CONCURRENT SESSIONS (Select C1, C2 or C3)
OPPORTUNITIES AND KEY DYNAMICS IN EDMONTON’S INDUSTRIAL MARKET: WHERE IS IT HEADING?
As of the end of 2019, the Edmonton industrial market’s overall vacancy rate was 7%. While oil and gas manufacturers continue to sit on the sidelines, maintenance and service companies have expanded in Edmonton. There is activity on the development side where currently 2.9M sq. ft. is under construction. Apex Business Park, Monarch Business Park and Discovery Business Park are three examples that are expected to be completed this year and 2021 respectively. To what extent are new projects locating in the RMs that surround Edmonton due to lower costs and quicker planning approvals? How is the industrial real estate market performing overall? Is there a flight to quality? How are the design and requirements of new industrial space changing? How much speculative building is occurring in this market?
Andy Horvath, Partner, Industrial, Cushman & Wakefield Edmonton
Kris Augustson, Vice President, Leasing & Land Sales, Remington Development Corporation
Kimberley Hill, Vice President, Asset Management, Summit Industrial Income REIT
Brad Hoffman, Executive Vice President, Western Canada, Panattoni Development Company
Bronwyn Scrivens, Associate, Industrial Sales & Leasing, Omada Commercial
Matthew Woolsey, President, York Realty Inc.
WHAT ARE ENTREPRENEURS DOING TO SUCCEED IN EDMONTON’S COMPETITIVE AND CHALLENGING ENVIRONMENT?
Given the strong investor sentiment in the Canadian market, many opportunities have emerged for entrepreneurialism in the real estate industry. In Edmonton, who are some of them and what are they doing? They are often privately-owned firms, 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. From repurposing older buildings to infill development in vacant spaces, their strategy often requires some creative thinking. What have been some of the most significant challenges that they have faced? How did they successfully overcome them?
Eric Slatter, Partner, Omada Commercial
John Day, President, John Day Developments
Darren Durstling, President & CEO, ONE Properties
Henry Edgar, Partner, Edgar Development Corp.
Alan Mackenzie, Chief Executive Officer, Canada, JLL
THE EVOLUTION OF EDMONTON’S PLANNING & DEVELOPMENT PROCESS: IS THIS CITY AHEAD OF THE CURVE COMPARED WITH OTHER GATEWAY MARKETS?
In 2010, the City of Edmonton adopted a new Municipal Development Plan (MDP) called The Way We Grow and established a goal of achieving 25% of its future growth in core and mature neighbourhoods, and around LRT stations and transit centres. This objective is now moving towards a 50% target to accommodate the needs of a growing population without creating excessive new infrastructure demand. How is the MDP assisting in decision-making and development in the city? What other initiatives and policies have been put in place to facilitate new development and intensification and meet Edmonton’s future growth? This panel will explore the progress that the city is making to assist the ongoing expansion of Alberta’s capital region.
Andrew Usenik, Partner, Strata Development Corp.
Stephanie McCabe, Deputy City Manager, Urban Form & Corporate Strategic Development, City of Edmonton
Kevin McKee, Chief Executive Officer, Pangman Development Corporation
Farhad Mortezaee, Principal, FarMor Architecture
Mike Saunders, Vice President, Development, Qualico Commercial