A Q&A WITH VINCENT CHIARA
Vincent Chiara, president of Groupe Mach, is the second of three sons born to Angelo and Maria Chiara. His parents came to Montreal from Italy in the mid-1950s and settled in east-end St-Michel, where they opened a neighbourhood grocery store. Vincent recalls how hard they worked, some days until midnight.
Refrigeration systems were unsophisticated. After the last customers left, his mom and dad would pack up the produce, meat and dairy products in boxes and carry it all downstairs, to a cold storage room. In the morning, they would carry it all back up again. He said his parents were always smiling. He never once heard them complain. They were grateful to be entrepreneurs, providing for their family.
I met with Chiara at his office on McGill St.
Where did you go to school?
I graduated from John F. Kennedy High and Dawson College before enrolling in the commerce program at McGill. I had almost completed my bachelor of commerce when I changed direction and headed to l’Université de Sherbrooke for a law degree.
Did you practise law?
After graduating, in 1984, I practised commercial litigation and real estate-related law for 15 years.
Because we were a small firm, most of our clients were individuals. The decisions we were making, on a daily basis, occasionally resulted in less-than-ideal outcomes. I carried this responsibility as a burden. I decided to leave my law practice in favour of realestate development and founded Groupe Mach in 2000. I enjoyed the creative side and also loved that my decisions only affected me. This made for fewer sleepless nights.
This business is such a great fit for me. It feels like I’m always on vacation.
What were your first projects?
I began with a commercial structure at the corner of de Maisonneuve Blvd. and de Lorimier St. Soon I began acquiring land in greater Montreal and Quebec City and creating retail malls, each anchored by a large food chain or pharmacy. At Groupe Mach, we cultivate close relationships with our tenants, who we think of as our partners. They appreciate this and rent from us over and over again. Today, our portfolio is well-balanced between the asset classes: retail, office, industrial and residential holdings.
What are you working on now?
One of our current projects is Faubourg Bois-Franc, co-developed with the Montclair Group. It is a mixed-use property with commercial space at the ground level and 50 luxury condos above. Retailers include an IGA store, Jean Coutu and Première Moisson. There are also a spa and gym on site. This property is a transport-oriented development and is on target for acquiring LEED silver certification (Leadership in Environmental and Energy Design).
Anything new on the horizon?
We have something very exciting coming up. Groupe Mach was recently chosen to purchase and develop the CBC headquarters property on René-Lévesque Blvd. It’s such a great location, close to Old Montreal and the downtown core. Over the next 15 years, we will create groupings of mixed-use structures which will include commercial, retail, condo and rental properties interspersed with plenty of green space.
What is your crowning achievement?
There are two that come to mind. The first is our team, and the second is our industry reputation. When I launched Groupe Mach 17 years ago, I was alone. Today, I have 90 superb employees. Their support and the loyalty of our partners have given me the courage to be innovative.
A few years ago we developed office buildings in the Mile End and St-Henri districts even though real estate experts echoed concern. They said these neighbourhoods were not viable and tenants would not come. Today, Montrealers have these two new sectors where they can live, work, shop and play.
What do you enjoy when you are not working?
Weekends are devoted to fun activities, which recharge my energy. I love spending time in the Eastern Townships with my wife and our two teenaged kids. We enjoy hiking, horseback riding and skiing. I also play hockey and tennis.
What puts the spring in your step?
I am a naturally self-motivated and positive person — like it’s hardwired in my DNA. These traits were also nurtured in me. From a young age, I witnessed my parents’ dedication. Today, I feel the same enthusiasm for a real-estate project as I do when volunteering on a public board.
I remember, at age seven, how much I loved riding along with the truck driver my parents employed to deliver groceries to our clients. I got to know everyone in the neighbourhood. When I walked down the street, people would say: “Aren’t you Mr. and Mrs. Chiara’s boy?” I beamed with pride.
Not much has changed. I am still proud of my origins and happy to be continuing the entrepreneurial tradition my parents began.