Vice President, Product Development - Toronto, Canada - QuadReal

QuadReal

Verified Company

Toronto, Canada

3 weeks ago

Posted by:

Sophia Lee

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Description

About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management total $73.8 billion.

From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets.

QuadReal invests directly, via programmatic partnerships and through operating companies in which it holds an ownership interest.

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves.

Now and for generations to come.

QuadReal:
Excellence lives here.

Overview

The VP, Product Development will fill a critical role within the development team as the 4th leg of a 4 legged stool consisting of Development, Construction, Sales and Marketing and Product Development.

Responsiblities

Working with the asset managers, operations teams and crossfunctional groups on an ongoing basis, the VP PD will work at a national level, using primary, internal and market research and relationships, to establish key product standards, tiers, brand/vendor direction, processes and priorities; providing the development team a working/live "manual" for development that is tailored to each project.
The level of involvement will vary between condo projects and buildtocore projects. The VP PD will work to establish areas of focus for partnered projects and use the size of the condo pipeline to leverage better vendor and brand (see note below) relationships for QR build to core projects. This person will also use its expertise to support the visioning and positioning of condo developments (where it makes most sense to do so) to provide guidance to partners with regarding to tier and product selection and critically assess partner assumptions on same. Brand and vendor relationships will be critical to the role but trade relationships remain a construction management responsibility. With the above in mind, leading product research and brand/spec development and ensuring efficient execution by bridging the gap between Sales & Marketing, Asset Managers, and Development & Construction.
The VP, PD will work with the Development team at key moments throughout the entire project life cycle with a focus on: Key supportestablishment of project vision & charter
A collectively developed researchbased vision for the project to go beyond identifying key target markets and customers; delving into the establishment of key design parameters, amenity and suite programmatic requirements, and highlevel projectspecific spec to help guide and direct the design team in its early efforts.
Support Development in vetting/selection of design partners/team with key target market in mind. Establishment of a Project Specification
With product vision understood, VP PD will work with Asset Managers, Development and Construction to establish a standardsbased projectspecific product specification. The spec will be based on a synthesizing of existing QR playbook requirements with market and projectspecific considerations and will be easily communicable to the design team and easily trackable
Development of a national procurement strategy may be considered but at a minimum establishment of key relationships with vendors, brands and design assist partners is critical. The goal being to drive efficiency, product knowledge, and standardization back into the design process across several projects. VP PD role in terms of Procurement Strategy will be to provide the supply relationships required for construction and project teams to accurately tender projects and resolve any supplychain issues. Direct purchasing and trade relationships remain with construction/project teams (see note above). Performance reviews at project milestones
Supporting the Development team the VP PD will review predetermined key issuances—100% SD, 50% DD, 100% DD (and others as determined). The key focus will be evaluating the consultant team's design product opposite the project vision statement and charter.
Ideally VP DP will have internal design resources (TBD). It will provide plan review and QC services to Development focus being on the quality of suite plans, amenity offerings, suitability to the desired target market and so on. These design resources may be accessed for discrete interim reviews of unit plans and amenity layouts to determine if the team is on course. In practice, this will be a joint effort between development, construction and PD. PD will focus on adherence to performance and brand specs, and any layout guidance given at project inception.

Execution Phase & Turn Over Role

The VP PD will provide key support to the Construction team; ensuring vendor relationships are leveraged, product spec is met and vetting of product and design alte