Hi Reader, I hope you had a great long weekend. Over the past couple of years, I've been approached by about a dozen different AI apps that promise to help you figure out whether you should build a multiplex. Most of them generate a rough pro forma, estimate your returns, and tell you whether the project "works". Another one landed in my inbox this weekend, and it immediately reminded me of the story of the Space Pen. The story goes that when NASA was preparing for space missions, engineers...
6 days ago • 1 min read
Hi Reader, A few months ago, we asked a group of subscribers two key questions about their (potential) Multiplex Development project in Toronto. When it comes to starting your first multiplex development project in Toronto right now, what is the one single biggest challenge or hurdle you’re struggling with? Which areas (of the development) do you need the most clarity on? A clear pattern emerged. They wanted more confidence in the assumptions behind the numbers. They wanted to better...
19 days ago • 1 min read
New Episode: (59) CMHC Financing for Small Mid-Rise Projects Abtin Nikeghbali Is a Director of Mortgage Origination at Canada ICI. Since 2020, Abtin has advised on over $4.5 billion in real estate financings across Canada, leading the structuring and underwriting of complex debt and equity capital solutions. His expertise spans land and construction loans, bridge and inventory financing, term debt, and equity placement. Announcement: We’re pleased to share that Dena Project Management has...
27 days ago • 2 min read
Hi Reader, Over the past year, I have found myself giving newer and first-time developers the same warning: "Please don't build 4-storey Buildings! That is what our ecosystem is quietly yelling at you!" The main reason this conversation keeps coming up is the changes that have happened over the past couple of years in Toronto planning. Mainly the EHON (Expanding Housing Options in Neighbourhoods) and one of its core tenets, i.e. Major Street permissions. I am not a planner, so I will leave...
about 2 months ago • 2 min read
New Episode: (57) Mid-Rise Purpose-Built Rental: Underwriting Rent, Absorption, & Exit Risk Mathieu Fleury Founding Partner at Leader Lane Developments, he holds a Master’s in Real Estate Finance from The University of Cambridge in England. Over the last 12 years, with firms such as Loblaw Properties Limited, Great Gulf, and Dream Unlimited, Mathieu has been responsible for financial forecasting and budgeting for over 15,000 residential units and over 7 million sq. ft. of development across...
about 2 months ago • 1 min read
New Episode: (56) 42 Years of Development Lessons on Building Better Homes & Communities Jake Cohen As President of The Daniels Corporation, he leads all of Daniels’ business operations, providing strategic direction across the company’s developments from land acquisitions through construction to project completion. With over 20 years of progressive leadership, he aligns corporate strategy with operational excellence to deliver large-scale residential, commercial, and mixed-use developments...
2 months ago • 1 min read
Hi Reader, In the past few years, EHON and other initiatives have created significant opportunities for real estate development in the City of Toronto. Join us on this free webinar to learn more about the new opportunities resulting from these changes and how to avoid the most common pitfalls that can come with them. In this webinar, we cover: What exactly are EHON and the Major Streets framework enabling? Why mid-rise still remains difficult, even when policy appears supportive? Where are...
3 months ago • 1 min read
New Episode: (55) How to Unlock More Mid-Rise Housing in Toronto? Richard Witt Richard is a Principal at BDP and the firm’s Global Head of Housing, overseeing housing work across a range of international markets. He combines global insight with hands‑on leadership of local teams delivering complex, sustainable and inclusive projects at scale, particularly mixed‑use, high‑rise and workplace developments. Upcoming Webinar EHON, Major Streets, and Mid-Rise Housing: Opportunities and Pitfalls...
3 months ago • 1 min read
New Episode: (54) How Institutional Capital Thinks About Real Estate Development Risk Jeff Thomas is the Group Head, Development at KingSett Capital. Jeff is responsible for the vision and execution of the firm’s development business and serves as Fund Manager for KingSett Affordable Housing LP and Residential Development LP. Prior to joining KingSett, Jeff was the Managing Partner at Ashlar Urban, a commercial real estate brokerage firm that was acquired by Cushman & Wakefield in 2017. In...
3 months ago • 1 min read