Canadian Apartment - May/June 2024

Apartment 

CANADIAN 

VOLUME 21 / NUMBER 3 / MAY/JUNE 2024 

MORE RENTALS 

ON THE HORIZON 

VANCOUVER’S TRANSITIONING 

ROBSON STREET CORRIDOR 

WHO’S 

WHO 2024 

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EDITOR’S NOTE>> 

/cammediaedge 

/cdnapartmentmag 

/mediaedgecam 

AN INDUSTRY UNITED 

Three years ago in April, Canada’s average asking rent fell to 

the COVID-low of $1,662. Since then, Rentals.ca reports that 

residential rents have soared by approximately 33 per cent, 

accelerating sharply through the spring and summer of 2023 

before moderating slightly in Q1-2024. As the supply-demand 

imbalance continues, developers, policymakers and the industry at 

large are united in finding ways to amp up construction and improve 

access to affordable rental housing. In this issue, we explore some of the 

data, challenges, constraints, and potential solutions as Canada and the 

apartment sector continue to tackle the housing crisis. 

In our cover story on page 22, we look at Vancouver’s developing 

West End, and specifically the Robson Street corridor. GWL Realty 

Advisors has been a key player in this transitioning neighbourhood since 

2016, bringing more, much-needed purpose-built rental housing to 

the popular shopping strip where vacancy rates have hit record-lows. 

Meanwhile, as climate change and aging infrastructure make apartment 

buildings more vulnerable to damage, rising insurance premiums are 

negatively impacting property owners. We cover strategies for better 

water risk management and other timely topics impacting the rental 

sector in our feature stories. 

Last but not least, don’t miss our annual “Who’s Who” report, 

identifying the top players in Canada’s multi-residential real estate 

sector. Please enjoy this special edition, and if you have any questions, 

comments, or article topics you’d wish to share, feel free to reach out 

to us via email, or contact us on our new Canadian Apartment LinkedIn 

page. Looking forward to hearing from you! 

Sincerely, 

Erin Ruddy 

rent trends 

AVERAGE ASKING RENT BY PROVINCE 

Purpose-built and Condo Rental Apartments: April 2024 

40% 

of Canadian (urban) 

households live in 

homes they own 

$2,507 

BC 

$1,300 

SK 

Editor 

Art Director 

Graphic Designer 

Erin Ruddy 

Annette Carlucci 

Production Coordinator Ines Louis 

Contributing Writers 

National Sales 

Digital Media Director 

Circulation 

Thuy Huynh-Guinane 

Errol Small, Trisha Glazer 

Jake Blanchard 

Melissa Valentini 

Steven Chester 

Adrian Holland 

For sales information 

call (416) 512-8186 

Canadian Apartment Magazine is published six times a year by: 

2001 Sheppard Avenue East, Suite 500 | Toronto, Ontario M2J 4Z8 

E-mail: info@mediaedge.ca 

President 

Kevin Brown 

Group Publisher 

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Copyright 2024 

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Subscription Rates: Canada: 1 year, $50*, 2 years, $90*, US $75 

International $100, Single Copy Sales: Canada: $12* 

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Requests for permission to reprint any portion 

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Authors: Canadian Apartment Magazine accepts unsolicited query letters 

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Sworn Statement of Circulation: Available from the publisher upon written 

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ensure the accuracy of the information published, we cannot be held liable 

for any errors or omissions, however caused. Printed in Canada. 

$1,609 

MB 

$1,746 

AB 

$2,404 

ON 

Source: Rentals.ca 

$2,011 

QC 

$2,169 

NS

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LABOUR WOES 

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PART OF THE 

P A R T O F T H E 

PART OF THE 

P A R T O F T H E 


FEATURES 

14 RIDING THE WAVE 

OF THE FUTURE 

Proactive water risk 

management strategies 

By Errol Small & 

Trisha Glazer 

18 HOUSING LABOUR 

AND INNOVATION 

Bold action needed now to 

reach Canada’s unlikely target 

by Erin Ruddy 

28 WHO’S WHO 2024 

Top players in the Canadian 

Apartment Industry 

COLUMNS 

8 Transactions Q2-2024 Rental Market Update 

10 CMHC Reaching Canada’s Housing Potential 

33 Newsworthy Industry Hot Topics 

COVER STORY 

22 RISE OF THE ROBSON STREET CORRIDOR 

GWLRA announces plans for a 2-tower rental 

development in Vancouver’s West End 

by Erin Ruddy 

DEPARTMENTS 

4 Editor’s Note 

42 Smart Ideas 

CANADIAN 


Apartment 

PM#40063056 

MORE RENTALS 

ON THE HORIZON 

VANCOUVER’S TRANSITIONING 

ROBSON STREET CORRIDOR 

plus 

MARKET 

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WHO’S 

WHO 2024 

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Q2 MARKET UPDATE 

Stable, healthy conditions abound 

Demand for rental housing remains strong in Canada’s major urban areas, in keeping with the trend of the past few years. 

According to Keith Reading, Director of Research at Morguard, the high cost of owning a home supported this trend 

through Q2, resulting in low tenant turnover and vacancy rates. 

“ 

Record-high international immigration also boosted demand 

for rental accommodation,” he said. “Rents, on average, 

remained at the cycle peak, but rent growth was strongest in 

Alberta due in part to the surge in population.” 

In recent months, the comparatively low cost of housing in 

Alberta has been a draw for families and individuals escaping the 

record-high rents and cost of living in places like Vancouver and 

Toronto. Reading expects that rental market conditions in Canada 

will remain stable and healthy over the balance of 2024 in keeping 

with the first and second quarters. 

Investment market 

Investment sales activity remained muted in Q2, while Investors continued to 

exhibit confidence in Canada’s multi-suite residential rental property sector 

outlook. The gap between buyer and seller pricing expectations negatively 

impacted sales activity through the first five months of 2024. 

At the same time, relatively few significant portfolios have been brought 

to the market for sale. A Starlight Investments portfolio was the exception, 

offering a comprised 2,643 suites spread over 26 properties in Ontario and 

British Columbia. The sale of the Starlight portfolio will boost transaction 

volume significantly, following a period of muted activity levels. 

NEW & NOTABLE Transactions 

Source: Morguard 

1. 

2. 

3. 

4. 

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2000, 2012 Sheppard Ave W Toronto $101.0 320 $315,625 QMW 

1900 Lincoln Ave Montreal $17.5 95 $184,211 Sinai Macdonald Holdings 

9915, 9939 115 St NW Edmonton $43.0 204 $210,784 Har-Par Investments 

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TRANSACTIONS >> 

“The government has prioritized 

removing red tape while adding critical 

elements of predictability.” 

Alberta leads provinces for 

housing starts in 2024 

Recent data from CMHC indicates total 

housing starts in Alberta reached 9,722 

from January to March, representing a 50 

per cent increase from the 6,200 starts 

over the same period in 2023. This growth 

puts Alberta well ahead of the rest of 

Canada, where a 16 per cent growth rate 

was achieved. 

“Our province is leading the way in 

getting more homes built,” said Jason 

Nixon, Minister of Seniors, Community 

and Social Services. “We will continue to 

support our partners in the residential 

construction industry to help increase 

housing options available for all Albertans. 

Our construction industry is making strong 

progress addressing our market housing 

shortage through these new builds.” 

Alberta has seen considerable growth 

in rental homes in the last three years, 

with 25,477 units constructed. This 

represents more, new rental housing 

starts than the previous 15 years 

combined (25,285). 

“The government has prioritized 

removing red tape while adding critical 

elements of predictability,” said Scott 

Fash, CEO, BILD Alberta Association. 

“This has supported Alberta’s residential 

construction industry in achieving record 

levels of housing construction, including 

purpose-built rental units. The industry 

is building at a historic pace to meet 

rising demand, and through continued 

collaboration with the government, 

we can help secure Alberta’s housing 

advantage for generations to come.” 

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Reaching Canada’s 

Housing Potential 

Despite surge in apartment starts, 

construction expected to slow in 2024 

Since the launch of Canada’s Housing Plan and the subsequent 2024 Federal Budget, many analysts remain 

skeptical about the country’s capacity to build enough homes to meet its aggressive 2031 target. Case in 

point: last year, Canada’s production of 240,267 housing units failed to reach its potential of exceeding 

400,000 homes per year. 

“ 

Canada should be building between 130,000 and 225,000 

more homes per year than it currently is,” wrote Mathieu 

Laberge, Senior Vice-President, Housing Economics 

and Insights. “Reaching this full potential will require structural 

changes that go far beyond the short term. There are adjustments 

occurring across the country right now that may help get us closer 

to this goal, such as changes to regulations at the municipal level. 

That said, more can and must be done by governments and the 

industry to achieve greater housing outcomes.” 

Until the mid-2000s, housing starts were closely aligned with 

employment and gross domestic product (GDP) in residential 

construction. In the following years, despite increased investment 

in residential construction through both funding and labour, the 

pace of construction did not keep up. 


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As Laberge put it, “Achieving the government’s goal of 3.87 million 

new homes by 2031 demands both regulatory reforms and 

industry consolidation to increase efficiency and productivity. The 

Housing Accelerator Fund is a huge step in achieving this outcome.” 

Record rental starts 

Meanwhile, rental apartment construction in Canada’s six largest 

cities surged to 41,460 units in 2023. This increase in rental 

starts can be attributed to significant tightening of rental market 

conditions characterized by historically low vacancy rates and remarkable 

rent growth. Similar to condominium apartments, many 

rental apartment projects started in 2023 had secured construction 

financing when interest rates were lower. The impact of the 

increases in financing and construction costs that were observed 

in 2023 have, therefore, yet to fully materialize. 

