Director of Development and Asset Management

Position Title: Director of Development and Asset Management
Reports To: Executive Director
Department/Division: Development
FLSA Status: Exempt
Date: March 24, 2026
Employment Status: Full-Time

Position Summary
The Director of Development and Asset Management is responsible for leading and executing the Agency's real estate development, acquisition, repositioning, and long-term asset management strategies for its affordable housing portfolio. This position oversees the full lifecycle of development projects - from concept through stabilization-and ensures the long-term financial, physical, and regulatory performance of Agency-owned assets.

In a small agency environment, this role functions as both a strategic leader and a hands-on project manager, directly performing key development and asset management functions while coordinating and overseeing the work of external consultants, partners, and property management providers.

The Director serves as the Agency's lead real estate representative, advancing affordable housing production goals, optimizing portfolio performance, and supporting the Agency's transition toward a more active real estate development model.

Responsibilities
The duties listed below illustrate the various types of work that may be performed. The omission of specific statements regarding duties does not exclude them from the position if the work is similar, related, or a logical assignment in association with this position. Undertakes and performs the following and all other work-related duties as assigned.

1. Development Strategy and Pipeline Management
   
   • Develop and implement a comprehensive real estate development strategy aligned with Agency goals, including
     new construction, acquisition, and repositioning opportunities.
   • Identify, evaluate, and advance potential development sites and partnerships, including land acquisition and joint ventures.
   • Lead feasibility analysis including financial modeling, site analysis, entitlement considerations, and risk assessment.
   • Maintain and manage a pipeline of development opportunities to meet Agency production goals.
     
     
2. Real Estate Development (Full Lifecycle Execution)
   
   • Lead and manage all phases of development projects, including pre-development, acquisition, financing, design, entitlements, construction, lease-up, and stabilization.
   • Prepare and analyze development pro forms, sources and uses, and long-term operating projections.
   • Structure and secure project financing, including LIHTC, bonds, grants, loans, and other public/private funding sources
   • Negotiate and manage development agreements, partnership structures, and financing documents in coordination with legal counsel.
   • Oversee procurement and management of consultants including architects, engineers, contractors, and financial advisors.
   • Ensure projects are delivered on time, within budget, and in compliance with all funding and regulatory requirements. 
     
     
3. Construction and Project Management Oversight
   
   • Oversee construction activities including budgeting, scheduling, contractor performance, and quality control.
   • Conduct regular site visits and monitor progress, addressing issues related to cost, schedule, and construction quality.
   • Review change orders, pay applications, and project close-out documentation.
   • Ensure compliance with prevailing wage, Section 3, and other applicable requirements.
     
     
4. Asset Management and Portfolio Performance
   
   • Lead asset management functions for the Agency's affordable housing portfolio to ensure long-term financial and operational performance.
   • Monitor property financial performance including operating budgets, cash flow, reserves, and capital needs.
   • Review and analyze property-level financial statements, audits, and variance reports; identify and implement corrective strategies as needed.
   • Oversee capital planning efforts, including capital needs assessments and long-term replacement planning.
   • Evaluate refinancing, repositioning, and disposition opportunities to optimize asset performance.
   • Monitor compliance with regulatory agreements, lender requirements, and affordability restrictions.
     
     
5. Property Operations Coordination
   
   • Work closely with property management (internal or third-party) to ensure effective operations, strong occupancy, and quality resident services.
   • Establish performance expectations and monitor property management agreements, including KPIs and reporting.
   • Support lease-up strategies for new developments and major rehabilitations.
     
     
6. Financial Strategy and Funding
   
   • Identify and pursue funding opportunities to support development and preservation of affordable housing.
   • Lead preparation and submission of competitive funding applications (e.g., LIHTC, HOME, CDBG, state and local programs).
   • Coordinate with Finance on portfolio-level financial planning, debt management, and reporting.
     
     
7. Compliance and Regulatory Oversight
   
   • Ensure compliance with all federal, state, and local regulations, including HUD requirements, fair housing, environmental regulations, and funding program rules.
   • Support Agency MTW initiatives and ensure alignment between development activities and MTW flexibilities.
   • Maintain accurate project and asset documentation for audits, reporting, and regulatory reviews. 
     
     
8. Stakeholder Engagement and Representation
   
   • Serve as the Agency's primary representative in real estate development matters with public agencies, community stakeholders, developers, and financial partners.
   • Present development proposals, asset performance updates, and strategic recommendations to the Executive Director and Board of Commissioners.
   • Build and maintain strong relationships with local jurisdictions, funding agencies, and community partners.
     
     
9. Internal Coordination and Strategic Planning
   
   • Coordinate closely with Agency leadership to align development and asset strategies with overall organizational goals.
   • Contribute to long-term strategic planning, including portfolio growth and sustainability initiatives.
   • Develop and refine policies, procedures, and best practices for development and asset management functions.
     
     
10. Small Agency / Self-Performing Expectations
    
    • Perform key technical work directly, including financial modeling, due diligence coordination, and project management tasks.
    • Manage multiple projects and priorities independently with minimal administrative support.
    • Effectively leverage consultants while maintaining strong internal ownership of projects and outcomes.

Education and Experience

• Bachelor's degree in real estate, urban planning, business administration, finance, or a related field.
• Five (5) years of progressively responsible experience in affordable housing development, real estate finance, or asset management required, with demonstrated experience managing projects through the full development lifecycle.
• Experience with Low-Income Housing Tax Credits (LIHTC), public funding programs, and affordable housing regulations strongly preferred.
• Experience working with public agencies or housing authorities is highly desirable.

