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Director of Real Estate Development

Black Excellence KC

Last Updated: 8/05/22

Job Description

About Trust Neighborhoods
We're an early stage nonprofit dedicated to helping neighborhoods facing gentrification fight displacement and direct their own investment. We’re motivated by reversing decades of unjust and racist disinvestment in our centrally located neighborhoods and a belief that a different future for neighborhoods is possible, necessary, and urgent. We believe that there can be more neighborhoods that are diverse, mixed-income, and deliver opportunity for everyone.

We work with existing neighborhood-based organizations across the US in communities at risk of gentrifying and help them secure affordable housing and retail before pricing pressure displaces renters. Core to Trust Neighborhoods’ work is creating the Mixed-Income Neighborhood Trust (MINT) model. Trust Neighborhoods supports neighborhood-based organizations in launching MINTs that use outside investment to buy, renovate, build, and manage high-quality, affordable rental housing and retail to preserve affordability, prevent displacement, and enable community governance. Trust Neighborhoods created the MINT model in 2020, launched two MINTs in 2021, and is now building its team as we begin to work nationally to meet the hundreds of neighborhoods that could use a MINT today.

About the Role Trust Neighborhoods is seeking a Director of Real Estate Development to be a core member of the Trust Neighborhoods team, leading diligence on real estate viability of new MINTs and helping assemble development partnerships for each MINT. We are looking for an experienced real estate professional who wants to use their skills in service of neighborhood priorities, and meaningfully scale the MINT model from two neighborhoods to dozens. Specifically, this individual will:
● In consultation with leadership, build the Trust Neighborhoods playbook on MINT real estate strategy, to be deployed in partnership with neighborhoods across the country
● Work closely with neighborhood partners and the Chief Product Officer and Project Managers within Trust Neighborhoods in the development of new MINTs and on advising existing MINTs
● Assess the economic feasibility of new MINTs, including leading real estate market study and project underwriting
● Work with neighborhood partners to source and evaluate operating partners for work relevant to their respective neighborhoods, including renovation partnerships and property management
● Identify and negotiate debt financing, working closely with Trust Neighborhoods’ leadership team
● Advise existing MINTs on real estate functions including development strategy, acquisition approach and rental operations Experience and qualifications:
● Minimum 5 years experience in real estate, with a preference for community development and affordable housing
● Strong financial analysis skills, including excel modeling
● Strong situational awareness and ability to work across multiple stakeholder groups including neighborhood partners, community stakeholders, residents, development partners, brokers, and funders
● Ability to negotiate and execute development contracts
● Ability to source and negotiate financing
● Comfort and interest in working in an early stage venture Salary & logistics:
● Full-time role as soon as possible
● Based in Kansas City, MO or remote
● Salary based on experience

Our values: Trust Neighborhoods When in doubt, trust the neighborhood. We are a service to the passion, creativity, and potential of residents, to neighborhoods being their best selves. We must be worthy of trust, through the quality of our work and actions. Get Proximate We believe staying close to the issues we are trying to address and the people we want to support provides energy and insight. Embrace learning for ourselves and others Learning makes us better. From our failures. From our feedback. From a diversity of perspectives. From our curiosity. Be intentional about process Good process creates good. We evaluate ourselves based on the quality and equity of our processes, not just our outcomes. Cultivate our playground We take our work seriously, but not ourselves. We foster lightness and belonging alongside intense ambition. This breeds our creative and open culture, which produces good ideas. Application process: Please email a resume and short description of your interest to natalie.gauger@trustneighborhoods.com

Applications will be reviewed on a rolling basis, starting on August 1st.



Company Details

Kansas City, Missouri, United States