In Toronto, total housing starts increased by five per cent compared 

to last year, reaching 47,428 units—the second-highest level 

since the 1960s. This increase was driven entirely by apartment 

construction, with rental apartment starts more than doubling 

from 2022. According to the Spring 2024 Housing Supply Report, 

this strong growth in apartment construction was largely due to 

projects that were financed or launched for sale in the lower-interest 

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housing types, meanwhile, declined. This 

was a common trend observed across 

most of Canada’s large urban centres, 

reflecting weaker demand for higherpriced 

homes in a higher mortgage rate 

environment. Their shorter development 

timelines resulted in a quicker response 

to the deterioration of macroeconomic 

and financial conditions. 

In Calgary, total starts increased by 13 

per cent to 19,579 units—an all-time high. 

This strength was supported by a steady 

economy and strong employment and 

population growth. Apartment starts were 

at a record-high driven by rentals, which 

accounted for more than half of multi-residential 

starts. 

In Vancouver, there were a record-high 

33,244 new housing starts in total, marking 

a 28 per cent increase from 2022. Like 

Toronto, the surge in new construction 

was entirely driven by the apartment sector, 

which accounted for 83 per cent of the 

city’s total starts. Both condominium and 

rental apartments reached record-high 

start levels last year. 

“Similar to condominium apartments, many 

rental apartment projects started in 

2023 had secured construction financing 

when interest rates were lower. ” 

More highlights from the report: 

• Although overall housing starts remained 

stable in 2023, Canada saw a 7% surge in 

purpose-built apartment and condominium 

construction and a 20% decline in single-detached 

starts. 

• Housing starts trends varied from city to city 

with Toronto, Vancouver and Calgary experiencing 

record-high apartment construction, 

and Montréal facing an 8-year low in 

apartment starts. 

• Purpose-built rental construction hit record 

levels, reflecting unprecedented demand 

for rental housing. Despite the growth in 

purpose-built rental construction, supply 

For CMHC’s latest Rental Market Report, visit www.cmhc-schl.gc.ca 

has not kept pace with demand, evidenced 

by low vacancy rates and strong rent growth. 

• Condominium apartment starts also hit record 

levels, reflecting robust pre-sale activity 

and favourable borrowing rates secured 

before 2023. 

• The sharp drop in single-detached starts 

was the result of weaker demand for higherpriced 

homes in an elevated mortgage rate 

environment. 

• Rising costs, larger project sizes and labour 

shortages have led to longer construction timelines. 

In response, various levels of government 

have launched or announced new programs to 

stimulate new rental housing supply. 

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Riding the Wave of the Future 

Proactive water risk management strategies for multi-residential 

property owners 

by Errol Small & Trisha Glazer 

Property owners in Canada are well-aware that residential insurance rates have been rising in recent years. What’s 

worse; these rate hikes are largely due to reasons outside their control, like severe weather from climate change 

leading to costly floods. One way to ensure a building gets the best insurance rates is to lower its exposure to risks 

from water. Industry experts today say that the sharp increase in water damage costs caused by aging and inadequate 

infrastructure exceeds the cost of natural weather damage. In addition, outdated buildings and infrastructure are 

simply ill-equipped to handle and keep up with urban population growth. 


FEATURE >> 

Volatile weather 

on the rise 

Flooding is Canada’s most costly natural disaster, causing over $1 billion in direct 

damage to homes, property, and infrastructure per year. Although spring flooding 

happens everywhere, the western provinces are particularly vulnerable, with 

evacuations and states of emergency hardly rare occurrences. The B.C. floods of 

November 2021, in fact, are still considered the most expensive natural disaster in 

the province’s history, costing the federal government a historic $5 billion. 

According to Resources Canada, severe floods are expected to rise in frequency 

— and they’re getting more dangerous. Flooding can be caused by heavy 

rainfall, rapid melting of snow, ice jams, coastal storm surges, or strong onshore 

winds. If floodwater inside a home or building is not dealt with quickly, walls, 

carpets, flooring, ceilings and personal property will become damaged beyond 

repair. Flooded zones will become unsafe for human exposure as the dangerous 

bacteria multiply in the wet environments, leading to mold growth. According to 

restoration experts, it only takes a few inches of water to create a serious threat to 

your building, so it’s important to act fast. 

Proactive risk management 

Insurance companies report that water 

damage claims account for more than 60 

per cent of all insurance claims in Canada, 

totaling between $4 and $6 billion annually. 

Furthermore, the costs involved to repair 

flood and leak damages not only increase 

insurance rates but can significantly impact 

capital budgets. 

The increasing cost of water, combined 

with the general lack of tenant mindfulness 

and the difficulty in effectively monitoring 

water consumption, are three key factors that 

significantly affect multi-unit residential and 

commercial buildings’ Net Operating Income 

(NOI). Toilets alone account for approximately 

a third of all indoor water usage in multi-unit 

residential buildings, and it is estimated that 

approximately 20 to 25 per cent of toilets in 

North American experience undetected leaks 

at any given time. 

“The most effective and proactive way to 

counter rising premiums and mitigate risk 

is to have a comprehensive action plan.” 

Unintended forced water consumption 

results in the loss of billions of dollars in 

NOI each year. These unit-related risks, 

along with a building’s aging infrastructure 

and plumbing, can cause significant 

damage to multiple units, floors, and other 

common areas, resulting in higher insurance 

premiums—or worse, insurance coverage 

cancellation. 

As the demand for upgraded units 

increase, there are more points in 

apartment units where water may leak. 

For example, some residential units now 

contain dishwashers and ensuite laundry. 

Clothes washers and dishwashers obtain 

water from a source hose and then dispense 

of the water through a drain. Assuming the 

installations are done according to code 


FEATURE >> 

with a licensed plumber, there is generally 

little initial concern for immediate leaks or 

floods. However, there is also an assumption 

that the tenant will maintain and operate 

the machines according to specifications. 

Unfortunately, landlords are aware that 

tenants do not typically maintain rental units 

properly, and over time, hoses become 

compromised, and problems occur. 

Potential leaks are disasters waiting to 

happen and will increase the chances that 

your building will be denied insurance 

premiums in the future. 

Building a comprehensive action plan 

Since water-related claims are among the 

most common and expensive in Canada, 

water risk management is quickly emerging 

as the primary focus for building owners and 

shareholders looking to reduce premiums 

and deductibles to protect and increase the 

value of their assets. The most effective and 

proactive way to counter rising premiums 

and mitigate risk is to have a comprehensive 

action plan to keep buildings as safe as 

possible before accidents occur, and claims 

are made. Although the technology exists 

to detect, alert, mitigate and prevent such 

catastrophic events, water risk planning 

has not yet caught up to fire safety and 

prevention planning in terms of its level of 

adoption. 

Sustainable and preventative planning 

with multi-residential building stakeholders, 

such as building management, security, and 

concierge and maintenance staff, is a key 

component to mitigating risk. Working with 

a water management consulting company 

to determine which leak detection 

technology and solutions are right for 

your building is the best place to start. 

These experts will assess the health of the 

property, identify the risks, and recommend 

the right services and solutions to help you 

build a plan to manage your facilities’ water 

consumption. 

For a free consultation with WatrTek Pro, contact Nando Presciutti at nandop@watrtek.com 

ARE YOU CONTEMPLATING THE SALE OF 

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This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and 

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Housing labour 

and innovation 

Bold action needed now to reach Canada’s unlikely target 

by Erin Ruddy 

For Canada to meet its target of building 5.1 million homes in the next twelve years, cutting-edge tools and strategies 

are needed imminently to ensure housing affordability, scalability, climate compatibility, and resilience are achieved 

along the way. Apartments, in particular, face numerous obstacles stifling their development. According to the 

panelists speaking on housing labour and innovation at the 2024 CFAA Rental Housing Conference in Toronto, May 

16th, no new shovels will hit the dirt unless governments and policymakers are prepared to make changes. 

“ I 

think we are in big trouble as an industry,” 

said Dean Campbell, VP of Construction 

and Design at Parkbridge. “Innovation is 

desperately needed if we are going to build 

the kind of housing we need. There just aren’t 

enough young people entering the skilled 

trades. High school students aren’t required to 

take shop class anymore. Fewer are considering 

jobs as masons or bricklayers. We are also 

missing out on half the population—women. 

Unless we find a way to recruit them and address 

this chronic understaffing, the labour 

force will continue to dwindle and there won’t 

be the workforce to meet the demand.” 

“Pressure is on to innovate” 

With housing starts already concerningly 

down in 2024, as the challenges continue 

to pile up, none of the panelists were 

particularly optimistic that 5.1 million new 

homes could possibly rise over the next 

12 years, especially given Canada’s track- 


FEATURE >> 

record of producing just two million homes 

in its best eight-year stretch. That said, when 

the pressure is on to innovate, big problems 

can lead to big opportunities—and like the 

COVID vaccination sprint of 2020, this isn’t a 

race we are running alone. 

“Canada isn’t the only country facing a 

housing crisis,” pointed out George Carras, 

founder and CEO of R Labs. “The policy and 

framework around housing is a problemrich 

environment around the world. The 

opportunity for industry-level innovation 

is three times the normal size given that 

whatever homes we build today must be 

affordable, attainable, and resilient. Working 

towards achieving these goals calls for 

intensive research and development, cuttingedge 

tools and methodologies including 

automation and robotics, and embracing 

modular construction.” 

