Vice President- Construction Management at ACRUVA CAPITAL PARTNERS II LLC – Deerfield Beach, Florida

About ACRUVA Capital Partners

Founded in 2020, ACRUVA Capital Partners (ACP) is a boutique, real estate investment and

development firm based in Deerfield Beach, Florida, with additional operations in San Juan, Puerto

Rico. ACP operates through a joint venture structure, partnering with ADC Communities (a Walker &

Dunlop subsidiary) to finance, develop, and preserve affordable multifamily housing across the U.S.

and Puerto Rico.

Mission & Vision:

ACP aims to expand access to safe, stable, and healthy housing for extremely low- to moderate income families, elderly individuals, and those with special needs . Their vision is to build resilient, sustainable, equitable rental communities by using innovative

technologies to reduce costs and accelerate delivery timelines.

Position Title

Vice President – Construction Management

Position Summary

The Vice President of Construction Management will report directly to the President and Chief

Development Officer and together with the VP of Development and VP of Finance will manage all

construction-phase activities for the Company’s affordable housing development portfolio

(primarily LIHTC-funded new construction and preservation projects). This role provides strategic

and operational leadership of the construction management function, ensures adherence to

regulatory and funding program requirements (HUD, LIHTC, Section 3, Davis-Bacon, etc.), drives

schedule and cost performance, coordinates with development, finance, asset management, third party consultants and general contractors, and supports process improvements, PCOs, CO, RFIs,

risk mitigation and quality assurance across the portfolio.

This position requires deep knowledge of affordable housing development and construction

management in multifamily residential projects, government regulatory compliance (especially

HUD, Davis-Bacon, Section 3), proficiency in construction contracts, change-order management,

drawdown processes, general contractor oversight, construction safety, and collaboration across

internal and external stakeholders.

Strategic & Leadership Responsibilities

• Provide senior leadership, vision and direction for the construction management

organization within ACP — establishing policies, procedures, best practices, standard

operating protocols and documentation frameworks to ensure consistent, high-quality

project delivery across multiple simultaneous developments.

• Partner with senior leadership (Development, Finance, Accounting) to integrate construction

management strategy into overall development planning (pre-development, procurement,

financing, entitlements, design, construction, lease-up, conversion).

• Serve as a key member of the project executive leadership team and represent ACP in

construction-related discussions with joint-venture partners, lenders, equity syndicators,

public agency stakeholders, general contractors, design professionals and local

jurisdictions.

Project & Construction Oversight

• Oversee all construction-phase activities for each assigned development (new construction

and preservation) funded with LIHTC and other affordable housing sources, from

groundbreaking through final completion, stabilization and hand-off to property and asset

management.

• Establish and monitor construction schedules, baseline budgets, milestone tracking, critical

path management, identifying and proactively addressing delays or cost overruns.

• Manage the general contractor selection process with support from the development team:

RFP/RFQ issuance, prequalification, bidding, contract negotiation, contract execution,

construction schedule and cost negotiations, value-engineering reviews, and trade

contractor oversight.

• Oversee construction contract administration: review and execute contract documents,

change orders, contingency management, and maintain an accurate and auditable trail of

documentation (contracts, subcontracts, draws, lien waivers, certificates of occupancy,

punch lists, warranties).

• Monitor and approve monthly construction pay applications, draw-downs, pay-when-paid or

pay-if-paid requirements, general contractor requests, and ensure alignment with the

project financing requirements and regulatory draws while working directly with

Development and Accounting departments.

• Perform regular site visits, inspections, and meetings (pre-construction, bi-monthly field

meetings, trade coordination, quality control/assurance walkthroughs, safety audits) to

ensure compliance with design intent, cost targets, schedule commitments, construction

quality, safety standards, and code/regulatory requirements.

• Ensure that all construction work meets applicable building codes, accessibility standards

(e.g., Section 504/ADA), green building requirements (if applicable), and meets ACP’s

standards for sustainability, durability and long-term affordability.

Regulatory Compliance & Funding Requirements

• Maintain thorough knowledge of, and ensure compliance with, affordable housing

construction funding/regulatory requirements including, but not limited to:

o Low Income Housing Tax Credit (LIHTC) program (9% and 4%), and associated

layered financing structures.

o U.S. Department of Housing and Urban Development (HUD) programs and

regulations, as applicable (including project-based vouchers, HOME, CDBG, RAD

conversions, etc.).

o Davis-Bacon Act — ensure prevailing wage requirements are met on construction

contracts where required.

o Section 3 of the Housing and Urban Development Act of 1968 — ensure compliance

with Section 3 hiring/training requirements, reporting and outreach.

o Local and state affordable housing program requirements (state housing finance

agencies, bonds, tax credit allocations, local subsidies) and their construction

compliance obligations.

o Environmental review, historic preservation, zoning/permitting, labor standards,

safety regulations (OSHA), lien/warranty, insurance requirements, change-order

audit trails and closing documentation.

• Develop, implement and monitor internal control systems for construction compliance —

including documentation checklists, audit readiness, draw certification, contractor

reporting, regulatory certification (prevailing wage, Section 3), and coordinate with third-

party compliance/monitoring firms.

• Coordinate with finance/accounting teams to support regulatory draw requests, audit

responses, investor/lender reporting, and construction close-out to permanent

financing/lease-up phase.

• Ensure proper documentation of contractor/compliance training (especially for Section 3),

contractor pay records for Davis-Bacon, subcontractor reporting, and support compliance

reviews.

• Stay current on relevant regulatory updates and industry best practices (federal/state/local

affordable housing construction compliance) and provide training/education internally to

team and contractors.

