2017 Program

7:00 AM
REGISTRATION & CONTINENTAL BREAKFAST

Registration Sponsored By

Continental Breakfast Sponsored By


7:55 AM
OPENING REMARKS: PROGRAM OVERVIEW

Patti Walsh

Introduction of the Forum Chair:
Patti Walsh, 2017 Edmonton CREW President

Tom Redl

Forum Chair:
Tom Redl, President & CEO, CHANDOS Construction Ltd.


8:00 AM
ECONOMIC OUTLOOK FOR ALBERTA AND WESTERN CANADA

It was no secret that 2016 was a challenging year with oil falling as low as $30 a barrel and a declining dollar. Alberta is underperforming the rest of the country with a national unemployment rate that is slowly declining from 7% and a GDP forecast well below 2%. Where is Alberta trending and have we reached rock bottom? Is this likely to continue? What is the latest outlook for this part of the country going forward?

Todd Hirsch

Speaker:
Todd Hirsch, Chief Economist, ATB Financial


8:25 AM
THE YEAR AHEAD: ECONOMIC OUTLOOK FOR EDMONTON AND SURROUNDING REGION

How does Edmonton stack up against the rest of Canada when it comes to the economic forecast of the region? How does Edmonton stack up against Calgary? What are emerging trends for the capital region, and what aspects of the economy are producing strong results? Where do they stand at this time, and do certain economic engines have greater growth than others?

John Rose

Speaker:
John Rose, Chief Economist, City of Edmonton


8:55 AM
THE FLY-OVER ZONE MYTH: INVESTING IN EDMONTON

Alberta used to be the fastest growing economy in the country, but with the decline in the price of oil and the cheaper dollar means it’s steadily slipped from #1. What’s driving the Edmonton region economy? What is fueling the development in the city? Is there low hanging fruit ripe for the picking? Where are the opportunities and the risks? What unique challenges do communities outside the capital region face? Is now the time to invest in Northern Alberta? Are outside investors taking advantage? Who are the major players? Will the activity continue over the next 2 years?

David Dale-Johnson

Micheal Dal Bello

Blair Welch

Dave Young

Moderator:
David Dale-Johnson, Stan Melton Executive Professor, Real Estate, Alberta School of Business

Panel:
Micheal Dal Bello, Senior Vice President, Real Estate, AIMco
Blair Welch, Partner & Co-Founder, Slate Asset Management
Dave Young, Executive Vice President, Managing Director, CBRE Limited


10:05 AM
MORNING REFRESHMENTS

10:25 AM
CONCURRENT SESSIONS (Select A1, A2 or A3)
SESSION A1:
ONE SIZE DOES NOT FIT ALL: A LOOK AT THE INDUSTRIAL MARKET

It’s no secret that the uncertainty of the economic climate has been felt across all segments of the real estate market, however one could argue that the industrial market has been hit the hardest due to its close ties with oil sector. There has been a mix of up and down movements in certain submarkets as areas such as the Nisku/Leduc have seen a dramatic jump in vacancy rates, and others such as the Northeast sector have shown positive momentum quarter-over-quarter. This panel will look at the challenges and opportunities that exist within this market. Is this the “new norm”? What effects do construction costs, and the devastating fire in Fort McMurray have on the industrial market? In terms of transportation, how has the recently completed ring road impacted the industrial sector for access to distribution, warehousing and logistics?

Grant Ranslam

Brad Hoffman

Andy Horvath

David Kent

Alistair Pickering

Moderator:
Grant Ranslam, Principal, Avison Young

Panel:
Brad Hoffman, Vice President, Panattoni Development Company
Andy Horvath, Partner, Cushman & Wakefield Edmonton
David Kent, President & CEO, Nearctic Property Group
Alistair Pickering, Vice President, Industrial, Oxford Properties Group


SESSION A2:
DEBT MARKET OUTLOOK FOR PRIMARY SOURCES, SPREADS, COST AND AVAILABILITY FOR REMAINDER OF 2017: WHAT IS THE LEVEL OF RISK?

This discussion will examine the availability of public and private debt and equity as well as forecast what the second half of 2017 looks like. Are there emerging risks? What can be expected over the coming year with respect to the cost, availability and sources of capital? Will lenders be more or less aggressive in 2017 & 2018? What is their tolerance for risk in this market? How do a broad range of different lenders view Alberta in general, and Edmonton in particular? What are their risk management strategies and underwriting criteria? Of those doing investing in the region, what is their motivation? What information is required from a valuation by management, purchasers, vendors, shareholders, lenders, and the capital markets?

