application submissions, responding to inquiries to the loan program and scheduling meetings with potential borrowers.
- Assist with the intake of projects applying to the Multifamily Preservation Finance Programs, including reviewing applications and collecting missing application materials, performing preliminary financial analysis and discussing the terms of HPD’s loan programs with the prospective borrower.
- Track and coordinate the receipt of application information by maintaining and updating sophisticated intake tracker with borrower information.
- Assist with determining the appropriate loan program and Project Manager for the project.
- Coordinate intake and outreach efforts with teams across the agency, including staffing outreach events, and creating marketing and/or outreach materials.
- Produce detailed reports, presentations, and written correspondence regarding project inquiries and applications
- Attend meetings, develop agendas and maintain minutes for various projects and internal and external meetings.
- Assist Project Managers and Senior Project Managers complete due diligence and internal review on their projects.
Preferred Skills:
· Interest in community development, urban planning, affordable housing or real estate finance.
· Advanced computer skills including competency in full Microsoft Office suite, especially Excel.
· Capacity to simultaneously work on multiple tasks and set priorities for a challenging workload.
· Strong interpersonal and communication skills. Excellent writing and editing skills.
· 1-2 years of applicable experience working in a fast-paced and dynamic environment preferred.
How to Apply:
Please email resume and cover letter to: JobsPF@hpd.nyc.gov
Salary range for this position is: approximately $70,000 annual salary (based on a 35 hour work week with a required unpaid lunch)
NOTE: Please note that this is a temp position that will conclude approximately 12 months from hire date. Please note that due to this being a Temporary Employment Position we are unable to sponsor candidates that require visa support.
Work Location: 100 Gold Street, New York, NY
The Department of Housing Preservation & Development and the City of New York is an equal opportunity employer.