Over the holidays, I spent time getting clear on specific actions that I will take to maximize results and move the needle in a big way in 2024.
I’ve spent four years serving as Principal at Channel Consulting, partnering with clients on pre-development consulting, working with local government on development processes, and interpreting new regulations. For my 5th year, my focus is on delivery of housing supply in Canada.
I’m past the point of piddling around with small-impact solutions.
I am committed to taking big action to help unlock the housing problem.
Can you relate? Did you have moments in 2023 where you felt you were spinning your wheels, struggling to deliver significant housing projects?
If so, I hope you’ll join me in sharpening our focus this year. As we leap into 2024, my attention is on:
➡️ Development of transit-oriented sites.
Especially in light of recent regulations like Bill 47 in BC, THIS is our best bet for impacting the housing crisis.
We’ll talk more about this in posts to come—but for now, suffice to say transit-oriented sites can be the most economically viable option for developers who want to make a real difference in delivering housing units.
➡️ Getting real about the potential of multiplex development.
After investing personal time and resources studying multiplex, I’ve reached the conclusion that multiplexes simply aren’t going to make a major splash in solving the crisis.
Taking a single family home and redeveloping it for up to 4 to 6 units is mostly not economically viable, and these sorts of projects don’t substantially help us to hit the numbers we need to make a difference in the housing problem in Canada.
➡️ Supporting the pre-development phase of housing projects.
Given the scale of investment required, institutional investors are now nearly the only groups that can afford to build and hold rental housing assets in big cities in Canada. But, institutional investors want sites that are shovel-ready.
Meantime, developers have a problem securing pre-development funding to get a site shovel-ready for institutional investors. This dilemma impacts the development of rental housing in Canada.
In my view, rents are worsening because of the difficulty of finding suitable investors through different stages of the development process.
So… I am excited for Uplift Fund to start to get involved in transit-oriented sites in 2024. Uplift will provide pre-development capital to navigate zoning and approvals. For more information, join the wait list here: www.upliftfund.ca
Could you or someone you know use help taking a transit-oriented site through zoning and approvals?
If so, let’s discuss the best way to support you in 2024.
I hope you’re ready to hit the ground running.
To solutions that will help us create the impact we desire,