Melanie Ducholke

Geoff Coombe

Michael Hoffman

Jeevan Khunkhun

Alex Rukin

Moderator:
Melanie Ducholke, CFO, Camgill Development Corporation

Panel:
Geoff Coombe, Assistant Vice President, Commercial Mortgages, Prairies, Manulife Financial
Michael Hoffman, Managing Director, ATB Financial Services
Jeevan Khunkhun, President, CareVest Capital Inc.
Alex Rukin, Vice President, TD Bank


SESSION A3:
CHANGING THE FACE OF EDMONTON, ONE DEVELOPMENT AT A TIME

According the Edmonton Journal, the downtown core is still the city’s development hot spot with $5.5 billion worth of work proposed or underway. Looking towards the Ice District’s 66-storey Stantec Tower, the Century Park developments, the Royal Alberta Museum and the West Block, it is clear that the Edmonton landscape will continue to grow and change. This session will examine the range of development activity, what are the underlying fundamentals supporting these projects, and property classes that are experiencing the greatest amount of interest. What factors are developers contending with? What is the range of development activity that developers are seeing? Why are developers continuing to move forward in this market?

Brandon Kot

Raj Dhunna

Alim Kassam

Kevin McKee

Robert Walker

Moderator:
Brandon Kot, Managing Partner, Canada ICI

Panel:
Raj Dhunna, Chief Operating Officer, Regency Developments
Alim Kassam, Vice President, Finance Real Estate, Katz Group Real Estate
Kevin McKee, President, Pangman Development Corporation
Robert Walker, CEO, Tangent Project Management Ltd.


11:25 AM
CONCURRENT SESSIONS (Select B1, B2 or B3)
SESSION B1:
WHAT ARE ENTREPRENEURS DOING TO SUCCEED IN A WAVE OF UNCERTAINTY?

Entrepreneurs are experienced at looking at assets and finding opportunities and they often have the ability to see value and reward where many others do not. Are they thriving or surviving in today’s economy? 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? Given the present environment in the Canadian economy and real estate market, how do they see investment opportunities unfolding in the future?

Nicole Osolinsky

Ivan Beljan

John Day

Chris Lumb

Ron Mosher

Moderator:
Nicole Osolinsky, Tax Partner, KPMG

Panel:
Ivan Beljan, Visioneer, Beljan Developments
John Day, President, John Day Developments
Chris Lumb, CEO, TEC Edmonton
Ron Mosher, President, Greystone Property Management Corp.


SESSION B2:
STAYING COMPETITIVE IN A CHALLENGING EDMONTON OFFICE MARKET: FROM NEW DEVELOPMENTS TO REPURPOSING EXISTING BUILDINGS

How is the office market in Edmonton doing? Depending on who you ask, you may get opposing views. With the addition of the Enbridge Centre (formerly Kelly Ramsey Tower), Edmonton and Stantec Towers coming into the market fully leased, it can be said that the downtown office market in Edmonton is thriving. However, with tenant migration coming into play, older B and C class buildings are seeing higher vacancy rates, as tenants jump ship to these new office buildings. Are B and C class building owners upping their game? Are tenants demanding more from landlords? Is there a flight to quality taking place, or are people staying put as they ride out the recession? How is tenant migration impacting vacancy rates? How is shadow vacancy effecting the market? What does the panel predict will happen to Edmonton’s office market in the coming 12-20 months? Where are they placing their bets?

Karnie Vertz

Rob Blackwell

Phil Goh

Jonas Locke

Phil Milroy

Chris Nasim

Moderator:
Karnie Vertz, Principal, Office Leasing, Avison Young

Panel:
Rob Blackwell, Senior Vice President, Investments & Asset Management, Aspen Properties
Phil Goh, Senior Vice President, Office, Colliers International
Jonas Locke, Vice President, Western Canada, Altus Group
Phil Milroy, President & CEO, Westcorp
Chris Nasim, Vice President, Asset Management, GWL Realty Advisors


SESSION B3:
A HOP, SKIP AND A JUMP AWAY: WHAT IS ON THE HORIZON FOR NEIGHBOURING MUNICIPALITIES?
Shifting the focus from Edmonton to the surrounding cities and municipalities is vital in understanding the pulse of the region. Looking at Fort Saskatchewan alone, approximately 117,000 square feet in new commercial space has opened or is under construction across four project classes. What other developments are on the horizon for the surrounding areas such as Leduc, St. Albert, Spruce Grove and Fort Saskatchewan? What can be expected from new communities such as Woodbend, and industrial developments such as Spruce Grove’s Industrial Park? How are they weathering the economic storm? What development can be expected in the near future? What can be expected in the retail, commercial, industrial and residential market segments in neighbouring municipalities?

Daniel Eggert

Jason Fjeldheim

Kendal Harazny

Mike Saunders

Moderator:
Daniel Eggert, Division Manager, Melcor Developments Ltd.

Panel:
Jason Fjeldheim, President, TAG Develoments
Kendal Harazny, Principal, Wexford Developments
Mike Saunders, Vice President, Development, Qualico Commercial


12:15 PM
RECEPTION AND LUNCHEON

Pre-Luncheon Reception Sponsored By

Luncheon Sponsored By


12:45 PM
KEYNOTE SPEAKERS
GROWTH, DEVELOPMENT AND INFRASTRUCTURE: WHERE IS EDMONTON HEADING?
One of the key elements underlying the scale and intensity of the urban growth and development are the policies of municipalities, provincial and federal government. This session will examine the evolution of Edmonton and the growth management policies it is pursuing. How is Edmonton likely to evolve over the next decade? What do building owners, investors and developers need to understand?

