Investment Director

The Director of Investments of American Housing Company (AHC) will serve as the operating executive responsible for building and scaling a vertically integrated affordable housing development platform utilizing Low-Income Housing Tax Credits (LIHTC) as the sole public financing mechanism.

This role owns the full development lifecycle from site origination through financial closing, construction capitalization, lease‑up stabilization, and institutional asset transition.

The Director will build AHC into a repeatable, capital‑efficient, institutional‑grade engine capable of delivering 2,000+ units annually across California and nationally.

This is not a portfolio oversight role. It is a hands‑on, production‑driven, platform‑building position with direct accountability for unit count, capital placement, and execution velocity.

Realistic Annual Total Compensation: $450,000;
No Max Bonus;
Not Including Promote

• Source, negotiate, and secure site control for LIHTC‑qualified development sites
• Establish and lead weekly Site Investment Committee
• Standardize underwriting and site qualification framework
• Own 4% LIHTC application strategy
• Lead submissions to CDLAC, CTCAC, and other allocating agencies
• Coordinate consultants, legal, architects, and financial modelers
• Drive deficiency resolution and timeline compliance
• Institutionalize internal LIHTC tracking systems
• Create structured award‑to‑close transition protocols
• Secure competitive LIHTC equity pricing (minimum 3 LOIs per deal)
• Lead negotiations with tax equity syndicators
• Arrange construction and permanent financing
• Structure JV waterfalls and sponsor promote economics
• Optimize capital stack to maximize IRR and equity multiple

• Develop institutional‑quality proformas and investment memos
• Create data rooms and investor pitch materials
• Units awarded
• Units closed
• Equity pricing

• 10–15+ years in LIHTC development
• Direct track record closing $250M+ in LIHTC equity
• Experience with both 4% credits
• Deep working knowledge of CDLAC, CTCAC, and CA TCAC scoring systems
• Closed multiple bond‑financed affordable housing deals
• Demonstrated ability to manage full capital stack:
• Tax‑exempt bonds
• JV equity
• Advanced LIHTC underwriting
• Ability to structure sponsor promotes and waterfalls
• JV structuring
• Debt sizing and DSCR modeling
• Capital stack optimization
• Institutional reporting and investor relations

• Built or scaled a development platform
• Implemented underwriting templates
• Built internal committee processes
• Managed 5–15 active deals simultaneously
• Created repeatable deal flow strategy

• Capital markets credibility
• Comfort negotiating with syndicators and banks
• High‑urgency operator mindset
• Strong political and agency navigation skill
• Ability to recruit and manage consultants