ADERA DAY
MAY 1, 2024
ADERA – 55-YEARS OLD
By Eric AndreasenAdera Development Corporation celebrates its Emerald Anniversary this year, marking 55 years of innovation, growth, and commitment to sustainable building practices. Founded on the principles of building value into multi-family communities enhancing lives through thoughtful design and construction, Adera has been at the forefront of using wood as the primary material for multi-family homes since it’s inception. This journey began with a modest ambition to construct a handful of multi-family developments which, over the years, expanded remarkably, evolving into a sophisticated operation that produces, on avarage, more than 400 units annually, today leveraging the advanced technology of mass timber, focusing on the natural beauty and environmental benefits of wood.
In our opinion, mass timber will revolutionize the construction industry. Adera has been a pioneer in this space here in North America, embracing its potential early on. The company’s focus on SmartWood® construction—utilizing Cross-Laminated Timber (CLT) for floor systems and elevator shafts, along with panelized wood wall construction—has not only set a benchmark for efficiency and sustainability but has also become a registered trademark of Adera’s innovation. SmartWood® represents more than a building material; it embodies the company’s ethos of Buildings For Better Lives, where every project is designed with the well-being of its inhabitants, and the planet, in mind.
Throughout its 55-year history, Adera Development Corporation has remained dedicated to it’s mission of creating multi-family homes that are not only aesthetically pleasing but are also built to last, with a minimal environmental footprint. The transition from traditional wood construction to utilizing mass timber reflects Adera’s commitment to pushing the boundaries of sustainable building practices. SmartWood® benefits— such as reduced carbon emissions, faster construction times, and exceptional strength and durability—align perfectly with Adera’s goals.
The Emerald Anniversary is not just a celebration of Adera’s past achievements but also a commitment to the future. As the company looks ahead, it continues to innovate and explore new ways to enhance its SmartWood® construction techniques, further contributing to a sustainable and resilient building industry. Adera Development Corporation’s journey from a modest builder of multi-family homes to a leading advocate for mass timber construction is a testament
to its enduring vision of Buildings For Better Lives — a vision that continues to inspire and shape the future of construction through a professional team of dedicated Adera personnel, and an army of high-performing trades and consultants that facilitate the SmartWood® commitment.
ADERA CARES
By Dave Thornton & Kyle KariADERA FOUNDATION SOCIETY
The Adera Foundation Society is an employee led, non-profit charity founded in 2009 to administer, distribute and provide tax receipts for money raised from Adera’s charitable endeavors. With the much valued and generous support from Adera’s partner trades, consultants, and suppliers, the Adera Foundation Society has distributed $95,000 this year alone. Charities benefiting from Adera’s donations include BC Children’s Hospital; Canuck Place Children’s Hospice; BC Cancer Society; BC Family Hearing Society; BC Amateur Sports Fund – I Ride; Camp Kerry Society; Canadian Cancer Society – Camp Goodtimes; Covenant House; Easter Seals BC & Yukon; Greater Vancouver Food Bank; Kids Help Phone; Make-A-Wish Foundation; Prostrate Cancer Foundation BC; Surrey Christmas Bureau; and True Patriot Love – Invictus Games 2025. It has always been with great pride and honor that I have been the Adera Foundation Society president since its inception. With my planned retirement in July, I will be stepping down as President with Adam Weir, another original board member, taking over as President. Adam, and a wonderful Board of Directors, consisting of Kim Slocum, Sean Dedieu, Dwayne Ostheidt and Curt Thornton will ensure the Adera Foundation Society has many more years of continued success.
KEN MAHON CHARITY
GOLF TOURNAMENT
The 30th Ken Mahon Charity Golf Tournament was held this past August. The event raised over $90,000 for local children’s charities. The 30 years of this tournament has raised over $1,000,000. This has been due to enthusiastic golf committees, hardworking volunteers, continued gracious donations from partner trades and suppliers, and generous buyers at silent and live auctions, 50/50 draws and putting contests. I have been rewarded with the task of golf committee chairman for all 30 tournaments. Curt Thornton will be succeeding me for this year’s tournament which will be held on Friday August 16th at Country Meadows Golf Course in Richmond. The fun will get started at 8:00 am with a shot gun start Texas Scramble format. Comradery, lunch and auctions will follow golf on a day that will surely provide a good time for all.
