Project Accountant - Real Estate - Vaughan

Project Accountant Residential Real Estate Development
Location: Vaughan, ON
Employment Type: Full-Time | In-Office

We are working with a reputable and well-capitalized residential real estate developer based in Vaughan, ON, seeking an experienced Project Accountant to join their team. This is an exceptional opportunity for an accounting professional with a strong foundation in project accounting and prior experience working within the real estate development industry, specifically in low-rise and/or high-rise residential projects.

The successful candidate will play a critical role in supporting the financial health of active development projects by managing full-cycle project accounting responsibilities from pre-development through to occupancy and closing. The role will involve close collaboration with internal teams including Development, Construction, and Finance, as well as external partners such as lenders, consultants, and legal advisors.

Key Responsibilities:

• Manage full-cycle project accounting for multiple residential development projects, ensuring accurate tracking of all costs, revenues, and financial activities.

• Review and process project-related payables, invoices, journal entries, and HST remittances, ensuring proper coding and approval workflows.

• Prepare monthly draw packages for lender financing, including supporting documentation and cost certification.

• Collaborate with Development and Finance teams to prepare and review pro forma budgets, monitor cost-to-complete reports, and track budget variances.

• Generate and maintain detailed cost tracking schedules, ensuring accurate reporting on soft costs, hard costs, and land development expenditures.

• Analyze legal agreements (e.g., cost-sharing, JV structures, consulting arrangements) to assess financial implications and ensure compliance with contractual obligations.

• Prepare monthly and quarterly internal financial reports, trial balances, and project-specific financial statements.

• Coordinate with auditors to prepare year-end working papers and assist with audit deliverables for both corporate and project entities.

• Maintain up-to-date knowledge of financing arrangements, monitor construction loan balances, and ensure compliance with covenants and lender requirements.

• Support lot closings or unit sales by coordinating financial documentation, ensuring proper revenue recognition and trust accounting procedures.

• Recommend improvements to financial controls, processes, and reporting tools to enhance project financial management.

• Assist with cash flow forecasting and support funding recommendations based on project timelines and expenditure patterns.

• Participate in ad hoc reporting, analysis, and strategic finance initiatives as required by senior leadership.

Key Qualifications:

• Proven experience in project accounting within a residential real estate development or land development environment (required).

• Strong understanding of construction cost management, development financing, and project lifecycle accounting.

• Proficiency with accounting systems (e.g., Yardi, Newstar, Sage 300, or similar) and advanced Excel capabilities (pivot tables, lookups, complex formulas).

• Detail-oriented, organized, and capable of managing competing priorities in a deadline-driven environment.

• Excellent interpersonal and communication skills, with the ability to work effectively across departments and with external stakeholders.

• Proactive and analytical mindset with a commitment to process improvement and operational efficiency.

• High degree of integrity, professionalism, and discretion with sensitive financial information.

Education & Designations:

• Degree or diploma in Accounting, Finance, or a related discipline.

• CPA designation (CA, CPA, CGA, CMA) is strongly preferred.

• Minimum 35 years of progressive experience in accounting roles within the real estate development industry, ideally in residential housing projects.