The following Certifications must be obtained within one (1) year of employment or other allowable period of hire as authorized by the Executive Director or his/her designee:

• Procurement and Contract Management
• Fair Housing

Knowledge and Skills

1. Comprehensive knowledge of affordable housing development processes, financing structures, and regulatory frameworks.
2. Knowledge of asset management principles including financial analysis, capital planning, and portfolio optimization.
3. Ability to develop and analyze complex financial models and pro forms.
4. Knowledge of federal, state, and local housing programs and funding sources.
5. Strong project management skills with the ability to manage multiple complex projects simultaneously.
6. Ability to read and interpret construction drawings, contracts, and financial documents. 
7. Strong negotiation, communication, and stakeholder management skills.
8. Ability to work independently and exercise sound judgment in a dynamic environment.
9. Proficiency in Microsoft Office and financial modeling tools.

Supervision Controls
The employee receives general direction from the Executive Director. The position exercises a high level of independent judgment and is responsible for managing projects, consultants, and external partners.

Guidelines
Guidelines include established federal regulations, policies and procedures, traditional practices, reference materials such as dictionaries, desk manuals, handbooks, and the Internet. If guidelines do not cover a situation, the employee consults the supervisor. Sound judgment, consistency and accuracy are needed to successfully perform duties.

Complexity
The employee performs a variety of routine and generally related tasks. The course of action is determined by established procedure, the supervisor, or the employee. Tasks have to be coordinated, integrated, and/or prioritized to be accomplished within set deadlines. Routine work is relatively structured, and problems may require consultation with the supervisor.

Scope and Effect
The employee's work affects Agency employees, residents, partners, stakeholders, and other local agencies. A high degree of accuracy is required to ensure that accounts payable are accurately processed in a timely manner. Successful accomplishment of tasks by the employee can enhance the Agency's ability to provide housing that is decent, safe, and sanitary and to render adequate services for its residents.

Personal Contacts
The employee has contact with co-workers, applicants, residents, business firms, contractors, consultants, and vendors for the purpose of giving or exchanging information, resolving problems, justification, and negotiation

Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

1. Must be able to sit and/or stand for up to nine hours at a time while performing work duties.
2. Work is principally sedentary, but may involve some physical exertion, such as kneeling, crouching, or lifting to obtain files and records, and eyestrain from working with computers and other office equipment.
3. Must be able to bend, stoop, push, and pull in the performance of office-related duties.
4. Must be able to use fingers bilaterally and unilaterally to operate office equipment.
5. Must have vision and hearing corrected to be able to perform essential job functions.
6. Must be able to perform essential job functions in an environment that will sometimes include increased levels of work-related stress.
7. Must maintain a professional appearance and portray a positive image for the Agency.
8. Must be able to maintain punctuality and attendance as scheduled.
9. Must also be able to lift up to 10 lbs. on a periodic basis.
10. An employee may request reasonable accommodation to mitigate any of the physical requirements listed above.

Medicinal and Recreational Marijuana
Marijuana is a Schedule I controlled substance and is illegal under federal law. The Agency observes the common rule of the Federal Marijuana Law of the Controlled Substances Act (CSA) (21 U.S.C. § 811), which does not recognize the difference between medical and recreational use of marijuana and has established the required Drug Free Workplace Policy. Employees are NOT permitted to use or possess any form of marijuana for medical or recreational purposes. Any applicant for employment who advises the Agency that he/she uses any form of marijuana will be ineligible for employment. The Agency is unable to grant a request for reasonable accommodation to use marijuana under any circumstance.

Work Environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Work is performed both indoors and outdoors and the employee is exposed to weather extremes. The employee is subject to normal risks associated with visits to housing developments and construction sites and confrontations with residents and non-residents.

Benefits
The Livermore Housing Authority offers benefits to employees including medical, dental, and vision insurance and basic life and long term disability insurance.

• The Agency participates in the CalPERS pension program and offers an optional 457 retirement plan.
• The Agency follows a 9/80 work schedule and may offer a hybrid working arrangement for this position.
• Employees accrue vacation and sick leave hours on a bi-weekly basis.
• The Agency observes 16 public holidays and 1 floating holiday.

Other Requirements

1. Must possess a valid California driver's license and maintain a good driving record.
2. May be required to work an unusual work schedule.
3. Must work with the highest degree of confidentiality.
4. Must be available for occasional overnight travel for training.
5. Must pass employment criminal background check.

Read and Acknowledge
The Livermore Housing Authority is an Equal Opportunity Employer. This job description is subject to change and in no manner implies that these are the only duties and responsibilities to be performed. The duties herein are representative of the essential functions of this job. This job description reflects management's assignment of functions; however, it does not prescribe or restrict tasks that may be assigned. Nothing in this document restricts management's right to assign or reassign duties and responsibilities at any time. The qualifications listed above are guidelines, other combinations of education and experience that could provide the necessary knowledge, skills, and abilities to perform the job may be considered at the discretion of the Executive Director

Employment with Livermore Housing Authority is on an "at-will" basis. Nothing in this document is intended to create an employment contract, implied or otherwise, and does not constitute a promise of continued employment.

Disclaimer: The above statements describe the general nature, level, and type of work performed by the incumbent(s) assigned to this classification. They are not intended to be an exhaustive list of all responsibilities, demands, and skills required of personnel so classified. Job descriptions are not intended to and do not imply or create any employment, compensation, or contract rights to any person or persons. Management reserves the right to add, delete, or modify and/or all provisions of this description at any time as needed without notice. This job description supersedes earlier versions.