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Dave Cordick, President, BOMA Ottawa
Anthony Broccolini, Chief Operating Officer, Broccolini Construction
How are the major economic fundamentals performing at this time in the Ottawa market? What impact is the annual population increase of 15,000 having on the Ottawa economy? What is the outlook for economic and employment growth in this region over the next fifteen months? How do the prospects for Ottawa compare with other major Canadian cities? When one examines the most significant fundamentals, what is the outlook for the key engines of the Ottawa economy and its housing market?
Pedro Antunes, Deputy Chief Economist, The Conference Board of Canada
How much leasing and investment momentum did the Ottawa market experience in 2015 and in the first half of 2016? What is the outlook for the remainder of this year and beyond for the office, retail, industrial and multi-unit residential asset classes? How do the market fundamentals look at this time including vacancy rates, absorption rates, and cap rates?
Sandy McNair, Data Curator, Altus Data Solutions
Julianne Wright, Director & General Manager, RVA, Altus Group please contact for futher Information: email@example.com
A detailed examination and insights on some of the notable leasing and investment deals in the apartment, industrial, office, retail and land markets in the Ottawa region during the past twelve months.
Sandy McNair, Data Curator, Altus Data Solutions
Aik Aliferis, CEO & Founding Partner, Primecorp Group of Companies
Nathan Smith, Senior Vice President, Capital Markets Group, Cushman & Wakefield Ottawa
Nico Zentil, Vice President, CBRE Limited
What space does the federal government currently occupy in Ottawa and Gatineau? What new developments are proposed or underway and what is their status? What changes are on the forefront with respect to federal government space occupancy requirements across the National Capital Region? Workplace 2.0 was the elephant in the room over the past 5 to 7 years. What have been the results of its implementation? How are plans for Workplace 3.0 proceeding? What trends in PSPC’s portfolio are we likely to see in 2017 and going forward?
Kevin Radford, Assistant Deputy Minister of Real Property Services, Public Services & Procurement Canada
In April 2016, the Department of National Defence centralized the management of its infrastructure portfolio under a single real property manager – the Infrastructure and Environment Branch. Valued at over $26 billion, the Defence portfolio is the largest and most complex in the federal government, with assets ranging from buildings and works, to training ranges and ammunition bunkers, to jetties, ports and airfields at bases and wings across the country. National Defence and the Canadian Armed Forces make up the largest federal government department with a truly unique organizational culture where military members work alongside civilians. This presentation will offer an overview of the Defence real property portfolio and its recent centralization process, as well as the capital repair and operations and maintenance programs. It will also outline how the Department continues to partner with the private sector to invest in Defence infrastructure and create an affordable and sustainable portfolio that meets the needs of the Canadian Armed Forces.
Anne Morton, Senior Director, Infrastructure and Environment Group, Department of National Defence
The National Capital Commission (NCC) and its predecessors have, for over 100 years, been charged with the responsibility to serve as the long-term planner and proactive steward of vital public spaces in Canada’s Capital Region. Looking ahead, the next few years will be a pivotal time for the NCC and the Capital Region, as its landscape is evolving, with many large-scale construction and infrastructure projects under way. This presentation will examine the three strategies and the six aligned priorities that will guide the corporation’s efforts including the redevelopment of LeBreton Flats and the Chaudières and Albert islands. A brief update will be provided on the process related to these iconic projects. LeBreton Flats, for example, will eventually be a 30 year long redevelopment that will include 4,400 residential units, 2.8 million square feet of retail and office space and many public, cultural and entertainment elements.
Mark Kristmanson, Chief Executive Officer, The National Capital Commission
Some 60% of the Ottawa office market is outside the downtown core. The session will examine these submarkets. With its high concentration of high technology tenancies, Kanata appears to have finally shrugged off the effects of sluggish leasing conditions. What is the status of DND’s move of 8,500 of its employees to the former Nortel campus? However, vacancies have increased over the past twelve months in most other submarkets – in some cases to levels twice as high as one year ago. Some of this is due to the continuation of the federal government vacating space along with the challenge of finding new occupants. What will generate the growth to fill some of this space in the west, south and east ends?
Oliver Kershaw, Principal, Avison & Young
As Ottawa continues to evolve into a metropolitan area with a population of over one million, the City recently completed a comprehensive Employment Land Review that addresses key issues facing the municipality in its planning for economic and employment growth. The study is integral to the final adoption of the City’s stalled comprehensive Official Plan review (OPA 150) and how it deals with its designated Employment Land. This session examines what it means for the City’s future economic and employment goals, reveals how much Employment Land is needed to meet future growth, and identifies the policy and land use changes recommended to meet future employment goals. The discussion will be important to understand one of the key factors that will impact how development activity will likely be able to proceed in this market.
Moderator & Speaker:
Ted Fobert, Founding Partner, FOTENN Consultants Inc.
Cal Kirkpatrick, Director, Colonnade BridgePort
Russell Mathew, Partner, Hemson Consulting Ltd.
