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There is no denying that British Columbia’s economy is robust with signs of growth across most market segments. Between higher employment, stronger-than-expected performance of the housing market, the strength of one of Canada’s largest provinces is quite evident. What are the main factors contributing to these trends? Where is the GVRD heading in terms of population growth and demographics? How will this impact retail demand, rental demand, etc. going forward? What can we expect for the remainder of 2021 and beyond? What does the region need to do to maintain its competitive advantage as immigration and tourism has essentially come to a halt? Why do we have to pay attention to the synergies between live, work and play?
Andrew Ramlo, Demographer, Urban Planner & Executive Director, Urban Futures & Vice President, Consulting, rennie
Vancouver industrial vacancy rates have been at near-record lows for more than four years. Layer on to that the impact of the pandemic, and the high demand and ongoing embrace of e-commerce and this asset classes is seeing insatiable demand. How sustainable is this tight market? Advancements in transportation, technology and construction continue to converge and alter the logistics landscape. How are developers creating innovative solutions in order to provide much needed product into this very tight market? Are strata developments becoming more popular? Given the cost of land, are secondary markets seeing an increase in industrial activity? To what degree is the amount of demand going to be sustainable going forward? Will demand soften as we come out the other end? How is last mile delivery being impacted and what does this mean for warehousing and distribution?
Nick Gaganiaras, Executive Managing Director, Supply Chain Consulting, Colliers International
Guy Akester, Vice President, Real Estate, Montrose Properties
Blake Asselstine, Vice President, Asset Management, Beedie
Kleo Landucci, Chief Commercial & Corporate Affairs Officer at Ashcroft Terminal a Member of the PSA Group
Alistair Pickering, Vice President, Industrial, Oxford Properties Group
In mid-2020, B.C. saw the government announce initiatives to help tenants and landlords alike weather the economic storm of the pandemic; from an eviction moratorium to the B.C. Temporary Rental Supplement. How have these initiatives impacted the market? How has the multi-residential market really performed since March 2020? What impact are lower financing costs, lower utility costs, lower repair and maintenance costs and non-existent CAPEX having on the value of these assets? With low cap rates, and high land costs, how sustainable is purpose built rental? Is condominium development a better alternative? Will rising prices in the single-family market sustain higher rental demand? How are demographic shifts such as down-sizing households and millennials affecting the apartment market? What are investors doing in this market under these conditions?
Carey Buntain, Vice President, Multi-Family & Investment Sales, Avison Young
Eric Bond, Senior Specialist, Market Analysis, Canada Mortgage and Housing Corporation
Brad Cutsey, President, InterRent REIT
Shenoor Jadavji, Founder & President, Lotus Capital Corp.
Mike Mackay, President, Strand Development
Wendy Waters, Vice President, Research Services & Strategy, GWL Realty Advisors
Vancouver is on the cusp of being considered a major global innovation centre, offering a skilled workforce, renowned research universities, and government support. Vancouver also has much in common with Seattle and Portland including unsurpassed beauty, importance as a port city, proximity to Asia, and market-leading capabilities in key economic sectors – particularly high tech. To what extent have developers and investors become more active across the border with Canadians heading South and Americans heading North? Are technology companies drawn to Vancouver because of the value of the Canadian dollar, the availability of labour and cost of real estate? Looking ahead beyond COVID-19, will Vancouver continue to be a magnet for technology giants looking to expand outside of the U.S with its proximity to Seattle and Silicon Valley?
Norm Taylor, Vice President & Managing Director, BC Region, CMLS Capital
Eric Carlson, Core-Founder & CEO, Anthem Properties
Greg D’Avignon, President & CEO, Business Council of British Columbia & Co-Chair Steering Committee, Cascadia Innovation Corridor
Robert Duteau, Senior Vice President, Investment, Grosvenor Americas
Walter Pela, GVA Regional Managing Partner, KPMG
Chuck We, Senior Vice President, Western Canada, Hudson Pacific Properties