LIHTC Development Manager

Versatile Developments is seeking an experienced LIHTC Development Manager to take direct ownership of affordable housing deals from predevelopment through closing. This is a senior execution role - not an assistant position. You will manage active projects, lead LIHTC applications, coordinate all third parties, and maintain deal momentum without daily executive oversight.

Immediate projects include Marshall Lofts (LIHTC + Historic Tax Credit, adaptive reuse) and a Corpus Christi 4% LIHTC acquisition/rehab development., Deal Execution & Project Management

• Own day-to-day progress on assigned LIHTC developments
• Maintain project schedules, milestones, and critical path items
• Track all deliverables required for LIHTC applications and debt/equity closings
• Identify risks early and escalate to leadership when needed

Financial Modeling & Underwriting

• Build and maintain development budgets and operating pro formas
• Update Sources & Uses as project inputs change
• Analyze eligible basis/qualified basis, developer fee and deferral, debt sizing, DSCR, and equity pricing
• Ensure alignment between underwriting and real-time project costs

LIHTC Application & Program Execution

• Lead TDHCA 4% and/or 9% application coordination end-to-end
• Manage third-party reports: market study, appraisal, CNA, and environmental
• Ensure compliance with TDHCA requirements, bond financing rules, and HTC requirements

Consultant & Team Coordination

• Serve as primary point of contact for architect, engineer, GC, LIHTC/HTC consultants, and bond counsel
• Review plans, reports, and budgets for consistency with underwriting
• Keep all parties aligned on schedule and open deliverables

Agency & Public Coordination

• Interface with housing authorities, bond issuers (TDHCA, HFCs), and city/economic development staff
• Support execution of PFC structures, PBV coordination, and local incentive programs (TIF, grants)

Closing & Capital Coordination

• Help manage closing process across lenders, equity investors, and legal teams
• Track due diligence and closing checklists through to completion

Reporting & Administration

• Prepare internal status reports for senior leadership
• Maintain organized records of submissions, agency correspondence, and project documents
• Manage calendars and coordinate across the development team

• Minimum 2 years of direct experience with LIHTC applications and affordable housing development
• LIHTC: 1 year minimum (Required)
• Urban planning or related field experience: 1 year minimum (Required)
• Strong working knowledge of 4% and/or 9% LIHTC programs
• Ability to independently build and own development financial models
• Solid understanding of affordable housing financing: LIHTC, HOME, and CDBG
• Excellent project management, organizational, and communication skills
• Proficient in Microsoft Office Suite (Word, Excel, Outlook) and Adobe Acrobat
• Ability to commute to Waco, TX 76701 (Required)

PREFERRED QUALIFICATIONS

• Familiarity with TDHCA processes and Texas Qualified Allocation Plan (QAP)
• Experience with Historic Tax Credit (HTC) or adaptive reuse projects
• Understanding of bond financing, PFC structures, and local incentive programs
• Knowledge of zoning, permitting, and entitlements processes
• Experience with a real estate development firm, housing finance agency, or tax credit syndicator
• Spanish language proficiency (Preferred), * Urban planning: 1 year (Required)
• LIHTC: 2 years (Required)

Language:

• Spanish (Preferred)

Ability to Commute:

• Waco, TX 76701 (Required)

• Competitive salary commensurate with experience