According to Matt Spoke, a former tech 

entrepreneur and partner at Toronto Standard, 

zoning changes and government policy should 

better align with the needs of developers. 

“We need policymakers to allow the 

industry to get creative with solutions,” he said. 

“We need to embrace change and innovation. 

Multiplexes are now permitted, which is 

helping. The type of skilled labour required to 

build these smaller homes and infill projects, 

or to convert existing single-family homes, is 

different than what’s needed to build high-rise 

concrete apartment buildings. It won’t solve 

the housing crisis on its own, but it is part of 

the toolbox of solutions.” 

The problem, as Richard Lyall, president 

of RESCON, sees it, is that red tape keeps 

getting in the way of progress and stymying 

the industry’s attempts to build the required 

housing quickly and decisively. The dismally 

long approval processes add months, if 

not years, to any new building project, and 

particularly purpose-built rentals. 

“This isn’t a housing crisis, it’s a growth 

management crisis,” he said. “Although there 

have been some positive changes introduced 

recently by all levels of government, it’s 

not enough. Starts are falling, the market is 

dysfunctional, housing is a need and we’ve 

turned it into an investment play. There needs 

to be a concerted, focused effort on technology 

and innovation, and it needs to be bold.” 

The Housing Now example 

Lyall and the other panelists point to Toronto’s 

Housing Now initiative as a prime example 

of government policy getting in the way of 

development. Launched in January 2019 

under Mayor John Tory, the program is 

designed to activate City-owned lands and 

stimulate the development of affordable 

rental housing within transit-oriented, 

mixed-income communities. It remains a key 

housing supply program that supports the 

City’s target of building 285,000 homes by 

2031. Yet despite launching in 2019, the first 

Housing Now project didn’t get underway 

until August 2023—that’s a five-year holdup 

on a key priority. 

Issuing the following statement, the 

City said it “continues to work as quickly 

as possible with non-profit and private 

sector developers to get shovels in 

the ground while navigating a number 

of external challenges. Impacts of the 

COVID-19 pandemic, significant increases 

in construction costs and interest rates, 

labour shortages and global supply chain 

disruptions have affected Housing Now 

projects, as well as other residential projects 

in Toronto and across Canada.” 

The City also noted that legislative 

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changes were to blame for the slow-down, 

including changes to the federal National 

Housing Co-Investment Fund that resulted 

in grant funding being capped at levels too 

low to support the cost of developing new 

affordable housing. At the same time, the 

Province of Ontario’s Bill 23, More Homes 

Built Faster Act, eliminated housing services 

from Development Charges revenues, 

which was the City’s primary funding tool 

to support the delivery of new affordable 

rental housing supply. 

“It’s been a debacle. Nothing has been 

built,” Lyall said. “And the clock is ticking on 

those targets.” 

In short, Carras, Campbell, Spoke, and 

Lyall ended the session in agreement 

that to build the kind of housing Canada 

needs—5.1 million homes in 12 years—it’s 

going to take fundamental policy changes, 

intense research and development, a 

focused effort to cultivate, train and recruit 

new talent, and the widespread adoption of 

technology and innovation. In other words, 

it’s mission-critical and the time to kick-start 

those efforts was yesterday. 


SPONSORED CONTENT 

FROM HUMBLE 

BEGINNINGS TO 

INDUSTRY LEADERSHIP: 

THIRTY YEARS 

OF FOREST GROWTH 

When laying the 

groundwork for 

his inaugural 

business, Domenic Gurreri knew 

choosing the right name was crucial. 

It was 1994, and as a civil engineering 

student, Domenic had secured some 

contracting completing interlock and soft 

landscaping work for residential clientele. With the 

positive responses he received, he soon realized it was 

something he could build a successful career on. To reflect 

his vision of rejuvenation and growth, Domenic landed on 

“Forest Contractors” for his company name, laying the 

foundation for a growing entrepreneurial pursuit. 

Domenic knew owning his own business was going 

to be tough—at least at first—but he was familiar with 

commitment. His Italian father had instilled the ethos 

of dedication and commitment into him from an 

early age, and his summers were spent working for 

the family business, a janitorial company. Although 

Domenic had no direct connection to the construction 

industry, many of his friends did. He was fascinated by 

the processes involved with construction and, through 

some contacts, was able to take his first steps towards 

working in the industry. 

He soon found that much of his profit was eaten 

up by the cost and delay of using equipment rentals. 

To be competitive, he knew he needed to own the 

machinery outright. While still a student at Toronto’s 

George Brown College, he made arrangements for a 

bank loan. He was quickly denied—in fact, the bank 

manager laughed at him—but undeterred, Domenic 

returned with the backing of his parents who agreed 

to act as co-signers. 

INNOVATIVE EQUIPMENT ACQUISITION 

With the money in his pocket, the company acquired 

key pieces of machinery including a Combination Roller, 

a piece of equipment used for compacting asphalt. 

The machine was not yet being used by competitors 

in a patch and repair setting and was considered an 

innovative move in the commercial and industrial sector. 

Fun fact: you can find the Combination Roller displayed 

in the second-floor foyer at the Forest Group head office. 

Along with the Combination Roller, Domenic acquired a 

dump truck, doolies, back hoes, mini excavators, skid 

steers, rollers, small spreader, and a trailer to move the 

equipment from one job to another. Just two years 

into their inception, Forest now could take on a larger 

volume of jobs and move into the commercial industrial 

arena. They now had the control over quality needed to 

ensure seamless project completion. 

In those first years, every dollar earned was put back 

into the business to allow it to establish itself and grow. 

And it grew considerably. 

BEGINNINGS OF FOREST GROUP 

In 1997, Forest Contractors Ltd. found its first office 

location with an attached shop. In 2004, he owned 

his first office facility with a yard, and in 2012, Forest 

opened their own asphalt plant strategically located 

at the junction of two major highways to conveniently 

serve customers across the GTA and beyond. With five 

storage silos for various hot-mix asphalt types and 

updates made to the acquired asphalt plant facility, 

Forest Paving Ltd. was born, marking the beginning of 

the Forest Group! In 2017, Forest winterized the asphalt 

plant, allowing the plant to produced hot-mix asphalt 

all year round for our clients.


Now aligned with their own asphalt 

plant, Forest Group were able to be 

more competitive on municipal projects. 

Forest was able to successfully bid and 

work with municipalities by providing 

low and competitive pricing to clients 

and was not only able to supply itself 

with high quality asphalt but serve as a 

supplier to other asphalt companies. The 

asphalt plant also serves as a recycling 

division, whereby waste concrete is 

crushed and reused as a gravel base 

approved by MTO standards. 

In 2015, Forest acquired A. Wesley 

Paving Ltd., further expanding their 

capabilities in providing high-quality 

paving and asphalt services. 

With over three decades of 

experience, Forest Group employs 

over 250 dedicated professionals and 

maintains a fleet of over 450 machines. 

Forest Group has headquarters 

in Vaughan, a paving division in 

Concord, and equipment yards in both 

Brampton and Burlington. With an 

emphasis on sustainability and resource 

management, Forest has earned 

the trust of top-tier clients including 

Canadian Tire, Rogers, CIBC, York 

University and CN Rail, along with many 

other satisfied clienteles. 

WELCOMING FOREST READY MIX 

In 2023, the company expanded 

further with the introduction of Forest 

Ready Mix to the group of companies. 

Forest Ready Mix provides 

premium concrete mixes direct 

to customers and upholds 

the company’s core values 

of excellence and 

innovation. 

It doesn’t stop there. Forest has been 

recognized as a Platinum Club member 

of Canada’s Best Managed Companies 

and has been the recipient of numerous 

awards including the Vaughan Business 

Achievement Award, ICCO Business 

Excellence Awards, and the BOMA 

Canada Pinnacle Award promoting 

service excellence in the Commercial 

Real Estate Industry. 

Forest Group continues to expand 

and grow. Recently, the company 

introduced the SmoothRide solution 

to Ontario. Originally engineered 

for large road and highway paving, 

Forest Contractors Ltd. have adopted 

the technology for use in parking lot 

paving. SmoothRide enhances the 

removal of old asphalt, significantly 

minimizing the disposal of millings and 

reducing the use of excess asphalt. This 

approach extends the asphalt’s lifespan, 

eliminates deficiencies, and optimizes 

efficiency, resulting in less overall waste 

per project. The SmoothRide solution 

is an environmentally responsible 

option for property owners who value 

sustainability and cost savings. 

As they did years before by using 

the Combination Roller, Forest Group 

have once more proved themselves as 

initiators of innovative technology in the 

paving and asphalt industry. 

CELEBRATING THIRTY YEARS 

Forest Group recently celebrated their 

thirty years of service with family, 

friends, and clients in Vaughan, 

sharing many success stories 

from the past three decades. Domenic 

and his team recognize that the 

unwavering support of their employees, 

clients, partners and community are 

the backbone of Forest’s continued 

success. The anniversary celebration 

was an incredible evening that reignited 

the flame of future ambitions, 

and gratitude for past achievements. 

THE QUESTION FOR DOMENIC 

GURRERI IS, WHAT COMES NEXT? 

Specializing in asphalt paving and 

concrete construction, the Forest Group 

offer extensive and diverse services 

and solutions for initial construction, 

maintenance and repair. Results-driven 

and client-focused, Forest Group 

builds strong, sustainable foundations 

to protect our client’s investment for 

today and for the future. 

