June 2, 2006

REGISTRATION AND CONTINENTAL BREAKFAST

Co-Chairs:
Michael LeGresley, President & CEO,
     Giffels Design-Build Inc. and Asset Management
Fraser Nelson, General Manager & Vice President, Metrus Development Inc.

OPENING PRESENTATIONS:

THE ECONOMIC OUTLOOK FOR THE GTA: 2006 AND BEYOND

The opening presentation will examine the economic outlook and performance of the GTA market and the trends that are driving the growth in the area. What is the outlook for employment and growth for the GTA? What is the projection for the GTA market versus western Canada? How will the GTA market perform in comparison to eastern Canada? What will be the impact of rising energy costs? What type of manufacturing and industry activity is growing and where? Where are Canadian interest rates and bond yields heading and what will be the impact on the GTA market?

Speaker:
Mario Lefebvre, Director, Metropolitan Outlook Service,
     The Conference Board of Canada
 

EMERGING DEMOGRAPHIC TRENDS & POPULATION GROWTH: OUTLOOK FOR THE GREATER GOLDEN HORSESHOE

Immigration, major urban migration trends, interprovincial trends, and demographic trends are all affecting growth in the GGH and Southern Ontario. Given the forecasts for manufacturing and industry activity, what will be the impact on communities and residential development? Has there been any significant change in growth patterns in the GGH over the past year? Will there be new pockets of growth activity in the GGH and where? How does this compare with provincial forecasts? How much reliance should investors and developers place on these forecasts in making land investment decisions? 

Speaker:
Frank Clayton, President, Clayton Research
 

AN OVERVIEW AND OUTLOOK FOR LAND IN THE CANADIAN MARKET: WHERE IS THE ACTIVITY AND WILL THE PRICE CONTINUE TO RISE

This session will provide a strategic analysis of land transactions in the GTA. Using trend setting sales in 2005, the speaker will examine the activity level in the market and will provide an overview of key investment trends. How much activity is there in greenfields and industrial development? How does the transaction level in the GTA compare with investment activities in Calgary and Vancouver? Where are trading volumes and cap rates currently and where do they appear to be heading in the next 12 months?   

Speaker:
George Carras, President, RealNet Canada Inc. 
 

AN ANALYSIS OF THE KEY PRESSURES AND MAJOR ISSUES ON THE AVAILABILITY OF LAND IN THE GGH

The speakers in this session will examine the influence of economic, demographic, and investment trends on the availability of land. Is there more land available for development or is it drying up? What is the impact of these key pressures on land availability and value in the suburbs and in the city? How much land is available for development, and how does a potential buyer determine the value? What impact does the current availability of land and price trends have on retail, industrial, and residential development?

Moderator:
Randy Grimes, Director, IBI Group

Panel:
Haydn Matthews, Executive Vice President, Land Development,
     Great Gulf Homes
Tom McCormack, Executive Director, Centre for Spatial Economics
Ken Nevar, Executive Vice President, Cooper Construction Limited
Mark Tutton, Senior Vice President, Land Development,
    Tribute Communities
 

Session A1
THE IMPLICATIONS OF THE NEW PLANNING ACT AND BILL 51: WILL IT HAMPER THE DEVELOPMENT PROCESS IN ONTARIO? 
There is considerable debate about the latest revisions to the Planning Act and their impact on development activity. How will the role of the OMB change? When will it change? How will it affect land development? Will an open-house consultation have a huge impact on the planning process?  Will it facilitate the planning and development process and provide easier access to building permits? What are the implications for development charges and zoning by-laws? Will these changes support a conservation agenda? How will the introduction of architectural control and minimum densities impact design and development standards?

Moderator:
Lynda Townsend Renaud,
     Lynda J. Townsend Renaud LLP

Panel:
Greg Daly, Associate Principal, Walker, Nott, Dragicevic Associates Limited
Stephen Diamond, Partner, Real Property & Planning,
     McCarthy Tetrault LLP
Andrew Madden, President, Diral Development Corporation
Mark Noskiewicz, Partner, Goodmans LLP
Neil Rodgers, President, Urban Development Institute

Session A2 
AN OVERVIEW OF LAND VALUES & DEVELOPMENT OPPORTUNITIES IN THE 905 AREA
This session will provide an analysis of the most significant trends and issues impacting land value and development in what is commonly referred to as the 905 area. Are there still opportunities for major retail and industrial developments in this area? What will be the impact of the recently announced government funding for redevelopment initiatives and infrastructure renewal? Do current land prices still allow for viable, profitable development? If there is a scarcity of land, are developers moving into brownfields? What impact will recent government funding initiatives have on infrastructure renewal and development opportunities in the 905 area?

Moderator:
Leith Moore, Vice President Development, Landtactix Inc.

