Analyst, Development

Development Toronto, ON


First Capital [TSX: FCR.UN] owns, manages and develops grocery-anchored open-air centres in neighbourhood with the strongest demographics in Canada. As one of Canada’s top employers, we foster a vibrant culture that ensures equal opportunity and well-being for all employees in a dynamic workplace. We are proud to provide rewarding opportunities to build meaningful careers in a fun and high performing environment.


The Analyst, Development will be responsible for providing financial and other support on a wide range of development projects across the First Capital portfolio, including major or minor redevelopment of retail and mixed-use projects. The  Analyst will oversee the development, interpretation, and implementation of financial models to evaluate and propose recommendations on investment, development, and redevelopment projects, whether independently or through a JV partnership. This will include development proformas and cash flow models, investment analyses, and other financial analyses for decision-making purposes.


  • Create detailed financial models for single and multi-phase development projects including multi-family residential, retail, office, and hospitality property types.
  • Obtain inputs and assumptions for a development proforma through market research, review of third-party reports, and collaboration with various teams across the organization including Construction, Leasing, and Operations.
  • Conduct financial analysis, prepare scenarios and sensitivity analysis to inform decision making and evaluate investment options.
  • Coordinate with the required groups to ensure accuracy of the information being provided and evaluate options to improve the project return.
  • Assist in the creation of presentations and investment memorandums to facilitate the project approvals process.
  • Review financial planning and reporting of joint venture partners and complete internal management reporting on major projects using the standard template.
  • Perform variance analyses and reconciliations.
  • Coordinate with the required groups to complete the monthly cost-to-complete process for projects currently under development.
  • Prepare various project and portfolio reports to be used by internal and external stakeholders.
  • Work closely with the Asset Strategy, Investments, and Development teams on various group initiatives and special projects.
  • Participate in special projects and take on other duties, as assigned.


  • One (1) to three (3) years of relevant commercial real estate experience in development, investment, asset management, brokerage, lending, or valuations.
  • University degree with an emphasis on finance, real estate, or urban planning.
  • MBA, CFA, CPA, or AACI are considered an asset.


  • Strong financial modeling skills and a solid understanding of finance concepts and terminology.
  • Proficiency in Excel, Argus, PowerPoint, and Word.
  • General knowledge of related development fields including leasing, operations, design and construction.
  • Excellent communication and presentation skills.
  • Passionate team player with the ability to drive results by collaborating positively with internal and external project stakeholders.
  • Oriented to produce high-quality work product with ownership.
  • Ability to work independently in a dynamic environment, dealing with competing priorities and deadlines through organizational and time management skills.


We invest in People. Along with our competitive compensation packages—we’re always thinking of new ways for our people to share in the company’s success. We are very proud to offer the following to our employees:

  • Flexible Hours
  • Remote workdays
  • Company-matched savings plans
  • Annual Wellness Subsidy
  • Tuition & Development Program
  • Employee Referral Program
  • Rewards and Recognition Programs
  • Paid time off during December holiday season
  • Parental leave benefits

Our people are what makes us different. At First Capital we are committed to workplace diversity and inclusion within our organization, therefore, we encourage all qualified persons from all backgrounds to apply. Accommodations are available, upon request, to all applicants with disabilities throughout our hiring process. 
To discuss any accommodation, please email us at [email protected]