To book a visit with a site 

representative, or to find out more, 

please contact 416-951-2159 or visit 

www.forestgroup.ca.

COVER STORY >> 

RISE OF THE RO 

STREET CORRI 

GWLRA announces plans for a 2-tower rental 

development in Vancouver’s West End 


BSON 

DOR 

By Erin Ruddy 

The aging buildings of Robson Street in Vancouver’s West End have a long history of 

serving as storefronts for an array of fashion retailers, from boutique luxury shops 

to renowned global brands. But like many popular shopping destinations, the oncethriving 

corridor has faced its share of challenges since the heydays of the 80s and 90s, 

including changing consumer preferences, exorbitant lease rates, and buildings that 

have noticeably weathered over time. 



In 2014, the City of Vancouver launched a 

formal plan to revitalize the area in an attempt 

draw back businesses, improve livability, 

and create new housing for residents 

of all income groups. With these efforts, 

the West End will continue to blossom into a 

diverse, walkable neighbourhood, offering 

world-class parks and beaches, a vibrant social 

scene, and a wide range of restaurants and 

commercial services. 

No stranger to the Robson Street corridor, 

GWL Realty Advisors (GWLRA) acquired a 

development site for a boutique-style building 

known as “Chronicle” in 2016. The 21-storey 

market rental tower at 825 Nicola Street 

officially opened in 2021, adding significant 

new rental stock to the Lower Robson 

neighbourhood. 

As the first Robson Street rental project 

approved under the City’s West End 

Community Plan, Chronicle captured a lot of 

attention and its units leased-up with ease. 

Since then, GWLRA has purchased two new 

adjacent sites at 1555 and 1525 Robson Street 

that are collectively zoned to accommodate 

400 purpose-built rental units and 40,000 

square feet of retail density. 

According to Geoff Heu, Vice President, 

Development Service, Western Canada, these 

latest acquisitions align with the company’s 

long-term strategy to help ease Vancouver’s 

housing shortage and bring quality rental 

inventory to a neighbourhood lacking supply. 

Most of the rental stock on Robson Street is 

decades-old and inadequate for the influx of 

new residents—but GWLRA saw the potential 

with its proximity to Stanley Park, host of 

shopping amenities, and the Central Business 

District (CBD), when it set out to create 

Chronicle eight years ago. 

“Since then, we have been strategically 

focused on securing additional opportunities 

for development in the West End, and 

specifically on the Robson Street corridor,” he 

said. “Continued development and a renewed 

rental inventory will lead to a more diversified 

housing supply for the community and bring 

in new residents—which in turn, will help 

local businesses thrive while creating further 

retail amenities in the future. We anticipate 

this renewal will have a positive impact on the 

success of the already-popular retail corridor.” 

A neighbourhood focal point 

Projected to break ground in late 2025, the 

two adjacent sites purchased by GWLRA for 

the same investor client in 2023 and 2024, will 

allow for a two-tower, mixed-use project that 

Heu anticipates will act as a focal point and a 

neighbourhood hub. 

“The two residential rental towers with 

approximately 200 units a piece will offer 

much-needed rental housing options and 

a host of amenities aimed at delivering an 

elevated resident experience,” he said. “It will 

be one of the few new rental projects along 

the Robson corridor, bringing additional life 

and animation to the area.” 

Meanwhile, the 40,000 square feet, twostorey 

commercial podium will help improve 

the streetscape and offer a variety of new retail 

options, including a potential new grocer and a 



host of other, smaller scale, pedestrian-oriented 

retailers. 

According to Heu, GWLRA had a development 

permit application in progress for a 193-unit 

residential tower for the first site acquired in 2023 

and were working through the entitlement process 

with the City prior to acquisition of 1555 Robson 

in April. That application has since been put on 

hold while the team redesigns for a consolidated 

project on the larger site. The project is expected 

to proceed through the City entitlement process 

for the next twelve months before construction 

kicks off in the second half of 2025. 

“We are excited about the opportunity 

to combine 1555 Robson with our client’s 

neighbouring ownership position,” added 

Steven Marino, Executive Vice President, Portfolio 

Management, GWLRA. “The combined site 

represents a rare, scaled opportunity in one of 

Canada and North America’s most attractive and 

dynamic markets.” 

About the West End 

The West End is situated between West 

Georgia Street, Burrard Street, Stanley Park, and 

English Bay. It includes the Davie Village—the 

Chronicle, GWLRA’s first purpose-built apartment on Robson Street. 

city’s lesbian, gay, bisexual, transgender, and 

queer (LGBTQ) community—and Denman 

Street, which provides local shopping, services, 

and restaurants. Robson Street is known as 

the higher-end shopping district and main 

thoroughfare to the downtown core. According 

to the latest data, the West End community is 

home to approximately 48,000 residents, the 

majority of which are renters. 

For more news and updates, visit: GWL 

Realty Advisors 



COMBINING ILS, 

WEBSITES, AND SEO FOR 

APARTMENT MARKETING 

by Peter Altobelli, Vice President and General Manager, Yardi Canada Ltd. 

The Canadian multifamily market remains strong, with national vacancy rates hitting a low 2.9% as per 

the Q1 2024 Yardi multifamily report, creating fierce competition among renters. When searching for their 

future rental, 92% of Canadian renters prefer a property specific website as their main online touchpoint 

while 76% find internet listing services (ILS) as still important, as stated by simplydbs. In today’s dynamic 

rental market, a comprehensive and integrated marketing strategy is essential for attracting and converting 

quality renters. This article explores three key digital strategies— ILS, property websites, and search engine 

optimization (SEO)—and how to leverage their strengths for optimal results. 

ILS: Raising Awareness and Visibility 

ILS are online platforms that aggregate apartment listings from various 

communities. While their lead conversion rates (CR) might be lower 

than SEO, they are crucial for early-stage visibility. Listing on popular ILS 

platforms lets you reach a wider audience of potential renters actively 

searching for apartments, expanding your tenant pool. A 2024 Yardi 

ILS survey revealed 78% of Canadian renters view interior apartment 

photos as most influential, most find virtual tours valuable but 88% 

prioritize individual floor plans. 

Property Websites: Converting Visits into Leases 

Your property website serves as your online presence and should be 

designed to turn quality visitors into leads and into leases. A recent 

Yardi property website study showed five features that help encourage 

prospects to take the next step: Live video tours achieve 36.03% CR, 

nudge marketing yields 15.64% CR, floor plan assistants help users to 

filter based on their desired features, floor plan availability notifications 

CRs exceed 11% and digital leasing that offers secure online screening 

options. 

SEO: Building a Long-Term Foundation 

SEO focuses on improving your website’s ranking in search engine 

results pages for relevant keywords. This involves optimizing both the 

content and structure of your website. While SEO requires consistent 

effort and takes time to show results, it offers a sustainable source of 

low-cost leads in the long term. To optimize your website for SEO: 

• Keyword research: Update your website content to include page 

titles, headings and key words renters often use when searching for 

apartments in your area. 

• Mobile-friendly design: Ensure your website is mobile-friendly 

as many potential renters use their smartphones to search for 

apartments. 

• Online reviews: Leverage positive reviews from your residents 

to significantly boost your local SEO ranking and build trust with 

potential renters. 

Strategy for Success 

Each approach offers distinct advantages: 

• ILS: Reaches potential renters early in their search and boosts awareness. 

• Website: Converts visitors into leads and fosters stronger brand 

engagement. 

• SEO: Generates consistent traffic and leads over time. 

By strategically balancing ILS, your website, and SEO, you can create 

a powerful marketing force that generates consistent leads, increases 

brand awareness, and ultimately, drives successful leases. Remember, 

continuously monitor and adapt your strategy based on your target 

audience and market dynamics to ensure you stay ahead of the curve. 

To learn more about your marketing technology options, visit 

reachbyrentcafe.com. 


IN THE CANADIAN 

APARTMENT INDUSTRY 

MANAGE ONLY 

Metcap Living Management 

Inc. 20,668 

Cogir Real Estate 19,634 

Greenwin Corp. 18,958 

Sterling Karamar Property 

Management 

17,155 

The DMS Group 13,733 

Briarlane Rental Property 

Management 

11,512 

Devon Properties Ltd. 11,021 

GWL Realty Advisors 10,203 

Berkley Property 

Management Inc. 

CERTIFIED 

RENTAL 

BUILDING 

NUMBER OF 

7,660 

Tribe Management Inc. 6,161 

CERTIFIED 

UNITS OWN ONLY 

RENTAL NUMBER OF 

MANAGE & OWN CERTIFIED 

UNITS 

RENTAL 

BUILDING 

H&R REIT 8,332 

Globe Capital Management 8,089 

Crestpoint Real Estate 

Investements Ltd. 

3,676 

Dream 2,154 

I.G. Investment 

Management Ltd 

1,673 

Fiera Real Estate 1,623 

Westcliff 1,350 

Oxford Properties Group 1,334 

Bedford Properties & 

Estates Ltd. 

