Job Information
City of New York Conversions Project Manager in New York, New York
Job Description
About the Agency:
The New York City Department of Housing Preservation (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 Division of Portfolio Management & Conversions in the Office of Development manages development projects after closing with an initial loan to ensure compliance with program requirements through the conversion of the loan to permanent financing as part of the City’s ambitious Housing New York affordable housing plan.
Your Impact:
As a Conversions Project Manager, you will have the opportunity to manage the intake, assessment, legal files, and conversion of New Construction and Preservation projects with HPD financing through closing and transfer to Asset Management. The Project Manager will be responsible for learning and understanding different program requirements and ensuring projects are compliant with requirements upon conversion. In addition, Conversions project managers will manage the necessary rent-restructuring implementation when applicable, ensure rental achievement, and coordinate with internal and external stakeholders. The Project Manager will also have the opportunity to recommend policy, process, and engagement improvements towards greater program efficiency. These efforts will help drive the Agency’s goal of providing 300,000 units by 2026 by ensuring that the unit starts are successfully completed, rented and converted in accordance with program requirements.
Your Role:
As the Conversions Project Manager, you will be responsible for managing all aspects of a conversion and/or rent restructuring implementation within deadlines and in accordance with currently applicable laws, codes, policies, and procedures. Conversions Project Managers will work closely with others within the Division as required to review requirements, analyze legal documents, facilitate conversion and data entry. The Conversions Project Manager will also be responsible for managing internal and external stakeholder relationships including coordinating meetings and maintaining accurate records of updates and progress.
Your Responsibilities:
Your responsibilities will include, but not be limited to:
Performing general project management duties for a range of capitally funded transactions, such as troubleshooting projects in construction, facilitating project completion, managing loan conversions, and preparing recommendations for work-outs;
Perform liaison functions externally and internally between tenants, developers, HPD colleagues and other community stakeholders to ensure smooth coordination of conversions and implementation of rent restructuring;
Proactively and pre-emptively highlight challenges, missing information, delays, problems and other issues that may affect a conversion and coordinate the necessary actions to resolve;
Ensure compliance and consistency in implementation of rent restructuring within federal, local and regulatory guidelines;
Maintain conversions checklists and necessary coordination with stakeholders to meet compliance;
Reviewing and analyzing mortgage notes, regulatory agreements and other related documents requiring understanding and applying of complex regulations and perform loan underwriting activities as needed;
Financial modeling with an emphasis on preserving affordability, real estate tax benefit analysis, and cash flow projections;
Monitor and proactively encourage the removal of building code violations as needed;
Build and prepare the legal file for closing or rent restructuring in accordance with checklist templates and other requirements; ensure all information is accurate, complete, well-organized and timely;
Work with HPD’s legal department to collect and prepare loan closing documentation;
Maintain accurate records of updates and calculations utilizing excel spreadsheets and access databases;
Demonstrate ability to meet deadlines and manage multiple projects in a timely manner.
Work on special projects as needed.
In addition to the tasks described above, the individual hired will be expected to take on additional tasks as time allows which may include tracking workflow and assisting with team projects. Staff must be able to handle both financial modeling and external client relationships.
Preferred skills
Strong preference for candidates who possess:
Proven interest in community development, urban planning, affordable housing or real estate finance
Knowledge of New York City affordable housing and private lending programs
Ability to read and understand loan documents and experience with budgeting and project scheduling
Advanced computer skills including competency in Microsoft Office suite, especially Excel and Access
Strong interpersonal and communication skills and excellent writing and editing skills
Demonstrated capacity for performing and prioritizing multiple tasks, using independent judgment, and conducting difficult negotiations while maintaining professional decorum
Qualifications
A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or
High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or
Education and/or experience which is equivalent to "1" or "2" above. However, all candidates must have at least one year of experience as described in "1" above.
Additional Information
The City of New York 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.