Tuesday, May 27, 2008

REGISTRATION AND CONTINENTAL BREAKFAST

Co-Chairs:
Bruce Rudichuk, President & CEO, Intracorp Projects Ltd.
Andy Smele, Partner & Canadian Principal,
   Panattoni Development Company

OPENING PRESENTATIONS:

Economic Overview for 2008: How Much Growth Can We Expect?

A leading economist will offer insights and forecasts on the short-term and long-term outlook for the Canadian economy, including the direction of interest rates and economic growth. Have we seen the end of the subprime fall out? What is the future direction for energy costs, the rate of inflation, and immigration and population growth patterns in major cities across the country? What impact will weak manufacturing conditions have on employment growth? What is the projection for the GTA market versus western Canada, and what can developers expect going forward?

Speaker:
Benjamin Tal, Senior Economist, CIBC World Markets
 

The Myths and Realities of Economic Growth in Ontario: What are the New Economic Engines and Will They Deliver Strong Employment Growth in 2008?

The rise of the Canadian dollar has initiated fundamental structural changes within the Canadian manufacturing sector. There seems to be a general consensus that there will be continued growth in public sector services, the construction sector and the services industry as a whole. Where will employment growth take place in the GGH over the short and long-term? What are the social economic characteristics of the evolving workforce and what are the implications for real estate development?

Speaker:
Kevin Stolarick, Associate Director & Research Associate,
   The Martin Prosperity Institute, Rotman School of Management,  
   University of Toronto
 

The Outlook for Residential and Non-Residential Land in the Canadian Market: Where is the Activity and How Far Will the Price Continue to Rise?

This session will provide an overview on the trends in the pricing and investment sales of office, industrial, retail and residential lands across the GGH. Using trend setting sales in 2007, the speaker will examine the activity level in the market and a strategic analysis of the dynamics in the GTA housing market including both low-rise and high-rise development. How much activity is there in green fields and industrial development? How does the transaction level in the GTA compare with investment activities in Calgary and Vancouver? Where are trade 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. 
 

Session A1
The Changing Landscape for Mixed Use Development: Risks, Threats & Opportunities

Hear about the lessons being learned from a range of mixed-use projects and how they can be applied to other cities and sites. The presenters will examine the planning, construction, financial and architectural issues that can radically alter the viability and profitability of a mixed-use project.  

Moderator:
Stephen Diamond, President, DiamondCorp

Panel:
Stuart Craig, Director of Planning,
   Western Canada, RioCan REIT
Ken Ferguson, President,
   FILMPORT Developments Inc.
Les Klein, Principal,
   Quadrangle Architects Limited
John MacNeil, COO, First Gulf Corporation
 

Session A2 
Today’s Challenges Facing Industrial Real Estate: From the Rising Cost of Land to the Impact of a Stronger Canadian Dollar

This session will examine some of the major challenges confronting industrial development in the current market. What is the cost of employment land in the 416 and 905 and where is it heading? How is the escalating price of land creating significantly more risk for investors? Is there a business case for spec development in the current market? Is there any opportunity for innovation to offset the land cost? What are the major changes in the logistics market and what are their implications for industrial product? Will the mandated LEED silver for industrial buildings in several municipalities undermine the value opportunities and establish a disincentive to future industrial development? The session will also examine the diversification of demand in the Canadian industrial market – from the escalating growth of the resource sector in western Canada to the fallout on the traditional manufacturing sector from the rising value of the Canadian dollar. 

Moderator:
Jim McIntosh, Senior Vice President,
   Industrial Investment Sales,
   Colliers International

Panel:
David Carreiro, Regional Director, First Industrial Realty Trust, Inc.
Jeffrey Miller, Vice President & Market Officer, ProLogis
David Ogden, President & CEO, ISG Capital Corporation
Blair Wolk, Director, Development, Orlando
 

Session A3
Accessing Private Equity for Development Today:  New Ways of Doing Business

Notwithstanding higher prices of land, the rising costs of construction, and the challenges of the municipal approval process, real estate entrepreneurs and institutional owners are all looking for development opportunities as a means to continue growing their portfolios, maintaining their business, and creating opportunities for higher yields and returns in a low cap and low interest environment. This session will examine private equity and opportunity funds and some of the strategic and creative ways that they are deploying capital in today’s market. What are their mandates and priorities for 2008? Are their funds flush with cash? What are the major differences between what they were doing prior to mid 2007 and now since the credit crunch has emerged? What is the range of development opportunities that they will participate in? How creative are they prepared to be in structuring the deal? Have buying opportunities increased as a result of the credit challenges in the market? Will the money continue to be available for development if returns get meager or borrowing costs too high?