1,100 

SmartCentres REIT 1,078 

BUILDING 

NUMBER OF 

UNITS 

Starlight Investments 53,422 

Canadian Apartment 

Properties REIT 

47,300 

Boardwalk REIT 33,722 

Homestead Land Holdings 

Limited 

26,626 

Hazelview Investments Inc. 24,210 

Realstar Management 23,834 

Skyline Apartment REIT 22,036 

Centurion Asset 

Management 

19,568 

Killam Apartment REIT 18,835 

Mainstreet Equity Corp 17,617 

#1RANKED APARTMENT 

MANAGEMENT COMPANY 

MetCap Living knows the importance of your property investment. With over 20 36 years in 

professional property management and experience in owning and managing all aspects of 

multi-unit housing, we have the expertise to boost your NOI. From Marketing, Leasing, Utilities 

and Site Management, Collections and Accounts Receivable, 

we tailor our services to your needs. 

We manage over $1 $4 Billion in assets owned by private families and 

institutional investors. Our focus is on revenue growth and vacancy 

reduction, while maintaining maintainting strict control over expenses. We also 

have three engineers on staff for those difficult capital projects! 

To ensure the health of your bottom line, contact: 

Stacey Kazi Shahnewaz, Kurck – Director, Business Development 

Office: 416. 340.1600 x504 | Cell: 647.887.5676 

Cell: k.m.shahnewaz@metcap.com 

416-894-2377 

Stacey.Kurck@MetCap.com 

www.metcap.com 


CANADIAN APARTMENT WHO’S WHO 2024 

RANK 

CERTIFIED RENTAL 

BUILDING 

UNITS 

BUILDINGS 

MANAGE OWN BOTH TOTAL MANAGE OWN BOTH TOTAL 

1 Starlight Investments 53,422 53,422 907 907 

2 Canadian Apartment Properties REIT 47,300 47,300 

3 Boardwalk REIT 263 33,722 33,985 

4 Homestead Land Holdings Limited 26,626 26,626 205 205 

5 Hazelview Investments Inc. 484 24,210 24,694 3 254 257 

6 Realstar Management 23,834 23,834 167 167 

7 Cogir Real Estate 19,634 4,038 23,672 36 36 

8 Skyline Apartment REIT 22,036 22,036 243 243 

9 Centurion Asset Management 1,498 19,568 21,066 144 144 

10 Greenwin Corp. 18,958 2,074 21,032 174 18 192 

11 Metcap Living Management Inc. 20,668 20,668 

12 Killam Apartment REIT 18,835 18,835 220 220 

13 Mainstreet Equity Corp 17,617 17,617 837 837 

14 Sterling Karamar Property Management 17,155 17,155 194 194 

15 Avenue Living Communities 15,747 15,747 913 913 

16 Northview Residential REIT 14,422 14,422 

17 InterRent REIT 1,152 12,756 13,908 

18 The DMS Group 13,733 13,733 147 147 

19 Medallion Corporation 11,629 11,629 86 86 

20 Briarlane Rental Property Management 11,512 11,512 157 157 

21 Park Property Management Inc. 11,245 11,245 91 91 

22 Devon Properties Ltd. 11,021 11,021 214 214 

23 GWL Residential 1,068 359 9,278 10,705 9 6 35 50 

24 GWL Realty Advisors 10,203 10,203 54 54 

25 Drewlo Holdings Inc. 10,098 10,098 83 83 

26 H&R REIT 8,332 8,332 

27 Morguard 70 8,137 8,207 26 26


RANK 


BUILDING 

UNITS 

BUILDINGS 


28 Globe Capital Management 8,089 8,089 81 81 

29 Minto Properties Inc. 783 7,194 7,977 13 172 185 

30 Berkley Property Management Inc. 7,660 50 7,710 89 2 91 

31 BentallGreenOak 2,048 4,532 6,580 14 22 36 

32 Oxford Properties Group 1,334 4,969 6,303 4 16 20 

33 Tribe Management Inc. 6,161 6,161 127 127 

34 Shelter Canadian Properties Limited 5,281 725 6,006 29 5 34 

35 Osgoode Properties 299 266 5,125 5,690 1 1 86 88 

36 Prospero International Realty Inc. 5,095 5,095 114 114 

37 Concert Properties Ltd 167 4,573 4,740 2 24 26 

38 M&R Holdings 4,526 4,526 36 36 

39 Kelson Group 4,269 4,269 61 61 

40 

Williams and McDaniel Property 

Management 

4,019 4,019 138 138 

41 Old Oak Properties Inc. 3,704 3,704 25 25 

42 Crestpoint Real Estate Investements Ltd. 3,676 3,676 46 46 

43 Lameer Management Inc. 2,435 565 3,000 112 26 138 

44 Manulife Investment Management 1,571 1,105 2,676 

45 Colliers 2,502 2,502 43 43 

46 O'Shanter Development Company Ltd. 349 2,040 2,389 3 25 28 

47 Apollo Property Management Ltd. 2,244 2,244 19 19 

48 Brown Group of Companies Inc., The 671 1,553 2,224 9 10 19 

49 Dream 2,154 2,154 18 18 

50 Equium Group 1,920 69 1,989 29 5 34 

51 WJ Properties 1,938 1,938 14 14 

52 Melchior Management 777 Corporation 131 1,791 1,922 0 

53 Rancho Management Services 1,690 210 1,900 25 3 28


RANK 


BUILDING 

UNITS 

BUILDINGS 


54 Greenrock Property Management Ltd. 1,886 1,886 7 7 

55 Shindico Realty 789 1,049 1,838 15 11 26 

56 Provincial Property Management Limited 1,800 1,800 28 28 

57 ONE Property Management LP 1,787 1,787 4 4 

58 Pacific Quorum Properties Inc. 1,769 1,769 108 108 

59 

Lawrence Construction/Grant 

Management 

718 1,043 1,761 7 15 22 

60 I.G. Investment Management Ltd 1,673 1,673 9 9 

61 Sourthwest Properties Ltd. 1,639 1,639 30 30 

62 Fiera Real Estate 1,623 1,623 17 17 

63 AWM Alliance Real Estate Group Inc 1,596 1,596 21 21 

64 Twin City Management Ltd. 1,592 1,592 73 73 

65 Avison Young 1,556 1,556 

66 Westcorp Property Management 520 897 1,417 1 4 5 

67 Dorset Realty Group Canada Ltd. 1,374 1,374 92 92 

68 Preston Group 1,367 1,367 5 5 

69 Niot Investments Holdings Ltd. 1,350 1,350 21 21 

70 Westcliff 1,350 1,350 105 105 

71 RioCan 1,306 1,306 

72 BlueStone Properties Inc. 1,275 1,275 13 13 

73 Epic Investment Services 1,229 1,229 

74 Davpart Inc. 1,180 1,180 15 15 

75 Atlantis Realty Services, Inc. 1,161 1,161 15 15 

76 CaraCo Property Management Ltd. 1,120 1,120 15 15 

77 State Building Group 1,111 1,111 15 15 

78 Bedford Properties & Estates Ltd. 1,100 1,100 29 29


RANK 


BUILDING 

UNITS 

BUILDINGS 


79 SmartCentres REIT 1,078 1,078 3 3 

80 Warrington PCI Management 1,066 1,066 20 20 

81 Bayshore Property Management 1,051 1,051 46 46 

82 Transpacific Realty Advisors 1,000 1,000 25 25 

83 Colonnade BridgePort 969 969 8 8 

84 Anthem Properties Group Ltd 895 895 10 10 

85 NexLiving Communities Inc. 867 867 

86 

Lanesborough Real Estate Investment 

Trust 

822 822 12 12 

87 Jones Lang LaSalle Real Estate Services 800 800 

88 Choice Properties REIT 772 772 

89 Healthcare of Ontario Pension Plan Inc. 755 755 3 3 

90 Arnon Corporation 640 640 5 5 

91 

Equitable Real Estate Investment 

Corporation Ltd. 

616 616 29 29 

92 Compass Commercial Realty LP 574 574 8 8 

93 Narland Management 570 570 2 2 

94 Shape Property Management Corp. 537 537 2 2 

95 Real Estate 360 Property Advisory 526 526 11 11 

96 Royal/Kente Property Management 500 500 35 35 

97 Gulf Pacific Property Management Ltd. 421 421 5 5 

98 Goodwood Property Investment Ltd. 400 400 3 3 

99 Lionheart Property Management Inc. 400 400 

100 Canlight Management Inc. 350 36 386 4 1 5 

101 SolutionCondo/Rentalys Solution 378 378 36 36 

102 Canahahns Company Limited 367 367 5 5 

103 CPP Investments 328 328


RANK 


BUILDING 

UNITS 

BUILDINGS 


104 Sluis Properties 177 177 8 8 

105 Canadian Urban Limited 166 166 2 2 

106 Glenview Management Limited 145 16 161 1 1 

107 Atlas Properties 139 139 1 1 

108 Goldview Property Management Ltd. 108 108 4 4 

109 Summa Property Management 94 94 3 3 

110 Gitalis Group Inc. 80 80 

111 Taft Management Inc. 78 78 6 6 

112 Virtus Diversified REIT 73 73 1 1 

113 Downing Street Property Management Ltd 66 66 3 3 

114 Nicola Institutional Realty Advisors 60 60 1 1 

115 Dayhu Investments Ltd. 49 49 

116 Regency Group 30 30 

117 Skywater Property Management 30 30 

118 Nadlan-Harris Property Management Inc. 22 22 

32 | Canadian Apartment | Part of the REMI Network | 


NEWSWORTHY >> 

Industry Hot Topics 

CAPREIT to retrofit 60 rental buildings 

CAPREIT has received approval on a $70-million loan through the 

Canada Infrastructure Bank (CIB) to finance deep energy and 

decarbonization upgrades at select rental buildings across Canada. 

