President at Davenport Associates LTD – Providence, Rhode Island

Section 8 Housing & Assisted Living Portfolio

POSITION SUMMARY

We are seeking an experienced President for a strategic transition role to lead our family-owned real estate management company. This is an ideal opportunity for an executive who wants to apply their expertise to a meaningful, high-impact assignment with flexible engagement terms (2–3-year initial commitment with potential to extend).

Our portfolio includes 600 Section 8 housing units across 5 buildings, and a 60-unit assisted living facility.

KEY RESPONSIBILITIES IMMEDIATE PRIORITIES (YEAR 1)

• Lead completion of ongoing syndication - coordinate with external partners, investors, and legal counsel and ensure ongoing compliance with HUD and RIH requirements.
• Oversee Management Company financial stability
• Assess and stabilize operations including compliance, across all properties

EXECUTIVE LEADERSHIP

• Carry out the Board of Directors’ strategic vision
• Drive organizational performance
• Maintain strategic relationships with housing authorities and regulatory bodies
• Set operational standards and performance metrics across all properties
• Ensure compliance with HUD regulations, fair housing laws, and assisted living requirements
• Track and ensure compliance with deployment of HOTMA sections 102 and 104
• Oversee Director of Operations in managing 608-unit portfolio
• Oversee Controller in handling Management Company budget and finances

REAL ESTATE FINANCE & SYNDICATION

• Coordinate with external partners on refinancing negotiations with lenders
• Support syndication of new limited partnerships for building refinances
• Manage complex partnership structures and investor relations
• Position properties to maximize refinancing proceeds and investor returns

LEADERSHIP TRANSITION & MENTORSHIP

• Evaluate and develop potential internal successor(s) in management company finances and re-syndication
• Transfer knowledge of refinancing cycles and partnership structures
• Ensure smooth transition of responsibilities over 2–3-year timeframe

REQUIRED QUALIFICATIONS

Experience: 10+ years in property management with affordable housing experience; multi-site management of 500+ units; understanding of Section 8 regulations and assisted living operations

Real Estate Finance: Commercial real estate refinancing experience; understanding of limited partnership structures; knowledge of affordable housing financing (HUD loans, LIHTC); financial modeling and investor metrics

Leadership: Proven ability to balance compliance with operational efficiency; experience with complex stakeholder relationships; strong communication with investors, regulators, and community partners

Preferred: Track record of successful leadership transitions and mentoring successors; flexible regarding engagement timeline (2–3-year initial term with option to extend)

COMPENSATION PACKAGE

Base Salary: $180,000 - $240,000 (commensurate with experience)

Performance Bonuses: Refinancing success bonuses (2-5% of proceeds above target); annual performance bonus based on NOI, occupancy, and compliance; transition completion bonus upon successful handoff

Benefits: Davenport Associates, Ltd. offers a rich benefits package that includes, but is not limited to, medical, dental, vision, 401(K), Employee Assistance Programs, paid time off, paid holidays, paid training and tuition reimbursement

Engagement: Initial 2–3-year commitment with flexible retirement timeline; potential consulting arrangement post-transition

WHY THIS ROLE

This transition leadership role offers immediate impact leading a critical syndication, the opportunity to build a legacy by shaping next-generation leadership, and flexibility with a defined initial term and option to extend. You'll partner with a committed family business invested in community impact while working on meaningful affordable housing operations serving vulnerable populations.

Ideal for: An experienced executive who wants to apply their expertise to a focused, high-impact engagement with clear objectives and flexible timeline.