Financial Oversight & Risk Management

• In collaboration with the Development, Accounting and Finance departments, monitor

construction budgets, contingencies and reserves — ensure cost management and value

engineering practices are integrated from the pre-construction phase through close-out.

• Provide regular construction cost and schedule reports to senior management and

JVs/partners/investors: budget vs actual, cost to complete, risk analysis, projected

completion dates, earned value metrics, potential change-order exposure, contractor

performance metrics.

• Identify cost overruns, schedule slippages and potential exposures ahead of time; develop

mitigation strategies, contingency draw plans, recovery schedules, and escalate

appropriately.

• Collaborate with development, accounting, and finance teams to align construction

financing (construction draws, lender requirements, equity investor requirements, debt

service coverage, lease-up projections) and ensure successful timely conversion to

stabilized operations.

• Establish key performance indicators (KPIs) for construction performance (schedule

adherence, budget variance, change-order percentage, safety incident rate, quality defects,

contractor claim history) and track performance across the portfolio.

Stakeholder & Partner Management

• Act as primary construction-management liaison between internal teams (development,

finance, accounting) and external stakeholders (general contractors, architects, engineers,

municipal authorities, lenders, tax credit syndicators, joint-venture partners, public agency

funders).

• Lead construction coordination meetings, status updates, design and construction

workshops, risk review sessions, and present to senior management, board of directors or

partner committees as required.

• Maintain strong relationships with construction industry professionals, affordable housing

contractors, local municipalities, housing finance agencies, and community stakeholders to

facilitate approvals, community outreach, and successful project delivery.

• Represent ACP at public hearings, municipality meetings, contractor bid solicitations, and

industry forums as needed.

Quality, Sustainability & Community Impact

• Ensure that ACP’s projects meet the company’s strategic goals of resilient, sustainable,

equitable housing — including energy efficiency, durability, life-cycle cost considerations,

and social impact (e.g., accessible units, community amenities, special needs populations).

• Oversee post-construction close-out processes: punch-list completion, turnover to property

management/asset team, warranty tracking, final lien waivers, occupancy permits, lease-up

hand-off, and long-term operations transition.

• Monitor and evaluate contractor performance post-occupancy: defects, warranty claims,

maintenance issues, and feed insights back into future procurement and construction best

practices

Work Environment

• Location: Headquartered in Deerfield Beach, Florida (800 Fairway Dr., Suite 250) with travel

to project sites nationally as needed.

• Work environment: Mixture of field site presence (construction sites, inspections, weekly

meetings) and office/virtual meeting environment. Significant travel may be required to

active projects, public hearings, partner meetings, and field oversight.

Performance Metrics & Success Indicators

• Timely achievement of construction milestones (groundbreaking, building permit, vertical

construction, certificate of occupancy) for each project.

• Construction budget variance (actual vs-budget) within acceptable thresholds (e.g., < 5 %

variance on direct construction cost, overall project budget targets met).

• Schedule adherence (percentage of projects completed within baseline schedule or timely

recovery plan implemented).

• Change-order percentage kept within target thresholds (e.g., as agreed across portfolio).

• No major compliance exceptions or audit findings related to HUD, LIHTC, Davis-Bacon,

Section 3 or other funding requirements.

• Contractor performance ratings (safety incidents, quality defect rate, warranty claims,

punch list close-out time) meet or exceed portfolio benchmarks.

• Effective hand-off to asset management/operations with minimal delay or cost overrun in

lease-up and stabilized operations.

• Implementation of process improvements and standardization of constructionmanagement protocols, leading to measurable efficiency/quality gains across the portfolio.

Compensation & Benefits

• To be determined based on candidate experience and market. Should include base salary,

annual bonus tied to portfolio performance metrics, incentive bonus participation, and

standard benefits package, opportunity to work in mission-driven affordable housing

development

Key Qualifications & Experience

• Bachelor’s degree in Construction Management, Civil Engineering, Architecture, Real Estate

Development, or related field; Master’s degree or MBA is a plus.

• Minimum of 5-7 years of progressive construction management experience in multifamily

residential development (preferably affordable housing), with at least 3 years at a senior

leadership/VP level or equivalent.

• Demonstrated experience managing multiple simultaneous new-construction and/or

substantial preservation affordable housing developments funded with LIHTC – including

experience with 9% and/or 4% credits, layered financing, equity syndication, permanent

financing.

• Strong working knowledge of HUD programs/regulations, LIHTC program compliance, and

state/local housing finance agency construction and funding requirements.

• Deep understanding and proven implementation experience in Davis-Bacon prevailing wage

requirements, Section 3 hiring/training/measuring, and other labor/contractor compliance

matters in affordable housing construction.

• Demonstrable track record of delivering projects on schedule, on budget, while maintaining

high quality and compliance standards.

• Strong skills in construction contract administration, budgeting, scheduling, change order

management, cost control, risk mitigation, and project management software/tools (e.g.,

Procore, Northspyre, SmartSheet).

• Excellent leadership, communication, stakeholder management and interpersonal skills –

ability to engage internal teams, external partners, contractors, municipal agencies,

lenders/investors, community stakeholders.

• Strong analytical and reporting skills – ability to provide meaningful metrics, interpret

cost/schedule data, prepare executive-level dashboards, and present to senior leadership

and investors.

• Knowledge of sustainable building practices, durability, energy efficiency and affordable

housing amenities preferred.

• Experience working in multi-jurisdictional environments (Florida and other U.S. markets) is a

plus.

• Commitment to mission-driven work in affordable housing, equity, and community

development consistent with ACP’s values of compassion, respect, integrity and equality.

(acruvacp.com)