7:00 AM |
REGISTRATION & CONTINENTAL BREAKFAST |
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8:00 AM |
OPENING REMARKS: PROGRAM OVERVIEW |
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Introduction of the Forum Chairman: Roque Hsieh, Partner, KPMG
Forum Chairman: Brian McCauley, President & Chief Operating Officer, Concert Properties Ltd. |
8:05 AM |
KEYNOTE ADDRESS – ECONOMIC OVERVIEW: WHAT IS THE OUTLOOK FOR THE U.S. AND CANADA? |
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Another year has passed and there is still no clear consensus on whether the recession is really over or whether this is a new type of recovery. Many feel Canada has come through the turbulent times somewhat unscathed but that the U.S. faces a much longer and tougher road ahead. On the other hand, some feel both Canada and the U.S. may be in for some aftershocks before we see moderate and steady growth. Mr. Jestin will offer his insights and perspectives on the situation and conditions in North America for the next 12-18 months. He will analyze and compare each of the major fundamentals between Canadian and the U.S. markets, e.g. employment, GDP growth, bank rates, inflation, housing market and other economic drivers. The discussion will also include a review of the economic issues in Europe and their affect on B.C. and Canada.
Speaker: Warren Jestin, Chief Economist, Scotiabank
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8:30 AM |
A GLOBAL PERSPECTIVE ON VANCOUVER REAL ESTATE - IS VANCOUVER STILL ATTRACTIVE AND IF SO WHY? |
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Why is Vancouver so attractive? Who are the buyers today and where is the money coming from? Where are investors putting their capital in the short term and the long term? Who are the active buyers and sellers and how do attitudes vary from institutional vs. private and domestic vs. offshore? What trends are affecting local investment potential and confidence? Are the current challenges in the U.S. and Europe influencing the Vancouver market? When can the U.S. expect to start seeing growth and seeing values improve? Reviewing recent global activity and some of the most significant transactions of the past year, the panel will identify which property types are "top of mind" and why, providing an outlook for investment activity over the next 12-18 months.
Moderator: John O’Bryan, Vice Chairman, CBRE Limited Panel: Andrew Bibby, President & CEO, Grosvenor Americas
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9:20 AM |
LEGENDARY SERIES: A PANEL OF LEGENDARY PLAYERS IN THE VANCOUVER MARKET |
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Looking in the rearview mirror what does this panel of Vancouver icons have to say about the growth of Vancouver over the last 50 years and where do they see the city playing a role on the world map going forward? These legends will share some of their insights, including their personal best deal and the one that they would rather forget.
In discussion with: Ward McAllister, President & CEO, Ledingham McAllister Properties Ltd. Panel: Natale Bosa, President, Bosa Development Corporation |
10:10 AM |
MORNING REFRESHMENTS |
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10:30 AM |
CONCURRENT SESSIONS (Select A1, A2 or A3) |
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Session A1:A CHANGING LANDSCAPE – THE VANCOUVER OFFICE MARKET
Given the slower global economic recovery, is there an impact on our local office markets? Is there adequate corporate demand to absorb the 1.5M to 2M sf.+ of new construction for 2014/2015/2016?How will the proposed tenant relocations impact the existing downtown office inventory? Will we see downward pressure on lease rates in the near future? How much of this activity is pure absorption versus tenant "musical chairs" moving from one portfolio to another? Is there any evidence of a flight to the suburbs or potential consolidation within the suburbs? How important is LEED for new construction and are tenants making specific demands on sustainability initiatives?
Moderator: Mark Renzoni, Executive Vice President, CBRE Limited Panel: Franz Gehriger, President, SwissReal Group Canada
Session A2:LAND DEVELOPMENT IN VANCOUVER: DENSITY, HOUSING AFFORDABILITY, THE PUBLIC, and OTHER EMERGING FACTORS
This panel will examine emerging trends in the land development industry. What are the biggest issues affecting land development in 2012? What are the trends moving forward? How is density and housing affordability linked? What do we do next, now that we're running out of zoned land? Hear what four industry leaders in Metro Vancouver have to say about land development and the future of the industry, and economic, public, and political challenges facing major development projects
Moderator: Gary Pooni, President, Brook Pooni Associates Inc. (download presentation) Panel: Jeff Fisher, Deputy Executive Director/Senior Policy Advisor, Urban Development Institute Session A3:40 UNDER 40: WHO ARE THE NEXT LEADERS AND GAME CHANGERS IN BC REAL ESTATE?