John Smit, Manager, Policy Development & Urban Design, City of Ottawa
No other real estate property class attracts as much attention as retail. In recent years, international retailers like Nordstrom, Saks, and others have been circling Canada and opening stores. Online shopping is having implications for traditional retail formats. There are also concerns about tapped out consumers and the closure of national chains like Target, Future Shop, and Blacks. Closer to home, three of four regional centres in Ottawa have been expanded and renewed including the $360M revitalization of the CF Rideau Centre. Add to this is the transformation of Lansdowne Park, the new Tanger discount outlet centre and other developments across the inner city. In total, over 1.5M sq.ft. of retail space has been added to the inventory over the past two years. What is driving all of this activity? How are landlords and retailers responding to the transformational trends in the market? How do you meet the needs of understored areas of the City and outlying communities like Barrhaven? How is the transition working from pure retail to mixed-use and multi-residential? What impact will the LRT have on future retail growth along with other inner city sites?
Richard Getz, Vice President, Retail, Colonnade Bridgeport Realty Inc., Brokerage.
Brad Caco, Senior Vice President, Development & Design, Trinity Development Group Inc.
Stuart Craig, Vice President, Planning & Development, RioCan Management Inc.
Cindy VanBuskirk, General Manager, CF Rideau Centre
Sir Terry Matthews is the founder and Chairman of Wesley Clover International, an investment management firm and holding company with active interests in information and communications technologies, real estate, leisure properties and philanthropic activities.
This session will examine the current state of the downtown Ottawa office market and what some of the future prospects are for this property class. To what extent is the public sector demand being reduced by office relocations (e.g. DND to the Carling Campus) and the impact of Workplace 2.0 and potentially 3.0? Is co-working in the private sector having an impact on space usage as well? The downtown market also includes a large inventory of properties constructed in the 1960s and 1970s. What are the options for these older buildings with respect to improving their operational efficiencies and ensuring that their space remains competitive in the market? Can anything be done to stimulate greater private sector demand and growth of high technology firms? Will the LRT, Zibi and LeBreton help stimulate the market? What other initiatives could help drive demand?
Shawn Hamilton, Vice President, Managing Director, CBRE Limited
This session will open with an overview of housing demand in Ottawa both from an ownership and a rental perspective. The discussion will then focus on the major trends in the Ottawa apartment market, and the condominium and single family housing markets. Among the questions that will be examined: what is the short and medium term outlook for the performance of the multi-unit residential sector; where are rental demand and vacancy rates heading over the next twelve months; how much slack is there in the condominium market; is this softness also in the overall Ottawa housing market; how many condo sites have been converted to apartment developments; how cost effective is new rental development at this time; and is student housing still a major new niche sub-market attracting strong interest. Two hotels and one office building in downtown Ottawa were also converted to rentals in 2013-2015, and another one is going in the direction. The session will end by examining the amount of investment quality apartments available for sale. What can break the logjam between strong investor interest and lack of sufficient product? Where are cap rates heading at this time and where are they expected to be in 2017?
Sam Firestone, Chief Operating Officer, Founding Partner & Broker of Record, Primecorp Group of Companies
Ugo Bizzarri, Managing Director, Portfolio Management & Investments, Timbercreek Asset Management
The number of development applications is lower than in previous years, primarily as a result of a slow-down in the Ottawa condominium market. Infill applications in inner-city neighbourhoods are also subject to increasing regulation and scrutiny. Retail centres are subject to anchor tenant movement and changing market expectations. Despite all these factors, Ottawa is experiencing a significant number of “community-building projects” – large-scale redevelopment of strategic properties that has the effect and opportunity of transforming existing neighbourhoods. City staffs are encouraging the redevelopment of large parcels, resulting mainly in mixed-use centres and in proximity to existing transit and future LRT stations. Lansdowne Park, Greystone Village off of Main Street, CLC’s Rockcliffe Airbase, the redevelopment of the Tunney’s Pasture Federal lands, LeBreton Flats and Windmill’s Zibi development all signal an important period of city building in Ottawa and its’ progression as a National Capital City. This session will examine a number of these projects and similar opportunities that exist in this market.
Miguel Tremblay, Director, Planning + Development, FOTENN Consultants Inc.
Pamela Bianconi, Director, Account Management, Colonnade BridgePort
Josh Kardish, Manager, Land Development, The Regional Group
Roderick Lahey, President, RLA Architect
John Moser, Acting General Manager, Planning, Infrastructure & Economic Development Department, City of Ottawa
A discussion with senior real estate executives as they provide their perspective on real estate market fundamentals for 2017 and beyond for the Ottawa 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. The session will open with a brief examination of some of the benchmark investment transactions in Ottawa over the past twelve months. Among the other questions to be examined:
Anthony Broccolini, Chief Operating Officer, Broccolini Construction
Peter Cuthbert, Partner, Chief Operating Officer & Fund Manager, Fiera Properties Ltd.
Hugh Gorman, Chief Executive Officer, Colonnade BridgePort
Mark Kenney, Chief Operating Officer, CAPREIT
Jaime McKenna, Senior Vice President, Finance & Investments, Minto Properties Inc.
Scott Watson, Partner, Crown Realty Partners
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