Assistant Development Manager
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 Assistant Development Manager supports the region’s growth in GLA and key metrics, by driving development activities across the Western Canada portfolio and providing analytic support on various Crombie transactions and projects across Canada. A desire to learn and the ability to react quickly to an ever-changing list of priorities are critical to success in this role. Additional duties and responsibilities of the Assistant Development Manager include but are not limited to:
- Builds proformas, reports, and models to support the decision making on current and future development projects, and the national development strategy.
- Works collaboratively with all key internal and external stakeholder groups, including management, to understand business objectives, and align with the national development strategy.
- Supports the quarterly and annual budgeting process and maintenance of project cash flow projections and other departmental reports as required.
- Regularly reviews job cost relative to proforma budget to ensure costs are being monitored and are on track.
- Reviews and comments on Joint Venture monthly statements and verifies costs in accordance with internal proforma.
- Supports and assists the Director, Development on due diligence activities for potential development projects including the research and analysis of a variety of market factors that may influence the viability of a potential development project.
- Completes Land Use Bylaw and site-specific reviews for all potential LUIs, which involves communication with municipalities and internal stakeholders.
- Assists in the strategic positioning of assets with a focus on revenue growth through collaboration on the planning and coordination of LUI opportunities.
- Develops and maintains an informational database on a variety of development inputs (rents, sales pricing, construction costs, etc.) in major markets across Canada for use in the analytical process.
- Arranges a variety of third-party reports such as market studies, property tax analyses, etc.
- Analyzes potential development investment options and supports due diligence efforts by reviewing documentation for base information and flow of financials, ensuring the information is organized and accessible.
- Analyzes the revenues, costs, operating requirements, financial returns, and other key inputs for development projects.
- Takes ownership of monthly presentations with support from the Director, to ensure timely and relevant information is readily available for reporting to Senior Management.
- Other duties as assigned.
The successful candidate will have:
The ideal candidate would have three to five years related industry experience in Real Estate development; ideally in retail and multi-family residential development, as well as an undergraduate degree in Commerce (Business), Engineering, Architecture or Planning; MBA is considered an asset.
The Assistant Development Manager will possess strong analytical skills, combined with a desire to demonstrate their flexibility in solving complex problems to dynamic real estate opportunities. All successful applicants must have 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: Assistant Development Manager