Vice President of Property Management | Hispanic Housing Development Corporation

Hispanic Housing Development Corporation (HHDC) is seeking an experienced, mission-driven property management executive tooversee and direct property management activities related to the organization’s diverse residential portfolio of more than 3600 units in four states. The diverse portfolio includes a broad range of 41 affordable and mixed income properties, primarily in the metropolitan Chicago region. HHDC is one of the premier community development organizations in the US, led by Hipolito (Paul) Roldan, with a 42 year history of providing a gateway into America’s economic mainstream for working-class families by providing an affordable home base from which to grow their prospects and opportunities.

Hispanic Housing Development Corporation was organized as a nonprofit organization in 1975 to help create affordable housing in Chicago’s Latino neighborhoods. Over the subsequent 42 years, it has developed over 4200 homes, preserved more than 1700 affordable units, and served more than 7200 tenants. This represents $429 million in development of 54 distinct projects.

HHDC has developed a comprehensive, vertically integrated approach to create and maintain healthy communities. Fromhousing development to construction, to property management and energy sustainability, HHDC works from the ground-up to build strong communities. Neighborhood construction and rehabilitation projects create economic opportunities for residents, and property managers help enhance the quality of life for residents while maintaining the properties’ physical integrity.

HHDC has been led as CEO from its inception by Hipolito Roldan, a nationally respected community development leader and early recipient of a MacArthur Foundation “Genius Award”. He leads a staff which has grown to 178 employees, overseeing an annual budget of $7 Million. The Property Management Division is by far the largest division, with 149 of the 178 employees. The organization is governed by an 8 member board of directors with strong business leadership and professional skills.

Reporting to the CEO and the COO, the VP of Property Management is responsible for the overall successful operations of all of HHDC’s properties and works to ensure that the department meets or surpasses industry standards. The VP is a member of the HHDC Senior Management Team, along with the Executive Vice President, Chief Financial Officer, VPs of Real Estate Development, Acquisitions and Asset Management, and Chief Operating Officer of the Tropic Construction wholly-owned subsidiary, working to strategize short?range and long?range goals for the organization.

The VPPM manages what is by far the largest division of the HHDC, with a staff of 149 employees overseeing a portfolio of 3815 units in 2018. The portfolio includes family, veterans and elderly housing developments, ranging from 7 to 292 units, with affordability supported by a variety of subsidy programs ranging from Low Income Housing Tax Credits to Section 8,202 and 236 properties, to other state and local subsidies. The vast majority of the properties are located in the city of Chicago and its suburbs, with fewer properties in southern Wisconsin, northwest Indiana and Grand Rapids, MI.

Supporting the VP of Property Management in managing this large portfolio are a number of key positions including the Director of Property Management Operations, the Manager of Portfolio Services, a Fair Housing Compliance Manager and 5 Property Supervisors whose responsibilities are divided by a combination of geography and program expertise. In general, HHDC has a very stable property management and maintenance staff team, with many employees serving for 20 years or more.

Management responsibilities for the portfolio have recently been reorganized and maintenance oversight has been adjusted to increase efficiency. Most of the property management and maintenance staff is unionized, although some smaller properties are not unionized. Collections problems are being dealt with, and long term management succession planning has been done throughout the organization. Particular current challenges include solving some problems related to the rent structure, continuing to contain costs, keeping up with compliance issues related to LIHTC, and integrating the 5 new “ground up” projects that are currently in the pipeline.

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October 14th, 2018 by