April Housing is a leading owner and operator of high-quality affordable housing throughout the United States. Founded in 2022 and headquartered in Los Angeles, April Housing is the asset management business that oversees Blackstone's affordable housing and LIHTC portfolio. April oversees a portfolio of over 70,000 affordable housing units. April Housing seeks to preserve critical affordable housing stock while providing best in class management and high-quality housing. April is committed to being a fair, transparent, and responsible owner.
April Housing’s long-term commitment to owning affordable housing is supported by Blackstone Funds, predominantly BREIT, a non-listed REIT. This perpetual capital vehicle provides April with a patient and flexible source of capital and plays a critical role in enabling the creation and preservation of more affordable housing. In addition to managing a growing portfolio, April Housing will ensure assets in the existing portfolio remain affordable and in compliance with all rent regulations while making significant improvements and aligning the operations with April Housing's Standards of Excellence in Residential Operations.
In its pursuit of excellence, April Housing is looking for individuals who share in its mission to provide high-quality housing to affordable residents.
As of the date on which this job advertisement is posted, the Company anticipates that the base salary range for this role is $85,000- $105,000 (this represents the presently-anticipated low and high end of the Company’s base salary range for this position). This position is also eligible for discretionary bonus on an annual basis. Actual base salary range may vary based on various factors, including but not limited to location and experience.
The Assistant Project Manager’s primary responsibility is to support the Preservation and Investment departments (under direction of Resyndication Project Managers and Head of Preservation) to complete Year 15 resyndications/ acquisition and rehabilitation transactions.
- Provides support to several Project Managers as needed in connection with acquisition/rehabilitation transactions, developing systems and processes to manage and track necessary documents and letters; communication across with internal staff; management of relevant consultants; management of construction and permanent loan closing due diligence and internal document review.
- Identifies necessary information and assembles tax credit and tax-exempt bond applications and bond inducement packages.
- Prepares and submits funding draws to various financial institutions during the rehabilitation stage.
- Performs relevant aspects of due diligence review including reviewing preliminary title reports, appraisals, market studies, Physical Needs Assessments, and relocation plans. Manages due diligence portion of closings.
- Gathers data required to analyze preliminary financial projections for potential transactions; updates projections as needed.
- Prepares construction bidding and contract materials.
- Analyzes funding competition and scoring of competitive applicants in connection with various sources.
- Manages aspects of tenant relocation process (in collaboration with asset management, property management, and relocation consultants).
- Provides input, analysis, and recommendations for development team member selection, including contractors and construction managers.
- Represents April Housing at certain industry conferences
Qualifications:
- Qualified candidates must have a Bachelor’s degree and some related work or field work experience in matters related to affordable housing development such as residential architecture, finance, planning, construction, etc.
- Exposure to private and public debt financing.
- At least one successful LIHTC financial construction closing a plus.
Qualified applicants with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers, the California Fair Chance Act and any other applicable city, county, or local ordinances. Good cause exists for a criminal background check because one of the material duties of this position requires access to sensitive financial information and confidential and proprietary information and accordingly requires the candidate to possess a high level of integrity and discretion. The Company faces a significant risk to its business operations or business reputation if a criminal history check is not performed. A criminal history that has a direct, adverse, and negative relationship with these material duties may potentially result in the withdrawal of a conditional offer of employment.