The retrofit projects are expected to result in the significant reduction 

of greenhouse gas (GHG) emissions annually, while benefiting residents 

living in approximately 14,000 suites. Building upgrades include energy 

recovery among various mechanical systems, installation of highefficiency 

electric heat pumps, as well as building automation systems, 

lighting retrofits and sub-metering. 

“As a leader in affordable rental housing, CAPREIT is also working to 

reduce the carbon footprint of its properties across the country,” said 

Sean Fraser, Minister of Housing, Infrastructure and Communities. 

“The energy retrofits to CAPREIT’s rental properties will reduce 

energy costs and make them safer and more comfortable for 

their tenants across Canada. Through the CIB’s Building Retrofits 

Initiative, CAPREIT is doing its part to help us achieve our goal of 

net-zero by 2050.” 

The CIB loan, which is part of its Building Retrofits Initiative, helps 

to close economic gaps associated with deep energy retrofit projects 

that are not typically economically viable with traditional sources 

of capital. The loan contains tenant protections which prevent rent 

increases and the imposition of additional utility burdens on existing 

building residents. To date, the CIB has invested more than $1.2 billion 

in sustainable building retrofits across the country. 

“Working with CAPREIT to fund deep energy and decarbonization 

retrofit projects will help improve the living experience for 

thousands of their residents in Canada,” said Ehren Cory, CEO, 

Canada Infrastructure Bank. “The CIB’s loan will also help to tackle 

the reduction of a key source of greenhouse gas emissions, which 

is essential to contributing to the achievement of Canada’s climate 

change goals.” 

According to CAPREIT, these retrofit projects will help reduce 

energy costs and make the buildings “safer and more comfortable” 

for tenants; they will also help the company achieve its net-zero goal 

by 2050. 

“We’re thrilled to have been able to partner with the CIB and 

participate in their Building Retrofits Initiative, an important program 

in place to benefit both residents as well as the environment through 

projects that wouldn’t have been financially feasible otherwise,” 

said Mark Kenney, President and CEO of CAPREIT. “This loan will 

enable us to proceed with retrofitting approximately one-third of 

our existing Canadian apartment portfolio, which will significantly 

reduce its carbon emissions annually. Through the CIB, we’re pleased 

to be contributing to the achievement of Canada’s climate-change 

commitments while also making meaningful progress on our own, 

and we’re excited to continue this vital energy conservation work. 

CAPREIT remains proud to be a provider of affordable housing for 

Canadians.” 


NEWSWORTHY >> 

Budget Implementation Act 

prioritizes measures to help renters 

Introduced May 3rd, Canada’s Budget Implementation 

Act, 2024, is a significant piece of new legislation that aims 

to advance key housing priorities outlined in Budget 2024. 

The government says the goal of the Act is to “make the 

housing market fairer for renters and first-time home buyers 

by advancing measures that will ultimately help improve 

market conditions, such as introducing harsher penalties for 

illicit short-term rental operators and launching a $50 million 

short-term rental enforcement fund. 

“For too long, renters and first-time home buyers haven’t 

been getting a level playing field,” Trudeau said. “We’re 

changing that. With Budget 2024, we’re cracking down on 

short-term rentals and foreign home buyers, giving more 

power to renters and first-time home buyers, and making 

the housing market fairer for every generation.” 

Budget 2024 also includes a proposal to make rental 

payment history count towards Canadians’ credit scores. In 

other words, for tenants with a long track-record of paying 

their rent in full and on time, that history may be counted 

toward their credit score, helping them secure better 

mortgage rates when the time comes to buy a home. 

“Our budget is about fairness for every generation, 

especially for Millennials and Gen Z,” said Chrystia Freeland, 

Deputy Prime Minister and Minister of Finance. “It is made 

up of real, tangible measures that are going to help more 

younger Canadians get those first keys of their own. We’re 

acting now because the cost of inaction today would be 

borne chiefly by younger Canadians – and we will not leave 

them behind.” 

Windmill Development gets 

One Planet Living nod 

W 

indmill Development Group has been named a Global Leader under 

the One Planet Living (OPL) framework, securing a rare distinction 

seldom accorded to a corporate entity. The newly bestowed status 

recognizes Windmill’s alignment with OPL’s 10 principles for social fulfillment 

with minimized environmental impact, its record of developing sustainable 

residential and mixed-used projects and its role in fostering impact 

investment in real estate. 

“A Global Leader shows potential for far-reaching systemic change and 

is taking steps to actively inspire others in their industry to follow suit,” 

advises Sue Riddlestone, chief executive and co-founder of Bioregional, the 

sustainability consultancy that devised One Planet Living in partnership with 

the World Wildlife Fund. “Windmill has embedded One Planet Living into its 

culture more deeply than any other company, and they are encouraging their 

partners and the wider industry to follow suit.” 

Among its previous achievements, Windmill developed Canada’s first 

certified LEED Platinum community, Dockside Green, and Canada’s first 

One Planning Living endorsed masterplan community, Zibi. Although the 

Global Leader designation is typically conferred to individual projects rather 

than companies, Windmill is commended for its consistent application of 

expected performance standards, including 100 per cent combustion-free 

new construction, embodied carbon targets in line with the Canada Green 

Building Council’s zero-carbon building requirements and 90 per cent 

diversion of construction waste from landfill. 

The One Planet Living framework is grounded on principles of health, 

happiness and equity; support for the local economy, culture and community, 

including local and sustainable food; land and nature; sustainable water; 

sustainable travel and transport; zero waste; and zero carbon energy. 

“We believe in this framework because it puts people at the centre,” 

affirms Jeremy Reeds, president of Windmill Development Group. “It 

helped us look holistically at Windmill’s business to ensure our sustainability 

practices positively impact residents’ health and happiness in tandem with 

the environment.” 


NEWSWORTHY >> 

“The Creek” rental project kicks off in 

Port Moody 

Edmonton ranks 1st as relocation choice 

Located at 296 Angela Drive in Port Moody, BC, The Creek 

affordable rental housing project is now underway, thanks in 

part to a combined investment of $200 million from the provincial 

and federal governments. The Creek is the first phase of a much 

larger, multi-phase development called Portwood, which will 

be Port Moody’s first master-planned community since 2004. 

The redevelopment will take place over the next 15 to 20 years, 

transforming the site into a vast, mixed-use development with an 

innovative mix of housing, two new city parks, childcare spaces, and 

retail stores. 

The Creek—a partnership between the federal government, 

the province of BC, EDGAR Development, the City of Port Moody, 

M’akola Housing Society, and Entre Nous Femmes Housing 

Society—will be operated by M’akola Housing Society in partnership 

with Entre Nous Femmes Housing Society. BC Housing, through the 

Provincial Rental Housing Corporation, will own the apartments and 

will lease them to M’akola for a nominal fee over a 60-year term. 

“With the building of these 328 below-market homes, more 

people in the community will have access to homes within their 

reach, bringing more peace of mind and stability in their lives,” said 

Ravi Kahlon, BC Minister of Housing. “We know that high costs of 

housing are currently taking a toll on many people in Port Moody 

and throughout B.C., and these homes will provide relief to people 

so they can thrive in the community they call home.” 

The Creek will include three six-storey apartment buildings with 

one-, two- and three-bedroom homes. Sixty-six of these homes will 

be fully accessible and 166 will be adaptable for future accessibility 

needs. Rental rates will be determined closer to the opening of the 

buildings; however, the government maintains they will be offered 

at below-market rates. 

“The peace of mind that comes with having a secure and stable 

home is invaluable,” said Ken Hardie, Member of Parliament for 

Fleetwood-Port Kells. “This is why the federal government is glad 

to support the creation of these 328 new units, which will provide 

families, seniors and Indigenous peoples in Port Moody with 

affordable and quality housing. Everyone deserves a safe place 

to call home, and through the National Housing Strategy, we are 

committed to making that a reality for all Canadians.” 

Completion of The Creek is expected in late 2026. Residents will 

be selected through the M’akola Housing Society and Entre Nous 

Femmes Housing Society’s application process in unison with the 

BC Housing Registry. 

Edmonton is the top-ranking relocation destination among 

residents in the Greater Toronto Area and Greater Vancouver. A 

survey from Royal LePage found 19 per cent of respondents from each 

area shared this sentiment, with Quebec CIty ranking second. 

The survey of 900 Canadians was conducted by Hill & Knowlton in 

mid-May 2024, with affordability and cost of living emerging as the 

main factors influencing their choice. 

“There’s an old saying in real estate, ‘drive until you qualify,’” 

said COO Karen Yolevski, “As housing affordability continues to 

deteriorate and Canadians face increasingly higher barriers to entry 

when buying a home, this adage is becoming more of a reality. Many 

aspiring homeowners in the country’s largest and priciest urban 

centres are seriously considering relocating to less expensive cities in 

order to get a foot on the property ladder. 

WE 

UNDERSTAND 

INSURANCE BROKERAGE & RISK 

MANAGEMENT SERVICES FOR BUSINESS 

We bring years of experience. 

Speak to a trustworthy professional today. 