Moderator:
Peter Senst, Executive Vice President
   & Director, CB Richard Ellis Limited

Panel:
Frank Camenzuli, President & Founder, Agellan Capital Partners Inc.
Scott Coates, Vice President, Real Estate Finance, Kingsett Capital Inc.
John Hayes, Managing Director, Blackwood Partners Inc.
Stephen Price, Senior Vice President, Corporate Development,
   Graywood Developments Ltd.

 

Session B1
The Growth of New Suburban Downtowns: Tools & Policies Supporting Development

Suburban municipal planners have embraced residential intensification and mixed-use, transit-friendly development. Have these initiatives been successful in stimulating the growth of new suburban downtowns? The speakers in this session will address the underpinnings of the successful growth of new suburban downtowns. How has community elements – commercial, recreational and institutional - contributed to new suburban downtowns? Are current governance policies attracting the desired blend of development? What initiatives, programs and policies are driving the growth of these downtowns and will this growth stimulate continued economic development?

Moderator:
Neil Rodgers, Vice President, Acquisitions & Land Development,
   Tribute Communities

Panel:
Joe Berridge, Partner,
   Urban Strategies Inc.
John Livey, Chief Administrative Officer,
   Town of Markham
Ed Sajecki, Commissioner,
   Planning & Building Department,
   City of Mississauga
Lee Sims, Director, IBI Group

Session B2
Development and Investment Opportunities Outside the 905: Challenges, Risks & Opportunities in Industrial, Office, Retail and Residential

A discussion on land availability and prices outside the Greenbelt and the 905 area. What activity is taking place in these areas and what are the challenges, risks and rewards for development? What new opportunities will be available for retail, industrial, office and residential development and how are innovation and creativity redefining risk, impacting value, and expanding opportunities? What impact will infrastructure plans and funding initiatives have on land values and the supply of land for development purposes?

Moderator:
John Crombie, Senior Managing Director, Toronto Suburban Operations &
   National Retail Director, Cushman & Wakefield LePage Inc.

Panel:
Andy Brethour, President,
   PMA Brethour Realty Group
Chris Hatto, Vice President, Acquisitions,
   Strathallen Capital Corp.
Peter McKenna, Vice President,
   Industrial & Land Division, DTZ Barnicke
Rob Nicholson, General Manager, The Aerarium Group
 

Session B3
Making History, the Condo Market Activity Surpasses Single Family Housing: Is the End in Sight!

Activity in the residential condo market now accounts for 52% of all new housing developments and there seems to an insatiable appetite for this product. What are the short and long-term outlooks for condominium development? Will the fall out from the sub prime mortgage debacle and the higher cost of lending have any impact on future developments? What strategies are developers implementing to obtain approval for high density? Given that 20,000 units are planned to come on stream in 2008, are there any high-value opportunities still remaining in this market? New opportunities in condo offices will also be addressed.

Moderator:
Barry Lyon, President & Senior Partner,
   N. Barry Lyon Consultants Limited

Panel:
Peter Freed, President, Freed Developments Ltd.
Mark Goldberg, Portfolio Director, Skyline International Development Inc.
Hunter Milborne, President & Founder, Milborne Real Estate Inc.
Mazyar Mortazavi,
   Principal & Managing Partner,
   TAS DesignBuild

 

NETWORKING LUNCHEON

PANEL DISCUSSION:
An Update on Growth Management Across the GGH: Implementation Strategy for New Places to Grow Delivery Tools

The speakers in this session will provide an update on the Government of Ontario’s growth management strategies and other provincial initiatives including transportation and transit planning and water protection. An implementation plan for new delivery tools for the “Places to Grow” policy will be discussed in detail.

