Investment Associate – Affordable Housing (LIHTC)

Investment Associate/Analyst – Affordable Housing (LIHTC)

oWOW | American Housing Company (AHC)

About

Build one of California’s fastest-scaling affordable housing platforms.

oWOW is a next-generation real estate developer building high-density mass-timber housing at roughly half the cost and time of traditional construction while significantly reducing carbon emissions.

Through American Housing Company (AHC), our affordable housing platform, we are scaling toward 2,000+ units annually across California using Low-Income Housing Tax Credits (LIHTC).

We are seeking an Investment Associate to help originate, underwrite, and execute affordable housing developments across the state.

This role offers exposure to the full development and financing lifecycle, with direct engagement with senior leadership to structure and close LIHTC transactions.

What You'll Work On

Financial Modeling & Investment Analysis

• Build and maintain LIHTC development models and capital stack analyses
• Underwrite site acquisitions and development opportunities
• Prepare investment committee memos and deal summaries

LIHTC Application Process

• Support preparation of 4% LIHTC applications
• Coordinate submissions to CDLAC, CTCAC, and other allocating agencies
• Manage documentation with consultants, legal teams, and architects

Capital Markets & Financing

• Assist in evaluating tax credit equity proposals
• Support negotiations with LIHTC syndicators and lenders
• Prepare materials for investors and financing partners

Development Execution

• Support projects from site control through financial closing
• Coordinate due diligence across development, construction, and finance teams
• Track project progress across multiple active developments

Platform Growth

• Help build standardized underwriting tools and investment frameworks
• Maintain project dashboards and development pipeline tracking
• Supportthe creation of investor materials and data rooms

Ideal Background

• 3–7 years of experience in:
• affordable housing development
• LIHTC underwriting or investment
• real estate private equity
• housing finance agencies
• LIHTC syndicators
• Familiarity with LIHTC capital stacks
• Strong financial modeling and Excel skills
• Ability to manage multiple deals simultaneously

Education

MBA preferred or a Bachelor’s degree in Finance, Real Estate, Economics, or similar field

Compensation

Competitive Bay Area compensation package including:

Base Salary: $120,000 – $140,000; Not Including Bonus and promote project-level participation

Why this Role is Unique

This is not a narrow analyst role.

You will gain direct exposure to:

• LIHTC capital markets
• affordable housing development execution
• institutional real estate structuring
• large-scale housing platform growth

You’ll help scale a platform targeting 2,000+ units annually while addressing California’s housing shortage.

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