Vice President of Development Finance & Underwriting

The Philadelphia Housing Authority (PHA), one of the nation’s largest and most innovative Moving-to-Work public housing agencies, invites applications for the position of Vice President of Development Finance & Underwriting. Reporting to the Senior Vice President of Development & Construction, this leadership role provides strategic oversight of the financial, underwriting, and capital structuring functions supporting PHA’s public housing and affordable housing development portfolio.

Advance the Financial Strategy Behind Affordable Housing in Philadelphia

The Vice President of Development Finance & Underwriting plays a critical role in advancing PHA’s development pipeline by ensuring that projects are financially feasible, strategically capitalized, and compliant with regulatory and funding requirements. This position leads the underwriting of development opportunities, structures complex financing transactions, and collaborates closely with Finance, Asset Management, Property Management, and external lenders to optimize project feasibility and long-term financial performance.

Core Responsibilities

•          Lead the underwriting of public housing and affordable housing development and redevelopment projects, evaluating feasibility, risk, and financial viability.

•          Develop and structure project capital stacks, including debt, equity, grants, and other funding sources, in alignment with organizational objectives and program requirements.

•          Prepare, review, and maintain detailed proformas and financial models for new construction and rehabilitation projects.

•          Provide transaction support, including due diligence coordination, funding submissions, lender engagement, and closing documentation.

•          Develop and implement financial strategies for the development pipeline to optimize capital efficiency and long-term asset performance.

•          Collaborate closely with Finance, Asset Management, Property Management, and external lenders to ensure projects meet financial, operational, and regulatory goals.

•          Monitor financial performance of active projects and provide analysis and recommendations related to restructuring, refinancing, or operational improvements.

•          Provide leadership, guidance, and mentorship to development, finance and underwriting staff.

•          Ensure compliance with federal, state, and local financing requirements, including HUD, LIHTC, RAD, and other public and affordable housing programs.

•          Participate in executive-level decision-making related to project approvals, investment strategies, and capital allocation.

•          Maintain accurate financial documentation and reporting to support internal management, audits, and lender requirements.

Minimum Qualifications

Bachelor’s degree in Finance, Accounting, Real Estate, Economics, Business Administration, or a related field. Seven (7) or more years of progressive experience in real estate development finance, underwriting, or capital structuring, preferably within affordable or public housing. Demonstrated experience leading underwriting, financial modeling, proforma analysis, and transaction support for complex development projects. Experience collaborating with Finance, Asset Management, Property Management teams, and external lenders. Equivalent combinations of education and experience will be considered.

License and Certification Requirements

A valid Commonwealth of Pennsylvania Driver’s License is required.

Travel Required

Limited travel to PHA development sites as warranted.

Compensation & Benefits

PHA offers a generous slate of employee benefits that includes medical, dental, and life insurance; short- and long-term disability; flexible spending accounts; participation in the PHA Defined Contribution Retirement Plan and 457 plan; paid time off; and paid holidays. This is an on-site leadership position.

Compensation: The salary range for this position is between $130,000.00 to $175,000.00 commensurate with experience.

Application Instructions

Interested candidates should submit a cover letter and resume by February 28^th, 2026.

PHA is an equal opportunity employer. All employment decisions are made based on individual qualifications without regard to any protected characteristic under federal, state, or local law.

About PHA

Established in 1937, the Philadelphia Housing Authority (PHA) is a municipal agency providing public housing services to nearly 80,000 residents in the city of Philadelphia, Pennsylvania. PHA is embarking on a multi-year strategy to invest in or redevelop over 12,900 existing public housing units and to develop or acquire up to 7,000 new or existing affordable housing units. With a budget exceeding $650 million, PHA is the fourth-largest public housing authority in the United States and the largest landlord in Pennsylvania.