2020 Conference Program

Platinum

Gold

Wednesday, April 1, 2020


7:15 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
OPENING REMARKS: PROGRAM OVERVIEW

Conference Chair:
Tim Grant, Vice President, Development, PCI Development


8:10 AM
HOW WILL THE WESTERN CANADIAN ECONOMY PERFORM OVER THE NEXT TWELVE MONTHS?

How are the major economic fundamentals performing in Alberta and British Columbia? What is the outlook for employment and population growth over the next twelve months? What is the outlook for the performance of the key engines of the economy in these two provinces? How will the housing market likely perform over the next twelve months?

Robert Hogue, Senior Economist, RBC


8:40 AM
KEY DRIVERS OF DEMAND FOR CALGARY, EDMONTON AND VANCOUVER: HOW ARE OCCUPANCY LEVELS TRENDING AT THIS TIME? WHAT CAN BE EXPECTED IN 2020 AND BEYOND?

This session will examine key housing demand indicators and how they are affecting the multi-residential markets in Calgary, Edmonton and Vancouver. The presentation will examine demographic trends for 2020 and beyond and their implications for rental housing. What is the size of the rental market in the Calgary, Edmonton and Vancouver CMAs? What is the outlook for housing affordability in each market? How will trends in household incomes, labour markets, and population growth impact each of the major rental markets in Western Canada? To what extent is this impacting the rental market?

Michael Ferreira, Managing Principal, Urban Analytics


9:15 AM
THE WESTERN CANADIAN MARKET: INSIGHTS ON APARTMENT INVESTMENT IN CALGARY, EDMONTON AND VANCOUVER 

This session will provide an update on multi-residential investment activity within each of the three markets. What are some of the key transactions that have taken place in the last twelve months? Where does investor interest appear to be heading in each market? Who are the predominant buyers and sellers of properties at this time? What does the future likely hold?

Moderator:
Emmett Hartfield
, Owner & Partner, Intelligence House

Panel:
Paul Chaput
, Senior Vice President, Investments, Institutional Property Advisors
Samuel Dean, Senior Vice President, Capital Markets, Multifamily, JLL
Mark Goodman, Principal, Goodman Commercial Inc.


10:00 AM
MORNING REFRESHMENTS

10:30 AM
NAVIGATING MUNICIPAL, PROVINCIAL AND FEDERAL AFFORDABLE HOUSING STRATEGIES: WHAT INCENTIVES EXIST AND HOW ARE THEY IMPACTING DEVELOPMENT? WHAT DO YOU NEED TO KNOW? 

The session will examine our recent track record on increasing rental supply and highlight the current obstacles to purpose-build rental development. The session will further discuss and assess current rental supply incentive programs and suggest a roadmap to meeting the growing rental housing needs going forward.

Andrey Pavlov, Professor, Finance, Beedie School of Business


11:10 AM
CONCURRENT SESSIONS (Select A01 or A02)
SESSION A01:
IT’S ABOUT THE NUMBERS: A FIELD GUIDE TO THE FIRST STEP IN DEVELOPING AN APARTMENT BUILDING AND PURPOSE-BUILT RENTALS 

New apartment construction in Canadian cities continues to be a major phenomenon. While there are profits to be made, knowing how to calculate, and maximize your return on investment is critical to success. This session will explore the six core questions any developer needs to address to maximize return on investment, using real numbers and examples: Should you build? What should you build? What is the depth of market? How much rent can you charge? How much can you sell the building for? And who can you sell to? The speakers will examine a practical example of how to move from a back of the envelope calculation to full-scale financial modelling. This session will provide you with some realistic insights on development costs, construction costs, operating expenses, and return on investment, from rent and investment perspectives.

Moderator & Speaker:
Sally Turner
, Director, Research & Consultancy, SVN Rock Advisors Inc.

Speakers:
David Eger
, Vice President, Western Canada, Altus Group
Craig Watters, Senior Vice President, Development, Concert Properties


SESSION A02:
HOW TO RETAIN YOUR TENANTS AND INCREASE THE VALUE OF APARTMENTS IN THE THREE MAJOR WESTERN MARKETS

This session will examine how landlords can ensure or grow the profitability of their assets. The discussion will examine how to address the challenges from a tight Vancouver market to the softer markets in Alberta. What are steps to take to lease-up in each respective market and stay competitive? Is this a good time for selling or buying apartment buildings in any of these cities? Why? What are new and innovative ways of connecting with tenants? How are different management styles reflected in generating profit? 

Moderator:
Nick Marini
, Vice President & General Manager, Macdonald Property Management

Panel:
Daniel Bar-Dayan
, Vice President, Asset and Property Management, Porte Communities
John Courtliff, Partner, Managing Director & Portfolio Manager, ICM Asset Management


12:15 PM
NETWORKING LUNCHEON

1:20 PM
CONCURRENT SESSIONS (Select B01 or B02)
SESSION B01:
THINKING OUTSIDE THE BOX: THE NEXT STEPS WITH NEW BUILT RENTAL - FROM CONCEPT TO DELIVERY TO LEASE-UP

A panel that has experience with new apartment projects will examine key questions that must be addressed as you proceed with constructing an apartment building. What are the major differences between developing a conventional rental building opposed to alternative assets such as a student residence, and a seniors’ building? Once the decision has been reached to proceed with a new development, what happens next? From a business plan to project delivery and lease-up, this session will review the overall process of creating a new building using case studies. This session will explore not only the development to lease-up process but also what and where it is being constructed.

