Senior Public Investment Underwriter

Unit: Exempt

Department: Administration

Grade: 16

Salary Range: 116,412.24 - $151,118.78

Posting Date: Tuesday, October 28, 2025

Application Deadline: Tuesday, November 11, 2025

Application Procedure: Please submit a cover letter and resume detailing your qualification.  No phone calls or letters. Submit your resume, cover letter, and any additional materials to jobs@bostonhousing.org. Deadline: Tuesday, November 11, 2025.  Please be sure to identify the position you are applying for.
 
 

General Description: The BHA is furthering our mission to build and support healthy, sustainable communities by embarking on a new effort to spur housing production through publicly backed social investment. In order to support this work, the BHA is bringing on technical assistance as well as new staff to help administer the $110M Housing Accelerator Fund, a project in collaboration with the City of Boston, and develop lending practices and policies for public investment in housing development. The Senior Public Investment Underwriter will be the first staff person assigned full-time to this work at BHA and will play a leading role in decision making, investment strategies, and overall program development.
 
Reporting to the Administrator or their designee the Senior Public Investment Underwriter will focus on the origination, processing, and closing of mixed income and affordable multifamily real estate transactions involving public investment. This role will receive investment proposals from public, non-profit, and for-profit organizations, including BHA’s Planning, Construction, and Development Division, and assist in the structuring of multifamily financing. Activities are preparatory to financial commitments and the issuance of funds from the Accelerator Fund or other forms of financing. Depending on the type of investment, underwriting is expected to occur in collaboration with lenders such as MassHousing and private commercial banks.
 
The Senior Public Investment Underwriter will be responsible for the review and underwriting of multifamily real estate transactions presented for financing to:

• Increase the availability of rental and homeownership opportunities for individuals and families at a range of income levels by using a variety of financing and subsidy sources; and,
• Generate revenue for BHA and the Accelerator Fund, which features three components including:
  • Mixed income rental housing projects (privately owned)
  • Mixed income rental housing projects (publicly owned)
  • Mixed income homeownership projects (privately owned)

Duties & Responsibilities:

• Review information submitted by potential borrowers, including proposals from public agencies, non-profits, for-profits, and internal BHA divisions.
• Input financial data into the underwriting model and build financial projections using tools such as Excel, Google Sheets, and specialized models (e.g., LIHTC or mixed-finance underwriting models).
• Conduct financial analysis and proposing alternative financing scenarios where necessary and provide feedback on important documents including term sheets and conceptual loan proposals
• Prepare key documents including term sheets, conceptual loan proposals, financing plans, and summaries for BHA leadership team
• Serve as a liaison to both external and internal partners; including MassHousing, the City of Boston, private lenders, and BHA divisions to understand deal objectives, constraints and priorities.
• Initiate calls and conduct high-level feasibility screening by reviewing preliminary underwriting loan information including sources & uses, income and expense statements, operating budgets, cash flows, mortgage credit, design & technical, market data, third-party reports (e.g., appraisals, environmental, engineering, cost estimates), and other documents.
• Review and assess pro formas, gap financing needs, operating projections, and deal-level cash flows using Excel-based or proprietary financial modeling tools.
• Coordinate due diligence activities, including collection and analysis of borrower financials, legal documentation, development team qualifications, and title/survey materials.
• Communicate with potential borrowers and request information as needed
• Execute a wide variety of special assignments, including but not limited to research on industry and BHA business metrics, the creation of analytical tools, assisting in the creation and management of mission driven debt and grant programs and any other assignments that may emerge as party of BHA business
• Oversee underwriting timelines, loan structuring, and present investment recommendations to loan committees or other approval bodies.
• Oversee loan closing management and execution investment agreements, loan documents, guarantees, and related instruments in coordination with legal counsel.
• Administer the origination and underwriting model to ensure accurate analysis and loan structuring by developing and maintaining templates, dashboards, and underwriting tools to ensure consistency, transparency, and scalability.
• Track performance metrics for the investment portfolio, including pipeline activity, risk exposure, and financial returns.
• Conduct research on housing finance innovations, public subsidy programs, and investment best practices; stay current on tools like Procore, CoStar, and industry databases.
• Performs other related duties as required

Minimum Qualifications & Experience: A minimum of five years of substantive experience in real estate, finance, development, or investment is required. Experience must include working with transactions that include affordable, market rate housing, and mixed-used development. Superior financial and analytical skills necessary. Highly organized, have great attention to detail and possess strong verbal and written communication skills. Familiar with processing and closing multifamily financing transactions. Demonstrate an ability to manage multiple projects and tasks and adapt well to changing priorities. Demonstrate experience with equity investment in real estate projects as well as financial underwriting and modeling.
 
BHA BENEFITS:
BHA’s generous benefits package includes 14 paid holidays, 4 personal days, 3 weeks of vacation, 3 weeks of paid sick leave, MBTA discount, participation in the City’s pension plan, and healthcare through the Commonwealth, and much more.
 
ABOUT US:
Boston Housing Authority (BHA) fosters sustainable communities by providing quality affordable housing, bringing stability, opportunity, and peace of mind to thousands of low and moderate-income families across Greater Boston and the City of Boston as a whole. As the largest provider of affordable housing in Boston, one of the most expensive cities in the country, BHA understands housing as a crucial platform for individual, household, and community stability. Through our public housing communities and rental assistance programs, BHA provides housing assistance and services to more than 62,000 low and moderate-income households, including families with children, older adults, and individuals with disabilities. As a housing authority, we recognize the historical role that residential segregation has played in the City of Boston. In all aspects of our operations, internally and externally, BHA is committed to breaking down the barriers to justice in housing and related fields that disproportionately impact the communities we serve.

EQUAL OPPORTUNITY:
BHA is a proud to be an Equal Opportunity Employer, and qualified applicants receive consideration for employment without regard to race, national origin, age, sex, religion, physical or mental disability, genetic information, sexual orientation, gender identity, gender expression, marital status, and military and veteran status, or any other basis protected by local, state or federal law. To the greatest extent possible, it is the policy of BHA to give preference in employment to BHA public housing and leased housing residents, and to low-income persons.