Wednesday October 14
10:00 am to 2:30 pm EDT
"Read on" for Day 1 Program
WELCOME & GREETINGS
Shawn Hamilton, President, BOMA Ottawa
Michael Waters, Chief Executive Officer, Minto Apartment REIT and Minto Group
ECONOMIC OUTLOOK: WHERE IS CANADA HEADING AS 2021 APPROACHES? HOW LONG WILL THE RECESSION BE? WHAT WILL THE RECOVERY LOOK LIKE?
COVID-19 has had an unexpected major impact on every Canadian and aspect of our lives, our businesses, the markets, and our overall economy. With widespread retail, business and production shutdowns, steep drops in consumer spending, and accelerating levels of unemployment, the pandemic pushed our economy into a recession. Here is an update on where are we now. Is it really a recession or something totally different? What kind of an economy will we be recovering into? How can you navigate the zigzag economy in the remainder of this year and then 2021? How temporary is the softness or is there permanent damage? What will be the impact of the escalated government debt? Where are employment, interest rates and immigration heading in 2021?
Michael Gregory, Deputy Chief Economist & Head of U.S. Economics, BMO Capital Markets
OVERVIEW OF THE OFFICE, RETAIL, INDUSTRIAL AND MULTI-UNIT RESIDENTIAL MARKETS IN OTTAWA: INVESTMENT, LEASING AND DEVELOPMENT
A detailed examination and insights on the extent of leasing and investment deals in the apartment, industrial, office, retail and land markets in the Ottawa region during the past twelve months. How much activity has there been since January? What impact has the pandemic had on the market? What is the outlook for the remainder of 2020 and beyond? Where are market fundamentals at this time, e.g. vacancy rates, absorption rates, and cap rates? Are valuations finally settling down in Q3? How much development activity has been? How much is in the pipeline?
Colin Johnston, President, Research Valuation and Advisory, Altus Group
Sean Robertson-Tait, Senior Consultant, Research Valuation and Advisory, Altus Group
UPDATE ON THE FEDERAL GOVERNMENT’S REAL ESTATE PORTFOLIO AND SPACE REQUIREMENTS IN THE NATIONAL CAPITAL REGION: HAS COVID-19 HAD AN IMPACT ON THEIR CURRENT OR FUTURE PLANS?
An update on the federal government’s real estate portfolio in the Ottawa and Gatineau. To what extent has COVID-19 affected any space needs and strategies beginning with health and safety factors emanating from the pandemic? What is the status of any development or repurposing plans were being considered or are underway? Are there any changes on the forefront with respect to federal government occupancy requirements across the National Capital Region? What are the most significant decisions that we are likely to see related to PSPC’s portfolio in 2021 and going forward?
Stéphan Déry, Assistant Deputy Minister, Real Property Services, PSPC
Nathan Smith, Senior Vice President, Capital Markets Group, Cushman Wakefield Ottawa
NATIONAL CAPITAL COMMISSION: WHAT INITIATIVES AND STRATEGIC PLANS ARE UNDERWAY FOR THE NATIONAL CAPITAL REGION?
The National Capital Commission manages 1,664 properties in its real estate portfolio in Canada’s Capital Region. This includes 560 properties leased in Ottawa - Gatineau for residential, agricultural, institutional, recreational and commercial purposes. The Master Concept Plan is being created for the 29 hectares site at LeBreton Flats plan will guide the implementation of the project in a strategically phased approach over the coming decades. The Plan is intended to ensure an ambitious, cohesive and feasible vision to create a dynamic community and Capital destination. Master plans for the Greenbelt, capital core sector plan, urban plans review, a sustainable development strategy and other initiatives.
Tobi Nussbaum, Chief Executive Officer of the National Capital Commission (NCC)
AS COVID-19 IS ONE OF THE GREATEST CHALLENGE OF OUR LIFETIMES, HOW IS IT CHANGING HUMAN ATTITUDES AND BEHAVIOURS? HOW ORGANIZATIONS ARE RESPONDING?
COVID-19 is changing various human attitudes and behaviours. Imagine that things are back to normal. We can meet face to face. Travel is possible. All goods are easy to buy. However, to what extent has COVID-19 forever changed the experience of being a customer, an employee, a citizen, and a person? Will we see behaviour change ofor some time to come as a result? Has there been a change in the way we think? How will that affect the way we design, build and manage the various services that people need and want?
