Vice President Asset Management Jobs in Boca Raton, FL

About ACRUVA Capital Partners
Founded in 2020, ACRUVA Capital Partners (ACP) is a boutique, real estate investment and development firm based in Deerfield Beach, Florida, with additional operations in San Juan, Puerto Rico. ACP operates through a joint venture structure, partnering with ADC Communities (a Walker & Dunlop subsidiary) to finance, develop, and preserve affordable multifamily housing across the U.S. and Puerto Rico.

Mission & Vision
ACP aims to expand access to safe, stable, and healthy housing for extremely low- to moderate- income families, elderly individuals, and those with special needs acruvacp.comacruvacp.com. Their vision is to build resilient, sustainable, equitable rental communities by using innovative technologies to reduce costs and accelerate delivery timelines.

Position Summary
The Vice President of Construction Management will report directly to the President and Chief Development Officer and together with the VP of Development and VP of Finance will manage all construction-phase activities for the Company’s affordable housing development portfolio (primarily LIHTC-funded new construction and preservation projects). This role provides strategic and operational leadership of the construction management function, ensures adherence to regulatory and funding program requirements (HUD, LIHTC, Section 3, Davis-Bacon, etc.), drives schedule and cost performance, coordinates with development, finance, asset management, third- party consultants and general contractors, and supports process improvements, PCOs, CO, RFIs, risk mitigation and quality assurance across the portfolio.

This position requires deep knowledge of affordable housing development and construction management in multifamily residential projects, government regulatory compliance (especially HUD, Davis-Bacon, Section 3), proficiency in construction contracts, change-order management, drawdown processes, general contractor oversight, construction safety, and collaboration across internal and external stakeholders.

Strategic & Leadership Responsibilities

• Provide senior leadership, vision and direction for the construction management organization within ACP — establishing policies, procedures, best practices, standard operating protocols and documentation frameworks to ensure consistent, high-quality project delivery across multiple simultaneous developments.
• Partner with senior leadership (Development, Finance, Accounting) to integrate construction management strategy into overall development planning (pre-development, procurement, financing, entitlements, design, construction, lease-up, conversion).
• Serve as a key member of the project executive leadership team and represent ACP in construction-related discussions with joint-venture partners, lenders, equity syndicators, public agency stakeholders, general contractors, design professionals and local jurisdictions.

Project & Construction Oversight

• Oversee all construction-phase activities for each assigned development (new construction and preservation) funded with LIHTC and other affordable housing sources, from groundbreaking through final completion, stabilization and hand-off to property and asset management.
• Establish and monitor construction schedules, baseline budgets, milestone tracking, critical
  path management, identifying and proactively addressing delays or cost overruns.
• Manage the general contractor selection process with support from the development team: RFP/RFQ issuance, prequalification, bidding, contract negotiation, contract execution, construction schedule and cost negotiations, value-engineering reviews, and trade contractor oversight.
• Oversee construction contract administration: review and execute contract documents, change orders, contingency management, and maintain an accurate and auditable trail of documentation (contracts, subcontracts, draws, lien waivers, certificates of occupancy, punch lists, warranties).
• Monitor and approve monthly construction pay applications, draw-downs, pay-when-paid or pay-if-paid requirements, general contractor requests, and ensure alignment with the project financing requirements and regulatory draws while working directly with Development and Accounting departments.
• Perform regular site visits, inspections, and meetings (pre-construction, bi-monthly field meetings, trade coordination, quality control/assurance walkthroughs, safety audits) to ensure compliance with design intent, cost targets, schedule commitments, construction quality, safety standards and code/regulatory requirements.
• Ensure that all construction work meets applicable building codes, accessibility standards (e.g., Section 504/ADA), green building requirements (if applicable), and meets ACP’s standards for sustainability, durability and long-term affordability.

Regulatory Compliance & Funding Requirements

• Maintain thorough knowledge of, and ensure compliance with, affordable housing construction funding/regulatory requirements including, but not limited to:
• Low Income Housing Tax Credit (LIHTC) program (9% and 4%), and associated layered financing structures.
• U.S. Department of Housing and Urban Development (HUD) programs and regulations, as applicable (including project‑based vouchers, HOME, CDBG, RAD conversions, etc.).
• Davis‑Bacon Act — ensure prevailing wage requirements are met on construction contracts where required.
• Section 3 of the Housing and Urban Development Act of 1968 — ensure compliance with Section 3 hiring/training requirements, reporting and outreach.
• Local and state affordable housing program requirements (state housing finance agencies, bonds, tax credit allocations, local subsidies) and their construction
  compliance obligations.
• Environmental review, historic preservation, zoning/permitting, labor standards, safety regulations (OSHA), lien/warranty, insurance requirements, change-order audit trails and closing documentation.
• Develop, implement and monitor internal control systems for construction compliance — including documentation checklists, audit readiness, draw certification, contractor reporting, regulatory certification (prevailing wage, Section 3), and coordinate with third‑party compliance/monitoring firms.
• Coordinate with finance/accounting teams to support regulatory draw requests, audit responses, investor/lender reporting, and construction close‑out to permanent financing/lease‑up phase.
• Ensure proper documentation of contractor/compliance training (especially for Section 3), contractor pay records for Davis‑Bacon, subcontractor reporting, and support compliance reviews.
• Stay current on relevant regulatory updates and industry best practices (federal/state/local affordable housing construction compliance) and provide training/education internally to team and contractors.

