Director of Real Estate Development Foya Development Group Irvington, NJ Job Details Full-time $150,000 - $200,000 a year 8 hours ago Benefits Health insurance Dental insurance Tuition reimbursement Cell phone reimbursement Vision insurance Qualifications Residential construction project management Equity financing Financial model construction LIHTC Writing skills Mixed-use development in urban design Affordable housing management Bachelor's degree Managing real estate transactions Mixed-use building Valuation modeling Financial projection model development Managing projects Full Job Description Director of Real Estate Development Location Irvington / Newark, New Jersey Reports to Chief Executive Officer Compensation $150,000-$200,000 annual base salary and an annual performance bonus. Position Overview Foya Development Group seeks a Director of Real Estate Development to lead affordable housing and mixed-use projects from initial opportunity through stabilization. Reporting to the CEO, this leader will manage a growing New Jersey pipeline, turn complex financing and approvals into executable plans, and hold internal and external teams accountable for schedule, budget, quality, and community commitments. Success means building a strong organization and creating lasting value for the neighborhoods and residents our projects serve. The role calls for a hands-on developer who can underwrite a site, negotiate a transaction, assemble public and private financing, lead a closing, resolve construction issues, and communicate clearly with funders and municipal partners. The Director will supervise development staff and bring timely decisions and risks to the CEO. Development Strategy and Acquisitions

• Source and assess affordable, senior, supportive, mixed income, and mixed-use opportunities; evaluate site control, zoning, infrastructure, market demand, financing fit, and organizational capacity.
• Lead due diligence, including title, survey, environmental, geotechnical, utilities, property condition, entitlement, and construction feasibility reviews; identify costs and issues before commitments are made.
• Prepare investment recommendations with sources and uses, preliminary schedules, risks, proposed ownership structure, and a clear path to financing and approvals.
• Negotiate letters of intent, purchase and option agreements, joint venture terms, redevelopment agreements, and other project agreements with counsel and executive leadership. Underwriting and Capital Formation
• Own and review development pro formas, operating forecasts, project budgets, cash flow, developer fee projections, and sensitivity analyses; reconcile models to current plans, pricing, and financing terms.
• Structure layered capital stacks that may include 9% or 4% LIHTC equity, tax exempt bonds, construction and permanent debt, HOME and other local funds, state programs, grants, and rental assistance.
• Lead funding applications, competitive tax credit submissions, lender and investor packages, and responses to underwriting questions; manage deadlines and quality control across contributors.
• Negotiate financing terms with lenders, investors, syndicators, public agencies, and counsel; coordinate due diligence, approvals, closing checklists, and document review through financial closing.
• Track committed and prospective sources, funding gaps, draw timing, cash needs, contingencies, and cost changes; recommend corrective action when project economics shift. Entitlements and Project Delivery
• Develop and maintain an integrated schedule for design, land use approvals, permits, financing, procurement, construction, lease up, and stabilization; assign owners to critical milestones.
• Direct architects, engineers, attorneys, environmental consultants, general contractors, and other advisers; lead productive meetings and follow through on decisions and deliverables.
• Guide zoning and redevelopment approvals, municipal and agency submissions, utility coordination, and community review; keep approvals aligned with financing and construction requirements.
• Review design development, construction documents, scope, estimates, value engineering, and procurement with the project team while protecting durability, accessibility, and resident experience.
• Oversee construction progress with the project manager and contractor, including schedule, change orders, pay applications, lender draws, quality, contingency, and timely resolution of field issues.
• Coordinate with property management and compliance teams on marketing, occupancy, permanent loan conversion, closeout, warranty matters, and transition to stable operations. Partnerships and Leadership
• Build trusted working relationships with municipalities, NJHMFA, other funding agencies, housing authorities, lenders, investors, nonprofit partners, and neighborhood stakeholders.
• Represent Foya in public meetings, hearings, funder discussions, and partnership negotiations; explain project benefits and respond to concerns with accuracy and respect.
• Recruit, supervise, coach, and evaluate development staff; create clear roles, decision rights, training, and accountability so the team can grow with the project pipeline.
• Build repeatable systems for underwriting, approvals, reporting, consultant management, and project handoffs; develop emerging leaders and a culture of shared ownership.
• Work with residents, local organizations, and municipal partners to identify community priorities and carry relevant commitments through design, construction, and operations.
• Provide the CEO with concise portfolio reports showing schedule, budget, financing status, major decisions, risks, and recommended next steps; escalate material issues early.
• Coordinate closely with finance, accounting, legal, construction, and asset management so project commitments and reporting remain consistent across the organization. Qualifications
• Bachelor's degree in real estate, finance, urban planning, architecture, construction management, business, or a related field; an advanced degree is welcome.
• At least 7-10 years of progressively responsible real estate development experience, including direct responsibility for affordable housing projects from predevelopment through closing and construction.
• Demonstrated experience with LIHTC transactions and complex public and private financing; strong financial modeling, budget review, and transaction management skills.
• Working knowledge of New Jersey affordable housing funding and approvals, including NJHMFA and municipal processes, or a strong record of quickly mastering comparable programs.
• Experience negotiating with financing partners and coordinating multidisciplinary teams; ability to manage several projects with competing deadlines.
• Clear writing, sound judgment, strong presentation skills, and the ability to lead difficult conversations and turn unresolved issues into decisions.
• Proficiency with Excel, Word, and project tracking tools; ability to travel to sites and meetings throughout New Jersey. Preferred Experience
• Established relationships in New Jersey affordable housing, public finance, and municipal redevelopment.
• Experience with supportive or senior housing, project based rental assistance, mixed use development, and community serving amenities.
• Experience hiring and developing staff and strengthening systems in a growing, mission driven development organization.

Working Arrangement This is a hybrid office position centered in Irvington and Newark, with regular travel to project sites and partner meetings across New Jersey. Time sensitive closings may require schedule flexibility. About Foya Development Group Foya Development Group develops affordable housing and community-focused projects. Together with our partners, we have been awarded seven allocations of 9% Low-Income Housing Tax Credits. Five of those projects have closed and are now stabilized and operating. Foya has also been awarded a 4% LIHTC transaction.. We are building an organization that can deliver consistently for residents and neighborhoods over the long term. The Director will help shape that organization: assembling a capable team, creating durable systems, and moving projects from concept to homes and opportunities for the people they serve. How to Apply Interested candidates are invited to submit their resume and a cover letter (optional) to

Pay:

$150,000.00 - $200,000.00 per year

Benefits:

Cell phone reimbursement Dental insurance Health insurance Tuition reimbursement Vision insurance

Work Location:

Hybrid remote in Irvington, NJ 07111