The wave of new leadership across the commercial real estate industry is continuing, with Toronto-based Windmill Development Group announcing Wednesday founder and CEO Jonathan Westeinde is transitioning to executive chair. Long-time senior executive Jeremy Reeds will assume the CEO position.

Reeds is moving up from his current role as president.

In another senior leadership move, Adam Molson, the former vice-president, rental communities and sustainability at The Daniels Corporation, is moving to Windmill as partner, development.

Both Windmill and Daniels are internationally recognized as leaders in sustainable and responsible development. While the company did not make mention of it in the announcement, the transition was made public on Earth Day.

"There is no sustainability without affordability. More than ever, I'm focused on building strategic long-term partnerships so we can develop communities that positively impact cities and the people who live in them," Westeinde said in the announcement. "Jeremy's deep financial expertise, proven operational excellence, and steady judgment have played a pivotal role in our success to date.

"I'm thrilled he will now guide Windmill into its next phase of strategic growth and innovation."

Windmill and Westeinde

A company focused on modern methods of construction, as well as affordable housing and private sector development, Windmill has a $5-billion portfolio. It also has a pipeline of over 2,200 housing units across Ontario that will be shovel ready by the end of 2026.

Westeinde will focus on leading the strategic direction for the company, which also has its roots and an office in Ottawa, in collaboration with Reeds and the leadership team. 

Before founding Windmill, he helped found Venbridge, a venture capital services division of Gowlings, one of Canada’s largest law firms. Prior to that, he was CEO and founder of LOSC Inc., a Boston-based venture capital firm. He also held senior positions with Corel Corporation and Exocom Consulting after completing his MBA at Trinity College in Dublin.

His most recent focus has been originating and co-managing The One Planet Living Real Estate Fund, an impact-based investment vehicle driving a $1-billion pipeline of One Planet Living communities in Canada.

In 2021, Westeinde was recognized as one of Canada’s Clean 16 for his contribution to clean capitalism. In 2018, he received the National Green Building Leader award from the CaGBC.

Reeds and Molson

As CEO, Reeds will continue to oversee management of the company with full operational authority.

"I'm looking forward to building on our momentum and continuing to deliver disciplined, impact-driven growth together with Jonathan and the leadership team," Reeds said in the release. 

Before joining Windmill, Reeds oversaw investor reporting and financial performance of development and major capital projects for Minto Properties. He also helped launch Minto Apartment REIT, and oversaw the investment recommendation and deal structures for approximately $850 million of acquisitions and developments.

Reeds also worked for KPMG in the real estate audit practice. He holds a bachelor of commerce degree from Carleton University, and has attained the CPA designation.

Molson joined The Daniels Corporation in 2008, where he led sustainable building, decarbonization efforts and accessible living standards, with a major focus on the purpose-built rental portfolio. 

"The addition of Adam Molson only deepens our bench strength in building better neighbourhoods,” Reeds said in the release. “He has raised the bar for building sustainable homes across a diverse residential portfolio in Toronto."

Molson has overseen several highrise residential communities from concept to completion, helping set new standards around the use of geothermal systems, all-electric building systems and rooftop solar. Molson has a master of science in planning from the University of Toronto and is a LEED-accredited professional.

"Sustainability isn't just about checking boxes," Molson said in the announcement. "I've long admired Windmill's approach to development. Jonathan, Jeremy and the leadership team understand how building homes that contribute positively to people's health, happiness and environments is fundamentally good business. 

“As developers, our job is to solve problems and uplift people. It's not products that we're building -- it's homes."

Windmill's developments

For two decades, Windmill's communities have achieved the highest level of environmental sustainability certifications.

Windmill’s current projects include:

• Hälsa at 230 Royal York, Toronto's tallest mass-timber residential building, and 
• Kennedy Green at 2444 Eglinton, Canada's largest co-op housing development in more than 30 years and the first private-led rezoning of a City of Toronto Housing Now site. 

In 2024, Windmill became the first North American company to be named as a One Planet Living Global Leader.