The New York City Housing Authority (NYCHA) is seeking a high-level professional with a commitment to public service to join its executive team as its first Chief Asset & Capital Management Officer (CACMO). This is a very rewarding opportunity for someone with real estate, capital construction and budget management, and leadership skills to be able to make a positive impact in the lives of hundreds of thousands of New Yorkers.
Background: The New York City Housing Authority (NYCHA) is the nation’s oldest and largest public housing authority with more than 176,000 apartments and over 370,000 residents. NYCHA’s mission is to provide quality housing for New Yorkers that is sustainable, inclusive, and safe, while fostering opportunities for economic mobility. NYCHA also administers a citywide Section 8 leased housing program that serves over 200,000 tenants.
Position: Reporting to the Chair, the CACMO will be a leader and key member of the executive team who will help drive NYCHA’s ability to develop, build, and manage its real estate assets while meeting the needs of its tenants and the community at large. Specifically, they will oversee one of the largest capital programs in the nation as well as an historic real estate transaction portfolio. They will also be charged with building out NYCHA’s asset management function. This requires someone with a strong sense of commitment to public service, who has the ability to represent NYCHA in public forums, who understands the political environment in both NYC as well as on the state and federal levels, who is experienced in all of the intricacies of public housing, and who can both be a trusted advisor to the Chair and the executive team as well as a valued colleague.
The CACMO will be a highly intelligent, sophisticated and knowledgeable professional with significant experience in real estate as well as in managing large capital projects in a public environment. They must be capable of integrating smoothly into NYCHA’s business culture and will have strong interpersonal skills, excellent written communication and verbal presentation skills, a hands-on management style, and the ability to address and solve problems or issues as they arise. In addition, they should be diplomatic, of the highest integrity, and possess sound judgment as well as a sense of humor.
Specifics of the divisions:
Overseen by CPD, NYCHA’s Five Year Capital Plan (2020-2024) totals approximately $4.5 billion, which is allocated to capital improvement projects for infrastructure improvements, major modernization, other systemic upgrades, repair, and resiliency improvements. In addition to NYCHA’s significant capital commitments from Federal, State and City sources, NYCHA may also receive additional capital of scale at the Federal level.
REDD is responsible for forming, negotiating, and structuring partnerships to recapitalize and rehabilitate the Authority’s apartments. Its primarily responsible is to execute the Permanent Affordability Commitment Together (PACT) initiative, converting 62,000 units to the Project-Based Section 8 program to provide a more stable flow of federal subsidy and allow NYCHA and its development partners to raise financing to address the full capital needs of over one-third of the portfolio. To build a single pipeline for capital work and Section 8 conversions, the new team would work from a common set of priorities and bring comprehensive repairs to NYCHA apartments through strategic, data-driven portfolio planning and cost-effective project delivery and management.
In addition, as NYCHA moves to convert units from Section 9 to Section 8 project-based assistance, the CACMO would need to create new strategies and systems to enhance the functions of Asset Management. This area, which includes enforcing the long-term post-closing requirements of real estate transactions and the provisions of Section 8 Housing Assistance Payments (HAP) contracts, will grow in importance.
Responsible for integrating and aligning NYCHA’s Real Estate Development Department (REDD) and the Capital Projects Department (CPD).
Direct and guide the activities of both the Real Estate Development Department and Capital Projects Department to ensure strategic alignment
Align and structure CPD to reflect the complexities of the various projects undertaken, particularly comprehensive renovations spanning multiple build systems, building interiors and exteriors, and site and grounds improvements
Drive innovation in capital projects delivery, including embracing innovation in building materials and construction methods, integrating technology to enhance residents’ living experience and improving building performance and management
Coordinate across the organization to align operating and capital planning, including building opportunities for resident involvement in capital and real estate pipeline planning
Engage across the organization to align asset information system work to be able to evaluate asset performance and understand data metrics used in pipeline development
Build strong trust with residents and advocates to ensure comprehensive planning and decision making in the pipeline planning process
Create strategic partnerships with external stakeholders in the construction and real estate industries in order to enhance competition on NYCHA projects and increase our partnership pool
Strong Leader and Capacity Builder: a proven leader with experience in construction management, real estate transaction, and project management with the ability to lead a diverse and dynamic team. This includes the ability to cultivate entrepreneurship and ownership while enforcing accountability and maintaining high expectations of staff
Solutions-Driven Entrepreneur: a creative thinker, especially with experience in problem solving solutions both in the short and long term
Strategic Visionary: ability to project how future trends and consequences should drive present decisions
Exemplary Communicator: ability to communicate clearly, both verbally and in writing, capable of translating complex and potentially confusing information for a variety of stakeholders.
Qualifications: Please note you must make certain you meet the qualification requirements before applying to this position.
A baccalaureate degree from an accredited college or university, and five (5) years of full-time paid experience in an administrative, executive or consultative capacity in a large public housing agency; or
A satisfactory equivalent.
Preferred Qualifications and experience:
Competency in Project and/or Construction Management
Minimum 7-10 years of experience with construction and/or real estate transactions.
Experience with building design, development, construction and project management processes and procedures, including design/building contracting in a public environment.
Able to apply time management principles to complete multiple projects with competing priorities and deadlines with an ability to adapt to demands of changing workloads.
Strong working knowledge of New York City regulations and all applicable laws
Demonstrate impeccable ethical standards with a history of maintaining the highest levels of integrity and professionalism.
NYCHA employees applying for promotional, title or level change opportunities must have served a period of one year in their current title and level (if applicable).
NYCHA residents are encouraged to apply.
All positions at NYCHA are filled without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity or expression, disability, HIV/AIDS status, veteran status or any other characteristic protected by law. All are encouraged to apply.
To Apply: The New York City Housing Authority has retained the services of Harris Rand Lusk to conduct this search. Inquiries, nominations, and applications may be directed in confidence to:
Jack Lusk, CEO & Managing Partner or Anne McCarthy, COO Harris Rand Lusk 260 Madison Avenue New York, NY 10016 firstname.lastname@example.org
Please put “NYCHA CACMO” in the subject line of your e-mailed application.
The New York City Housing Authority (NYCHA) is the nation’s oldest and largest public housing authority with more than 176,000 apartments and over 370,000 residents. NYCHA’s mission is to provide quality housing for New Yorkers that is sustainable, inclusive, and safe, while fostering opportunities for economic mobility. NYCHA also administers a citywide Section 8 leased housing program that serves over 200,000 tenants.