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Introduction of the Chair:
Jeff Funtasz, Regional Vice President, Prairies, FCT
Arthur Lloyd, Executive Vice President, Office – North America, Ivanhoé Cambridge
This presentation will review recent economic developments around the world, including China, U.S. and Canada, honing in on employment, GDP growth, interest rates, inflation and real estate conditions. The presentation will discuss what can be expected over the coming years in the context of Canada and Alberta.
Pierre Cléroux, Vice President, Research and Chief Economist, BDC
This presentation will address the outlook for the energy sector, provide insights into the energy markets over the last year and provide predictions on how it is expected to perform over the next 6-8 months.
Andrew MacNiven, Managing Director, RBC Capital Markets
A permanent bear market in oil should not leave Wildrose Country mired in muddle. Prosperity has to be found elsewhere. The province previously put aside large sums of money for a ‘rainy day’, principally in bio-medical R&D. This presentation will explore the importance of a diversified economy and will look at if the province is finally ready to tap into the manufacture of generic, off-patent drugs.
Heather Douglas, President, CEO Platinum Roundtable
It’s no secret that investment activity in Calgary has been slow. While some retail and industrial product has moved at surprisingly good prices, office product volume is almost zero. In addition, construction costs are expected to increase and there is virtually no construction financing taking place. Are there lenders still active in this market? What are developers doing to raise cash? How much is investment costing? Who is doing the lending? When is it expected to come back? Are there opportunities? Of those doing investing in the region, what’s their motivation?
Graham Garner, CFO, Strategic Group
Steven Hart, Managing Director, CMLS Financial
Michael Hoffman, Senior Director, ATB Financial
Doug Milne, Managing Partner, Calgary, Canada ICI
Derek Wasson, Vice President, Trez Capital
Despite a sluggish economy, the retail market in Calgary remains one of the strongest in Canada, but is the other shoe about to drop? This panel will review the major components impacting the retail industry and debate whether they think Calgary will remain above the national average, or whether it’s all about to change. This panel will focus on: the lack of employment growth in the region and its potential impact on retail sales; the convergence of traditional bricks and mortar with online retail; the potential provincial tax; the growth of high-end retailers and service-oriented businesses. How are these trends unique to Calgary? Are suburban retail markets being impacted by job losses inthe region? How does the luxury market influence these trends and the way consumers shop? How are retailers dealing with a sluggish economy? What types of services are thriving? What categories are struggling? Are these trends game changers or is this just part of the ongoing evolution of the market? Who is leading the way in each trend?
Darryl Schmidt, Vice President, National Leasing, The Cadillac Fairview Corporation Limited
Michel Avigliano, Vice President, Retail, Hopewell Development
Colin Peter, Assistant Vice President, Retail Leasing, Western Canada, RioCan REIT
Stefan Savelli, Senior Vice President, Retail, ONE Properties
Doug Stone, Vice President, Facilities Development and Real Estate, Calgary Co-Op
With the recent promise of over $700 million in federal funding for provincial infrastructure projects and city plans for $22 billion planned over the next 4 years, there are a significant number of infrastructure projects moving ahead including transit, wastewater, roads and schools. How will the new Green Line impact multi-family and mixed-use developments over the next 8-10 years? Will the new Stoney Trail ring road improve accessibility to industrial sites? What does the new Crowchild plan look like and what are the expected benefits?
Bob MacDougall, Senior Managing Director, Cushman & Wakefield
Josh Kaufman, Senior Vice President, Retail and Commercial Development, Dream Centres
Mac Logan, General Manager of Transportation, City of Calgary
Bruce Nelligan, President, Watt Consulting Group
Millennials want to work, play and live downtown. Baby Boomers want access to public transportation, restaurants, theatre and cultural activities. Over the past few years there has been a shift towards the Beltline for both condominium owners and renters. What shifts in demographics are reflected in this neighbourhood? What impact will the activity in this area have on the CBD? How is investment in the Beltline impacting commercial and residential real estate? What are the City’s plans for development and densification in and around the core? This session will provide an update on plans for the fringe of the downtown, who the players are, the full extent of current and projected activity and what’s likely going to happen to the CP Rail Line.
Matthew Boukall, Senior Director, Residential Products, Altus Group
Vince Dods, Partner, Gibbs Gage Architects
Sam Gordon, Principal, Wexford Developments
Eileen Stan, Vice President Development, Matco Development Corp.
