Vice President, Development

3 weeks ago

Toronto, Canada CT Real Estate Full time

What you’ll do

This position is responsible for leading the Company’s real estate development and real estate operations function. The Vice President, Development & Real Estate Operations is a customer centric, results driven, people leader who will be responsible for overseeing all aspects of our real estate development projects as well as managing our portfolio of properties.

The successful candidate will oversee the execution of development projects, meeting timelines, budgets, and quality standards, contribute to the profitability of the enterprise by identifying real estate opportunities, managing project budgets effectively, and optimizing property management practices to minimize expenses. The VP will contribute to the growth of Canadian Tire by overseeing the real estate portfolio through acquisitions or divestitures, ensuring a diversified and profitable property portfolio.

Develop and execute the company's real estate development strategy for retail stores, including identifying new opportunities for all of CTC’s retail banners. (Canadian Tire, Party City, PartSource, Pro Hockey Life, Mark’s, Sport Chek, Atmosphere, Sport Experts). Conduct market research and analysis to identify potential store development projects and assess their feasibility. Lead the due diligence process for prospective projects, including financial analysis, risk assessment, entitlements, and permits. Collaborate with cross-functional teams to prepare project proposals, including site selection, design, financing plans, and construction schedules. Manage relationships with external stakeholders such as architects, engineers, contractors, and regulatory authorities to ensure successful project execution. Oversee the forecasting of the annual capital plan for all retail store projects. Develop and implement a comprehensive property management strategy for the company's portfolio of properties. Monitor rental rates and market trends to optimize property occupancy rates and rental income. Ensure compliance with all applicable laws, regulations, and industry standards related to property management. Oversee the Environmental Services team to minimize the corporations’ risk when dealing with environmental issues associated with the operation of Canadian Tire stores. Work closely and manage the relationship with CT REIT on a variety of strategic initiatives related to the real estate portfolio. Manage the entitlement and disposition processes of high value Trophy Properties.

What you bring

Minimum of 10 years of progressive experience in real estate development and real estate operations. Retail industry experience is an asset. Bachelor's degree in Real Estate, Business Administration, or a related field. Proven track record of successfully managing large-scale development projects from inception to completion. Strong financial acumen and experience with project budgeting and financial analysis. Excellent negotiation skills with the ability to manage complex agreements and contracts. Exceptional communication and interpersonal skills, with the ability to build relationships with internal and external stakeholders. Strong leadership abilities, with a track record of managing high-performing teams. A solid background in real estate development and real estate operations, with a track record of successfully managing large-scale projects from inception to completion. The ability to think strategically and identify new opportunities for real estate development or property acquisitions. This includes conducting market research, analyzing trends, and assessing the feasibility of potential projects. Strong financial skills are essential for this role, including budgeting, financial analysis, and the ability to assess project profitability and return on investment. Strong leadership skills to effectively manage teams involved in real estate development and property management. Exceptional communication skills to effectively interact with internal stakeholders, external partners, and regulatory authorities. Building relationships and negotiating complex agreements are crucial aspects of the role Strong attention to detail and problem-solving abilities to navigate complex contracts, permits, and potential challenges. Ability to adapt to changing market conditions, able to handle setbacks or obstacles with resilience, and find creative solutions to overcome challenges.

Hybrid

We value flexibility. We have adopted a hybrid work model whereby employees use a combination of working in office and virtually in service of outcomes. Each leader is empowered to decide what work is best achieved in person based on the unique needs of their team.

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