Panel:
Janet Babcock, Commissioner, Planning and Development,
      Town of Richmond Hill
George Borovilos, Director, Economic Development & Tourism,
     Northumberland County
Leo DeLoyde, General Manager, Corporate Services, City of Burlington
Gary Gregoris, Vice President, Land-Halton Division,
     Mattamy Homes Limited
John Walker, Director, Long Range & Strategic Planning,
     Regional Municipality of York
Blair Wolk, Project Manager, Orlando Corporation

Session A3
THE BROKERS ROUNDTABLE: THE NATIONAL OVERVIEW ON LAND INVESTMENT ACTIVITY
Access to debt and equity capital has rarely been better and at, historically, very low rates. This session will feature a wide-ranging discussion on current and emerging land investment trends in the GGH and in key cities across Canada from the perspective of leading brokers. Who are the most active buyers? Who are the sellers? What are some of the key issues that need to be considered when buying land in Calgary, Vancouver , Quebec, or the GGH. What are the comparative pressures that influence the land value in each location? Where are prices today and where are they headed?

Moderator:
Michael LeGresley, President & CEO,
     Giffels Design-Build Inc. and Asset Management

Panel:
Gordon Cook, Senior Vice President & Director, Colliers International
Mike Czestochowski, Vice President, CB Richard Ellis Limited
John MacDonald, Partner, JJ Barnicke Edmonton Ltd.
Peter Mason, Senior Vice President & Director of Business Development,
     Cushman & Wakefield LePage Inc.
Ken Westhaver, Principal, Development Services,
     CB Richard Ellis Alberta Limited
 

Session B1
WHAT IS THE TREND AND DEMAND FOR VARIOUS TYPES OF CONDO DEVELOPMENTS: WHAT ABOUT LAND PRICES AND AVAILABILITY? 
Activity in the residential condominium market continued at a record pace in 2005 and yet there seems to be an insatiable appetite for this product. What strategies are developers implementing to deal with the rising costs of land? What is the short and long-term outlook for condominium development? What strategies are developers implementing to obtain approval for higher density? Is there evidence of a change in demand for product types? Are family units becoming more popular? Is there a growing preference for mid or low-rise developments as opposed to high-rise? Are condominiums that are designed as green buildings experiencing stronger demand than traditional products? With the escalating cost of land, is there a business-case for building co-ops? What is the inventory and price of land for these product types?

Moderator:
Barry Lyon, President, Barry Lyon Consultants Limited

Panel:
Andy Brethour, President,
     PMA Brethour Group
Ian MacLeod, Manager, Land Valuation,
     Altus Helyar
Linda Mitchell, Vice President of Marketing, High-Rise,
     Monarch Corporation

Session B2
GROWING OPPORTUNITIES IN BROWNFIELD DEVELOPMENTS
With the shrinking manufacturing base and supply of greenfields, developers are looking for new opportunities. Developers who traditionally build low-rise are looking at high-rise and green field developers are now looking a brownfields. What are the opportunities for a cost-effective brownfield development in the City of Toronto, in the suburbs, and other key locations in the GGH? Has there been a perceptual change in the public’s acceptance of remediated sites? What are the attitudes of lenders and investors towards brownfields and are there government initiatives and partnership strategies to help remediation plans turn environmental hazard sites into profitable developments?

Moderator:
Don Goundry, Vice President, CB Richard Ellis Limited

Panel:
Richard Dresher, Vice President, CMD Insurance Services Inc.
Mitch Fasken, President, Kimshaw Holdings Limited
Don Mathew, Senior Vice President, Land & Commercial Development,
     Giffels Management Limited
Bill Roth, Sector Director, Real Estate Services, Jacques Whitford

Session B3
LAND ACQUISITION STRATEGIES: INNOVATIVE FUNDING ALTERNATIVES & NEW PARTNERSHIPS
There is currently a scarcity of serviced lots in the GGH and many acquisitions are conducted on a cash basis. There is also a lot of consolidation taking place in the market; big players are getting bigger and smaller players are being squeezed out. This session will address the availability of capital and examine some of the innovations that are dominating today’s market activities. What forms of capital are evolving? Are the debt and equity markets increasing or decreasing the amount of capital available for land transactions? Gain insights into how developers are forming partnerships to finance projects and taking equity positions to facilitate a development project. Learn why some lenders are moving from a traditional to a non-traditional role in the current environment.

Moderator:
Gerard Caverson, Vice President, Real Estate Lending,
     MCAP Financial Corporation

Panel:
Craig Binning, Associated Director,
     Hemson Consulting Ltd.
Rob Goodall, President,
     Canadian Mortgage Capital Corporation
Andrew Guizzetti, Executive Vice President, Empire Communities
Kevin Murphy, Vice President Commercial,
     Builder Finance, Ontario, Royal Bank of Canada
 

NETWORKING LUNCHEON

ROUNDTABLE DISCUSSION
AN UPDATE ON GROWTH MANAGEMENT ACROSS THE GGH: HOW ARE MUNICIPALITIES RESPONDING?

This session will provide an update on the Government of Ontario’s growth management strategies and examine some of the modifications that were implemented in 2005.  The implications of the Places to Grow policy and the Greenbelt legislation on cities in the GGH will be examined. Some of the issues that will be examined include: 

• What policies are municipalities introducing to stimulate development?
• Is there a preference for one type of development over another?
• Are there plans to relax zoning by-laws to facilitate new growth?
• What does the future hold for employment lands? 