Rollin Stanley, General Manager, Urban Strategy, City of Calgary
Drone delivered pizzas. Robotics in warehouses. Artificial intelligence. All of these technologies are no longer an idea from a futuristic movie but a reality. This panel will take a look at some of these technologies as well as others that are impacting the management of goods. How will the logistics industry manage the increase in online shopping? Are industrial buildings being designed and built with the consideration of these technologies in mind? Which groups of users are leading the way when it comes to how the discussed technologies are being employed in warehouse spaces?
Peter Hurme, Editor, Cargo Logistics
Paul Derksen, Associate Vice President, Black Watch Property Ltd.
Chris Steele, Chief Operating Officer, Investment Consulting Associates
Duncan Stewart, Director of Technology, Media and Telecommunications Research, Deloitte Canada
A unique face-off between three leading commercial brokers and a cross-section of local and national investors. The brokers will present office, retail, industrial and multi-family assets for sale and briefly examine some of the benchmark transactions in Calgary over the past twelve months. The investors will react and comment on the properties for sale. To what extent do they have an interest? What cap rates and valuation will they apply to each asset and property class? How will the cost of capital range from private equity funds to REITs to institutional investors? The last portion of the session will examine their perspective on real estate market fundamentals for 2017 and beyond for the Calgary market and Canada as a whole. They will offer their insights on what they see occurring over the next twelve months, and their strategic thinking going forward. Among the other questions to be examined:
Rosanne Hill Blaisdell
Larry Kwinter, Counsel, Borden Ladner Gervais LLP
Michael Golightly, Vice President, Partner, Colliers International
Duncan MacLean, Senior Vice President, CBRE Limited
Walsh Mannas, Vice President, Avison Young
Rosanne Hill Blaisdell, Managing Director & Vice President, Leasing, Harvard Developments Inc.
Rob Kumer, Partner, Co-Head, Investments, KingSett Capital
Stephen Taylor, Vice President, Real Estate, HOOPP
October will mark nearly 6 months since the devastating fires in Fort McMurray. Is there a sense of how the community intends to rebuild? What support will the region require from the province and federal government? How much impact have the oil sands felt with the lack of a workforce? Who will lead the charge and what is their vision? This session will take a holistic view at the rebuilding of this community, and examine what progress is being made and how stakeholders and developers are working with the community. The panel will also consider some of the lessons learned after the Calgary floods and look specifically at the successes experienced in High River.
Mayor Craig Snodgrass
Tim Gensey, Market Analyst, Canada Mortgage & Housing Corporation
David Schoonjans, President, AXIOM Cost Consulting Inc.
Mayor Craig Snodgrass, Town of High River
William Adams, Vice President, Western and Pacific Region, Insurance Bureau of Canada
Rohit Gupta, President, Rohit Group of Companies
The market outlook for purpose-built apartments in Calgary has been predicted slower than in previous years, but don’t rule them out. Predictable yields and strong cash flow make apartments one of the most reliable property classes. What does the development landscape look like? A slow in development for single-family homes has signaled an increase in development for multi-family residential buildings in Calgary and the surrounding area. While vacancy rates remain high, developments in areas like the Southeast and the Beltline continue to see strong demand. Is multi-family rental the best residential bet in this market? What are the major holdbacks for investors? What does the next generation of homeowners want? How has the buyer changed in the last 5 years? This session will provide an update on the multi-family market and will tap into the issues, challenges and benefits being felt across this segment.
Harvey Russell, Vice President, CBRE Limited
Richard Cho, Principal, Market Analysis, Canada Mortage & Housing Corporation
Todd Cook, President & CEO, Northview Apartment REIT
Alex Ferguson, President, GableCraft Homes
Riaz Mamdani, CEO, Strategic Group
Reception Sponsored By
Luncheon Sponsored By
BOOMERENNIALS: DEMOGRAPHICS DON’T TELL THE STORY. PEOPLE DO.
David Allison, a Baby Boomer, and Eric Termuende, a Millennial, are both accomplished speakers with impressive corporate credentials. They are appearing on stage together for the first time as The Boomerennials. Their message shakes the foundations of one of the core beliefs of the business world. That demographics are an outdated tool to use for planning, designing, and marketing anything from real estate to radishes. There was a time when people acted their age. They went to school, graduated, met someone, had kids, climbed the corporate ladder, and after the kids left home, they retired and downsized. But at a time when 70 is the new 50, and Boomers are skateboarding to work, basing decisions on outmoded ideas about age-based consumer behaviour is incredibly unreliable. Based on research (their own and others’) they will walk you through how the trusted principles of demographics make no sense in contemporary culture. So what does make sense? The Boomerennials have the answer. Find out what it is, and how it can disrupt and transform your company and your career, and maybe even the world around you.