905-271-2070 | www.takecover.ca 

92 Lakeshore Rd. East, 2nd Floor, Missisauga, ON L5G 4S2 

Mr. Andreas Schwartze, BSc, MBA, CIP | andy@takecover.ca 



MAXIMIZING 

THE RESIDENT EXPERIENCE THROUGH 

ADVANCED ACCESS CONTROL SYSTEMS 

In the multifamily housing market, maximizing the resident 

experience is pivotal to a community’s success. Tech is 

revolutionizing the way multifamily operators evaluate, plan for 

and deploy access control. Building owners and managers should 

prepare for the new era of keyless, mobile-ready, technologically 

advanced and significantly more secure solutions that are now 

available to the multi-residential market. 

The risks and expenses involved with keys are plainly obvious. 

Traditional metal keys were designed to be easily copied by a 

facility manager or locksmith. Today, anyone can walk into a home 

improvement store or go on the Internet and copy a physical key— 

even through a simple photo. By adopting modern access control 

systems, buildings can operate more securely, residents will feel 

safer, and management can increase productivity. They can also 

significantly improve the bottom line. 

Over the last five years, there have been massive investments 

made in the proptech market—electronic access control included. 

Across Canada, many people already use the digital wallets and 

apps on their smartphones to buy groceries, order food or book a 

ride, now they can use them to access their apartment units. 

INTRODUCING SALTO’S DBOLT TOUCH 

Earlier this year, Salto launched the Salto DBolt, a product designed 

and purpose-built for the multifamily industry to serve as a viable 

replacement to the age-old standard—the mechanical deadbolt. The 

Salto DBolt is a simple 1-for-1 replacement for existing deadbolt locks; 

it installs in minutes using the same hole and requires no wiring. 

This means it is incredibly easy and quick to retrofit all or portions of 

a property, and it offers infinitely greater control over access. 

FUTURE INNOVATIONS AND A COMMITMENT TO 

MULTIFAMILY HOUSING 

Many property management firms face the challenge of servicing 

and maintaining disparate locking systems running on outdated 

software platforms across their portfolio, this often comes with 

exorbitant costs and logistical headaches. Retrofitting buildings 

with next-generation access technology can streamline operations, 

simplify building and facilities management and significantly 

reduce expenses—often in a shorter payback time than expected. 

It’s not a simple rip-and-replace proposition though. When 

planning or undertaking a retrofit project for an existing property, 

consideration must be given to integrating the access systems with 

the existing property management platform along with any thirdparty 

systems—this is crucial to the project’s success.

Operating on Salto’s proprietary SVN (Salto Virtual Network) 

technology, the SVN allows locks to communicate through user 

credentials such as key cards, key fobs, or smartphones. This 

proprietary “Data-on-Card” approach means there is no need for the 

individual locks to be connected to the internet, since information 

is transferred through the access credential rather than the lock 

itself. This innovative approach reduces the need for expensive and 

disruptive installations, making it easier for property managers to 

upgrade their buildings. 

SVN allows the lock to communicate through a user’s credential. 

“Users take information to the lock on the memory of their credential, 

whether it’s a key card, a key fob or their phone,” explains Preston 

Grutzmacher, Residential Business Leader for Salto North America. 

“What this means for retrofits, is there’s no need to incur the 

expense of a wireless infrastructure gateway. For a Salto retrofit, we 

simply have one of our Authorized Business Partners go in, take out 

the old deadbolts and install the new DBolt locks. The installation is 

complete, and there’s almost no disruption.” 

Sometimes retrofit building systems or hardware can look forced, 

like an afterthought, or worse, the cover up of a previous mistake. 

Salto’s product design team understands the importance of branding 

and design in multifamily marketing, which helps properties 

differentiate within their markets. With a sleek design and multiple 

finish options, which fit into both classic and contemporary design 

schemes, the DBolt easily blends with the look, feel and character of 

most apartment communities. 

Introducing a product like the DBolt to residents who have been 

living with antiquated deadbolts and mechanical keys can go a 

long way to increasing resident satisfaction and retention rates. 

Offering modern access control that enhances both their security 

and convenience, creates a more seamless living experience. 

Additionally, advanced features allow residents to send temporary 

access credentials to their visitors, deliveries and services providers. 

Residents can easily monitor entries to their residence via a mobile 

application, further enhancing their sense of security and control. 

With a focus on seamless integrations and future-proof technology, 

Salto has created a new standard for property management in the 

multifamily housing market. “The goal is to let people in—in a safer, 

more convenient and smarter way”, says Grutzmacher. 


SEAMLESS INTEGRATION WITH PROPERTY MANAGEMENT 

SYSTEMS 

From the main entrance, to stairwells, garages, or elevators, as 

users move throughout a building they’re tapping various locks for 

entry. Each time they tap, the credential exchanges information 

with that lock. When they access a wired reader, all events which 

have been collected on the credential are updated to give a true 

audit statement of the user’s movements. 

“Information is stored on a credential’s memory, similar to using 

a USB thumb drive,” says Grutzmacher. “The next time I use it at 

a wired access control point—say, the main entry at the elevators 

or the garage—it doesn’t just transfer information about that 

one event, it exchanges information about every access event you 

initiated and every access event that any other user who accessed 

those locks attempted. The wired access control points update 

not just secure access, but also update memory credentials and 

bring memory from locks.” 

Salto’s can also integrate resident data from PMS systems, 

automating move-ins and move-outs, significantly reducing 

administrative workload. “In an apartment, one of the most 

important things is to integrate into their existing property 

management systems,” he says. “Through either Salto Tech partners 

or through our platforms, we can pull resident data from property 

management systems—tools that property managers are using 

every day—to completely automate resident moves in and out.” 

DIVERSE HARDWARE FOR VARIED NEEDS 

Salto offers a wide range of smart locking hardware to 

accommodate every access point and meet a variety of different 

use cases within a multifamily building. From weather-resistant 

locks for pool gates to high-usage locks for main entrances, Salto’s 

diverse portfolio ensures that each access point is appropriately 

secured. Most locks operate on off-the-shelf batteries, supporting 

between 50,000 to 120,000 access cycles, equating to several years 

of operation before needing a battery replacement. 

The company has also introduced Salto Homelok, a cloud-based 

all-in-one access solution custom-designed for the residential 

and multifamily market. With Homelok, property managers can 

easily facilitate access to every door and access point in the entire 

community from an intuitive, user-friendly interface, and monitor 

systems live on a 24/7 basis. 

Also from Salto is the enigmatic and futuristic lock system known 

as Salto’s Ælement Fusion. With an extreme minimalistic aesthetic, 

the Salto Ælement Fusion is the “pinnacle” of Class A luxury living. 

Salto continues to champion innovative-thinking and is a leader 

in access control technology, offering unparalleled convenience 

and security. The future is ready to unlock. To learn how your 

building can benefit, visit saltosystems.ca.

Pathway to a Better Future 

Daniels’ Home Investment Program 

(HIP) helps tenants save for first home 

by Erin Ruddy 

The Canadian real estate landscape has changed significantly since the early 2000s, back when buying 

a home was achievable for almost anyone with steady employment. Today, homeownership in markets 

like Vancouver or Toronto is nearly impossible unless buyers are prepared to spend a fortune on a 

downpayment and the rest of their lives drowning in debt. 

“ 

Employment rates have not kept pace 

with the growing demand for jobs, 

post-pandemic,” observes John Hickey, 

Senior Director, Residential Asset Management 

and Property Management at The Daniels 

Corporation. “Mortgage rates have seen a 

sharp increase, as well as job turnover rates. 

Income uncertainty is more prevalent now than 

it has been in the past. These conditions have 

created affordability pressures for all age groups, 

but mostly for younger families and millennial 

professionals who are finding it challenging to 

transition from renting to homeownership.” 

Combined with the housing supply shortage, 

affordability constraints are forcing existing renters 

to remain in their units longer; meanwhile, rising 

immigration and changing attitudes about renting 

are contributing to the heightened demand. Data 

shows that, increasingly, Canadians are choosing 

to live alone or with a roommate, resulting in a 

noticeable decline in turnover rates—and for the 

cohort that does want to invest in their own home, 

the exorbitant cost of housing isn’t making the 

transition easy. 

Enter Daniels’ Home Investment Program 

(HIP), a unique program designed to help tenants 

create a pathway to future homeownership. 

Open to all residents of Daniels’ Gateway Rental 

Communities, tenants are invited to accumulate 

HIP dollars towards the purchase of a new Daniels 

home. 

As Hickey explains it, “After renting a Daniels 

home for twelve months, Gateway tenants get 


FEATURE >> 

a certificate for $6,000, which can be applied 

towards the purchase of any new Daniels home. 

If they are not quite ready to buy at that point, 

no problem—they can continue collecting 

$500 HIP Dollars per month to a maximum of 

$25,000.” 

The program launched in 1999 when the first 

Gateway Rental Communities opened in the 

GTA. Since then, over 4,550 rental residents 

have been automatically enrolled, with no 

pressure to opt-in or commit to buying a home 

at any point along the way. 

“Our footprint extends beyond traditional 

home-building,” Hickey says. “Daniels exists 

to build inclusive and sustainable communities 

to create a better future for all. We harness our 

influence for positive change, demonstrating 

that development can be a force for good 

through impactful partnerships with not-forprofit, 

government, institutional, and privatesector 

entities.” 

Other innovative programs and services 

In addition to HIP, Daniels Gateway Rental 

Communities offers an array of programs and 

services to meet the needs of a wide range 

of residents. For its high-rise tenants, Daniels 

offers the Amenity Activation Program, which 

brings people together for cultural celebrations 

and art exhibits on a regular basis. 

