Development Manager

Position Title: 

Development Manager- Senior Living 

Department: 

Evergreen Senior Living (ESL) 

Reports To: 

VP of Development (ESL) 

Location: 

Chicago (Hybrid), with periodic travel to Ohio project sites 

FLSA Status: 

Exempt 

Salary Range:  

$100,000-$130,000 + 10% bonus potential 

Job Summary 

Evergreen Real Estate Group is scaling a pipeline of 4% LIHTC Affordable Assisted Living (AAL) communities across Ohio under the Green Oaks brand. Each deal is a ground-up development financed with tax-exempt bonds, 4% LIHTC equity, and layered gap sources. Evergreen Senior Living (ESL) is seeking a Development Manager to work on every phase of these deals — financial modeling, funding applications, due diligence, closing, and construction-period execution. The Development Manager carries the analysis and the deal understanding that moves each project forward, and is a point of contact for investors, lenders, and agencies. 

Key Responsibilities 

Financial Modeling & Underwriting 

• Own the development proforma for each deal, maintaining the model from initial underwriting through application, closing, construction, and conversion 

• Run sources and uses, sensitivity analysis, and structuring scenarios 

Funding Applications & Public Finance 

• Lead preparation of 4% LIHTC and tax-exempt bond applications to OHFA and other state housing finance agencies, plus gap funding applications 

• Coordinate third-party reports — market studies, appraisals, environmental, and other diligence — to application and lender timelines 

Due Diligence & Closing 

• Own due diligence checklists across lender, investor, and operator workstreams; review and summarize key documents (loan documents, LPA, PSA, operating agreements) so the team can act on them 

• Drive the closing process: coordinate counsel, lender, syndicator, and operator; keep the model current; assemble closing packages 

Investor & Lender Communication 

• Prepare equity and debt packages and respond directly to investor and lender underwriting questions 

• Manage construction-period reporting to investors, lenders, and agencies, including draw support and conversion deliverables 

• Write internal analysis and reporting — pipeline updates, deal memos, and investment committee materials 

Predevelopment & Project Support 

• Support market research, demand analysis, site due diligence, and zoning and entitlement work, including meetings with local governments 

• Keep deal files organized and current on shared systems so anyone on the team can find what they need 

Education & Experience 

• Bachelor’s degree in real estate, finance, urban planning, business, or a related field 

• 5+ years of experience in LIHTC development or ground-up real estate development, with deals taken from underwriting or application through closing 

• Direct experience with state HFA applications, tax-exempt bond executions, or LIHTC equity closings strongly preferred; senior housing exposure a plus, not required 

Technical & Physical Skills  

• Advanced Excel modeling skills; able to build and maintain a full development and operating proforma independently 

• Able to read, question, and summarize deal documents 

Other Requirements 

• Periodic travel to Ohio project sites for site visits, agency meetings, closings, and community openings 

Skills 

• Strong written communication for investor, lender, and agency audiences 

• Organized and reliable across many parallel workstreams 

Work Environment & Physical Demands  

This role is based at Evergreen’s corporate office in Chicago on a hybrid schedule, with periodic travel to Ohio for site visits, agency meetings, closings, and community openings. Specific physical demands were not further detailed in the source job description. Evergreen Real Estate Group provides reasonable accommodations to enable qualified individuals with disabilities to perform the essential functions of this role.