CHIEF REAL ESTATE DEVELOPMENT OFFICER
DECRO Corporation, a California nonprofit affordable housing developer, was formed in 1989 to meet the critical shortage of affordable housing by those who most need this housing – individuals, families, and seniors who are homeless or at risk of becoming so and those whose wages do not keep pace with ever-increasing rents.
In 2017, Decro initiated a dynamic development program to not only expand the construction and operation of new affordable and permanent supportive housing projects but also pursue community development opportunities. During this period, Decro has constructed or is constructing seven projects, including a mixed-use development, with a total investment exceeding $200 million. In December 2022, the organization opened Firmin Court, a seven-story, 64-unit permanent supportive and affordable housing project using conventional construction located outside downtown Los Angeles. A month later, the organization and its development partner opened Watts Works, a 25-unit permanent supportive housing project using modular construction located in South Los Angeles. Decro is currently completing construction of Brine Residential, a 97-unit permanent supportive and affordable housing project in Lincoln Heights situated above 28,000 square feet of commercial space. Decro is also expanding its development footprint in two material respects. First, Decro is partnering with a for-profit developer who has access to financing through a social impact fund and has built or is building ten projects throughout Los Angeles. In addition, Decro through its relationship with an affordable housing developer and property manager in Orlando, Florida, has acquired six projects in that state.
ABOUT THE POSITION (SEE CANDIDATE PROFILE)
As the Chief Real Estate Development Officer (CRDO), this executive role is pivotal within the organization's leadership structure. Reporting directly to the Chief Executive Officer (CEO), the CRDO is responsible for building on Decro’s development track record by identifying and securing new affordable housing and community development opportunities and by leveraging both conventional and non-traditional financing sources to facilitate the realization of housing and community projects. The CRDO is accountable for managing the predevelopment process as well securing construction and permanent financing., The CRDO nurtures and maintains crucial relationships with new and existing partners, lenders, and investors. In addition, the CRDO plays a significant role in team management and training, ensuring that the development team is both motivated and mentored. The successful candidate will be comfortable in the public domain as she or he will be engaging in efforts to raise awareness and garner support for affordable housing and community development, encompassing education, policy advocacy, and community outreach. Operating with a strategic perspective, the CRDO collaborates closely with the CEO to provide organizational leadership in line with Decro's mission, long-term vision, growth aspirations, and strategic plan.
ROLES & RESPONSIBILITIES
Development Opportunities, Project Financing, and Partnerships
- Identify and secure opportunities for Decro to create new affordable housing and community development projects. Evaluate development and financial feasibility giving due consideration to, among other things, community and public official support, funding sources and priorities, alternative construction methods, project sustainability, and resource availability.
- Negotiate and obtain financing for new developments through conventional debt and equity sources and grants.
- Leverage and secure project funding through non-traditional sources such as social impact funds and foundations.
- Create comprehensive development, marketing, and branding plans through operational excellence, and track overall operational progress of Decro’s development portfolio.
- Build on and enhance Decro’s well-established partnerships in the affordable housing and community development sector, initiate new collaborative relationships, and cultivate a network of advocates and sector leaders to advance Decro's mission, facilitating strategic collaborations when appropriate.
Strategic Vision and Leadership
- Contribute strategic leadership and collaborate with the CEO and Board of Directors to achieve Decro's vision, strategies, and long-term goals, emphasizing top-quality program delivery.
- Support the organization in implementing its Strategic Plan, refining the vision and strategy, and creating success metrics.
- Motivate and inform the diverse staff, partners, and investors about Decro's vision and strategy, actively involving stakeholders in goal achievement alongside the CEO.
Team Management Mentoring
- Support and sustain Decro’s high-performing project management team. Attract, recruit, and retain new development talent. Build a strong leadership bench and effectively advance the organization’s ambitious goals. Provide ongoing opportunities for all staff to give feedback towards the improvement of operations across the organization.
- Provide inspirational leadership, direction, and mentoring to direct reports and other staff.
- Establish and maintain uniform, systems-based processes and procedures for the project management and asset management staff to enable Decro to scale efficiently and sustainably, including the implementation of industry-accepted development tools and professional development resources .
- Ensure the long-term financial viability of Decro and its programs and developments through sound operational and fiscal management.
- A minimum of seven years of progressive experience and responsibilities in real estate development or finance or both. Experience in affordable housing or community-centered commercial development or both strongly preferred.
- Master’s Degree in business administration, public administration, community development or other related field is required. Alternatively, certain professional licenses combined with specific work experience may be considered in lieu of a Master’s Degree.
- Demonstrated ability to develop staff and lead effective, high-performing teams.
- Deep knowledge and experience in affordable housing and community development in California with an emphasis on the City of Los Angeles, County of Los Angeles, Inland Empire, and Imperial County.
- Entrepreneurial spirit and a growth mindset.
- A passion for Decro’s mission and a strong personal commitment to meeting the needs of persons who are homeless or at risk of becoming so and low-income families and individuals as well as promoting economic development in distressed communities.
- Knowledge of land use planning and advancing public policy for affordable housing and development in distressed communities is a plus.
- Demonstrable competency in strategic planning and business development.
- Working knowledge of data analysis and performance/operation metrics.
- Proficient in creating and applying data in Excel spreadsheets.
- The demonstrated capacity to communicate in plain English both orally and in writing.
- Outstanding organizational and leadership abilities.
- Excellent interpersonal and public speaking skills.
- Strong project management skills to coordinate with diverse teams and meet project deadlines.
- Strong people/client management skills; strong teamwork and team leadership skills; cooperative working style.
- Knowledge of low-income housing tax credits, New Markets Tax Credits, and Opportunity Zones is a plus.
COMPENSATION & BENEFITS
The annual salary range is $170,000 to $210,000. The position is a hybrid position located in Culver City, CA. Benefits include: Employer paid medical & dental insurance for employee, life insurance, 401(k) retirement plan with a 5% match after one year of continuous employment, 14 paid holidays, vacation, sick and comp days, cell phone stipend and on-site parking.
DECRO is an Equal Opportunity Employer and encourages applications from qualified individuals regardless of gender, race, religion, national origin, sexual orientation, gender orientation, or different ability.
Envision Consulting was retained by DECRO to conduct the search for their incoming Chief Real Estate Development Officer.
Applicants needing accommodation for any part of the application process may contact Envision Consulting at 626.714.7577 to request and arrange for assistance.