Where have they come from and where are they going? What have they done to make a name for themselves and how will they keep striving for the top? What can you expect to see from them next and how do they interpret the global economic situation?
Moderator: Jennifer Podmore Russell, Real Estate Advisory Leader, Deloitte Panel: Erin Gibault, Managing Partner, Headwater Projects Inc. |
11:30 AM |
CONCURRENT SESSIONS (Select B1, B2 or B3) |
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Session B1:RESIDENTIAL MARKET: IS THIS MARKET SUSTAINABLE?
The residential real estate market has been a hot topic for many Vancouverites for the past few years, and maybe more so today with continued uncertainty. What is the current story with the market; where has it been over the last 12 months and where is it headed? Will the Asian influence continue? Is it finally Vancouver's turn to slow down on condo growth and prices? How significant will interest rates continue to play a role in what happens with the market over the next 5 years? Hear from a panel of residential experts as they discuss trends and forecasts for 2012.
Moderator: Richard Weir, Vice President, Bosa Development Corporation Panel: Michael Ferreira, Managing Principal, Urban Analytics Inc. Session B2:THE CHANGING RETAIL MARKET IN VANCOUVER: FROM BRICK TO VIRTUAL
How are retailers performing in the current economy? With online shopping becoming more prevalent what is happening to the retail market today? How are these stores utilizing their current space to adapt to online sales? The panel will discuss current trends in retail, lease rates, the impact of U.S. retailers, trends in consumer buying as well as how online shopping impacts brick and mortar establishments.
Moderator: Michael Penalosa, Managing Principal, Thomas Consultants Inc. Panel: Bob Nicholson, Retail Asset Manager, Morguard Investments Limited Session B3:BUILDING A NEW DOWNTOWN WITHIN AN EXISTING CITY
Downtown Surrey is undergoing a significant transition in creating a new, exciting and thriving metropolitan centre. Slated to be the largest city in B.C. within the next decade, Surrey plans to develop a brand new downtown. Identified key projects moving forward in the building process include: the new Bing Thom City Centre Library – opened September 2011; Surrey City Hall; the RCMP Division E Provincial Headquarters; the Jim Pattison Day Surgery and Outpatient Centre – opened June 2011; the Surrey Memorial Hospital Expansion, and the SFU Expansion. Numerous developments from the private sector have also bought into the new vision for Downtown Surrey and are partnering in its transition. With numerous commercial and residential projects in the development stages and currently underway, the City landscape is changing dramatically. The shifting face of the old Whalley is creating new jobs and attracting new residents to the new Downtown Surrey. Coupled with an award winning Central City Mall, with great amenities, the investment economics are truly staggering.
