Job Responsibility:

Vice President Development

Our client is a Leading Real Estate Developer in the GTA. We are conducting a search for a Vice President of Development to head up the Development function with one of Canada's most sort after Developers

Job Duties/Responsibilities

Team Leader:

- Run the Team with responsibility for the development and finance and administration of the business, managing a team of development, financial and administrative individuals
- Manage the team in the preparation and presentation of the team's project plans to the REIT's Real Estate and Executive Committees, partners and lenders
- Monitor and assist when appropriate, the leasing and releasing activities to minimize vacancy and maximize the value of each project
- Develop then implement a short and long-term Asset strategy for each project and for the entire portfolio
- Investigate and implement redevelopment opportunities to maximize the value of each project, utilizing expertise and relationships. Actively pursue and participate in the intensification and development of the projects through all potential additional and alternative uses for the properties, including residential condominiums, townhomes and apartment rentals, seniors' residences, office, self-storage, medical uses and digital signage. Pursue appropriate zoning for all such uses on all properties so that permissions are in place when needed.
- Develop and implement relationships with potential partners in all existing and new business initiatives. Negotiate agreements with such partners as required and once in place monitor partner and project performance.
- Research and remain aware of real estate and financial market conditions to assist with the development of appropriate strategies for the Team projects
- Liaise and coordinate with other REIT personnel ensuring explicit communications and collaborative working relationships are maintained with all other departments including leasing, construction, property management, finance and accounting
- Ensure that the Team monitors all properties and ensures that it and all departments are used effectively to identify and implement opportunities to improve individual shopping centres, ie.



individual property asset management idea
- Provide tactical input on projects to find solutions to problems as they arise, and give direction to Directors, Development Managers and Financial Analysts to set their course of action in executing approved project plans
- Ensure regular and timely cross-functional input and interaction in the execution of project plans, specifically amongst the areas of site acquisition, financial analysis, land use approvals, engineering, construction, corporate reporting and leasing
- Ensure all projects and proformas are prepared accurately and in the standard format and are reviewed and reconciled and updated monthly. Ensure variance reports are prepared detailing the changes to the project proformas
- Ensure all financial and development status reports reflecting costs incurred and committed costs provided by Accounting and Construction are reviewed and are reflected in the monthly proforma updates
- On at least a monthly basis, ensure that the Team is monitoring the performance of every project and reporting on certain key milestones, such as IRR, gain on sale, leasing status, costs, and project timeline. Ensure that all Team information, including leasing prospect information is updated in all REIT databases, at least monthly and whenever a significant change is anticipated. This includes providing development cashflow updates to the Accounting group for those team projects with an operating component for inclusion in the overall operating property cashflow
- Actively participate in the drafting, review and monitoring of adherence to legal documents, including documents related to joint venture relationships
- Oversee and participate as required with all aspects of any disposition transactions involving Team projects




- Ensure that the Team documents and approvals are authorized in accordance with Company policies
- Ensure that the Corporate Finance and Financial Asset Management teams are aware of all Team project financing requirements and work closely with that team to ensure financing is available when needed and that the project teams are aware of any specific requirements or tests that must be satisfied to secure draws. Prepare packages required for raising the necessary capital
- Be a champion of change through personal leadership
- Nurture the relationships within your Portfolio and ensure that each member of the team understands his or her position, where they fit into the management and redevelopment process, and assist in their growth and development
- Nurture the relationships with your peers within the organization to ensure unity and effectiveness in the leadership

Strategy and Innovation Leader

- Work with the President on overall strategy for the REIT. Using a combination of tools and working group sessions develop a summary of the vision and culture of the REIT.
- Based on the vision and culture develop a 5-year strategy for the REIT and put in a form suitable to review with the REIT's Board of Trustees.

- Develop and implement a process to encourage, capture and implement innovative ideas for the business - both customer facing initiatives and internal processes.

Academic/Professional Requirements

- MBA or bachelor's degree in Real Estate development or business and/or Chartered Financial Analyst (CFA) and/or Chartered Professional Accountant, or related Real Estate Development field

Required Skills/Experience

- 10-15 years of real estate experience
- Effective leader and manager of team of development and finance associates
- Effective planner for not only prioritizing work activities but also anticipating shifts in priorities
- Extensive practice in multiple components of the commercial real estate development and finance process
- Excellent oral and written communication skills with the ability to effectively communicate across all levels within, as well as outside the organization

📌 Vice President of Development (Toronto)
🏢 Chad Management Group
📍 Toronto