Assistant Director, Preservation

Description

• Provide hands-on oversight and supervision in managing complex, high-risk, or multi-property transactions, ensuring compliance, effectiveness, and alignment with IHDA’s strategic goals.
• Represent IHDA in high-level partnerships and collaborations with other government entities, financing institutions, developers, and advocates.
• Lead the Preservation Team’s strategy and operations, managing initiatives that preserve IHDA-owned and financed assets.
• Supervise the creation and implementation of internal dashboards, reporting systems, and external data-sharing mechanisms to support transparency and performance evaluation.
• Ensure preservation strategies align with regulatory frameworks and IHDA’s broader asset management goals.
• Direct the day-to-day operations and long-term planning of the Preservation Team in executing preservation initiatives in key areas including Real Estate Owned (REO) property management, Year 14 LIHTC outreach strategy, troubled asset resolution, portfolio stabilization/transactions, rental assistance program administration, physical inspections, and new program development.
• Oversee the development and management of new and existing programs, including policy creation, RFP design, funding deployment, and performance tracking.
• Serve as a senior advisor to the Managing Director and leadership team on preservation priorities, transactional strategy, and risk mitigation.
• Initiate proactive outreach to portfolio sponsors/property management agents by leading/staffing interdepartmental coordination to reduce financial, regulatory, and reputational risk in IHDA financed properties.
• Identify gaps in policy or practice and drive improvement efforts across departments and external agencies.
• Support professional development and foster a collaborative, accountable, and mission-driven team culture that promotes innovation and customer service.
• Ensure the team’s work aligns with federal, state, and IHDA policies, identifying and implementing process improvements and policy enhancements as needed.
• Serve as the primary escalation point for staff by recommending preservation policy, setting workflow priorities, assigning responsibilities, and overseeing the execution of strategic initiatives that stabilize and preserve affordable housing assets.

Requirements

• Familiarity with federal and state housing policies and regulatory compliance.
• Bachelor’s degree in real estate, finance, public administration, urban planning, or a related field required; master’s degree preferred.
• Strong verbal and written communication skills, with experience presenting complex issues to executive leadership or governing boards.
• Deep knowledge of affordable housing programs including LIHTC (Right of First Refusal, Qualified Contracts, and Syndication), HOME, Section 811 Rental Assistance, and Housing Trust Fund.
• Experience leading cross-agency or intergovernmental preservation efforts for at-risk multifamily transactions and/or portfolios.
• Currently in a hybrid work arrangement, but candidates must reside in Illinois at time of hire
• Strong strategic planning, project management, and leadership skills.
• Minimum of 10 years of progressively responsible experience in affordable housing asset management, preservation, or real estate development, including policy or project leadership.
• Ability to restructure financial underwriting as part of a work-out strategy, ability to mentor/supervise staff responsible for work-out strategies.
• Proficiency in Excel, asset management systems, dashboards, and reporting tools.
• Minimum of 7 years of experience in managing a specialized or cross functional team of professionals responsible for financial and/or regulatory deliverables.

Benefits

• Short/long term disability
• 401K plan – immediate vesting
• Tuition reimbursement
• Flex spending
• IHDA employees may be eligible for federal loan forgiveness programs
• Medical/dental/vision/life insurance plans
• Salary range: $131,761 - $164,701
• Paid time off, plus paid holidays

Training + Development

Interview process

Visa Sponsorship

Security clearance