Moderator: James Stewart, Partner, Hamilton, Duncan Armstrong Stewart Panel: Michael Cairns, Managing Partner, Blackwood Partners
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12:30 PM |
RECEPTION |
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LUNCHEON |
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1:15 PM |
Luncheon Keynote: WHAT LIES AHEAD FOR 2012 & 2013? |
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Speaker: Michael Campbell Biography: Michael Campbell is British Columbia's most respected business analyst. He is best known as the host of Canada's top rated business show – Money Talks – heard across the country on the Corus Radio Network. Each week Michael and his guests track financial trends in order to help listeners find ways to survive and thrive in today's tumultuous environment. Michael is also Senior Business Analyst for BCTV News on Global and a frequent contributor to the national Canada Tonight broadcast. He has also written extensively for a number of publications and is in high demand for interviews due to his outstanding track record, including calling the low on the Canadian dollar in December, 2002 and the high in November, 2007. Perhaps he is best known for his prescient warning in October, 2007 of the coming market decline. He is author of the National bestseller titled "Cooking the Books with Mike: Michael Campbell's Favourite 50 Recipes for Instant Financial Success." Trained in New York, he worked in the investment business for 10 years and has been a successful business owner. He says that making far too many amateurish investing mistakes and enduring the ups and downs of operating a business gives him an important perspective on the real world of business and economics. Michael is also very active as a volunteer in the community having been directly involved in a number of worthwhile causes. Currently he spends countless hours as Immediate Past Chairperson of the B.C. Special Olympics. |
2:00 PM |
CONCURRENT SESSIONS (Select C1, C2 or C3) |
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Session C1:BEING NOSTRADAMUS: HOW DEMOGRAHIC UPHEAVAL AND TECHNOLOGY WILL CHANGE THE REAL ESTATE DEVELOPMENT WORLD – LIKELY SOONER THAN YOU THINK
Today, anyone involved in the creation and sale of real estate spends a lot of time talking about demographics: about how people buying homes are very different than they were before. There is no question that the demographic make‐up of Vancouver, B.C and Canada will continue to change in even more radical and visible ways. At the same time, technology is significantly changing how people relate and communicate. What do these radical changes mean for the housing industry? What does it mean for any industry? This presentation will piece together a convincing argument for what things will look like tomorrow. This is essential knowledge for anyone involved in the business of building a city.
Speaker: David Allison, Co-Founder & President, Braun/Allison Inc.
Session C2:THE OUTLOOK FOR THE INDUSTRIAL REAL ESTATE MARKET
Over the last decade, the skyrocketing cost of land and construction put intense pressure on the ability of the market to deliver new industrial real estate at reasonable prices. But, following the last few years of slowing growth, the opportunity may present itself to re-evaluate this market. What will be the greatest sources of demand for industrial space going forward? How strong is investor interest, including owner-users, in this asset class? How much new industrial development is underway and what do we see over the next few years? What impact has infrastructure projects such as the South Perimeter Road had on the industrial market? Where do vacancy rates stand currently and what is the forecast for 2012-13? Has the softening economy over the last few years affected the price of land and the cost of construction or have prices started to rise again?
Moderator: Andrew Tong, Senior Vice President, Investments, Concert Properties Ltd. Panel: John Boer, Executive Vice President, Colliers International Session C3:WHY IS APARTMENT INVESTMENT ACTIVITY SO TIGHT? HAS THIS MARKET OUT-PERFORMED ALL OTHER REAL ESTATE ASSET CLASSES?
Many suggest that the staple of any well-diversified real estate portfolio today is still the multi-family market. Investor confidence in this sector continues to attract funds from a broad range of investors. CMHC mortgage insurance has had a significant ongoing impact on the cost and availability of debt capital for financing apartment properties. The predictable yields and strong cash flows continue to keep this sector as one of the most reliable of all the real estate asset classes. Why does this continue to be the case? How are occupancy rates in major markets across the country? Which cities are performing the best? Where are cap rates at this time and what direction are they likely to take in 2011? Is the condominium market in Toronto, Vancouver and other cities having a competitive impact on apartments by offering alternative rental units at very competitive rates or converting renters into homeowners?
Moderator: Robert Greer, Principal, Avison Young Canada Panel: Sandra Cawley, Principal, Burgess Cawley Sullivan
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2:50 PM |
AFTERNOON REFRESHMENTS |
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3:15 PM |
EXECUTIVE ROUNDTABLE DISCUSSION ON VANCOUVER: FINAL COMMENTS ON THE RISKS, TRENDS, CHALLENGES, AND OPPORTUNITIES FOR THE NEXT 12-24 MONTHS |
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Summarizing the broad range of issues raised during today's conference and current global economic challenges, a panel of well-respected senior real estate executives will share their final insights and perspectives on what they believe are the most critical issues and market trends facing their business plans and the industry in general over the next year. This panel will provide the last word on the Canadian, and specifically Vancouver, real estate market for 2012.
Moderator: Brian McCauley, President & Chief Operating Officer, Concert Properties Ltd. Panel: Eric Carlson, CEO, Anthem Properties |
4:10 PM |
CLOSING COMMENTS |
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4:15 PM |
CHAIRMAN'S RECEPTION |
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