David Allison, Principal Advisor, David Allison Inc.
Eric Termuende, Founder, DRYVER Group
The last time office vacancy in Calgary was this low it was 1983. With vacancy rates well over 20% in the downtown core and nearly 4 million square feet coming online in the next year, some are suggesting it could be 10 years before the market settles down. But what happens if the city is successful in attracting new industries to the region? What happens if oil goes up to $80 in the next 24 months? How will the global economy impact absorption? What other factors could dramatically change the game in Calgary? This session will provide an overview of the Calgary office market over the last 12 months, as well as discuss a series of likely and less likely scenarios that could impact how this market recovers in the coming years. Following the presentation, seasoned Calgary real estate executives will discuss how the city has changed and where they think it will go next.
Fraser Dyer, Director & General Manager, Research, Valuation & Advisory, Altus Group Limited
Randy Fennessey, President, Colliers International Calgary
Scott Hutcheson, Executive Chairman, Aspen Properties
Although Edmonton and Calgary are only 300 kms apart the markets in these cities are performing very differently under the current economic climate. How is Edmonton’s economy more diverse and what impact has this had on the region’s reaction to the price of oil? What impact is net-migration having on each market? Is the retail sector as strong in Edmonton as it is in Calgary? Why has Calgary been more successful in attracting distribution centres in its industrial area? Are the cities expected to grow at similar rates over the coming 12-18 months? Does one size fits all when it comes to how these markets are perceived outside the province?
Greg Guatto, President & CEO, Aspen Properties
Craig Dickie, President, Walton Development and Management LP
Deana Haley, Vice President, Business Development & Workforce Innovation, Calgary Economic Development
Glen Scott, Senior Vice President, Real Estate, Katz Group
Cory Wosnack, Principal, Avison Young
Entrepreneurs are experienced at looking for innovation and accessing lower priced capital. While they do not dismiss risk, they often have the ability to see value and reward where many others do not. How do they source debt and equity capital? What are some examples of how they would consider structuring their deals? What niches do they strategically focus on to find the highest potential value opportunities that will provide quality returns? What have been the most significant challenges that they have had to endure? What opportunities do they see unfolding now and in the future? Are they thriving or just surviving in today’s economy?
Bernie Bayer, Senior Partner, Taurus Property Group
Frank Lonardelli, CEO, Arlington Street Investments
Peter Paauw, President, Slokker Canada West
John Torode, President, Torode Realty Advisors
Lance Trumble, Managing Director, Tribal Partners
While Calgary and Alberta have enjoyed significant wealth from the abundance of natural resources, some are suggesting that it’s time to start investing in diversifying the economy. At the same time, others are suggesting that there’s no need to diversify, but rethink how the province and cities manage natural and human resources. This session will take look at both of sides of the debate and discuss the pros and cons. Should government work to create a more diversified economy in the region? Or should there be a focus on existing economic drivers? What role can and should the real estate industry play? How could a diversified economy impact the real estate industry?
Randy Ferguson, Chief Operating Officer, Strategic Group
Jyoti Gondek, Director, Westman Centre for Real Estate Studies, Haskayne School of Business
Thom Mahler, Manager, Urban Strategy, The City of Calgary
Evan Woolley, Councillor, Ward 8, The City of Calgary
HOW DO MAJOR INVESTORS ASSESS THE RISKS, CHALLENGES, STRATEGIES AND OPPORTUNITIES FOR 2017 AND BEYOND?
A roundtable discussion with senior real estate executives as they provide their perspective on real estate market fundamentals for 2017 and beyond for the Calgary market and Canada as a whole. They will offer their insights on what they see occurring over the next twelve months, and their strategic thinking going forward. What are the most significant challenges, trends, risks and opportunities for investors and owners in the Calgary market? What can be expected with respect to investment velocity and deal flow? What asset classes and transactions will likely offer the best possible returns in 2017? How much, if any, growth do they anticipate in the Calgary market? If they were to take a gamble where would they place their bets? What trends do they see developing in real estate? Who do they turn to as they plan for the future? What needs to happen in order for Calgary to be back on top?
Arthur Lloyd, Executive Vice President, Office – North America, Ivanhoé Cambridge
Philip Fraser, President & CEO, Killam Apartment REIT
Randy Remington, Chairman, Remington Development Corporation
Jonathan Wener, Chairman & CEO, Canderel Group of Companies
Paul Zemla, Chief Investment Officer, Bentall Kennedy (Canada) LP