Kevin Kelloway, Canada Research Chair in Occupational Health Psychology and Professor of Organizational Psychology, St. Mary’s University. He is a prolific researcher, an experienced consultant, and a popular speaker
Concurrent Sessions (Select A1, A2 or A3)
THE OFFICE MARKET OVERVIEW: HOW HAVE STRATEGIES WORKED FOR A SAFE AND PRODUCTIVE OFFICE ENVIRONMENT? WILL REMOTE WORKING IMPACT OFFICE DEMAND? HOW ARE THE FEDERAL GOVERNMENT PLANS PROGRESSING WITH GCWORKPLACE?
Across Canada, companies and people in March abandoned their offices as governments mandated that everyone had to work remotely. Once lockdowns eased, landlords and tenants were then faced the question of how to bring people and teams back into their office space and the buildings in tandem with the goals of staying safe and productive. What strategies were used to reinvent the workplace environment? How did landlords respond to the challenges? Is the remote working experience leading to occupiers rethinking their space requirements? This panel will these and other issues facing the office market currently and going forward. Discussion will also focus on the evolution of GCWorkplace as an innovative and future-oriented strategy about transforming the way that people work.
Shawn Hamilton, Senior Vice President & Managing Director, Ottawa, CBRE Limited
Sonia Powell, Director General, Workplace Solutions, Real Property Branch, PSPC
Michael Swan, Assistant Vice President, Office/Industrial, Leasing & Property Management, Morguard
Meredith Thatcher, Co-Founder, Agile Work Evolutions
Martin Vandewouw, President, KRP Properties
WHERE ARE OTTAWA’S PLANNING PRIORITIES HEADING: FROM THE EMPLOYMENT LAND STRATEGY TO THE NEW OFFICIAL PLAN
The City of Ottawa is implementing a series of key initiatives and planning policies that have very significant implications on growth and development. Four of the most important ones are the new Official Plan, expansion of the urban boundary, the target for intensification, and the Employment Land Strategy. This session will examine each of these policies, what their present status is, what key questions or issues ideally need to be addressed respectively by the City as they move forward with each policy.
Michael Polowin, Partner, National Municipal Group Leader, Gowling WLG (Canada) LLP
Steve Willis, General Manager, Planning, Infrastructure and Economic Development, City of Ottawa
RETAIL HAS BEEN BATTERED AND BRUISED DURING COVID-19: HOW ARE LANDLORDS & RETAILERS RESPONDING TO THE IMPACTS?
Under normal market conditions, no other real estate property category has attracted as much chatter in recent years as retail. Once a favourite of investors, this property class is facing many increasing challenges for some time – and they are becoming more significant. COVID-19 has resulted in the closure of all malls, most stores and restaurants due to health and safety government mandates. Due to the pandemic, retail has become a greater vulnerable property class. How significant have the casualties been? Is the unexpected growth of more 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 co-existing with online shopping? How can landlords redefine the onsite retail experience for shoppers?
Warren Wilkinson, Managing Director, Ottawa, Colliers International
John Ballantyne, Senior Vice-President of Asset Management, RioCan REIT
Candice Lerner-Fry, First Vice President, Leasing, Marcus & Millichap
Brian O’Hoski, General Manager, CF Rideau Centre
Fraser Paddison, Director, Retail Leasing, Colonnade Bridgeport
2:30 pm – NETWORKING IN THE LOUNGE
Thursday October 15
10:00 am to 2:30 pm EDT
"Read on" for Day 2 Program
WELCOME & GREETINGS: HIGHLIGHTS FROM DAY ONE
Michael Waters, Chief Executive Officer, Minto Apartment REIT and Minto Group
KEYNOTE INTERVIEW: THOUGHT LEADERSHIP WITH ROGER GREENBERG THE POTENTIAL IMPACTS OF COVID-19 ON REAL ESTATE: HOW CAN YOU PREPARE FOR WHAT LIES AHEAD?
As the current unprecedented and challenging time continues to evolve, everyone across the real estate industry is looking for answers to an increasing number of questions. At a time like this, thought leadership from the most seasoned CEOs becomes strongly desirable. Roger will draw upon key lessons learned from his very vast background as we find ourselves asking the questions: Where do we go from here? What should we be planning to do once the recovery begins?
Roger Greenberg, Executive Chairman of the Board, The Minto Group and Chairman of the Board, Minto Apartment REIT
Aaron Cameron, AVP, Commercial Operations, First National Financial LP
Adam Powadiuk, Director, Commercial Financing, First National Financial LP
Concurrent Sessions (Select B1, B2 or B3)
INDUSTRIAL REAL ESTATE DEMAND CONTINUES TO ACCELERATE: WHAT IS ON THE HORIZON?
While it is not a significant sized asset class, the Ottawa industrial market continues to be on fire – as is the case generally across the country. Space availability continues to be at a record low of below 2% combined with record rent levels. Add to this is the unexpected pressures on distribution and logistics to meet the fulfillment needs of the surge in online shopping growth as a result of the pandemic. This panel will provide an overview and understanding of the major trends in this property class, where NERs are heading, current and future investment activity, how active is the development pipeline, and other major characteristics of the industrial market.
Nico Zentil, Senior Vice President, National Investment Team, CBRE Limited
James Beach, Director, Real Estate & Business Development, Broccolini
Joe Iadeluca, Senior Vice President, Asset Management, Dream Industrial REIT
Peter McFarlane, Senior Vice President, Investment Operations, Fiera Real Estate
Greg Sweeney, Senior Managing Director & Head of Canadian Real Estate Investments, Manulife Investment Management
CONSTRUCTION & DEVELOPMENT ACTIVITY ACROSS THE OTTAWA MARKET: WHERE ARE COSTS HEADING? WHAT ARE EXAMPLES OF INNOVATION? WHAT INFRASTRUCTURE PROJECTS ARE UNDERWAY?
Over the past five years and beyond, Ottawa has been experiencing a wide range of development activity. This has ranged from large-scale redevelopment of tranformational properties to smaller infill building within existing neighbourhoods. City staff have been encouraging the redevelopment of large parcels, resulting mainly in mixed-use centres as well as in proximity to existing transit and LRT stations. This session will examine the key lessons that builders have learned from development projects. What are examples of innovative projects? Where are construction costs heading as we move through the pandemic? Aside from the next phase of the LRT, what other infrastructure projects are in the pipeline? How much development is the city likely to see over the next few years?
Miguel Tremblay, Partner, FoTenn Consultants
David Hudock, Business Development Manager Canada, PCL Constructors Canada Inc.
Steve Martin, Director, Development, Colonnade Bridgeport
Stuart Craig, Vice President, Development, RioCan
Tim Tierney, Councillor, Ward 11, City of Ottawa
WHAT THE PATH FORWARD FOR COVID-19 LOOKS LIKE? WHAT LESSONS HAVE REAL ESTATE EXECUTIVES & TEAMS LEARNED IN PREPARATION FOR THE NEXT MARKET DISRUPTION?
The session will begin with an insight to the epidemiological path that the pandemic appears to be heading. Will there be a second large wave in the Fall or Winter of 2020/2021? What should we expect? What are the prospects and timing for a vaccine? What implications will there be for the overall economy? What stage are we at right now? What do owners and managers of buildings need to understand? The second portion of the discussion will focus on some of the valuable lessons that real estate executives and teams have learned from their experience with the pandemic to this point. What would be major takeaways from this experience if another major market disruption emerges in the future?
Hugh Gorman, Chief Executive Officer, Colonnade Bridgeport
Dr. Vera Etches, Chief Medical Officer of Health, City of Ottawa
William Logar, Executive Vice President, Asset Management, KingSett Capital
Stephen Nicoletti, Managing Director, Eastern Canada, Manulife Financial
Concurrent Sessions (Select C1, C2 or C3)
UPDATE ON MULTI-RESIDENTIAL IN OTTAWA: HOW DID COVID-19 IMPACT THIS MARKET? CAN LANDLORDS & PURPOSE-BUILT RENTAL ADDRESS THE AFFORDABILITY ISSUE?
This session will open with an overview of the major trends in the Ottawa apartment market which enjoyed a vacancy rate of less than 1.5% at the begin of the year. And then suddenly the pandemic struck along with accelerated unemployment and a steep decline in immigration. Concerns immediately were raised about rent collection related to the ability of unemployed tenants to pay. Did government programs offset some of these concerns? How has the multi-residential market performed since March? Is it a property class to be own during the current environment? What impact are lower financing costs, lower utility costs, lower repair and maintenance costs having on the value of these assets. Where are demand and vacancy rates heading now? Discussion will also focus on affordable housing.
Aik Aliferis, Senior Managing Director & Senior Director of Institutional Property
Advisors, Marcus & Millichap
Ugo Bizzarri, Co-Founder & Chief Investment Officer, Timbercreek Asset Management
Phil Fraser, President & CEO, Killam Apartment REIT
Neil Malhotra, Vice President, Claridge Homes
Cliff Youdale, Chief Development Officer, Ottawa Community Housing
ELEVATING ARCHITECTURE & DESIGN: JUST HOW FAR CAN YOU PUSH THE LIMITS ON A PROPOSED DEVELOPMENT OR REVITALIZATION PROJECT?
With city building being significant ongoing activity, one question is: how far can owners and developers be pushed by architects to incorporate innovative design of the project? This applies to any newly constructed use as well as retrofitting the built environment. Are municipal officials keen to accept and approve “thinking outside the box”? This session will feature four primarily young architects who will address these questions and suggest a range of possibilities with respect to the future design, building and development of Ottawa.
Brian Casagrande, Partner, FoTenn Consultants Inc.
Ryan Koolwine, Principal, Project1 Studio
Andrew Reeves, Principal & Founder, Linebox Studio
Samantha Schneider, Principal, Christopher Simmonds Architect
Rick Shean, Principal & Owner, Shean Architects
HOW ARE TECHNOLOGICAL ADVANCEMENTS IMPACTING THE VALUE OF EXISTING ASSETS, NEW DEVELOPMENT AND THE CORPORATE BOTTOM LINE? WHAT CRITICAL ROLE CAN DATA QUALITY PLAY?
Technological innovation is transforming the world at unprecedented speed and the real estate market and industry is not exempt from this trend. It can be even more important within the real estate enterprise itself. How are you using technology to work smarter, operate your buildings more efficiently, and manage your business more profitably? Technology can be used to produce a considerable and growing amount of data by asset or by portfolio. But what is particularly important among these metrics and analytics and what is not? What are some current innovations that can impact the quality and operation of your real estate assets, your portfolio, and your firm?
Dave Wallace, Chief Operating Officer, The Regional Group
Speakers will include:
Peter Altobelli, Vice President, Sales & General Manager, Canada, Yardi
Michael Crook, Senior Vice President, Product Management, Altus Analytics, Altus Group
Terry Young, Vice President, Operations, KRP Properties
THE INVESTMENT ROUNDTABLE ON THE OTTAWA MARKET: WHAT IMPACT HAS COVID-19 HAVE ON TRANSACTION ACTIVITY? WHAT ARE BUYERS LOOKING FOR? WHERE ARE CAP VALUES HEADING?
An insightful discussion with a cross-section of senior executives responsible for investment decision-making representing a wide range of national real estate organizations: from private equity funds to institutional investors. To what extent did transaction activity pause during Q2 and the acceleration of the pandemic? How strongly has it recovered? What are investors’ perspectives on Ottawa’s fundamentals, what attracts them to this market, and what is their strategic thinking going forward? Among the other questions to be examined:
As current and prospective investors in the Ottawa market, what property classes and quality of assets are you looking for?
What does it take to complete an investment deal in this market?
What will be your strategy for 2021 and beyond in this market?
What property classes will likely offer the best returns in 2021? Why?
Is Ottawa now considered a top tier market for Canadian investors?
Michael Waters, Chief Executive Officer, Minto Apartment REIT and Minto Group
Colin Baryliuk, Executive Managing Director, Investments, KingSett Capital
Simon Holmes, Co-Head Managing Director, Canadian Investments, BentallGreenOak LP
Devon Howsam, Vice President, Acquisitions & Asset Management, Crestpoint Real Estate Investments
Blair McCreadie, Head of Canadian Real Estate and Fund Manager, Fiera Real Estate
Jaime McKenna, Managing Director, Group Head of Real Estate, Fengate Asset Management
2:20 pm – NETWORKING IN THE LOUNGE