Associate Asset Manager

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating and preserving quality affordable housing for low wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner of affordable housing with an expanding portfolio of owned assets across the country.

Our fast-growing organization is currently seeking a detail-oriented and experienced Associate to join the expanding Asset Management team as an integral part of the growth of HHAD’s affordable housing business. The ideal candidate will possess strong organizational, analytical, and communication skills and demonstrate the ability to manage multiple stakeholders and regulatory requirements in a collaborative environment, excel in a fast-paced working environment, as well as possess the ability to manage multiple projects in various stages of the deal cycle at a given time. This position works in close coordination with HHAD’s Pre-Stabilization Asset Management team and is based in our Raleigh, North Carolina office, reporting to the Vice President of Asset Management.

The Asset Management Associate will play a critical role in managing post-financial-closing activities for affordable housing development projects. This position will oversee all aspects of project tracking, communication, and compliance to ensure successful completion, lease-up, stabilization, and handoff to the Asset Management Ownership team. The role requires a strong ability to coordinate across teams and stakeholders while maintaining precise records and meeting deadlines. This position requires a great deal of autonomy and accountability, along with experience in critical thinking and problem solving, researching, negotiating, networking, and teamwork.

Primary Duties and Responsibilities:

• Project Oversight and Monitoring:
  • Participate in or lead post-closing project meetings and report on progress of assigned projects.
  • Manage equity installment tracking and ensure timely disbursements in accordance with funding agreements.
  • Collaborate with the Construction Team to monitor progress, report on changes, and address issues as needed.
  • Utilize Smartsheet to manage project plans and schedules, ensuring adherence to deadlines and milestones.
  • Identify and implement process improvements to enhance the efficiency and effectiveness of the post-closing process and obligations.
• Stakeholder Communication:
  • Serve as the primary point of contact for developer partners, lenders, investors, and other key stakeholders.
  • Provide updates and reports to stakeholders regarding project status, construction progress, and compliance.
  • Manage relationships with external regulatory agencies, auditors, and legal advisors.
• Compliance and Financial Management:
  • Review project partnership and financial (lender and investor) documents to ensure funding terms and conditions are consistently maintained.
  • Oversee and submit State Agency Placed In Service applications, IRS Form 8609s, and ensure compliance with LIHTC and USDA RD515 program requirements.
  • Participate in the permanent loan conversion process and ensure all lender requirements are satisfied.
  • Track and resolve post-closing due diligence items, including environmental report conditions.
  • Oversee the final cost certification process, ensuring accuracy and timely completion.
  • Maintain current working knowledge of industry trends, best practices, as well as state and federal regulations regarding affordable housing finance and programs.
• Construction and Lease-Up Coordination:
  • Track the project’s achievement of Certificates of Substantial Completion (CSC), Temporary Certificates of Occupancy, and Final Certificates of Occupancy in accordance with stakeholder requirements.
  • Collaborate with property management teams on lease-up efforts to ensure stabilization and occupancy targets are met.
  • Facilitate the transition of properties from contractor to property management, ensuring all warranty items are resolved.
• Reporting and Handoff:
  • Oversee the preparation and submission of the project’s First Annual Compliance Report, as may be required by the State Housing Finance Agency or other stakeholders.
  • Manage the turnover process of stabilized projects to the post-stabilization Asset Management team.
  • Ensure third party management agent adherence to all local, state, and federal housing regulations, including LIHTC, HUD, and Section 8 programs, as well as fair housing laws and other regulatory requirements across the portfolio.
  • Oversee accurate and timely reporting required for LIHTC, HUD, and other affordable housing programs.

Experience, Skills, and Abilities Required: 

• Bachelor’s degree in Real Estate, Finance, Business Administration, or a related field.
• 3+ years of experience in affordable housing development, asset management, or real estate.
• Experience with LIHTC, USDA RD515, and affordable housing compliance preferred.
• Proficiency in Smartsheet and Microsoft Office Suite (Excel, Word, PowerPoint).
• Familiarity with construction management and property operations is a plus.
• Demonstrated excellent analytical, problem-solving, and decision-making skills.
• Ability to recognize and mitigate investment risks.
• Ability to interpret and implement complex regulations, providing clear guidance to teams and management agents.
• High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrated ability to successfully manage multiple projects and successfully work under pressure of strict deadlines.
• Excellent written and oral communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing to diverse teams.
• Advanced computer skills (Microsoft Office Suite, Adobe, SharePoint, Smartsheet, and other similar programs).
• Exceptional customer service and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Ability to manage daily responsibilities and projects with minimal direction, while also working in close collaboration with a team to provide solutions where needed.
• Ability to maintain a “big picture” focus while attending to incredibly detailed work and providing thorough documentation.
• Resourceful, flexible, and maintain the ability to react and respond quickly toward positive outcomes.
• Strong personal standards and values consistent with HHAD’s core values (entrepreneurial, integrity, caring, and excellence).

A satisfactory background check will be required as part of the selection process.

At Harmony Housing Affordable Development, we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build an inclusive work environment that celebrates differences and empowers all individuals with opportunities to channel their entrepreneurial spirit. Harmony Housing Affordable Development is an EEO employer.

This job description is not inclusive of all responsibilities, skills, requirements, efforts, or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position, management reserves the right to modify the position or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.