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OPENING REMARKS: CONFERENCE CO-CHAIRS

Conference Co-Chairs:
Jordan Robins, Senior Vice President, Planning & Development,
RioCan REIT
Alan Vihant, Senior Vice President, High-Rise,
Great Gulf Group of Companies
 

ECONOMIC OVERVIEW: IS A HOUSING BUBBLE REALLY LURKING? HOW MUCH JOB GROWTH CAN WE EXPECT IN ONTARIO?

An insightful examination of key trends in the Canadian economy with a specific view towards the short and medium terms, including the outlook for GDP growth, interest rates, energy and commodity prices, currency values, and the rate of inflation. How much immigration and population growth can we expect in Ontario? What will be the underlying drivers for employment growth? Are the housing markets in the GTA and Canada as a whole facing a bubble that will burst or not? What is the outlook for the recovery of the U.S. economy over the next twelve months?

Benjamin Tal, Senior Economist, CIBC World Markets





THE STATE OF THE LAND INVESTMENT AND HOUSING MARKET IN THE GTA: MYTHS VS. REALITIES

An overview of the activity and pricing trends in the investment and land markets across the GTA for both residential land and ICI land. The presentation will also perform a critical analysis of the GTA housing market including the dynamics between both low-rise and high-rise new home development and the resale market demystifying the fallacies from the facts.

George Carras, President, RealNet Canada Inc.





DEVELOPMENT LANDSCAPE IN THE GREATER GOLDEN HORSESHOE: HOW ENGAGED ARE MUNICIPALITIES WITH ENCOURAGING GROWTH?

A thorough analysis of growth and development options, boundaries, incentives, and restrictions from municipalities across the GGH. What mechanisms are in place to encourage development and maneuver developers through the approvals process? Where will municipalities be allocating infrastructure spending, and where is the funding coming from? How are green building requirements and tax credits being implemented? How are development charges affecting transactions and construction? What are the provisions for low-density housing? What economic development initiatives are being implemented?

Don Given, Founding Partner & President, Malone Given Parsons Ltd.



 

10:20 a.m.

Session A1

INTENSIFICATION AND REDEVELOPMENT IN THE CITY OF TORONTO: HOW ARE COSTS AND MUNICIPAL POLICIES AFFECTING INFILL ACTIVITY? WHAT OPPORTUNITIES ARE THERE FOR INNOVATION?



Within the City of Toronto, the demand for intensification continues to be strong, but rezoning and redeveloping infill properties comes with a unique set of regulations, approvals, and costs. How are municipal policies affecting approvals, and what are the most significant regulatory issues that developers/investors face throughout the process? This session will also examine some of the major factors associated with this challenging form of development: how feasible is it to incorporate greening elements into these projects; how is heritage legislation affecting redevelopment; what will be the impact of tall buildings guidelines; how can you successfully navigate City of Toronto zoning bylaws when many properties are considered “legal, non-conforming”; what are the opportunities for development around current and proposed public transit stations; and how is the City of Toronto Act impacting the development of different product types?

Moderator:
Mark Noskiewicz, Partner, Goodmans LLP

Panel:
Peter Walker, President & Senior Principal, Walker, Nott, Dragicevic Associates Limited
Mary Flynn-Guglietti, Partner, McMillan LLP
Brian Curtner, Partner, Quadrangle Architects Limited
Jeanhy Shim, Vice President, Sales & Marketing, Streetcar
Developments Inc.

 

Session A2

DEVELOPMENT AND INVESTMENT OPPORTUNITIES IN MARKETS OUTSIDE THE 905: WHAT IS THE OUTLOOK FOR RESIDENTIAL AND COMMERCIAL ACTIVITY?

With land availability becoming scarcer inside the Greenbelt and 905 areas, which markets are attracting development interest, and who is active in these communities? This session will examine the opportunities and activity in residential and non-residential projects in growth areas to the north, east, and west of the areas well beyond the GTA and consider the extent that municipal planning policies in these markets are affecting and facilitating development. What impact will infrastructure plans, development charges, and funding initiatives have on land values, the supply of land, and product choice in these regional centres, and how do they compare with opportunities in the 905?

Moderator:
Peter Whatmore, Senior Vice President, CB Richard Ellis Ltd.

Panel:
Janet Babcock, Commissioner of Planning Services, City of Cambridge
Frank Doracin, President, Mattamy Development Corporation
Larry Masseo, Vice President, Planning & Acquisition, Activa Group
Ken Nevar, Executive Vice President, Cooper Construction Limited

 

Session A3

WHAT LIES AHEAD FOR INDUSTRIAL DEVELOPMENT: WHAT HAS BEEN THE IMPACT OF THE BATTERED MANUFACTURING SECTOR AND THE OBSOLESCENCE OF OLDER PRODUCT?

