Manager, Development (Central)
Who we are
We are one of the country’s leading Canadian REITs and, importantly, we’re community minded and committed to helping build the future of sustainable real estate. We hire people who are passionate about real estate, growing their communities, and who are committed to our values. Being supported in your professional development, having your contributions and unique talents valued, feeling a sense of challenge and purpose, and being surrounded by a highly engaged team that loves what they do are just a few of the reasons to join our growing team.
Reporting to the Director, Development, the Manager, Development supports the region’s growth in GLA and key metrics, by driving development activities across the Central portfolio and providing analytic support on various Crombie transactions and projects. Additional duties of the Manager, Development (Central) role include but are not limited to:
- Collaborating with the Director, Development, to support the planning and execution of the Regional Development program in alignment with Crombie’s strategy of enhanced NAV creation, AFFO growth, and acceleration of development in core urban and high growth areas.
- Initiating and securing required municipal approvals to facilitate the development process including, but not limited to, entitlements, development permits, subdivisions etc.
- Reviewing legal documentation including easement agreements, restrictive covenants and development agreements for accuracy in conjunction with Legal.
- Fostering relationships with key external stakeholders including, municipal and provincial government officials and departments, as well as organizations and leaders in the business community
- Providing supervision and direction to consultant team to ensure the development integrity is met, and project delivery is on time and on budget
- Reviewing and approving consultant drawings and permit packages including architectural site and building design, civil, mechanical and electrical disciplines
- Working collaboratively with key stakeholder groups, including senior leadership to understand business objectives, and align with improvement/value creation strategy for the portfolio
- In collaboration with the Director, Development, determining the feasibility of development initiatives, through financial analysis including projected cash flows, development yield, IRR, ROE, etc., based on current market trends and estimated future market conditions, with the goal of making an informed investment recommendations to Senior Management.
- Working collaboratively with Joint Venture Partners to ensure Partner accountabilities are performed completely, on time and on budget.”
- Supporting long-term capital plans, annual budgeting and quarterly capital forecasting processes through regular project analysis, tracking, and planning.
- Tracking, arranging, and analyzing a variety of third-party and internal reports that impact Crombie projects and development areas such as demographics, market studies property tax analysis, development costs, market values, cap rates, competitive development projects and trends, etc.
- Supporting due diligence activity for potential development and investment projects, including the research and analysis of a variety of market factors that may influence the viability of a potential development project, ensuring that information is organized and accessible
- Providing ongoing support for development activity including liaising with Construction Department, contractors, engineers, designers, municipal government officials, architects, zoning inspectors, lawyers and other professionals as required
- Assessing competitive and market dynamics to evaluate potential changes to strategic and tactical plans.
- Developing and maintaining an informational database on a variety of development inputs (rents, sales pricing, construction costs, etc.) in major markets across Western Canada for use in the analytical process.
The successful candidate will have:
The ideal candidate will have five to seven years related industry experience in Real Estate development; ideally in retail and multi-family residential development, with experience leading a consultant team from concept through to completion. As well as an undergraduate degree in Commerce (Business), Engineering, Architecture or Planning will be considered; MBA is considered an asset.
All candidates must demonstrate a strong knowledge of financial concepts, cash flow modeling, corporate finance, NOI property calculations and market research, in addition to a strong interest in real estate, capital markets, market drivers, economic trends, knowledge of municipal and provincial planning and environmental legislation.
All applicants are asked to submit their resume and cover letter to;
Subject: Manager, Development (Central)