In 2023, Daniels partnered with Kinder 

College Early Learning Centre to open a 

daycare on the ground floor of the EVOLV 

rental building in Toronto, with priority 

placement for residents. Today, Hickey says the 

centre is recognized as having one of the best 

early childhood education programs within 

the region, known for its “exceptional care” for 

children ages three months to four years. 

At Uniti, Daniels recently partnered with 

the BlackNorth Initiative (BNI) to create an 

Artist in Residence Program and help remove 

systemic barriers faced by Black artists in 

accessing housing, workspaces, and economic 

opportunities. The program also promotes art, 

culture, and resident engagement. 

Meanwhile, sustainability is engrained into 

each Gateway rental community from the 

earliest design stages. 

“Our low carbon communities reduce 

energy consumption and fossil fuel use, 

thus, futureproofing against climate change 

and mitigating the risk of costly retrofits or 

drastic energy price shocks as the market and 

code shift towards low-emission buildings,” 

Hickey says. “We also launched the Daniels 

Decarbonization Roadmap, an industry-first 

strategy to reduce whole-life carbon emissions 

from our real estate developments.” 

For more info visit: danielsgateway.com 



THE IMPORTANCE OF CLEAN AND 

MAINTAINED GARBAGE ROOMS IN 

MULTI-RESIDENTIAL BUILDINGS 

Waste disposal systems in multi-residential buildings are under 

a great amount of pressure. Every day, residents pack their 

garbage down the interconnecting metal chutes which make up 

a building’s garbage disposal system, culminating in the garbage 

room. Cleanliness and garbage rooms may not instantly seem 

conducive, but the sanitary health of the waste disposal room 

is more important than you think. Here, we learn from the MJW 

Team the importance of ensuring garbage room maintenance is 

never overlooked: 

1. Hygiene & Pests 

“Food waste and household garbage is going down chutes 

unbagged. This is creating problems.” - Frank Spadafora, General 

Manager of MJW Team 

• Health: Dirty trash chutes are a breeding ground for harmful 

bacteria and fungal pathogens which can significantly affect 

resident health. Ensuring a regular cleaning program will 

alleviate this risk. 

• Pest Infestations: If garbage chutes aren’t cleaned regularly, 

the walls get thick with grease and organic matter. This creates 

a food source for pests like cockroaches. If waste collection bins 

and rooms are not thoroughly cleaned, rodents can become 

a problem. Cockroaches, mice and rats are some of the pests 

that can thrive in unsanitary garbage rooms, rapidly breeding. 

A building manager can reduce pest control costs by keeping 

waste management systems clean. 

building staff—the same product that our teams use when onsite 

for scheduled cleanings.” - Albert Perri, Accounts and Business 

Development Manager of MJW Team 

• Unpleasant Odours: Regular cleaning helps control unpleasant 

odours which come from the garbage room making living 

conditions more pleasant for residents and guests. 

• Industrial-Grade Cleaning Products: In-between cleaning 

visits, MJW educates onsite staff on recommended cleaning 

products and odour control methods and provides helpful 

recommendations for day-to-day upkeep. When used properly, 

the industrial-grade cleaning products give your staff the upper 

hand with cleaning garbage areas. Coupled with eco-friendly 

odour control products from shopmjw.com, the dirtiest room in 

the building can be kept clean, safe and hygienic. 

2. Odour Control 

“Every time the garbage is picked up, the bin needs to be washed, 

and not just with water. We provide industrial degreaser to 

BEFORE 

AFTER


3. Equipment Preservation & Fire Safety Systems 

“Regular maintenance and cleaning of a building’s waste system 

allows for essential repairs to be identified and completed before 

they become an issue.” - Frank Spadafora, MJW Team 

• Damage to Equipment: While the first noticeable sign of a 

problem is often the lingering smell from the chute, garbage 

bin, and the garbage room itself, there’s a bigger problem to 

contend with. Grease, oil and residue eat away at the waste 

equipment—that’s when things stop working correctly. In 

addition, the corrosive nature of garbage eats away at floors 

and waterproofing systems. 

• Long-Term Savings: Establishing a regular cleaning regime 

preserves the life expectancy of waste disposal equipment and 

saves on emergency repair and replacement costs. 

• Fire Safety: A building’s garbage disposal system consists 

of a network of garbage chutes which collect garbage from 

building floors and lead it to the garbage compactor. The area 

is protected from fire by a fire damper, a spring-loaded shield 

device at the bottom of the garbage chute which is an essential 

life safety system. “If there’s a fire within the compactor, a 

mechanism within the fire damper melts away releasing a 

spring-loaded door so that the fire is unable to travel up the 

chute,” Spadafora explains. 

4. Maintenance Made Easy 

“Regardless of whether you’ve got a 5-storey or a 60-storey 

building, the condition of the garbage chute remains dirty and 

needs to be maintained.” - Frank Spadafora, MJW Team 

• Waste Equipment Maintenance Plan: For boards and managers, 

a specialized garbage room maintenance plan can ensure 

safer living conditions for residents, cut building maintenance 

costs, and save time. While the biggest complaints around 

garbage might be the smell and infestation concerns, the fire 

safety significance should not be overlooked. MJW offers a 

convenient waste equipment maintenance plan to make things 

easy for busy building managers. 

• Predictable Monthly Fee: Using a predictable monthly fee, 

garbage chute maintenance and odour control can be easily 

built into the property’s annual budget with payments spread 

out during the year. 

• Quality Control and Waste Equipment Inspection: Following a 

cleaning by MJW, a representative will return to the building to 

complete a Quality Control and waste equipment inspection. 

Going floor-by-floor checking chute doors, fire dampers, 

sorters, compactors and bins, MJW will provide a full report 

on the mechanical and sanitary health of the waste control 

equipment. Recommendations for any faulty or damaged parts 

are noted along with quotations for their repair or replacement. 

• Cost Savings: Extending the scope of possibilities, over the 

course of a three-year commitment, MJW maintenance plan 

clients ensure priority booking, and are able to take advantage 

of 10% off any other service offered by MJW, services which 

include underground and parking lot sweeping, washing and 

waterproofing, drains and catch basin cleaning, and parking lot 

striping and painting. 

Establishing a regular maintenance plan with MJW for waste 

disposal systems makes it easy for boards, building owners, and 

managers to focus on matters which really need their attention. 

The services offered by MJW play a crucial role in supporting clean, 

hygienic garbage rooms, positively impacting residents’ health and 

living conditions, and keeping budget costs down. 

MJW Team offers services throughout the Greater Toronto 

Area, London, Ottawa, and Montreal. To learn how the MJW 

team can help service your building, call 416-741-3999 or visit 

www.mjwcanada.ca.

Smart Ideas 

HEALTHY BUILDINGS, 

HAPPY TENANTS 

Introducing the new Fitwell v3 standard 

First launched in 2016, the original Fitwel standard helped countless commercial property owners meet the rising demand for healthy, highquality 

assets. Today, with the release of version 3, Fitwel has introduced new strategies on how to future-proof buildings for climate adaptation, 

while more efficiently addressing the health of real estate assets and maximizing their value. 

The enhanced v3 incorporates new public health research, market trends and industry feedback, while building on the success of version, v2.1, 

which launched in 2018. Fitwel’s v3 also introduces the Smart Scorecard, a simplified digital experience intended to reduce documentation time. 

Overall, there are now eight distinct scorecards and 140 evidence-based strategies that link health and the built environment and prepare 

assets for the rising risks of climate change. These scorecards were improved through extensive user consultation. 

The new version also introduces significant enhancements and updates driven by an extensive analysis of new public health research. 

According to Joanna Frank, Fitwel’s President and CEO, the comprehensive, site-wide engineering rebuild has resulted in a program that will 

help users “meet the rising demand for healthy, high-quality assets while mitigating climate risks, promoting value, and streamlining certification 

for efficiency.” 

ABOUT FITWELL 

Fitwel is a leading certification system, generated by expert analysis of 7,000+ academic research studies. Fitwel is implementing a vision for 

a healthier future where all buildings and communities are enhanced to strengthen health and wellbeing. Fitwel was originally created by the 

U.S. Centers for Disease Control (CDC) and Prevention and U.S. General Services Administration. The CDC remains the research and evaluation 

partner for Fitwel. The Center for Active Design was selected as the licensed operator of Fitwel, charged with expanding Fitwel to the global 

market. 

For more information, visit www.fitwel.org 


Yes, we can! 

Since MetCap Living established itself as a leader in property management, we have routinely 

been asked one, simple question; “Can you help us run our property more effectively?” And, 

for well over thirty years, the answer has remained — Yes, we can! Our managers are seasoned 

professionals, experienced in every detail of the day to day operations and maintenance 

of multi-unit rental properties. From marketing, leasing, finance and accounting, to actual 

physical, on-site management, we oversee everything. 

We concentrate on revenue growth, controlling expenses, and strategic capital investment 

in your property to maximize your profitability over the long term — when you’re ready to 

discuss a better option; we’ll be there. You can count on it. 

Kazi Shahnewaz 

Director, Business Development 

Office: 416.340.1600 x504 

C. 647.887.5676 

k.m.shahnewaz@metcap.com 

www.metcap.com

For All Maintenance Needs! 

14,000 PRODUCTS 

Serving the Greater Toronto Area (GTA) & its 

surrounding regions, including Ottawa, 

Kingston, Kitchener-Waterloo, Hamilton, 

London, and Burlington. 

Contact us: 

1.800.207.8325 

sales@hsbuild.com 

HSBUILD.COM

Canadian Apartment - May/June 2024

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