ProCura Edmonton Team at Intact Insurance Building. Photo by Epic Photography
ProCura, Building
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roCura is one of Western Canada’s most innovative, successful and respected property development and management companies, and continues to transform the good life in Edmonton. Since 1979, ProCura has designed trend-setting landmarks and communities in the city, as well as in Calgary 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 partner of 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 from the development of ground-breaking properties, as well as tremendous consumer experience based on complete respect for commercial and residential tenants, George, president and CEO, credits ProCura staff and development partners for the company’s success.
Lifestyles
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By John Hardy
Central Tower – Century Park
Intact Insurance Building – Jasper Avenue – LEED®GOLD
He 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 that suits their daily lives,” he says. “Our commercial tenants 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.” Sherry outlines some changing aspects of the development industry, such as 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. The sustainability of our buildings is vital, and there are many tangible benefits of developing or retrofitting to meet the new sustainability standards.” The widely popular Leadership in Energy and Environmental
Congratulations ProCura on 35 years of Success!
Congratulations ProCura
Innovative thinking. Practical results.
Design (LEED) 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. LEED continues to re-define ProCura processes and protocols. 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. “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, work performance and significantly reduced levels of absenteeism,” Sherry says. “It also provides a better quality of life experience that attracts and
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For more information please contact our hotline @ 780-496-5698
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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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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,” George 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 high-end, inner city condos, have priced themselves out of the condo buyer market. He says that five or 10 years ago, the consumer could buy an Edmonton condo for $150,000. “CMHC only required five per cent down and there was a lot of demand from a large pool Mayfair Village North – Jasper Avenue of purchasers. Today, the price is more like $300,000. CMHC wants at least 20 per cent retains long-term tenancies in our residential properties, and down and it requires substantial equity, Let’s face it. There just retention is the biggest advantage in our industry.” aren’t many potential condo buyers out there with $60,000 in The Schluessels knows that approved land is still the pivotal asthe bank.” pect of effective and valuable development. It’s also a ProCura It is the key reason why George and other industry insiders warn competitive-edge and ranks the company in a league of its own. that price points have pretty well ruined affordability, shrunk the “We have been on a steady course with our long-term strategy condo market, and are why developing condo buildings is no and approach about land acquisition and the development of longer a viable business. new properties,” George explains. ProCura’s quality of development and innovative strategy are Some excellent examples of lifestyle-driven ProCura designs and proving that Edmonton’s present and future are residential and developments are: Edmonton’s award-winning, LEED®GOLD commercial rental properties. certified Intact Insurance building; the improved redesign of The Schluessels are candid, explaining that with all factors Mayfair Village North; and the urban community at Century taken into account, developers must build smaller units just Park, which will include the imminent Central Tower, Time to make the numbers work. The going rate for an outstandSquare and the Louvre. ing ProCura rental unit in Edmonton ranges between $1.60 to “ProCura has an extensive inventory of land. We have land for $2.20 per square foot. at least 5,000 suites, enough to last us 20 years,” George conIn addition to developing award-winning properties, ProCura is deditinues. “And we now also offer a full range of client services to cated to giving back. The community is at the core of everything complement our diverse asset base.”
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says with pride and emotion. “We will gradually transition ProCura does. The company is a generous and long-term supporter of ProCura to employee ownership. It will allow us to stay on and local causes – from Big Brothers Big Sisters and the Heart and Stroke mentor.” Foundation to the Art Gallery of Alberta and many others. The high-energy married couple are good natured about their This year, the company launched the “Signs of Change Project,” hectic professional and personal schedules and laugh off clichés an ambitious initiative to engage the real estate industry across about the hazards of couples Canada in a model of CSR where working together. shared value is created. For ex“We are fortunate to have a ample, the large hoardings that unique soul mate relationship. surround ProCura’s project sites When it comes to work, we are are high-profile, high-value focused and passionate about difvenues for partners to advertise ferent aspects of the business,” their brands and services. Partsays Sherry. “And we enjoy being ners who invest in advertising busy and achieving, together.” at the sites are also investing The distinguished, 35-year track in the community, as ProCura record of innovation, long-term donates that ad revenue, as relationships with contractors well as provides $250,000 in and trades, and the loyal respect matching funds, to a range of of property residents are the ullocal, non-profit organizations. timate testaments to ProCura’s Aside from the emerging trends ProCura president and CEO George Schluessel and senior managing partner Sherry Schluessel. excellence. in the development industry, the Photo by Melissa Arthur “Our unconditional ProCura Schluessels are gung-ho about strategy and promise,” Sherry emphasizes with conviction and some exciting changes that are about to happen at ProCura. “We a radiant smile, “is the highest standards of quality, affordabilhave a truly exceptional staff. They are loyal, hardworking, creity, sustainability and the kind of lifestyle and workplaces that ative and dedicated. It’s time we stepped back a bit and give our people want and deserve.” staff a similar kind of opportunity that was given to us,” George
www.procura.ca
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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