Moderator:
Phil Milroy
, President & CEO, Westcorp

Panel:
Todd Nishimura
, Senior Director, Marketing, Leasing and Communications, GWL Realty Advisors Residential
Keri Rodgers, Director, Corporate Affairs, HighStreet Accommodations
Russell Syme, Assistant Vice President, Commercial Financing, First National Financial LP
Scott Ullrich, Chief Executive Officer, Gateway Property Management


SESSSION B02:
A LOOK AT ASSET MANAGEMENT AND RENTAL STRATEGIES: CASE STUDIES OF REPURPOSING TO OTHER STRATEGIES TO REMAIN COMPETITIVE IN A WORLD OF NEW DEVELOPMENTS AND CONDOS

Competing with shiny new condominium units and purpose-built rental stock has both challenges and opportunities. What steps can you take to enhance revenue streams, reduce operational load, and improve competitiveness against new builds? When is it feasible to introduce higher performance elements in your buildings to improve profits and reduce expenses? What happens when a property is just too old or there is a highest and best use other than pure rental? How can you repurpose common areas for condo type amenity space and also to manage new forces like package delivery demands on space from online shopping?

Moderator:
Bradyn Arth
, Senior Vice President, Investments, Institutional Property Advisors

Panel:
James Ha, Vice President, Finance & Investor Relations, Boardwalk REIT
Raul Jaime, Director, Investment Management, Quadreal Property Group
Steve Krilanovich, Vice President, Asset Management, Lotus Capital Corp.


2:20 PM
CONCURRENT SESSIONS (Select C01 or C02)
SESSION C01:
CASE STUDIES OF MIXED-USE DEVELOPMENTS AND NEW RENTAL PROJECT INNOVATION

While there is a growth in purpose-built apartment buildings, what are some of the creative other ways of developing new rental units? This session will focus on examples of projects underway or recently completed in Calgary, Edmonton and Vancouver. A range of innovation will be examined beginning with the inclusion of apartments within a mixed-use development, intensifying an existing property (eg, a retail centre), Transit Oriented Development, adding floors to an existing rental building, and offering amenities that are not found traditionally in apartment properties. Partnerships between developers and operators will also be discussed as a way of creating better client experience.

Moderator:
Matthew Boukall
, Vice President, Product Development, Data Solutions, Altus Group

Panel:
Tom Burr
, Vice President, Multi-Family Development, ONE Properties
Kendal Harazny, Co-Founder & Principal, Wexford Developments
Gary Lee, Managing Director, Residential Services, BentallGreenOak (Canada)
Greg Shumlich, Managing Partner, Domain Apartments Ltd.


SESSION C02:
CONSTRUCTION AND DEBT FINANCING: CALGARY VS. EDMONTON VS. VANCOUVER

A cross-section of lenders will provide their views and examine their levels of activity in each of the three major markets specifically as it relates to multi-family properties and development. This will include the perspective of banks, institutional lenders, mortgage investment corporations and other alternatives. To what extent are their priorities, underwriting and strategies varying at this time? How are they assessing a transaction and pricing it in each market? Where are spreads heading at this time? Under what circumstances will they finance construction? Case studies of actual transactions for small to large assets will be examined during the session.

Moderator:
Sandeep Manak
, Chief Financial Officer, Wesgroup Properties

Panel:
Jamie Dysart
, Executive Director, Mortgage Investments, KingSett Capital
Ray Johnson, Senior Director, Development Finance Group, MCAP
Michael Sagert, Associate Director, CMLS Financial
Reade Wolansky, AVP, Business Development, Real Estate Financing, BC, Laurentian Bank of Canada


3:20 PM
CLOSING ROUNDTABLE
MULTI-FAMILY ASSETS IN ALBERTA AND BC: WHERE ARE SENIOR EXECUTIVES PLACING THEIR BETS?
PRIVATE EQUITY FUNDS, REITs, PENSION FUNDS AND PRIVATE INVESTORS: WHAT ARE THEIR CRITERIA FOR MULTI-FAMILY ASSETS IN ALBERTA AND BC?

What are the views senior executives on the Calgary, Edmonton and Vancouver markets respectively? What are the challenges to buy or sell apartment assets from a REIT vs. a pension fund vs. a private equity fund vs. a privately-owned corporation? What trends are they paying attention to and how are they incorporating them into their assets and portfolios? How do they view BC and Alberta at this time? Where are they placing their bets? 

Moderator:
Tim Grant
, Vice President, Development, PCI Developments

Panel:
Bill Blais
, President, Maclab Development Group
David Hanick, Chief Legal Officer, Starlight Investments
Dan Sander, Hollyburn Properties Limited


4:15 PM
ADJOURNMENT