Thank you Mackenzie Biggar, Tom Burr, and Kendal Harazny for a great discussion at the Western Canada Apartment Investment Conference on April 4, 2023 in Vancouver.
We had fun! And, we learned a lot from one another!
We spoke in depth about case studies and specific actions that groups are taking to manage risk in apartment housing development in the current environment.
Even as someone who works in this field every day (and has for 25 years), it was an eye-opening conversation.
>> We started with a look at how real estate developers are approaching the continuing turbulence in the land development space.
>> We chatted about some of the specific challenges developers in Vancouver, Calgary, Victoria, and Kelowna are facing—especially regarding the slow pace of approvals in BC + the fact that 9/10 projects are struggling to receive financing.
>> We spoke about the diverse challenges in Calgary and Edmonton vs. Toronto, and how land developers can find creative solutions for issues with design, permitting, building materials, financing, and more.
>> We also went WAY in-depth on conversations regarding the availability of land and labor—perhaps the two most important variables impacting land developers in 2023-24.
There was agreement that the key action for 2024 is to do what it takes to be shovel-ready or have shovels in the ground.
I valued this opportunity to listen and connect to find truth.
What are you learning right now?
What are you doing to manage risk for 2023 and 2024? Is there anything you’d add to the conversation?
I’d love to hear your perspective!
Please share your specific ideas. Please set up some time to share your perspectives with me.