ANDREW MAHON MEMORIAL CUP
The 12th Andrew Mahon Memorial Cup hockey tournament at The Great Pacific Forum in Delta was a thrilling event, featuring four teams sponsored by Harrigan Rentals, Dick’s Lumber, Woodtone, and DCM. With support from sponsors and volunteers, over $5,000 was raised for the Adera Foundation Society. The championship game saw Harrigan Rentals facing off against Dick’s Lumber, with Dick’s Lumber clinching victory with a last-second goal by Henry Brawdy. Following the game, both a raffle draw and a 50/50 draw were held, along with individual awards presented to recognize outstanding players. Henry Brawdy was named the
“Rick Rickert” Tournament MVP for his exceptional play and clutch scoring, while Tricos Dean Clark received the “Wes Ring” Most Inspirational Player award for his dedication and contributions to the tournament throughout its 12-year history. We look forward to seeing you all again next year for another exciting tournament.
CURRENT PROJECTS
By Adam Weir and Eric Andreasen
BRITANNIA BEACH
Phase 2 move-ins are progressing smoothly, with Phase 3 homes now roofed and nearing the lock-up and drywall stage. Landscaping for the community garden and play area begins next month, enhancing the Britannia Beach area’s natural beauty. Our partner, Macdonald Communities Limited, is finalizing tenants for various amenities, ensuring residents have everything nearby. With 49 of 73 homes already sold, the project is on track for a complete sellout by end of 2024, thanks to Julian Proctor and his team’s hard work. Upcoming guerrilla marketing efforts are expected to boost sales further. A key event has just been the announcement of commercial tenants. The Artisan Heritage Village, welcomes the Britannia Beach General Store by The Boat Shed Hospitality Group, the Copper Beach Bar + Kitchen by the IRL Group and a Daycare. Special thanks to Will Millard and his team for their exceptional work in creating these homes.
PURA
Over 98% of Phase 1 West framing is complete, with plumbing and roofing progressing well. Efforts are now focused on preparing show suites for the remaining homes. East of the firewall, framing has reached the 3rd floor, with Phase 2 gearing up for a seamless continuation. The site, busy with varied activities, is well-managed and impressing onlookers with its speedy development. Pura’s addition to Surrey Central City will significantly enhance the area, reflecting our goal to redefine value in the market with 189 homes already sold. Sales leaders Chrissy Turner and Candice Belcourt have played pivotal roles in maintaining strong pricing. Upcoming milestones include the Presentation Center’s closure by end of June and its in building Presentation Centre re-opening in September marking the final chapter for Pura.
SÕL & RED SÕL
Red SÕL’s Building B is nearly finished framing, needing only windows and detailing, while the roof is nearing watertight status. Window fitting and interior rough-in, including cast iron drainage, are progressing. Building A’s suspended slab is completed marking a milestone with the challenging parkade almost done. Framing on Building A has reached the third floor. Situated atop Burquitlam hill, SÕL boasts views that compete with some high-rises, highlighted by its prominent project cranes and illuminated ADERA signs at night. With all 92 homes sold, thanks to Linda Therrien and her team, focus shifts to enhancing homeowner experiences through customization options. With the Presentation Centre now closed, anticipation grows for the Kestrel Presentation Center’s August launch, offering new prospects in West Coquitlam. The leasing of the 109-unit mass timber purpose-built rental will begin from a fully furnished display compound in Q4 2024. Stay tuned for more updates.
ADERA IN THE COMMUNITY
GRAN FONDO
RUGBY CANADA
Date: Sunday, August 25th, BC Place
Canada vs Japan - International 15s Test Match
As witnessed by the city during the Canada Sevens in February, Adera continues to proudly sponsor Rugby Canada this year.
Mark your calendars for the aforementioned match, secure your tickets, and come dressed in your finest “Fancy Dress” costume to cheer on Canada in the festive style that rugby has become synonymous within Vancouver. This event coincides with the inaugural New Pacific 6 Nations Tournament, akin to the renowned European 6 Nations Tournament depicted in the Netflix series of the same name. Adera will be there, loud, proud, and dressed for the occasion.