Though there is a solid inventory of usable industrial opportunity in the Greater Golden Horseshoe, the significant changes in Ontario’s manufacturing sector have rendered at least eight million square feet of industrial space redundant. Tax treatments and zoning bylaws prevent many developers from demolishing existing buildings, and land prices, development charges and Employment Land designations are impacting other viable opportunities. This session will examine the major challenges confronting industrial development in the current market, and what opportunities lay ahead. What industries and uses are starting to replace the battered automotive and traditional manufacturing sectors, and what type of space will they be looking for? Where are businesses and industrial users locating? Is build-to-suit the most viable option, or is there still a business case for spec development? How much growth can be expected in the logistics sector?

Moderator:
Peter McKenna, Vice President, Colliers International

Panel:
Joe Nestic, Senior Vice President, Menkes
Lorne Kumer, Vice President, Real Estate, MI Developments Inc.
David Leeming, Vice President, Eastern Canada, Hopewell
Development Corporation
Mark Tutton, Vice President, Acquisitions, Northam Realty Advisors

 

11:30 a.m.

Session B1

FROM DEVELOPMENT CHARGES AND TAX CREDITS TO CONSTRUCTION AND LAND COSTS: WHAT IS THE REAL COST OF DEVELOPMENT TODAY?

This session will try to determine what is true cost of development in today’s market and where is it heading. Where is the cost of land in the GGH at the moment and where is it heading? Given the recession that we emerging from, what has happened to the cost of construction? Items such as development charges and tax treatments are affiliated with product and location choices, but bureaucratic logjams created by the approvals process and the necessity of developer-funded local services can wreak havoc on a projected return on investment. Incorporate grant expectations, the timing of tax credits for green building, the cost of planning and of infrastructure: at what point does development stop making sense? This panel will analyze the current and emerging strategies for minimizing these risks, controlling and managing costs, and trying to determine when development makes sense.

Moderator:
Chris Potter, Partner, PriceWaterhouseCoopers LLP

Panel:
Michael Barker, Executive President, Altus Group
Gerard Caverson, Managing Director, Vandyk Real Estate Advisory Services
John Filipetti, Vice President, Development, Oxford Properties Group
Steve Upton, Vice President, Development, Tridel Corporation

 

Session B2

RESIDENTIAL DEVELOPMENT ACTIVITY ACROSS THE TORONTO COMMUTERSHED: SUPPLY AND DEMAND TRENDS FOR LOW-RISE AND CONDOMINIUM MARKETS

Over the last year the low-rise and condominium market faced recessionary concerns, but sales once again escalated and performed well. In fact, the inventory of townhouse has virtually disappeared. What factors are driving this appetite for both low-rise and high-density lifestyles, and how long will this pace continue? What are the trends regarding demand for various product types, and how will the HST impact the range and pricing of residential products in the marketplace after July 1st? Where are the ideal residential development opportunities in Toronto and across the GTA? What strategies are developers implementing to obtain approvals for higher densities, and how are they dealing with the availability of capital and the cost of development charges? How to address the lack of low-rise housing?

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



Panel will include:
Bruce Rudichuk, President & CEO, Intracorp Projects
Niall Haggart, Executive Vice President, The Daniels Corporation
Andrew Brethour, President, PMA Brethour Realty Group

 

Session B3 
HOW SIGNIFICANT ARE THE DEVELOPMENT OPPORTUNITIES ASSOCIATED WITH PUBLICLY-OWNED REAL ESTATE?

This session will examine the wide range of potential development opportunities related to publicly owned real estate across the GGH. Discussion will focus on the properties and assets available from school boards, the Ontario Realty Corporation, Canada Lands Corporation, Build Toronto, Toronto Waterfront Corporation, and other municipal, provincial and federal government agencies. What are the land use planning objectives of these respective organizations? Of those who have disposition plans, what are they offering? What other type of development opportunities are they seeking? How much of these could be considered as high-value?

