Thursday October 22 9:00 am to 12:30 pm MDT "Read on" for Day 2 Program
Forum Chairs: Rohit Gupta, President, Rohit Group of Companies Matt Rachiele, Managing Director, Calgary, Colliers International
In early December 2019, Calgary Sports and Entertainment Corporation and Calgary Municipal Land Corporation came to an agreement and announced a $550 million arena project. Once completed in 2024, the currently dubbed the Calgary Event Centre will add an extraordinary civic amenity that will serve residents and visitors for generations. What does this mean for development in and around the arena, particularly as it relates to the impact on East Victoria Park? When you look north to Edmonton, what have been some of the major benefits and outcomes resulting from ICE District and the Rogers Place development in revitalizing the inner city?
Moderator: Cory Wosnack, Principal, Managing Director, Avison Young
Panel: Kate Thompson, President & CEO, CMLC Simon O’Byrne, Senior Vice President, Business Leader, Community Development, Stantec
Once a favourite of investors, retail has been facing many increasing challenges for some time – and they are becoming more significant. COVID-19 resulted in the closure of all malls and most stores and restaurants due to health and safety government mandates. Due to the pandemic, retail has become a much more vulnerable property class. How significant will the casualties likely to be? Is the unexpected faster growth of online shopping short term or could it result in a permanent structural shift in the retail market? How have enclosed malls performed vs. power centres vs. grocery anchored centres vs. street front retail? What does the future hold for brick and mortar and online shopping? Can they co-exist together? How can landlords redefine the onsite retail experience for shoppers?
Moderator: Eric Slatter, Partner, Omada Commercial
Panel: Ryan Darragh, Vice President, Leasing, Ronmor Holdings Eve Renaud, Vice President, Rencor Developments Inc. Jeremy Thal, President & CEO, Royop Development Corporation Jarett Thompson, Chief Operating Officer, Cameron Corporation
A discussion focusing on the debt market and examining what borrowers can expect for the remainder of 2020 and beyond. While real estate continues to attract strong amounts of capital, how are lenders and other sources of debt and equity capital viewing Calgary and Edmonton? Where is their cost of capital heading? Who are the most active lenders in this market and what are they looking for? How are they assessing a deal and pricing it? What is their underwriting criteria? Are there any property classes that they are avoiding, reducing exposure to, or increasing pricing for? How will the strategies vary among the various types of debt lenders – from major banks and MICs to credit unions and private sources? How available is land and construction financing?
Moderator: Jon Chia, Chief Financial Officer, Pangman Development
Panel: Jessica Harland, Managing Director, CMSI Pacific Eric Horie, Senior Vice President, Trez Capital Rod Hunt, Managing Director, Real Estate Lending, Business Financing Products, Royal Bank of Canada Roy Lall, Director, Real Estate Lending, Otera Capital
Calgary and Edmonton are both in the midst of expanding their public transportation systems, with large provincial and federal investments going into the Green Line and Capital Line LRT expansions within the cities. The session will examine a number of projects to determine the primary market fundamentals and other factors responsible for these developments. How are developers assessing opportunities in the face of the construction costs and other pressures? What are some challenges or constraints to development and how can they be overcome? What are the most practical opportunities at this time? The session will also examine a wide range of projects and what can be learned from these experiences.
Moderator: Chris Ollenberger, Managing Principal, QuantumPlace Developments Ltd.
Panel: Patrick Briscoe, Vice President, Development, Graywood Development Chris Dulaba, Placemaker, Beljan Development Corporation Margaret Knowles, Senior Vice President, Development, Morguard Investments Limited Tara Steell, GM, Calgary Land, Dream Development
While oil and gas manufacturers continue to sit on the sidelines, maintenance and service companies have expanded in Edmonton. There is activity on the development side where currently Apex Business Park, Monarch Business Park and Discovery Business Park are three examples that are expected to be completed this year and 2021 respectively in Edmonton. In Calgary, while the city saw negative absorption in Q2 of 2020, Lowe’s announced plans for a 1.2M sq. ft. distribution centre just outside of the city limits. To what extent are new projects locating in the RMs that surround Edmonton and Calgary due to lower costs and quicker planning approvals? How is the industrial real estate market performing overall particularly through the pandemic? Has the surge in online shopping created significant pressure for more logistical space?
Moderator: Andy Horvath, Partner, Industrial, Cushman & Wakefield Edmonton
Panel: Dan Alexander, Director, Industrial Leasing, Oxford Properties Phil Brown, Vice President, Acquisitions & Leasing, Industrial, Hopewell Development Marshall Toner, Managing Director & National Lead, Industrial, JLL Matthew Woolsey, President, York Realty Inc.
In 2019, Edmonton saw major benchmark transactions take place by a number of different national investors and some foreign entities. Of all the cities and countries in the world where they could have chosen to deploy their capital, why did they select Edmonton? Notwithstanding the softness in the downtown office market and oil and gas industry, there are many investors who are watching the Calgary market as well. Discussion will touch on each property class and determine which ones have the strongest investor interest and why. Where are cap rates trending beyond 2020? What do they foresee for the two gateway markets beyond 2020?
Moderator: Brandon Kot, Managing Partner, Edmonton, Canada ICI Capital Corporation
Panel: Devon Howsam, Vice President, Acquisitions & Asset Management, Crestpoint Real Estate investment Ltd. Duncan MacLean, Senior Vice President, CBRE Limited Stephen Robertson, Head of Acquisitions, Canada, LaSalle Investment Management Dave Young, Managing Director, CBRE Limited
This session will explore Calgary and Edmonton’s municipal approval processes and will examine initiatives and policies that are being undertaken to assist landlords and developers in proceeding with new projects as well as retrofitting existing buildings over the short and long term. What initiatives and policies have been put in place to facilitate new development and intensification to meet Edmonton and Calgary’s future growth? This panel will explore the progress that the both cities are making to assist the ongoing expansion of Alberta’s two major metropolises.
Moderator: Andrew Usenik, Partner, Strata Development Corp.
Panel: Thom Mahler, Manager, Urban Strategy, City of Calgary Stephanie McCabe, Deputy City Manager, Urban Form & Corporate Strategic Development, City of Edmonton Kathy Davies Murphy, Manager, Growth Funding & Investment, City of Calgary Mike Saunders, Senior Vice President, Qualico Properties
The pandemic has taken a toll on an already struggling provincial economy. This roundtable discussion with a diverse group of senior real estate executives will provide insights on the Alberta market for 2021 and beyond. What do they foresee over the next twelve months? How is COVID-19 likely to impact investor, developer and lender decision-making and their views on the market? What will be the most significant political or economic actions that will impact their decision-making about the Calgary and Edmonton markets?
Moderator: Matt Rachiele, Managing Director, Calgary, Colliers International
Panel: Micheal Dal Bello, Senior Vice President, Real Estate, AIMCo Scott Hutcheson, Executive Chair, Aspen Properties William Logar, Executive Vice President, Asset Management, KingSett Capital Blair Welch, Founding Partner, Slate Asset Management L.P.