Andrew Petrozzi’s Post

Many thanks to NAIOP Vancouver for hosting its annual Office Market Update breakfast this morning and to the moderator, Avison Young's Glenn Gardner, and the panelists, JLL's Mark Trepp, Oxford Properties Group's Andrew Dickson and GWL Realty Advisors' Peter Jenkins, for sharing your insights and expertise on an office market with plenty of opportunities that remains well-positioned to benefit from the ongoing recovery of the asset class. #vancouver #office #leasing #downtown #suburban

Kelowna’s Troika Developments hopes city council will approve two significant developments when it meets Monday, reported Castanet Media. "The first is a 175-unit senior’s apartment on Valley Road in Glenmore in partnership with Sussex Retirement Living. The six-storey apartment would be constructed adjacent to The Vineyards, a long-term care facility also being operated by Sussex." "The development would include a number of amenities designed to support an active lifestyle including fitness and events centres, games rooms, library, wine bar and outdoor spaces. The second project is a 160-unit purpose-built rental on Barlee Road near Orchard Park." https://lnkd.in/gE7cbAB8 #kelowna #residential #development #seniorshousing

The City of Langford, Vancouver and U.S.-based developer Cedar Coast and Orion Construction kicked off construction of a new Langford development located at 797 Revilo Place, reported the Goldstream News Gazette. "The six-storey, 131-unit building, called Impera, is close to retail shops and post-secondary institutions, and it will boast studio and two-bedroom apartments designed "with sustainability and community living in mind" according to the developer." https://lnkd.in/gZiTg4JE #langford #residential #development #apartments

Following the successful completion of its recent project “The Bowline”, GWL Realty Advisors (GWLRA) has begun construction on a new property in the Central Lonsdale area of North Vancouver, reported Canadian Apartment Magazine. "Plans for the six-storey development received unanimous approval by Mayor Linda Buchanan and City Councillors in July 2024, bringing 91 new rental units and a rich offering of amenities to the North Shore of the lower mainland market by 2027." https://lnkd.in/gVpr5s5r #northvancouver #residential #development

The Homebuilders Association Vancouver (HAVAN) recently raised alarm bells about the escalating costs of building new housing when it comes to Development Cost Charges (DCCs), reported the Delta Optimist. "The association says it has collected information related to the implementation of DCCs across Metro Vancouver over the past year and looks to understand the implementation of Bill 46: Development Financing, and the impacts of the current and pending changes to the delivery of homes." https://lnkd.in/gyTfVbae #delta #development #fees

The City of Vancouver has announced that starting in 2025 permitting times for certain multiplex applications will be cut by approximately 50 per cent, reported ConstructConnect. "The permitting will go through a streamlined Development Building Permit application pathway, part of the city’s Permitting Improvement Program. Currently the City of Vancouver requires multiplex projects to apply for a separate development permit followed by a building permit, and the new development building permit combines the two processes into one application." https://lnkd.in/giUsHyGz #vancouver #development #policy #multiplex

Troon is the world’s leading golf course management company, operating more than 900 courses around the globe. Amazingly, the company had no Canadian properties until long-time resort developer Graham Kwan of Vancouver tapped on their proverbial shoulder and said, listen, do I ever have a property for you, reported The Vancouver Sun. "Graham Kwan and his partner, Vancouver area real estate developer Farhad Ebrahimi, brought in Troon on an exceedingly special opportunity in the West Kootenay Region of British Columbia. The development duo had learned that since 2013, Nelson had a luxury resort pencilled into their OCP (Official Community Plan). As a creative arts and organic farming mecca tucked away in a coniferous paradise next to the crystal-clear waters of Kootenay Lake, Nelson also had a 100-year-old 18-hole golf course ripe for redevelopment." https://lnkd.in/gbBE5UgN #britishcolumbia #resort #development

After more than seven years of construction, a new cancer centre in Calgary will be opened to patients and researchers, reported CTV News. "The Arthur J.E. Child Comprehensive Cancer Centre is more than one million square feet in size and aims to change the way Calgarians will receive cancer care." https://lnkd.in/gG--X44U #calgary #medical #infrastructure #development

Toronto-based fintech giant Wealthsimple has announced a major hiring expansion in Alberta, tapping into the province’s deep pool of talent as it continues its rapid growth, reported Fintech.ca. "The company, which has already doubled its Alberta workforce in the past year, plans to triple the number of full-time employees in the region by the end of 2025. This expansion will bring Wealthsimple’s Alberta-based workforce to 105 employees, accounting for approximately 10% of the company’s total workforce. Roles being actively recruited include positions in engineering and product development, client experience, sales, and operations." https://lnkd.in/g8habwak #alberta #office #leasing #tech

Student demands for amenities and services that address their emotional and mental wellbeing are impacting new development on college campuses that has led to recreation centers with wellness portfolios, reported Building Design & Construction - BDC. "These hybrid buildings, whether the result of new construction or renovation and addition, are being positioned as centerpieces for their school’s master planning, with terms like “front porch” and “anchor” used to describe them. As often as not, higher education institutions and their development, design, and building teams solicit feedback about these projects, pre- and post-occupancy, from students and other stakeholders, to ensure that the building and its programming are working as intended." https://lnkd.in/g-zG2PhQ #studenthousing #construction #design