Financial Oversight & Risk Management

• In collaboration with the Development, Accounting and Finance departments, monitor construction budgets, contingencies and reserves — ensure cost management and value engineering practices are integrated from the pre‑construction phase through close‑out. Provide regular construction cost and schedule reports to senior management and JVs/partners/investors: budget vs actual, cost to complete, risk analysis, projected completion dates, earned value metrics, potential change‑order exposure, contractor performance metrics.
• Identify cost overruns, schedule slippages and potential exposures ahead of time; develop mitigation strategies, contingency draw plans, recovery schedules, and escalate appropriately.
• Collaborate with development, accounting, and finance teams to align construction financing (construction draws, lender requirements, equity investor requirements, debt service coverage, lease‑up projections) and ensure successful timely conversion to stabilized operations.
• Establish key performance indicators (KPIs) for construction performance (schedule adherence, budget variance, change‑order percentage, safety incident rate, quality defects, contractor claim history) and track performance across the portfolio.

Stakeholder & Partner Management

• Act as primary construction‑management liaison between internal teams (development, finance, accounting) and external stakeholders (general contractors, architects, engineers, municipal authorities, lenders, tax credit syndicators, joint‑venture partners, public agency funders).
• Lead construction coordination meetings, status updates, design and construction workshops, risk review sessions, and present to senior management, board of directors or partner committees as required.
• Maintain strong relationships with construction industry professionals, affordable housing contractors, local municipalities, housing finance agencies, and community stakeholders to facilitate approvals, community outreach, and successful project delivery.
• Represent ACP at public hearings, municipality meetings, contractor bid solicitations, and industry forums as needed.

Quality, Sustainability & Community Impact

• Ensure that ACP’s projects meet the company’s strategic goals of resilient, sustainable, equitable housing — including energy efficiency, durability, life‑cycle cost considerations, and social impact (e.g., accessible units, community amenities, special needs populations).
• Oversee post‑construction close‑out processes: punch‑list completion, turnover to property management/asset team, warranty tracking, final lien waivers, occupancy permits, lease‑up hand‑off, and long‑term operations transition.
• Monitor and evaluate contractor performance post‑occupancy: defects, warranty claims, maintenance issues, and feed insights back into future procurement and construction best practices.

Key Qualifications & Experience

• Bachelor’s degree in Construction Management, Civil Engineering, Architecture, Real Estate Development, or related field; Master’s degree or MBA is a plus.
• Minimum of 5‑7 years of progressive construction management experience in multifamily residential development (preferably affordable housing), with at least 3 years at a senior leadership/VP level or equivalent.
• Demonstrated experience managing multiple simultaneous new‑construction and/or substantial preservation affordable housing developments funded with LIHTC – including experience with 9% and/or 4% credits, layered financing, equity syndication, permanent financing.
• Strong working knowledge of HUD programs/regulations, LIHTC program compliance, and state/local housing finance agency construction and funding requirements.
• Deep understanding and proven implementation experience in Davis‑Bacon prevailing wage requirements, Section 3 hiring/training/measuring, and other labor/contractor compliance matters in affordable housing construction.
• Demonstrable track record of delivering projects on schedule, on budget, while maintaining high quality and compliance standards.
• Strong skills in construction contract administration, budgeting, scheduling, change order management, cost control, risk mitigation, and project management software/tools (e.g., Procore, Northspyre, SmartSheet).
• Excellent leadership, communication, stakeholder management and interpersonal skills – ability to engage internal teams, external partners, contractors, municipal agencies, lenders/investors, community stakeholders.
• Strong analytical and reporting skills – ability to provide meaningful metrics, interpret cost/schedule data, prepare executive‑level dashboards, and present to senior leadership and investors.
• Knowledge of sustainable building practices, durability, energy efficiency and affordable housing amenities preferred.
• Experience working in multi‑jurisdictional environments (Florida and other U.S. markets) is a plus.
• Commitment to mission‑driven work in affordable housing, equity, and community development consistent with ACP’s values of compassion, respect, integrity and equality. (acruvacp.com)
• Location: Headquartered in Deerfield Beach, Florida (800 Fairway Dr., Suite 250) with travel to project sites nationally as needed.
• Work environment: Mixture of field site presence (construction sites, inspections, weekly meetings) and office/virtual meeting environment. Significant travel may be required to active projects, public hearings, partner meetings, and field oversight.

Performance Metrics & Success Indicators

• Timely achievement of construction milestones (groundbreaking, building permit, vertical construction, certificate of occupancy) for each project.
• Construction budget variance (actual vs‑budget) within acceptable thresholds (e.g., < 5 % variance on direct construction cost, overall project budget targets met).
• Schedule adherence (percentage of projects completed within baseline schedule or timely recovery plan implemented).
• Change‑order percentage kept within target thresholds (e.g., as agreed across portfolio).
• No major compliance exceptions or audit findings related to HUD, LIHTC, Davis‑Bacon, Section 3 or other funding requirements.
• Contractor performance ratings (safety incidents, quality defect rate, warranty claims, punch list close‑out time) meet or exceed portfolio benchmarks.
• Effective hand‑off to asset management/operations with minimal delay or cost overrun in lease‑up and stabilized operations.
• Implementation of process improvements and standardization of construction‑management protocols, leading to measurable efficiency/quality gains across the portfolio.
• To be determined based on candidate experience and market. Should include base salary, annual bonus tied to portfolio performance metrics, incentive bonus participation, and standard benefits package, opportunity to work in mission‑driven affordable housing development.

Equal Opportunity Statement
ACRUVA Capital Partners LLC is committed to fostering an inclusive and welcoming environment. We do not discriminate based on race, color, religion, gender, gender expression, age, national origin, disability, marital status, sexual orientation, military status, or any other characteristic p