Vice President, Development

**POSITION**: Vice President, Development

**DEPARTMENT**: Acquisitions and Development

**REPORTS TO**: Chief Operating Officer (COO)

**LOCATION**: 100 Sheppard Ave, E., North York

A dynamic executive with demonstrated experience and expertise to be the primary development lead for our aggressive growth ambitions. The primary focus of this position is to evaluate and assess potential real estate development or re-development opportunities and potential acquisitions, divestitures and, maximizing profitability for the company and its investors. Terracap has a portfolio of seven high-density, transit-oriented, residential, and mixed-use development sites in the Greater Toronto Area which the VP Development would be primarily responsible for taking through the approval and development process. The VP Development will research, evaluate, and analyze options and information that will lead to optimal decision-making for real estate acquisitions and development. While reporting directly to the COO, there will be occasions where direction will be provided as well by the CEO. You will also be an integral part of the senior management team (“SMT”) and will be called on from time to time to take part in special projects which will include, but not limited to the strategic involvement and implementation of the company’s participation in real estate ventures. Finally, the VP Development will build and lead the Acquisitions and Development Department ensuring the successful growth of Terracap.

**Responsibilities include but are not limited to**:

- Reviews and interprets various technical documents-planning, engineering, legal, financial, etc.to identify concerns and opportunities generally, while specifically managing the consultant team in the preparation, submission, and revision of required reports, agreements, etc.
- Manages consultants in preparing site and building drawings, as well as accurate statistics to enable iterative analysis that leads to constructive design and programmatic recommendations.
- Remain current on lease rates, values, cap rates and pricing of relevant markets.
- Maintain client relationships and manage conflict resolution. Act as liaison with consultants, municipal staff, politicians, neighbours, and other external stakeholders in obtaining planning approvals that meet or exceed budget and schedule expectations, while also maintaining reputation and trust in the community.
- Assume the overall responsibilities for the execution of pre-development and development activities related to several prominent hi-rise projects in the GTA and elsewhere across Canada and in the United States primarily Florida and Texas.
- Oversee capital improvement / asset preservation programs and processes at multiple sites utilizing local resources.
- Identify and address areas of concern regarding potential liabilities and risk.
- Contribute to the research, qualification, and identification of new prospects, working cooperatively with other development team personnel in the process of prospects.

**Planning and Development**
- Interacting with City Counsel, Administration and the General Public as required in response to inquiries, concerns, and requests for information.
- Problem solving and proactively analyzing findings and identifying opportunities and possible risks.
- Using analysis, industry knowledge, experience, and judgement to make sound decisions under tight timelines.
- Keep current with political, regulatory, and market trends, keeping SMT informed of potential changes within the development industry.
- Review, interpret, and incorporate qualitative and quantitative market research and prospect analysis to understand potential customers, their aspirations, and competing offerings in the market to inform product offering, pricing, and demand assumptions.
- Reviews, tracks and reports on overall project budgets and schedules-including cash flow forecasts, variance analysis, partner reporting packages, etc.and manages deliverables required for loan draws and other elements of construction financing.
- Manages the preparation of succinct and accurate reports, agendas, and minutes for internal, consultant, and/or partner meetings to track project progress as well as on-going responsibilities and deadlines.

**Financial / Budgets**
- Collaborating with SMT as they develop the scope of resources, milestones, schedule, and budget of a project.
- Developing and implementing an annual plan for departmental operations by working with all stakeholders and providing strategic information and guidance to assist in developing goals, plans and procedures.
- Develop annual revenue and expense budget, reviewing financial results and projections on a regular basis to mitigate challenges, optimize opportunities and manage expenses.

**Qualifications**
- Bachelor's degree required (urban planning, architecture, civil engineering or related specialty); Master’s degree preferred. Evidence of a strong background