Wednesday October 14 10:00 am to 2:30 pm EDT "Read on" for Day 1 Program
Introduction: Shawn Hamilton, President, BOMA Ottawa
Forum Chair: Michael Waters, Chief Executive Officer, Minto Apartment REIT and Minto Group
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
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?
Speakers: Colin Johnston, President, Research Valuation and Advisory, Altus Group Sean Robertson-Tait, Senior Consultant, Research Valuation and Advisory, Altus Group
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
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)
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)
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.
Moderator: Shawn Hamilton, Senior Vice President & Managing Director, Ottawa, CBRE Limited
Panel: 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
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.
Speakers: Michael Polowin, Partner, National Municipal Group Leader, Gowling WLG (Canada) LLP Steve Willis, General Manager, Planning, Infrastructure and Economic Development, City of Ottawa
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?
Moderator: Warren Wilkinson, Managing Director, Ottawa, Colliers International
Panel:
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