Availability of land and values across Canada: How has the market shifted and where is land development heading?

Availability of land and values across Canada: How has the market shifted and where is land development heading?

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Casey GallagherCasey GallagherVice Chairman at CBRE

As Vice Chairman with CBRE Capital Markets’ National Investment Team, Casey Gallagher is recognized as an industry leader, overseeing the Team’s development land practice in the GTA. Casey’s direction remains integral in ensuring the considerable growth of CBRE’s development land advisory business, driving a heightened understanding of condominium, rental, and commercial development activity. Casey has advised the sale of many of Canada’s landmark projects including the Royal York Hotel, Buttonville Airport, and 1 Yonge Street. He is one of Canada’s leading advisors on behalf of all levels of government in the conveyance of lands for socially beneficial outcomes, including affordable housing and long-term care. Casey’s clients include pension funds, REITs, institutions, and private owners and he remains a trusted advisor for high-profile distressed assignments. Over the last 5 years, he has completed over $30 billion in total sales.

Thierry SamlalThierry SamlalExecutive Vice-President, Chartered Real Estate Broker at PMML

Thierry Samlal, with more than two decades of active real estate brokerage experience, including eight years at PMML, brings a wealth of expertise to the table. Specializing in the sale of diverse property portfolios—existing, new, and recent multi-unit properties, and land suitable for densification—Thierry is well-versed in market statistics, trends, and transactional intricacies. Notably, Thierry's extensive knowledge allows him to navigate complex transactions with ease, including major sales within the social housing segment, often in collaboration with reputable non-profit organizations (NPOs) and various government entities.

In addition to his transactional successes, Thierry is a familiar face on PMML.TV, where his informative capsule broadcasts draw a wide audience. Furthermore, he shares his insights as a regular panelist at major conferences in Montreal and Toronto, offering perspectives on prevailing market trends.

Actively engaged in building owners' and builders' associations, Thierry collaborates closely with vendors to establish new comparables and drive enhancements in the Greater Montreal and the provincial market. His wealth of experience has cultivated a profound understanding of Quebec's diverse market segments while nurturing valuable relationships within a vast network of local and North American partners.

Jim CostelloJim CostelloHead of Real Estate Economics at MSCI Real Estate

Jim Costello is an economist who analyzes the commercial property markets. Jim communicates stories on market performance to clients of MSCI in numerous written articles and in presentations that rely on Jim’s conversational speaking style. Jim has worked in the commercial real estate space on issues of urban economics since 1990, including a 20-year stint with CBRE’s Torto Wheaton Research team. Jim developed important building blocks for market analysis while at Torto Wheaton including ways to think about market risk and implications for asset values. Jim provided advice to the U.S. Treasury Department and other policy makers in the aftermath of the Global Financial Crisis and helped educate these professionals on commercial real estate performance. In the Covid-19 crisis Jim leveraged his experience and long perspective on the market to help industry leaders understand how the downturn and rebound from this shock will vary from others.

Amy ErixonAmy ErixonPrincipal & President Global Investment Management at Avison Young

Amy Erixon, Principal & President, Global Investment Management Group, Avison Young is an industry expert in real estate technology, greening strategies and smart cities. She leads Avison Young’s Global Investment Management practice, which is active across all major and select specialty property types in North America and Europe. Prior to joining Avison Young, Amy was Chief Executive Officer of IGRI, a full-service development and investment firm that built the first LEED-certified projects across Canada in the mid-2000s. With more than 35 years of industry experience, she has acquired, developed and repositioned portfolios valued in excess of $9B, and completed large-scale rezoning and development projects in numerous North American cities. Amy serves as an educational counsellor for MIT and was former board member of the Nature Conservancy of Canada and is a member of Avison Young’s Executive Committee.

Andrew TongAndrew TongManaging Director at Integral Strategic Real Estate Ltd.

As the Managing Director of Integral Strategic Real Estate, Andrew Tong leverages his 30 years of experience and expertise in the Canadian real estate market to provide value-added solutions and opportunities to his clients and partners. He oversees and manages a boutique firm that specializes in real estate investment, asset & portfolio management, and advisory. Andrew partners with high-net-worth families, institutional investors, and developers across various asset classes, including residential (market and affordable rental, condo, seniors), office, industrial, and retail. Andrew is a former CIO of a Canadian pension fund-owned real estate development & investment company and Managing Director of a $3 billion Canadian real estate income fund.

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Description

A panel of industry experts specializing in land and development will discuss current market conditions and trends across Canada that are impacting deals completed over the past 12 months, along with what sites are on the market, or coming to market in the near term. What changes have occurred in property and residential values over the past 12 months? Can densifying the ‘Yellowbelt’ be the solution to the land shortage as developers look to densify and redevelop existing underused or functionally obsolete assets? What about an explanation of the whole decision making around the greenbelt and the other policy reversals? What are the lessons learned from the greenbelt mess that happened? Will we see more mixed-use projects incorporating light industrial and multi-storey industrial? What is the availability of financing in the future looking like for land or redevelopment projects?

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