Chief Asset & Capital Management Officer (CACMO)
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.
The New York City Housing Authority is seeking a Chief Asset & Capital Management Officer (CACMO). This is a new position at NYCHA that would combine the oversight of the existing Real Estate Development Department (REDD) and the Capital Projects Department (CPD). NYCHA’s goal for this new Office is to better integrate and align the existing work of the agency’s two construction-related teams.
The CACMO would oversee one of the largest capital programs in the state as well as a historic real estate transaction portfolio. NYCHA’s Five Year Capital Plan (2020-2024), overseen by CPD, 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. REDD is primarily responsible for executing 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.
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.
Primary Responsibilities of the CACMO:
- 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.
Minimum Qualification Requirements
- 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.
Interested candidates may submit cover letter and resume to www.nyc.gov/careers/search. Search for JOB ID# 463436.
We thank all applicants for their interest in the New York City Housing Authority (NYCHA) but only those selected for an interview will be contacted.
The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual’s sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.