Development Manager

Job Description

Job Ad – Development Manager with Senior level potential (based in Salt Lake City, Utah)

If you are from an agency representing a candidate, you must send all inquiries to in order for your submission to be considered. Thank you.

About Us

Chelsea Investment Corporation is a California-based leader in the financing and development of affordable housing. We’re a team of experienced professionals that work to identify and implement timely and cost-effective solutions to provide quality homes for thousands of people. Over the three decades that we’ve been doing business, we have been consistently recognized as a top developer, as well as received achievements in energy, merit, master planning, and projects. Additionally, we have identified as one of the fastest growing privately held companies, and our CEO has been named as one of the most influential business leaders. As you can see – we’re passionate about affordable housing AND our people, and we hope you are too! We welcome you to join our amazing team.

What You’ll Be Doing

As a Development Manager at Chelsea Investment Corporation, you will be responsible for providing turnkey project management while ensuring timely financing, approval, and design of multi-family affordable housing developments.

For this role, please note that you will be required to live and work in or near Salt Lake City, Utah to directly support our locally based projects.

Additionally, your tasks will include, but not be limited to:

Managing, coordinating, and completing the development, design, financing (including the obtaining and maintenance of tax credits), syndication, construction, lease-up, stabilization, conversion to permanent financing, and regulatory compliance for assigned projects

Managing the modifications to and progression of the project pro forma in coordination with finance team to analyze possible funding scenarios and to address changes in project sources, uses, operating income and expenses, and other financial assumptions

Preparing project-related budgets and schedules, cash flow projections, deal memorandums, financial forecasts and strategic plans

Developing and fostering effective relationships internally and externally, including all third parties (e.g., consultants, public funders and private lenders/equity providers, community organizations, architects, construction managers, government liaisons, etc.)

Managing consultants, including architect, engineers, energy and other consultants in conjunction with the entitlement and design team

Overseeing the design process and coordinate with the Director of Entitlement to ensure compliance/approval by respective City, State and Federal agencies while developing and implementing solutions if any compliance or approval-related issues arise during construction and property operations

Facilitating community and public agency support and approval of project plan

Managing the due diligence and closing process for complex mixed-finance deals with multiple lenders and governmental stakeholders while creating and executing strategies to prevent conflicts between funding sources

Managing preparation and presentation of Investment Committee memos/meetings to senior leadership to obtain funding for predevelopment costs

Managing preparation and presentation of recurring Project Management Reports including all critical components of a project

Analyzing funding and development legislation, regulations, policies, and market to determine applicability to projects and compatibility with other program requirements

Supervising the financing application team and oversee the application completion while coordinating with responsible parties

Overseeing and managing the lease-up process in conjunction with the Asset Management and Property Management team

Identifying new, potential affordable housing projects for the Company

What You’ll Need to Perform the Role

You’ll use your bachelor’s degree and/or graduate degree in business, finance, economics, public administration, community development, planning, or related field, plus ten (10) plus years of development experience with at least three (3) of those years in a leadership role within affordable residential housing with an emphasis on multi-family; a history of leading concurrent project teams through successful affordable multifamily housing developments, extensive knowledge and understanding of affordable multi-family housing developments, and proficiency in Microsoft Office (Word, Excel, and Outlook) to be successful in this role. You may also have an equivalent combination of education, training, and/or experience from which comparable knowledge, skill, and abilities have been attained.

You’ll also need the following attributes:

Extremely organized with ingrained ability to prioritize and multi-task in a fast-paced environment

Keen attention to detail with focused adherence to strict deadlines and procedures

Sound problem-solving skills with demonstrated ability to exercise sound independent judgment

High level of integrity and dependability, including handling sensitive and confidential information

Teamwork mindset and temperament to work effectively with a diverse group of people

Effective ability to communication clearly and concisely, both verbally and in writing

Genuine desire to work in the real estate development affordable housing industry

Personal accountability and enthusiasm for achieving company goals

What’s in it for You

Chelsea’s people are at the core of everything we do. We offer meaningful careers, competitive salaries, annual bonus packages, and an energetic office environment.

We take the well-being of our team members seriously; thus, providing an attractive benefits and perks package to meet the needs of all our employees. This package includes, but is not limited to:

Medical (HMO, PPO, HDHP/HSA plans available)

Dental (HMO and POS)

Vision

Section 125 Cafeteria Plan

Company sponsored Disability and Life insurance

401K plan participation with company match

Paid Time Off (PTO)

Opportunities for professional development

Flexible work schedule as business needs permit

Company-wide events

Hiring Range

$150k to $160k on an annualized basis, depending on qualifications. For Senior level candidates, compensation will be based accordingly depending on qualifications

The pay range for this position starts as listed in the job posting but may change based on education and experience. Final compensation is determined by various factors, such as education, training, experience, work location, required travel (if any), and external market conditions. In addition to salary, we offer a comprehensive benefits package, including health insurance, 401(k), paid time off including a generous holiday schedule.

What Comes Next

If this role seems of interest to you and you meet the needs to be successful, apply using the link below. Our recruiting team will then review your application and any of the materials you submit. From that point, we’ll reach out if you’re a fit and introduce you to the hiring manager and move you through the interview process, which will encompass meeting virtually, as well as in-person at our corporate office in Carlsbad and/or project job site (following all COVID-19 safety precautions and protocols).

Equal Opportunity

Chelsea Investment Corporation is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. We encourage applications from minorities, women, the disabled, protected veterans and all other qualified applicants.

Diversity, Equity, and Inclusion Commitment Statement

We acknowledge that historic and ongoing discrimination results in a society where certain groups are disadvantaged in ways that are not always obvious.

We understand that a commitment to racial equity and inclusion is not always easy, is not always comfortable, and is not always expedient. It is nevertheless a commitment we have chosen to make.

Our commitment to racial equity and inclusion is evidenced by our demonstrated actions to address the unique housing needs of Black, Indigenous, People of Color, and other marginalized groups. We intentionally develop and manage affordable housing that addresses the needs of historically marginalized, and disenfranchised populations.

We celebrate and encourage diversity in all forms and promote equity and inclusion through our practices, policies, systems, and behaviors.

Our commitment to diversity, equity and inclusion is embedded in all aspects of our work. We intentionally create an inclusive environment where our internal team, our external clients, and our contracted service providers are valued and supported.

Full-time