Moderator:
Fraser Nelson, General Manager & Vice President, Metrus Development Inc.

Panel:
John Corbett, Commissioner of Planning, Design & Development,
     City of Brampton
Jay Currier, Town Manager, Town of Bradford West Gwillimbury
Brad Graham, Assistant Deputy Minister, Ontario Growth Secretariat,
     Ministry of Public Infrastructure Renewal
Larry Kotseff, CAO, City of Guelph
Peter Lee, City Administrator, City of Barrie
 

Session C1
THE TRANSITION FROM ASSET MANAGERS: HOW REAL ESTATE INVESTORS AND ORGANIZATIONS ARE FOCUSING ON MORE DEVELOPMENT OPPORTUNITIES  

Moderator:
Tony Moro, former President & CEO, Deltera Inc., Tridel Builders Inc.

Panel:
Margaret Knowles, Senior Vice President, Development,
     Morguard Investments Limited
Jeff Miller, Vice President & Market Officer, Capital Deployment - Toronto,
     ProLogis
Stephen Suske, Vice Chair, President, & Trustee,
     Chartwell Seniors Housing REIT
Art Welter, Vice President, Development, Trinity Development Group Inc.

Session C2 
WHAT IS THE OUTLOOK FOR LAND VALUE AND DEVELOPMENT OUTSIDE THE GREENBELT? ARE THERE MORE OPPORTUNITIES?
A discussion on land availability and prices outside the Greenbelt and the 905 area. What  development is taking place in these areas and how challenging is it to find large parcels of land for community development? What potential impact will these infrastructure plans and funding initiatives have on land values and the supply of land for development purposes? What new opportunities will be available for retail, industrial, and residential development as a result of these new funding initiatives?  

Moderator:
John Genest, Partner,
     Malone Given Parsons Ltd.

Panel:
David Gerofsky, COO & Partner, First Golf Development Corporation
Celeste Phillips, Partner, Meridian Planning Consultants Inc.
Peter Schut, Vice President, Acquisitions & Development,
     Brookfield Homes (Ontario) Limited
Lucy Stocco, Executive Vice President, Tribute Communities

Session C3
RESIDENTIAL INTENSIFICATION: WHAT ARE THE NEW OPPORTUNITIES?
The speakers in this session will provide an overview of some of the major intensification projects that have taken place over the past year, in the context of a rapidly changing market and policy context. Have the inconsistencies in density levels in the city and the 905 areas been resolved or do they still exist? Is governance still a major issue affecting this type of development in built-up communities and neighbourhoods? The government recently announced some key funding initiatives and infrastructure programs. What will be the impact of these initiatives on the supply of land and intensification projects?

Moderator:
George Payne, Group Leader, Commercial Real Estate, Toronto Practice,
     McMillan Binch Mendelsohn

Panel:
Paul Bedford, Urban Mentor & Chief Planner Emeritus, City of Toronto
Jeff Lehman, Senior Consultant, Metropolitan Knowledge International
Hazel McCallion, Mayor, City of Mississauga
Bryan Tuckey, Commissioner of Planning & Development Services,
     Regional Municipality of York
Jack Winberg, President & CEO, The Rockport Group
 

CLOSING ROUNDTABLE: WHAT DOES THE FUTURE HOLD FOR LAND VALUE AND DEVELOPMENT ACTIVITY?

Although Canadian real estate still represents exceptional value on a global basis, the cost of land continues to escalate unabated and in today’s market exceeds the cost of land in some major international markets. Many pundits maintain that current government policies and legislation will only serve to worsen the problem. This panel will include a comparative discussion of land values and development activity in key markets across Canada.

• Do opportunities still abound in the GTA? If so, where and how are developers taking advantage of these opportunities? How do these opportunities compare with major centres in Calgary and Vancouver?

• Does development really impose a financial burden on municipalities? If not, how can the industry correct this perception?

• Are Canada’s servicing and planning models driving up the cost of land?

• The Places to Grow policy was supposed to stimulate intensification? Is it working and if not, what is needed? Has it contributed to downtown office development in Toronto? Do similar policies exist in other key markets?

• Are the municipalities really receptive to all forms of development or do they favour one type over another?

• Do municipalities have the tools to finance growth? If not, can the industry provide some solutions?

• How can the industry raise the public’s awareness of the positive implications of development?

• How is inflation of construction costs impacting the current and forecast development model? For example, land prices must diminish or the final product must inflate to world levels.

Moderators:
Michael LeGresley, President & CEO,
     Giffels Design-Build Inc. and Asset Management
Fraser Nelson, General Manager & Vice President, Metrus Development Inc.

Panel:
Brian Johnston, President, Monarch Corporation
Phil King, President,
     Orlando Corporation
Mark Mandelbaum, Vice President, Land Development, H&R Developments
Michael Nachamkin, Senior Vice President & Regional Director,
     North East U.S. and Canada, ProLogis
Alan Norris, President & CEO, Carma Developers Ltd.