Panel:
Michael Fenn, CEO,
   Metrolinx
Brad Graham, Assistant Deputy Minister,
   Ontario Growth Secretariat,
   Ministry of Public Infrastructure Renewal
Lynne Peterson, Manager,
   Provincial Planning Policy Branch,
   Ontario Ministry of Municipal Affairs & Housing
 

Session C1
Best Practices for New Communities: Balancing Competing Economic, Community and Environmental Objectives

The provincial forecast in “Places to Grow” estimates significant growth for several municipalities across the GGH. In order to balance competing economic, community and environmental objectives, the growth will have to be accommodated within very limited areas. This session will provide an overview of key items featured in York Region’s discussion paper on the best practices for building new communities and will contrast and compare best practices that have been included in three major community developments. What best practices are common to all projects? How can developers embrace the challenges of white-belt development to create sustainable livable communities?

Moderator:
Michael Moldenhauer, President, Moldenhauer Developments Ltd.

Panel:
John Godden, President,
   Clearsphere / Alpha-Tech
   Consulting & Construction
Randy Peddigrew, Senior Vice President,
   Land Development, The Remington Group
John Stevens, President,
   J.H. Stevens Planning &
   Development Consultants
Bryan Tuckey, Commissioner,
   Planning & Development Services,
   The Regional Municipality of York
 

Session C2 
Publicly-Owned Real Estate for Sale: Strategies to Achieve Fiscal Responsibility and Economic Sustainability – Opportunity Knocks

The speakers in this session will provide an overview of the planned disposition of high-valued, publicly-owned real estate in 2008 and beyond. “A blueprint for fiscal stability and economic prosperity“ report identified $18 billion in real estate assets that could be sold to help slash the city’s and the Toronto District School Board’s debt loads under the auspices of the Toronto Lands Corporation. What is the status of key properties that have been the focus of ORC Real Estate Development group’s land use planning and disposition activities? How will Waterfront Toronto achieve sustainability objectives on the East Bayfront and West DonLands precincts and what initiatives are being considered to advance revitalization efforts? Can the disposition of publicly-owned lands bridge the shortage in the supply chain?

Moderator:
Robert Dragicevic, Senior Principal,
   Walker, Nott, Dragicevic Associates Limited

Panel:
John Campbell, President & CEO,
   Waterfront Toronto
David Glass, President & CEO,
   Ontario Realty Corporation
Sheila Penny, Executive Superintendent,
   Facility Services,
   Toronto District School Board
Jeffrey Steiner, President & CEO,
   TEDCO
 

Session C3
Financing Construction & Development in a Post Subprime Environment: What Has Happened to the Availability and Pricing of Credit and Risk in Today's Market?


What has happened to the pricing and availability of construction and post-development debt financing in Canada in the current post-subprime environment? What has been the impact on underwriting and lending practices? Can borrowers expect to experience a further tightening of sources of capital and a further widening in spreads over the next twelve months? How much of an effect has there been on the price of capital and overall project costs? What are the major sources of debt and mezzanine financing for construction and development in Canada at this time? How do sources and pricing vary between build-to-suits, development for your own account, and sale leasebacks? How much more equity will be required from borrowers?

Moderator:
Terry Whalen, Managing Director, Capital Markets,
   CB Richard Ellis Limited

Panel:
Scott Cameron, President, Cameron Stephens Mortgage Capital Ltd.
Michael Carragher, Vice President , Mortgage Investments,
   Firm Capital Corporation
Carmin Di Fiore, Senior Vice President, Commercial Real Estate Banking,
   Bank of America
Chris Milne, Vice President, Real Estate Lending, Eastern Canada,
   Scotiabank
Alex Tye, Vice President, Lending, CareVest Capital Inc.
 

AFTERNOON REFRESHMENTS

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

Panel:
Kathy Harder, Chief Investment Officer, ING Real Estate
Phil King, President, Orlando Corporation
Leith Moore, Vice President, Land Development,
   The Sorbara Development Group
Fraser Nelson, General Manager & Vice President, Metrus Development Inc.
Garnet Watchorn, President & CEO, Graywood Developments Ltd.