Don Iveson

Speaker:
Don Iveson, Mayor, City of Edmonton

Cory Wosnack

In Conversation with:
Cory Wosnack, Principal & Managing Director, Avison Young


2:00 PM
CONCURRENT SESSIONS (Select C1, C2 or C3)
SESSION C1:
UNDER THE MICROSCOPE: A LOOK AT SOME OF EDMONTON’S BIGGEST DEVELOPMENTS & FUTURE INITIATIVES

The revitalization of Edmonton began a few years back, where drastic changes began to unfold to landscape of Downtown Edmonton. Taking a closer look at some of the items Mayor Iveson covered, this session will drill into some of Edmonton’s most recent developments. With buildings under construction including new office towers and new business hotels among other projects, Edmonton seems to have been somewhat protected from the challenging parts of Alberta. Developments like the Ice District have taken off, and are beginning to transform the region. How have these developments impacted the city? What can be expected from the transit systems, Public Plaza and the Stantec Tower? What other initiatives are on the horizon that will be coming to Edmonton over the coming years?

Cheryll Watson

Chris Dulaba

Lee Kiziak

Ian O’Donnell

Moderator:
Cheryll Watson, Vice President, Urban Economy, Edmonton Economic Development Corporation

Panel:
Chris Dulaba, Placemaker, Beljan Development Corporation
Lee Kiziak, Corporate Real Estate Manager, Stantec Consulting Services Inc.
Ian O’Donnell, Executive Director, Downtown Business Association of Edmonton


SESSION C2:
WHAT LIES AHEAD FOR THE MULTI-FAMILY MARKET: IS CONDOMINIUM DEVELOPMENT & PURPOSE BUILT RENTAL STILL CONTINUING?

As pressure from the weak economy continues, Edmonton has seen a decline in property values across most market segments. With developments such as West Block on the horizon for 2017, is there still money to be made in condominiums? With the unemployment rate in Alberta showing signs of stabilization and net migration trends beginning to deteriorate, what can we expect from purpose-built apartment construction? Is multi-family rental the best residential bet in this market? What are the major holdbacks for investors? Is the investment risk into rental properties worth the payback? With the own vs. buy conundrum, what do the next generation of homeowners want? Which solution best addresses the region’s demographics predictions for the next 5-10 years?

Paul Chaput

Jonathan Chia

Rohit Gupta

Jaime McKenna

Brent Weimer

Moderator:
Paul Chaput, Senior Vice President, CBRE Limited

Panel:
Jonathan Chia, President & CEO, Maclab Properties Group
Rohit Gupta, President, Rohit Group of Companies
Jaime McKenna, Senior Vice President, Finance and Investments, Minto Properties
Brent Weimer, Principal, Market Analysis, Canada Mortgage and Housing Corporation


SESSION C3:
WHY ARE NEW RETAIL DEVELOPMENTS & NEW TENANTS COMING INTO THE EDMONTON MARKET IF THE ECONOMY IS NO GOOD?
Edmonton’s economy has continued to show some resilience, as the rest of the province continues to adjust to lower oil prices. During a time when discretionary spending is typically pushed aside, Edmonton continues to sit well above the national average. With four major enclosed malls expected to undergo construction this year, Edmonton’s retail market is continuing to evolve. The introduction of Saks Off Fifth, and the anticipated opening of a second Simons department store shows a shift away from mid-priced retailers. What is drawing and keeping high-end retailers in the city? How are external factors such as carbon tax and minimum wage impacting the retail market in Edmonton? Why has fashion, food & beverage, professional service and automotive been so successful? What makes the region so appealing? What other major players are coming into the city? What are trigger points for staying in the market?

Eric Slatter

Taylor Inglis

Robert Mulvale

Darren Quayle

Angela Stinson

Moderator:
Eric Slatter, Partner, Omada Commercial

Panel:
Taylor Inglis, Director, Commercial Real Estate, Edmonton International Airport
Robert Mulvale, Vice President, Retail Leasing, ONE Properties
Darren Quayle, Vice President, Retail Services, Oberfeld Snowcap
Angela Stinson, Director of Store Development, La Maison Simons


2:55 PM
AFTERNOON REFRESHMENTS

3:15 PM
CLOSING PANEL
VIEWS FROM THE C-SUITE: PREDICTIONS FROM A FEW OF EDMONTON’S TOP EXECUTIVES
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 also take you on a ride of the real estate sector in Edmonton over the last 20 years and provide some commentary on what may be coming for the next 20 years.

Tom Redl

Bill Blais

Michael Hungerford

Darin Rayburn

George Schluessel

Moderator:
Tom Redl
, President & CEO, CHANDOS Construction Ltd.

Panel:
Bill Blais, President & CEO, Maclab Development Group
Michael Hungerford, Partner, Hungerford Properties
Darin Rayburn, President & CEO, Melcor Developments, Trustee, Melcor REIT
George Schluessel, President & CEO, ProCura


4:10 PM
CLOSING COMMENTS

4:15 PM
CHAIR’S RECEPTION