LIHTC Development Manager

COMPANY DESCRIPTIONVersatile Developments, specializes in developing affordable housing solutions with a focus on Low-Income Housing Tax Credit (LIHTC) projects. Based in Waco, TX, our team is highly experienced in creating sustainable housing communities that positively impact both residents and neighborhoods. We pride ourselves on delivering high-quality, innovative developments that meet the needs of the communities we serve. Versatile Developments is dedicated to fostering growth through collaboration and expertise in the affordable housing sector.JOB DESCRIPTIONVersatile Developments is seeking a driven and highly capable LIHTC Development Manager to take ownership of day-to-day execution across our affordable housing portfolio. This is not an assistant role — this person runs point on assigned deals from predevelopment through closing, managing all timelines, third-party coordination, financial modeling, and application deliverables.Immediate focus will be on two active developments: Marshall Lofts (LIHTC + Historic Tax Credit — adaptive reuse) and a Corpus Christi Acquisition/Rehab project (4% LIHTC). The successful candidate will allow leadership to redirect time from daily deal management toward capital markets, partnerships, and pipeline growth.People with a criminal record are encouraged to apply.KEY RESPONSIBILITIES1. Deal Execution & Project ManagementManage day-to-day progress of assigned LIHTC developments from predevelopment through closingMaintain and update project schedules, milestones, and critical path itemsTrack all deliverables required for LIHTC applications and debt/equity closingsIdentify risks early and escalate appropriately to leadershipReduce executive involvement in daily deal management through organized, proactive execution2. Financial Modeling & UnderwritingBuild and maintain development budgets and operating pro formasUpdate Sources & Uses as project inputs changeAnalyze and optimize eligible basis/qualified basis, developer fee and deferral, debt sizing and DSCR, and equity pricing assumptionsEnsure alignment between underwriting assumptions and real-time project costs3. LIHTC Application & Program ExecutionLead coordination of TDHCA applications (4% and/or 9%)Manage procurement and review of third-party reports:Market Study, Appraisal, Capital Needs Assessment (CNA), EnvironmentalEnsure compliance with TDHCA requirements, bond financing rules, and HTC requirements (Marshall Lofts)Track and manage post-award requirements and agency correspondence4. Consultant & Team CoordinationServe as primary point of contact for architect, engineer, general contractor, LIHTC/HTC consultants, and attorneys/bond counselReview plans, reports, and budgets for consistency with underwritingKeep all parties aligned on schedule, deliverables, and open items5. Public & Agency CoordinationInterface with Housing Authorities (GP partners), bond issuers (TDHCA, HFCs), and city staff/economic development teamsSupport execution of PFC structures (tax exemption), PBV strategy coordination, and local incentives (TIF, grants, etc.)6. Closing & Capital CoordinationHelp manage closing process across lenders, equity investors, and legal teamsTrack due diligence and closing checklists to ensure completeness and accuracyEnsure all financial and project data is consistent across all stakeholders7. Administrative & Reporting SupportDraft and review development proposals, proformas, funding applications, and compliance reportsOrganize and maintain detailed records of communications, submissions, and agency responsesPrepare internal summaries and status reports for senior leadershipManage calendars, schedule meetings, and coordinate across the development teamSCOPE & BOUNDARIESThis role owns execution. The following remain with leadership:Capital raising and investor relationship managementHigh-level deal structuring decisionsFinal go/no-go project decisionsThis role supports and informs these decisions through organized, accurate, and timely execution.REQUIRED QUALIFICATIONSMinimum 2 years of direct experience with LIHTC applications and affordable housing development (LIHTC: 1 year minimum required)Strong, working knowledge of 4% and/or 9% LIHTC programsDemonstrated ability to independently build and manage development budgets and pro formasExperience in Real Estate, Urban Planning, Public Administration, Finance, or equivalent professional experience (Urban Planning: 1 year minimum required)Solid understanding of affordable housing financing structures including LIHTC, HOME, and CDBGExcellent project management, organizational, and written/verbal communication skillsProficient in Microsoft Office Suite (Word, Excel, Outlook) and Adobe AcrobatAbility to independently manage consultants and push deliverables without daily supervisionAbility to manage multiple priorities and deadlines simultaneously     Must be able to commute to or relocate to Waco, TX 76701PREFERRED QUALIFICATIONSExperience with TDHCA applications and familiarity with Texas Qualified Allocation Plan (QAP)Experience working with or for a real estate development company, housing finance agency, or tax credit syndicatorFamiliarity with Historic Tax Credit (HTC) projects and adaptive reuse developmentsUnderstanding of bond financing structures, PFC structures, and local incentive programs (TIF, grants)Understanding of zoning, permitting, and entitlements processesSpanish language proficiency (Preferred)EXPECTED OUTCOMES (FIRST 6–9 MONTHS)Marshall Lofts and Corpus Christi deals are fully organized, tracked, and advancing without daily executive involvementLIHTC application(s) and/or closing processes are owned and managed through this roleAll third-party coordination flows through a single, accountable point of contactLeadership time spent on execution is reduced by 50% or moreWHAT WE OFFERCompetitive salary commensurate with experienceOpportunities for professional development and career advancementA mission-driven team environment focused on creating impactful, affordable housing solutionsDirect exposure to complex, high-impact LIHTC deals from day one