Moderator:
Lisa Borsook, Managing Partner, WeirFoulds LLP

Panel:
Lorne Braithwaite, CEO, Build Toronto
John Campbell, President & CEO, Waterfront Toronto



David Glass, President & CEO, Ontario Realty Corporation



Shirley Hoy, CEO, Toronto Lands Corporation



Mark Laroche, President and CEO, Canada Lands Company CLC Limited


 

CLARIFYING PROVINCIAL PRIORITIES FOR INFRASTRUCTURE AND DEVELOPMENT IN THE GREATER GOLDEN HORSESHOE

Hon. Brad Duguid, Minister of Energy & Infrastructure

 

WHAT IS THE OUTLOOK FOR LAND INVESTMENT AND DEVELOPMENT ACTIVITY OVER THE NEXT TWELVE MONTHS? WHAT STRATEGIES SHOULD YOU BE THINKING ABOUT?

Given the broad range of issues being discussed at the Land & Development Conference, a panel of well-respected senior real estate executives will provide their insights and perspectives individually and as a collective, on what they believe are the most critical issues and market trends that the development sector must focus on over the next 12 to 24 months, and what courses of action they would suggest accordingly. The panel will offer a divergence of perspectives on land availability, low rise housing market, condominium activity, and commercial infill and suburban development.

Moderators:
Jordan Robins, Senior Vice President, Planning & Development,
RioCan REIT
Alan Vihant, Senior Vice President, High-Rise, Great Gulf Group of Companies

Panel:
Phil Gillin, Senior Managing Director & Head of Cdn. Real Estate,
Sun Life Assurance Company of Canada
John MacNeil, President & COO, First Gulf Corporation
Hazel McCallion, Mayor, City of Mississauga
Fraser Nelson, General Manager & Vice President, Metrus
Neil Rodgers, Vice President, Acquisitions & Land Development, Tribute Communities

 

Session C1

PLANNING AND DEVELOPMENT OVERVIEW OF THE 905 MARKETS:
WHAT ARE THE CONSTRAINTS AND THE OPPORTUNITIES?



With greenfield sites becoming considerably scarcer across the 905 area, what are the opportunities for residential and commercial development in these former bedroom communities? What are the growth priorities of these municipalities and how are their planning policies and land use approval process affecting development? Which submarkets are attracting the greatest amount of developer interest? What type of projects are they pursuing? To what extent is intensification activity growing within the 905 area? In what way are any of these municipalities favouring forms of green building and development?

Moderator:
Lindsay Dale-Harris, Managing Partner, Bousfields Inc.

Panel:
Mike Czestochowski, Senior Vice President, CB Richard Ellis Limited
Sheldon Libfeld, President, The Conservatory Group
Randy Peddigrew, Senior Vice President, Land Development,
The Remington Group



Maurizio Rogato, Planner, Solmar Development Corporation

 

Session C2 

CUTTING-EDGE INFILL DESIGNS IN THE 416 / 905:
KEEPING INNOVATION ALIVE THROUGH THE APPROVALS PROCESS



Infill developers face an increasingly complex and disparate set of regulations and approvals, which has resulted in a narrowing of the field and a lack of design innovation. How are developers able to successfully bring a project to the market, given the resulting delays in development and increased cost of construction? This session will feature leading-edge retail and residential projects through the 416 and 905 areas that have successfully navigated the system while achieving an original and progressive relation to their existing contexts.

Moderator:
Alan Vihant, Senior Vice President, High-Rise, Great Gulf Group of Companies

Panel:
Peter Carver, Principal, Carttera Management Inc.



Geoff Matthews, Director, Acquisitions & Development, Great Gulf



Group of Companies
David Wex, Principal, Urban Capital Property Group


 

Session C3

FINANCING LAND ACQUISITION, CONSTRUCTION AND DEVELOPMENT IN TODAY’S CREDIT ENVIRONMENT: WHO IS LENDING, AND WHAT IS NOW THE REAL COST OF CAPITAL?

What has happened the pricing and availability of debt and equity financing for land, construction and development activity in Canada in the post-subprime environment?

Who are now the primary sources? How are lenders evaluating a deal in today’s market? How is risk being priced now? What is happening with loan spreads, amortization periods, loan to value ratios, and recourse? What has been the impact on other underwriting and lending practices? Who are the funds, banks, insurance companies, and others lending to? What property classes, types of projects, and markets are lenders avoiding, reducing exposure to, or increasing pricing for? Who is servicing the secondary markets and smaller loans? How do you meet your lender’s comfort level?

Moderator:
Don MacKinnon, Senior Vice President, Real Estate Finance, RioCan REIT

Panel:
Tom Reece, Vice President, Lending & Regional Manager – Ontario,
CareVest Capital Inc.
Chris Milne, Vice President, Real Estate Lending, Scotiabank
Robert Goodall, President, Canadian Mortgage Capital Corporation
Bruno Iacovetta, Managing Director, MCAP
Howard Steinberg, Chief Investment Officer, The Rose Corporation