Senior Development Manager

About Us

For more than 40 years, Chelsea Investment Corporation has developed affordable housing and the communities around it. We are a privately held developer working in California, New Mexico, Nevada, and Utah, and we are now opening Texas.

We are looking for our first Texas Sr. Development Manager: an experienced developer who can close deals, move projects from site to stabilization, and earn the trust of cities, funders, and community partners. You will be the face of Chelsea in Texas, with real ownership and direct access to our senior leadership.

What you will do

• Lead affordable multi-family projects from entitlement and financing through construction, lease-up, and conversion to permanent financing
• Prepare and win 4% and 9% LIHTC applications through TDHCA, and work the Texas Bond Review Board private activity bond process
• Identify and secure additional financing, such as FHLB Dallas AHP, HOME, local housing finance corporation and public facility corporation structures, and city and county funds
• Build and keep relationships with local officials, public agencies, lenders, equity partners, consultants, and community organizations
• Bring forward one to two new project opportunities a year, and manage Investment Committee memos and presentations
• Coordinate with the general contractor on each project; a local contractor will build our first Texas project, and our affiliated construction team, Emmerson Construction, is expected to build later projects
• Study new Texas markets and sub-markets, and help shape our growth plan
• Mentor future team members as the Texas office grows

What you bring

• Bachelor’s degree or graduate study in business, finance, economics, public administration, community development, planning, or a related field, or equivalent experience
• 12+ years of development experience, with at least 5 years in a leadership role in affordable multi-family housing
• A record of leading several projects at once through the full development cycle
• Working knowledge of the Texas affordable housing market, including TDHCA programs, local government support requirements, and Texas building codes and local code adoption
• Experience completing 4% and 9% tax credit applications and at least two other financing applications
• Strong underwriting, due diligence, and pro forma skills
• Comfort working independently and remotely while establishing a new market
• Proficiency with Microsoft Office and Procore; Adobe and MS Project experience is helpful
• Preferred: existing relationships with Texas public agencies and funders, and the ability to communicate with Spanish-speaking community stakeholders

Why Chelsea

• A start-up inside a 40-year company. You get the stability of an established developer and the room to build something new.
• Leadership access. You will work directly with our senior team and shape how we grow in Texas.
• Our own construction team. Emmerson Construction provides construction management for our affordable housing projects, which gives us tighter control of cost and schedule.
• A values-driven culture. We hire for communication, accountability, relationships, excellence, and solutions.
• Competitive pay. A published base range plus annual bonus eligibility.

Work arrangement

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

$165k to $195k on an annualized basis, plus eligibility for an annual incentive bonus. Final base and bonus depend on experience and total compensation

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.