Director Formulation Development Jobs in Illinois

Please Note: Communications regarding this position may include the company name “Banner Property” and should be deemed legitimate.”

About Us:

Full Circle Communities, Inc., is a mission-driven non-profit developer and manager of affordable housing with a focus on expanding access to quality affordable housing. We achieve our mission collaboratively – with our residents, our communities, our industry partners, and our fellow employees, and provide targeted supportive services to our residents and the surrounding communities. Full Circle currently has ownership/affiliated interests in and/or manages over 1,500 apartment units in Illinois, Iowa and Michigan.

We look for committed and enthusiastic individuals who are energized by our mission and the challenges of creating and operating service-rich affordable housing. We invest in our team members’ growth as we expect them to invest in the growth of the organization.

See our website at http://www.fccommunities.org/ for more information.

Job Description:

Full Circle is seeking a Vice President of Real Estate Development (VPRED) to join our Real Estate Development Team as a senior officer-level role to take affordable housing projects from idea to reality, while managing the people, money, risk, and community relationships required to do so at scale.

They will oversee the entire lifecycle of a portfolio of affordable housing projects, secure and structure funding for projects, manage external relationships and community engagement, manage and develop a team and serve as a proxy for executive leadership.

The position reports to the Executive Vice President of Real Estate Development (EVPRED). Specific duties of the Vice President, Real Estate Development are outlined below.

What You’ll Do:

Real Estate Development:

• Initiate and evaluate new development opportunities

  • Analyze federal, state, and local priorities for creation, acquisition, and financing of affordable housing

  • Support formulation of the department project pipeline and staffing workplan

  • Evaluate potential sites to determine feasibility

  • Negotiate purchase agreements and establish site control

• Oversee development projects from initiation to completion with a clear set of responsibilities in each of these stages:

  • Pre-development

    • Oversee staff on initiation, underwriting, and evaluation of opportunities

    • Analyze project within federal, state and local funding priorities

    • Lead project mission formulation: identifying target resident population, service provider partners, and potential Joint Venture (JV) opportunities

    • Oversee financing applications and secure project financing commitments

    • Oversee the work of project consultants, approve project partner selection, and lead on-going evaluation process

    • Build community support and oversee entitlements process

    • Oversee closings

  • Construction

    • Oversee staff’s implementation of the construction process to assure compliance with plans, schedule, and organizational goals

    • Approve development-related payment requests, budgets and accounting reports, requests for proposals, and contracts

    • Monitor project funds, forecast cash flows, and oversee loan draws

    • Oversee construction, architectural, and financing approvals

    • Oversee and facilitate coordination with property management and Mission Impact

  • Close-out and hand-off

    • Oversee and facilitate transition from development to property management and long term operations

    • Oversee certificate of occupancy and other completion approvals

    • Oversee and guide conversion from construction to permanent financing

    • Oversee and guide punchlist completion and on-going warranty requests

Team Leadership and Strategy:

• Work closely with leadership to formulate and coordinate development policy, goals, and budgets with approval of the President & CEO, Senior Staff, and Board of Directors

• Manage staff members on the real estate development team with a focus on performance support and evaluation, as well as hiring and onboarding

• Oversee all acquisition, financing, design, and construction activities of assigned staff on one or more developments per year

• At discretion of the EVPRED, prepare departmental reports, including Board reports, developer fee projections, and risk rating reports, and participate in Board and committee meetings

• Assume the responsibilities of the EVPRED in their absence

• Perform other tasks as assigned by the EVPRED or President & CEO

Relationship Management:

• Create and maintain strategic relationships for the organization and projects

• Formulate and direct project community outreach strategies and coordinate with local advocacy groups

• Participate in neighborhood and community meetings

• Contribute to City / County / State policy planning and advocacy efforts

• Build, maintain, and evaluate relationships with funders, consultants, municipalities, and vendors

Qualifications and Skills:

Candidates must have:

• Bachelor’s degree or appropriate professional experience may be substituted for a degree

• 10+ years of direct experience in affordable housing development including completing multiple affordable housing development projects, technical knowledge and ability to structure complex private and public debt, equity, and grant funding for affordable housing development projects

• Substantial experience with architectural and engineering design and construction materials and methods, including the ability to read drawings

• Completed multiple affordable housing development projects

• Capacity to exercise considerable initiative, independent judgment, assess risk, and communicate around typical acquisition, financing, construction, and design issues

• Effective communicator verbally and in writing, with well developed analytical, negotiation and public speaking skills

• Prior supervisory experience in the affordable housing field with demonstrated ability to supervise staff, mentor, train and provide feedback

• Ability to collaborate with and lead a wide variety of individuals and groups

• Works productively under pressure and demonstrates ownership of work and outcomes

Strong Candidates will have:

• Sustained exemplary performance as a Senior Project Manager OR Master's degree

• Completed 7+ affordable housing developments in leadership role such as a Project Manager, Senior Project Manager or Vice President

• 5+ years of supervisory or management experience in the affordable housing field

Compensation & Benefits:

This is a full-time, exempt role and the salary range for this position is $145,000 - $180,000. Compensation and benefits are competitive and commensurate with experience. Benefits include health, dental, vision, IRA, life and supplemental insurance. Relocation assistance may be available for qualified candidates.

Full Circle Communities headquarters are located in Chicago, Illinois, in the West Loop near UIC. Our corporate office functions in a relaxed, business casual environment. This role is hybrid with in-office expectations of at least two days in the office, including Wednesdays. This role requires occasional travel in the Chicago metropolitan area, Kalamazoo and Detroit, Michigan.

At FCC, you’re part of a mission-driven team that genuinely cares. You’ll work in a supportive environment where your contributions are meaningful, your voice is valued, and your growth is encouraged. Here, you’re helping build stronger communities—one resident at a time.

Application Process:

Please apply online through Full Circle’s Application Link. Please include a cover letter with your application.

Pre- Employment Requirements: Final candidates will be required to pass a background check and provide professional references.

Full Circle is proud to be an equal opportunity employer, and while we have a set of preferred qualifications listed, if you have other experience that you think is related, please apply.