Show Notes
Date: April 21st, 2022
Name of podcast: Altus Insights Podcast Series
Episode title and number: Purpose-built rental property in Canada
Episode summary: Purpose-built rental has been a hot trend, will it get hotter? The affordability issue we're experiencing in some of the major markets are caused by low supply versus increasingly high demand. Luckily, purpose rental has been thriving with new construction. In this episode, we’ll discuss purpose-built rental and why this asset type’s demand is only increasing and how its addressing some of the gaps in the market. Panelists in this episode:
Raymond Wong is the Vice President of Data Operations for Altus Group’s Data Solutions team. Overseeing 60+ researchers across Canada, Ray’s primary responsibility is to ensure data collection is all encompassing, reliable and accurate and that it adheres to the Altus Group data governance guidelines. Ray works closely with both internal and external clients to ensure the information meets their needs and that it is both accurate and timely. He also regularly presents on key market trends to clients and at industry events.
Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence through to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.
Key topics:
· 00:43 – How does purpose-built rental help address growing housing needs? · 06:33 – Pro Forma: Purpose-built vs. Condo · 13:39 – Regional demand for purpose-built rental · 18:46 – Cap rates and best markets for purpose-built rental · 24:38 – Closing remarks: Concerns about affordability and supply & demand from Marlon Sign up to receive our Altus InDepth Newsletter
Watch a video recording of this podcast episode
More from Altus Insights Podcast Series
We live in contradictory times, demand for housing is at an all-time high. But developers across North America are struggling with a constantly changing environment that can inject risk from many different angles, entitlement approval, interest rates, supply chain, labor, construction costs, sustainability, climate change and the list goes on. To help sort this all out we’ve got two experts on these development risks joining us for the show, Faris Rehman, Director of Development Advisory at Altus, and Jack McGowan, Senior Director of Cost and Project Management at Altus. Panelists in this episode:
Tune in to the Altus Insights podcast as we dive into the ever-evolving Canadian real estate market. Two months ago (March 2023), we witnessed the impact of higher-than-welcome inflation and rising interest rates on the economy. Now, we're eager to explore what has changed with our special guest, Peter Norman, Chief Economist at Altus Group. Discover how the demand for office assets has unfolded amidst the ongoing transition to hybrid work models. Gain valuable insights into the industrial sector's challenges, including constrained supply and robust demand. Moreover, we'll examine how interest rates have influenced housing development and sales. Don't miss this engaging conversation as we delve into the state of the Canadian commercial real estate market. Panelists in this episode:
Richard Lyall, President of RESCON, joins Marlon and Ray to dig into the complicated question: Can 1.5 million homes be built in Ontario within the next 10 years? Tune in to hear Richard, Marlon and Ray discuss the challenges, the opportunities and the politics around the crucial housing initiative. Panelists in this episode: