ProCura Calgary Team at ProCura’s office. Photo by Melissa Arthur
ProCura,
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Building Lifestyles
By John Hardy
roCura is one of Western Canada’s most innovative, successful and respected property development and management companies. Since 1979, ProCura has designed trend-setting landmarks and communities in Calgary, as well as in Edmonton and Vancouver. As ProCura expands its diverse portfolio of residential, office, retail and mixed-use buildings, the company will continue to promote and foster the creation of vibrant, livable spaces. ProCura has earned an exceptional reputation among industry and municipal stakeholders for the performance and quality of its services – from development, investment and asset management to property management, leasing and marketing. As ProCura owners George and Sherry Schluessel point out with passion and energy – affecting people’s lives is what it’s ultimately all about. “Key business aspects like the timely acquisition of land, desirable locations, return on investment (ROI), and the innovative design and development of great properties are essential, of course,” says Sherry, senior managing ProCura Grand - 4th Street and 11th Avenue SW
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partner at ProCura. “But when you get right down to it, the entire process and the finished product is about people. It is all about relationships. The attention to detail, quality of construction, and an understanding of what people want and what lifestyle they are looking for – these are ProCura priorities.” With more than 35 years of solid industry savvy and expertise gained from the development of groundbreaking properties, as well as tremendous consumer experience based on complete respect for commercial and residential tenants, George, the president and CEO, credits ProCura staff and development partners for the company’s success. He emphatically underscores that the company’s true focus is people. “We put a lot of thought about the eventual residents of our buildings. While suburban product is different from downtown product, all residential tenants have a right to expect an affordable and quality home
The Montana and Emerald Sonte - Beltline
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Congratulations ProCura
Innovative thinking. Practical results.
that suits their daily lives,” he says. “Our commercial tenants also demand and deserve the best possible location and the facilities to enable them to conduct efficient business and make their organizations grow. ProCura is committed to ensuring they get what they need and what they are looking for.” Although Sherry recognizes that location-location remains the common and almost sacred mantra of real estate development, she also points to the changing aspects of the development industry, fluctuating market factors and shifting consumer trends. “Sustainability and the environment are vital ProCura issues and increasingly important considerations for our residential and commercial tenants,” she explains. “The sustainability of our buildings is an enormous ProCura factor. From the design to the construction, there are many tangible benefits of developing or retrofitting to meet the new sustainability standards.” The widely popular LEED (Leadership in Energy and Environmental Design) program is an environmental building rating system that has already transformed the building industry for a more sustainable and healthy future. LEED offers third-party certification for green buildings and provides developers with an effective way to use various “green” aspects in everything from building design, construction and operations all the way to routine maintenance. ProCura is proactively committed to sustainability and has an in-house LEED-accredited team that specializes in developing, integrating and maintaining LEED protocols at all new commercial and residential properties. “ProCura understands the big impact that design and construction have on the environment. That’s why we have
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Congratulations
ProCura Real Estate Services Ltd. on 35 years of innovation and crafting remarkable places to work, live, and grow! Yardi is proud to provide industry-leading real estate software solutions to your business.
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ProCura senior managing partner Sherry Schluessel with The Montana model 28th floor ProCura offices. Photo by Melissa Arthur
chosen a leadership role in applying the latest technologies and practices, so we can be more efficient and reduce the ecological footprint of our buildings,” says Sherry. “There is a win-win pay-off! Reduced energy costs and water usage, increased air quality and more natural light in our commercial properties have been shown to cause 16 per cent higher levels of employee productivity and work performance and significantly reduced levels of absenteeism. It also provides a better quality of life experience that attracts and retains longterm tenancies in our residential properties, and retention is your biggest advantage in our industry.” The Schluessels know that approved land is still the pivotal aspect of effective and valuable development. It’s also a ProCura competitive-edge and ranks the company in a league of its own. “We have been on a steady course with our long-term strategy and approach about land acquisition and the development of new properties,” George explains.
Some excellent examples of the lifestyle-driven ProCura design and development are the timeless and classic elegance of The Montana, the award-winning Emerald Stone community; and the impressive, up and coming ProCura Grande at 4th Street SW and 11th Avenue SW. “ProCura has an extensive inventory of land. We have land for at least 5,000 suites, enough to last us 20 years,” George notes. “We now also offer a full range of client services to complement our diverse asset base.” Whether industry-driven, economy-driven or consumer and lifestyle-driven (or all three), various aspects of project development have changed dramatically, especially during the past six years since the 2008 downturn. “Our focus is now residential and commercial rental properties,” he says, highlighting ProCura’s new business strategy. ”We are out of the condo business. Condo buildings require heavy pre-sell, the developer has all the risks, and I’m not sure if condos, especially highend, inner city condos, have priced themselves out of the condo buyer market.” He says that 5 or 10 years ago, the consumer could buy a Calgary condo for $150,000. “CMHC only required five per cent down and there was a lot of demand from a large pool of purchasers. Today, the price is more like $350,000. CMHC wants at least 20 per cent down and it requires substantial equity,” George adds. “Let’s face it. There just aren’t many potential condo buyers out there with $70,000 in the bank.” North American statistics also show that the condo market has gone out of whack. New York City condos sell for more than $3,000 per square foot. Some Vancouver and Toronto condos – and recently some high-end Calgary condos –
Congratulations! Congratulations! Servus proudly congratulates ProCura on 35 years in business. When it comes to business, lasting relationships lead to greater rewards. Get the Servus Business Banking team working for you. Let’s talk. servus.ca | 1.877.378.8728
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Congratulations to ProCura Real Estate Services Ltd on 35 years in business. Calgary Main branch 606 - 4th Street SW / P: 403.262.8700 cwbank.com
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Toasting 35 Years of Building Excellence
Arrow Engineering proudly salutes valued client and industry leader, ProCura Real Estate Services, for their time-tested success. We celebrate their remarkable contribution to the community and look forward to collaborating on more groundbreaking real estate projects as we expand into Calgary.
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sites are also investing in the community, as ProCura donates that ad are selling for $1,000 per square foot. It is the key reason why revenue, as well as provides $250,000 in matching funds, to a range George and other industry insiders warn that price points of local, non-profit organizations. In Calgary, ProCura expects to have pretty well ruined affordability, shrunk the condo marcontribute $500,000 to Big Brothers Big Sisters. ket, and are why developing condo buildings is no longer a Signs of Change will enable viable business. ProCura, its partners and the ProCura’s quality of developindustry to have a positive and ment and innovative strategy are profound impact in cities coastproving that Calgary’s present to-coast. and future are residential and Aside from the emerging commercial rental properties. trends in the development The complex bottom line includes industry, the Schluessels are crunching numbers like the ROI gung-ho about some exciting on the cost of land and the cost per changes which are about to square foot of construction. happen at ProCura. The Schluessels are candid, ex“We have a truly exceptional plaining that with all factors takstaff. They are loyal, hardworken into account, developers must ing, creative and dedicated. It’s build smaller units just to make time we stepped back a bit and the numbers work. The going rate give our staff a similar kind of for a superb ProCura rental unit opportunity that was given to in Calgary ranges between $1.80 us,” George says with pride and to $2.25 per square foot. ProCura president and CEO George Schluessel and senior managing partner Sherry Schluessel. Photo by Melissa Arthur emotion. “We will gradually In addition to developing awardtransition ProCura to employwinning properties, ProCura is ee ownership. It will allow us to stay on and mentor.” dedicated to helping charitable and social organizations that are The high-energy married couple are good natured about making a real difference in people’s lives. Giving back to the comtheir hectic professional and personal schedules and laugh munity is at the core of everything ProCura does. The company off clichés about the hazards of couples working together. is a generous and long-term supporter of local causes – from the “We are fortunate to have a unique soul mate relationship. Heart and Stroke Foundation, Inn from the Cold and Big BrothWhen it comes to work, we are focused and passionate about ers Big Sisters to the YWCA Calgary, Gold Medal Plates and different aspects of the business,” says Sherry. “And we enjoy many others. being busy and achieving, together.” This year, the company launched the “Signs of Change Project,” an amThe distinguished, 35-year track record of innovation, longbitious initiative to engage the real estate industry across Canada term relationships with contractors and trades, and the loyal in a model of CSR where shared value is created. ProCura wants respect of property residents are the ultimate testaments to to inspire property developers and their networks of partners to ProCura’s excellence. participate in opportunities where business and social benefits are “Our unconditional ProCura strategy and promise,” Sherry generated together. emphasizes with conviction and a radiant smile, “is the highest For example, the large hoardings that surround ProCura’s project standards of quality, affordability, sustainability and the kind sites are high-profile, high-value venues for partners to advertise of lifestyle and workplaces that people want and deserve.” their brands and services. Partners who invest in advertising at these
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