Following the resounding success and enthusiasm of the 20 partners and staff who participated in the 2023 RBC Whistler GranFondo, Adera is delighted to once again cover the fees for the Adera VIP Alta Classe registration (valued at $900+) to a select group of cyclists. This exclusive offer is available to those willing to commit to group training rides, individual training, and participation in one of the three challenging distances: the Medio 55km, the GranFondo 122km, or the Forte 152km.
Group rides will commence in June, either after work, or on weekends. While attendance at these rides is not mandatory, it is highly encouraged as they provide an enjoyable and social environment for cyclists of all levels. On race day, September 7th, an aid station will once again be set up at Britannia Beach, where the Britannia cycling team can replenish their energy stores with carbohydrates in preparation for the challenging climb to Whistler. Waiting for you at the finish line is a buffet and cold beverages including beer or soft drinks, a massage and a opportunity to be photographed with old men in cycling lycra! Only a few limited spots are available for the Adera Alta Classe, so if you wish to be considered, please email Adam Weir adamw@adera.com by May 13th
For more information on the RBC Whistler GranFondo please check out the website https://www.rbcgranfondo.com/ whistler/the-ride/granfondo/ Ride On!
UPCOMING DEVELOPMENTS
By Sarah Bingham and Adam WeirRED UPPER LONSDALE
Tenants vacated the building in January 2024. We continue to work closely with the City of North Vancouver on the full Building Permit issuance, which we expect in Spring 2024. CONSTRUCTION: This is a small, challenging site on a busy street with very close overhead BC Hydro Powerlines. Prefab walls and CLT floors are most beneficial on tight sites like this one. Asbestos abatement is complete, and once demolition is finished, we’re hopeful to obtain the Building Permit. With IFT drawings in hand, we’ve initiated the tendering process for this 60-unit, 6-storey purpose-built rental building in the City of North Vancouver.
RED EAST 16 TH
Staff at the City of North Vancouver have given us permission to proceed with our first 12-storey building! Our initial application for the site was two 6-storey rental buildings, which complied with the city’s Official Community Plan (OCP). Due to its location and the City of North Vancouver’s progressive stance on mass timber, we received approval to submit an application for one 12-storey mass timber building (comprised of rental and condo units) and one 6-storey (all rental) mass timber building comprising of 250 homes. We anticipate submitting a rezoning and development permit application with an OCP amendment in the spring.
KESTREL
Previously known as Thompson, this site is located on a quiet residential street in West Coquitlam and is a 15-minute walk to the Burquitlam SkyTrain station. The proposed stacked townhouse product will be similar to our Duet CityHomes project, including 118 units with one-level units on the ground floor and two and three-level units above, complete with Adera’s signature roof decks.. We received our first comments from the Planning Department and resubmitted the drawings in late 2023. We are working toward first and second readings at Council in summer 2024, and construction will start mid next year.
WELLWOOD
This new site is located between Cochrane and Brookmere Avenues and Bosworth and Denton Streets in Coquitlam. While the site is less than a 15-minute walk to the Lougheed Town Centre SkyTrain station, it is also nestled in greenspace with a creek to the west and The Vancouver Golf Club to the east. We are preparing a full Development Permit package for submission in the spring, exploring the opportunity for more density under the recent legislative changes which would permit up to 270 units in two 8-storey buildings. We also have the opportunity to purchase the remainder of the block, allowing 415 units in three buildings.
9488 134 STREET, SURREY
This is a new site in Surrey City Centre with 152 market unit condos. It has Third Reading and we expect final Council adoption in late 2024 with a construction start in Spring 2025.
ADERA DAY 55
By Kevin Mahon55 years is an extraordinary milestone for Real Estate Development companies! Congratulations to every one of you for your role in our remarkable journey and successful history, because “People are our superpower.” Alongside this, our success has been fueled by:
• Exceptional Financial Acumen
• A culture of perpetual enhancement, agility and innovation
• The pillars underpinning our quest for “Buildings for Better lives,” as outlined by our clients in 2025, revolve around:
• Sustainability, manifested through Fitwell and our Smartwood® design ethos embedded in our ongoing projects.
• Collaborations, where we lean on “Best in class” Trades suppliers and consultants, facilitating continuous enhancements, and the collective pride we all share in striving for excellence.
• Continual testing enhancements that our customers value and are willing to pay for. These elements epitomize what it takes to thrive as a company in this industry for 55 years.
