Trinity is a growing and inclusive Episcopal community in Lower Manhattan that seeks to serve and heal the world through a wide range of ministries and programs. Join a team of more than 200 employees in New York City who are working to make a difference in people’s lives and transform communities.
Our work is grounded in our core values of faith, integrity, inclusiveness, compassion, social justice, and stewardship.
Trinity’s culture celebrates diversity, and our employees come from a variety of cultural, religious, racial, ethnic, and professional backgrounds. We all share a common mission: to build generations of faithful leadership, to build up neighborhoods, and to build financial capacity for holy service in New York City and around the world.
The Mission Real Estate Development (MRED) team as part of the TCWS Philanthropies department focuses on building financial capacity for churches and seminaries (mission partners) internationally, nationally and in New York City to support ministry and social impact through the development of income producing real estate projects (affordable housing, student housing, education, healthcare, hospitality, office and other mixed-use) on land controlled by our mission partners. This work is achieved through grants, advisory services, and mission (impact) investing. This position will build relationships with mission partners and help them conceptualize and implement missionally-aligned development strategies and projects.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Real Estate Development Advisory Support
- Significant focus on providing strategic advisory support to guide mission partners through the mission real estate development process which includes the discernment, preparation, development, asset management and impact stages of real estate project development.
- Assist mission partners in discerning their vision, resources and plan for mission real estate development and help identify desired impact on the church and community.
- Guide mission partners in determining land use strategy, formulating a development concept, transaction structures, selecting development partners, and developing masterplans, project design, budgets, and schedules.
- Evaluate organizational capacity, project feasibility, risk assessment, and due diligence for real estate development opportunities. Develop processes and templates to support development advisory work.
- Help mission partners facilitate the procurement of RFPs from technical experts, developers, and for potential application for grant funding and/or mission investing.
- Manage a portfolio of grants focused on real estate development projects in line with strategic funding priorities. Identify potential grantees aligned with Trinity’s core values and help them navigate the grant application process.
- Manage ongoing relationships with grantees – from initial contact and receipt of grant proposal through grant funding and monitoring to ensure compliance with all financial, legal and other Trinity requirements and support ongoing monitoring and learning.
- Plan, coordinate grantee convenings, workshops, and other events.
- Identify and prepare case studies, online resources, and other opportunities to communicate Trinity’s impact and share learnings in collaboration with Communications & Marketing and Monitoring, Evaluation & Learning staff.
- Keep abreast of emerging mission real estate development and impact investing issues locally, nationally, and internationally and cultivate relationships with developers, technical experts and other funders through the real estate and philanthropies industries.
- Originate direct real estate mission investing opportunities primarily in New York City. Collaborate with Trinity investments, the housing & homelessness initiative, and other departments in structuring, underwriting, and presenting such opportunities for consideration by various Trinity committees.
- Evaluate the financial feasibility of proposed projects through financial due diligence, market analysis and sponsor evaluation.
- Provide development and asset management oversight of such direct real estate mission investments.
- Cultivate strong relationships with leaders in the church, both domestically and internationally to understand their priorities, challenges, and opportunities in relation to mission real estate development.
- Identify and assess grant and partnership opportunities with a missional mindset, financial acumen, and political savvy.
- Oversee financial modeling of pro-forma cash flows and investment return analysis.
- Prepare comprehensive investment summary memoranda and presentations.
- Interface with development/investment partners, grantees, property managers, consultants.
- Maintain CRM notes for investor/partner and project tracking.
- Establish/refine systems to monitor project schedules and budget compliance.
- Represent Trinity in external meetings and convenings, when appropriate.
- Contribute to an entrepreneurial work environment and positive culture of high impact, focused on outcomes.
- Manage consultants ensuring high performance and accountability.
- Assume other related responsibilities and special projects as required.
REQUIRED KNOWLEDGE, SKILLS, AND ACTIVITIES
- Significant knowledge of affordable and/or supportive housing development including use of low-income housing tax credits (LIHTC), tax exempt bonds, state/federal capital programs, and mixed-finance deals.
- Significant knowledge of building design, development and construction.
- Proficient in reading surveys, title reports, architectural and engineering drawings and specifications.
- Skilled at working in an advisory/client support role and in negotiating ground leases, operating leases, financing, and development related contracts including joint ventures.
- Experience in grant-making and managing relationships with grantees
- Strong quantitative, financial, and analytical skills including a forensic level of attention to detail
- Solid grasp of finance concepts (I.e., IRR, NPV, FV, PV, ROI, ROC)
- Understanding of real estate valuation concepts (I.e., Cap Rates, Price/RSF vs BSF vs LF)
- Strong oral and written communication skills
- Highly organized
- Thrives under demanding time constraints and deadlines
- Self-confident, results-oriented with a superior service mentality and excellent listening skills
- Team-oriented and collaborative
- Project (vs task) oriented, anticipates challenges and questions
- Willingness and ability to travel (domestically and internationally)
- Able to set priorities and self-manage with minimal supervision
- Comfortable multi-tasking with multiple projects at a time
- Willingness and ability to train and mentor others
- Desire to be involved with a broad range of real estate transactions across multiple markets in a lean, values-based and mission-focused organization
REQUIRED AND PREFERRED EDUCATION, EXPERIENCE, AND CREDENTIALS
- At least 7-10 years of progressive development experience in affordable housing, multifamily, commercial, and/or mixed-use land development projects.
- Experience working with non-profits, in a faith context such as the Anglican Church and/or deep knowledge of the various cultural and socio-political contexts of global mission partners.
- Bachelor’s degree in Urban Planning, Engineering, Construction, Architecture or related field (MS or MBA in Real Estate Development a plus)
- Software skills (ARGUS, Microsoft Excel, PowerPoint, Word, Project, Autocad)
How To Apply
Please apply online at https://trinitywallstreet.org/about/careers