Change Agent: Hero Mohtadi, Dream

Connect CRE Canada has launched a new leadership series in which we interview Canadian commercial real estate industry leaders about emerging trends, keys to their companies’ success and other factors that enable them to be difference-makers.

This interview is with Hero Mohtadi, vice-president of residential operations and asset management for Toronto-based Dream Unlimited. Mohtadi explains how Dream strives to be a catalyst for positive change and how leading a diverse group of high-performing individuals can lead to peak performance in the industry, enabling a company to achieve its best outcomes and contribute to a better society.  

What are the essential elements for achieving significant progress within your organization and the industry as a whole?

In today’s demanding and ever-changing industry, businesses need to demonstrate that they can drive growth and profitability. A culture of performance and innovation, where people are encouraged to do their best work including experimenting to innovate, are required for organizations to excel.  

For those who are excelling early in their career, their continued advancement will require increasing the impact of their work on the organization, or they will plateau professionally. Individuals will be measured by their ability to drive growth, profitability and culture.  

Building a team that collaborates and innovates is highly valuable. Continuous education through organized programs is beneficial, but perhaps even more important is self-directed learning, where you analyze approaches and outcomes within your area of focus. You can also enhance your expertise by studying advancements and strategies in other industries and geographies and considering how they might be relevant or applicable to your work.

Also, focus on driving productivity and building the strongest team possible through hiring, training and collaboration. Seek high-performing team members of different backgrounds and perspectives who are driven by a sense of curiosity and achievement can outperform.  

Our society is changing dramatically and quickly. It is more open to changes than ever before.  Leading a group of diverse, performance-oriented individuals who share a passion to achieve both corporate and community goals can also lead to your peak performance in the industry and the best outcomes for your company, and contribute to a better society.  

How does Dream attempt to be a catalyst for positive change?

Our society is struggling with how to provide the basics for everyone.  Every level of government, not-for-profits, and many other contributors to our society and companies are seeking out how to provide more housing at every price point.  And, these groups are more open to changing their approach than ever before.  

There have been tremendous new policy changes over the last few years, but they haven’t been fully absorbed.  Many programs can be used with other programs to create new profitable opportunities to create new housing for all members of society.  

Participants in the multi-family sector have an opportunity to contribute to providing housing for more people with the support of all of these groups and programs.  

At Dream, we are focused on creating affordable and attainable housing, environmentally friendly and inclusive communities.

An example of our approach is the Zibi community in the National Capital Region in both Ottawa and Gatineau, Que. Zibi achieves net-zero emissions and features the Zibi Community Utility (ZCU). This system is a collaboration with Hydro Ottawa and provides net-zero carbon heating and cooling using post-industrial waste recovery, which makes Zibi North America’s first zero-carbon-emission community and sets a new benchmark for sustainability in master-planned developments.

Governmental collaboration is crucial to our success. We work closely with municipal, provincial, and federal governments to ensure our projects align with broader policy goals and regulatory requirements. These partnerships are vital for navigating approvals, accessing incentives, and effectively contributing to community development. By working together, we ensure our multi-family housing projects meet current needs and adapt to evolving challenges in the housing market.

In terms of growth and innovation, our strategy includes a robust development pipeline and strategic acquisitions. We’re not just developing new properties; we’re also revitalizing legacy properties with modern amenities and sustainability features that enhance the resident experience. Another example is our newly launched co-living property within the Zibi community. This concept addresses the current demand for flexible and communal living spaces by offering modern amenities and co-working areas while keeping rents attainable. It’s all about adapting to what people need right now and providing great options that fit their lifestyle and budget.

Finally, our Dream Community Foundation plays a key role creating inclusive communities and helping people feel that they belong.  The Dream Community Foundation (DCF) is a not-for-profit dedicated to improving the well-being of individuals, families, and neighbourhoods across Canada. Through the foundation, we create experiences and programming.  Some of these programs include homework clubs, summer camps, programs at our properties, supporting not- for-profits at our communities and generally helping create opportunities for adults and children to belong to groups, learn practical skills and be part of a supportive community.  

Whether we are focusing on making housing affordable, driving sustainability, collaborating with governments, innovating in our development projects, or supporting our communities through the foundation, our goal is to make a positive and lasting impact that supports individuals 

What recent organizational accomplishment brings you the most satisfaction? What specific challenges did it overcome, and what key factors led to its success?

One major accomplishment I’m particularly proud of is the rapid growth and success of our multi-family portfolio since October 2021. We began with a small portfolio and, despite being relatively new in the multi-family asset class, we’ve made remarkable strides in a short amount of time. It’s been incredibly rewarding to see how much we’ve achieved and grown so quickly.

This growth is a testament to the strength and resources of being part of an established global company. With access to cutting-edge technology and innovative approaches partnering with governments, not-for-profits and institutions, we’ve pushed the boundaries of what’s possible in multi-family development.

Our success is highlighted by multiple wins at the Federation of Rental-Housing Providers of Ontario (FRPO) MAC Awards, where we’ve been recognized in both years we’ve participated. We took home Suite Renovations and Environmental Excellence awards and were nominated in several other categories, including Common Area Renovations, Community Service, and Impact. Another significant achievement was winning the ULI Americas Award for Excellence for Maple House in the Canary District, underscoring the quality and impact of our projects.

We’ve also proudly launched several new properties, including Aalto Suites and Aalto II in Gatineau, Common at Zibi in Ottawa; Maple House and Mutual Street apartments in Toronto, and townhouses and single-family rental homes in Western Canada. Seeing these diverse projects come to life has been incredibly fulfilling. And we’re not stopping there—we’re eagerly anticipating the upcoming launches of Birch House and Cherry House at Canary Landing in Toronto, and many other Dream multi-family communities.

These accomplishments really highlight our ability to tackle the challenges of building a strong portfolio in a competitive market. More than that, they reflect our commitment to making a difference in people’s lives. It’s not just about expanding our portfolio—it’s about creating spaces where communities can thrive. Every new project is an opportunity to enhance people’s lives, support their well-being, and contribute to the vibrancy of the neighbourhoods we serve.

It’s incredibly rewarding to see our work positively impact so many lives and help our communities grow and prosper.

Click here to see the full Change Agents: Leaders Driving Progress series.