Ontario Real Estate And Development Industry Moves and Hires

In May, the Ontario real estate and development scene saw significant leadership changes at major firms. Gavin Swartzman was named President and CEO of Christie’s International Real Estate Canada, stepping into a key national role. At the same time, Randy Hoffman took over as CEO of Realstar, bringing fresh leadership to one of the country’s notable property managers.

On the national front, some important appointments took place in government and investment sectors. Marie‑Pascale Des Rosiers became the new Chief of Staff to Minister of Housing and Infrastructure Gregor Robertson. Meanwhile, Henry Yu earned a promotion to Portfolio Manager at CPP Investments. Other notable moves included Maxime Menard becoming Global President and CEO of Fiera Capital, and Michael Quast joining Passive House Canada as its CEO.

Within the development space, several high-level shifts happened. At The Daniels Corporation, long-time VP of Investments Duncan Smith stepped away after 14 years. SmartCentres REIT welcomed Adam Slan as Associate Leasing Representative, while Mohammad Zeidi was promoted to Director of Development. Jamie Steinmetz advanced to VP of Investments at Lankin Investments, and Julia Morassutti took on the role of Manager, Asset Management at Crestpoint. Kathy Axmith also made a move as she started as Senior Real Estate Manager for Ontario at McDonald’s Canada.

May was also a busy month in financial and mortgage circles. Max Dalsin began work as Director of Mortgage Investments at KingSett Capital. Dustin Luchka earned a promotion to VP of Marketing and Communications at EllisDon, and Nicholas Markov was elevated to Director at EllisDon Developments. These changes reflect the importance of marketing and financing expertise within the development field.

These personnel moves come amid a broader slowdown in Ontario’s housing development market. According to Canada Mortgage and Housing Corporation, housing starts in Ontario dropped to their lowest level since 2009, with new projects declining sharply in May. In the Greater Toronto Area, new home sales hit record lows in May, marking the eighth straight month of historic downturn amid rising costs and sluggish market demand.

Despite this chill in building and sales, firms and investors are preparing for a market rebound. Ontario’s top real estate and development organizations are reinforcing leadership and strategic positions. Whether these changes will help steer the province toward a more stable housing future remains to be seen, but the moves in May show the sector is adapting to current challenges.