Project Manager, Conversions for the Division of Portfolio Management & Conversions

About the role

About the Agency: The New York City Department of Housing Preservation & Development (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 Your Team: The Office of Development (OOD) leads the agency's effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of eight divisions that administer a range of programs. These divisions include Portfolio Management & Conversions, New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives. The Division of Portfolio Management & Conversions manages development projects after closing with an initial loan to ensure adherence to program and accounting requirements, conversion of construction loans to permanent financing, deployment of rental assistance to tenants prior to project stabilization, and timely completion of these HPD-assisted projects. The division administers multiple programs including Conversions & Rental Assistance, Requisitions, and Construction Monitoring & Completions. These programs facilitate the financial and physical viability, as well as affordability of privately-owned residential buildings throughout New York City. The Division plays a key role in implementation and successful completion housing projects originating from loan programs throughout HPD's Office of Development. The Conversions unit within the Division oversees the conversion of construction loans to permanent financing, a critical checkpoint for HPD to ensure that development teams have adhered to program requirements, and to set up these projects for long-term success for decades to come. The unit also oversees rent restructuring, a process through which HPD resets rents in a project, and which is a critical tool to ensure housing affordability and long-term project stability. This involves managing due diligence requirements, managing multiple stakeholders to overcome barriers to achieving these milestones, establishing new rent stabilized rents, and other tasks. Your Impact: As a Project Manager, Conversions, you will have the opportunity to manage the intake, assessment, legal files, and conversion to permanent financing of New Construction and/or Preservation projects with HPD financing, followed by a successful transfer to Asset Management. The Project Manager will be responsible for learning and understanding different HPD program requirements and ensuring projects are compliant with requirements upon conversion. You will also play a critical role in implementing rent restructuring for projects that require it, which ensures rental achievement for projects preparing for permanent financing, continued housing affordability for residents, and the long-term stability and success of residential buildings housing predominately rent-stabilized tenants. 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 Project Manager, Conversions, you will be responsible for managing all aspects of rent restructuring and conversion implementation within deadlines and in accordance with currently applicable laws, codes, policies, and procedures. Project Managers will work closely with others within the Division, in other Divisions, with external partners, and in some cases with housing residents to carefully and efficiently review and analyze program requirements and legal documents; to review, produce, and ensure correct submissions to HPD of rent rolls; to draft and distribute tenant communications and rent orders; and to facilitate permanent loan conversion and corresponding data entry and documentation. The 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 preparin

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