CAM June 2021

Apartment CANADIAN

VOLUME 18 / NUMBER 3 / JUNE 2021

THE RIGHT STUFF DOES YOUR BUILDING HAVE WHAT TENANTS WANT?

plus

WHO’S WHO 2021

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We concentrate on revenue growth, controlling expenses, and strategic capital investment in your property to maximize your profitability over the long term — when you’re ready to discuss a better option; we’ll be there. You can count on it.

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EDITOR’S NOTE>>

Apartment CANADIAN

TO BETTER DAYS

/cammediaedge /cdnapartmentmag /mediaedgecam

Thank goodness for science and the indusputable evidence that vaccines really do work wonders. As we head into summer, Canadians are finally able to collectively sigh in relief that the COVID-19 crisis is largely behind us. Sadly, only the lucky few survived the past year unscathed, as businesses shut down and losses of all kinds were incurred by the masses. The rental housing sector faired better than most—because as we are reminded through any crisis, there is nothing more important than having a safe place to call home.

This issue of Canadian Apartment contains our annual “Who’s Who” ranking of the top movers and shakers in the industry. A shoutout to all those who took the time to share information regarding their company’s portfolios, as it enabled us to compile a list of value to the sector. A digital version will appear on our website shortly; if an update is required, please reach out to let us know.

Other topics you will find in this issue include: Proptech in a postCOVID world; recent apartment transactions and rental market info; the scoop on solar technology and columnist Andy Schwartze’s take on where the cryptocurrency trend is taking us.

If you have a story idea or a press release you’d like to share for consideration, please email me at erinr@mediaegde.ca, and as usual, be sure to visit www.reminetwork.com daily for timely news and commentary.

Editor

Erin Ruddy

Art Director

Annette Carlucci

Graphic Designer

Thuy Huynh

Production Manager

Rachel Selbie

Contributing Writers

Andy Schwartze

National Sales

Bryan Chong Kelly Nicholls Blair Wilson

Digital Media Director Steven Chester Circulation

Rob Osiecki For sales information call (416) 512-8186

Canadian Apartment Magazine is published six times a year by:

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rent trends

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AVERAGE RENT BY PROVINCE: APRIL 2021 Source: rentals.ca

$1,780 $900

$1,850

$1,150 $975

$1,297

$1,800

$1,547

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Apartment CANADIAN

VOLUME 18 / NUMBER 3 / JUNE 2021

FEATURES 17 Who’s Who 2021 A breakdown of the Canadian Apartment Industry.

35 Blending History with Tomorrow’s Needs Jesta Group unveils Place Gare Viger 36 Multi-res Tackles Zero Waste What three buildings accomplished in 2020

COLUMNS 8 Transactions Rental Demand in Canada 10 CMHC The Path to Economic Recovery

by Graeme Huycke 32 Newsworthy Industry Hot Topics 36 Ask the Expert Merging Architecture with Green Energy 40 Insurance Now Accepting Bitcoin

by Andy Schwartze

COVER STORY

DEPARTMENTS

Apartment

24 Health, Wellness & The Internet

Is your apartment equipped for success?

by Erin Ruddy

4

THE RIGHT STUFF

CANADIAN

Editor’s Note

DOES YOUR BUILDING HAVE WHAT TENANTS WANT?

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A modern apartment building in Vancouver, B.C.

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WHO’S WHO 2021

46 Smart Ideas TECHNOLOGY

Or visit our award-winning website: www.REMInetwork.com

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VOLUME 18 / NUMBER 3 / JUNE 2021

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DIVERSIFIED CONSTRUCTION

24 HOUR EMERGENCY SERVICE ASPHALT PAVING CONCRETE PAVING SITE servicing LANDSCAPE CONSTRUCTION BUILDING RESTORATION WINTER SNOW SERVICES service@forestgroup.ca 416.524.3000 www.forestgroup.ca

2021 RENTAL MARKET HIGHLIGHTS Sales activity is picking up as Q2 winds down Multi-residential assets are gaining momentum as we head into the summer months thanks to vaccination numbers rising, allowing for pandemic restrictions to be lifted all across Canada.

A

s Q1 came to a close this spring, some areas appeared to be doing better than others. According to market data from Altus Group, sales activity in both Montreal and Vancouver were led by multifamily transactions, with the Greater Montreal Area experiencing record high levels of activity as private investors took advantage of low interest rates.

Meanwhile Calgary, which suffered immensely in 2020 due to economic challenges exacerbated by the pandemic, experienced a relatively strong first quarter, which could carry momentum through the first half of the year.

Overall, multi-residential assets have seen increasing momentum, with continued demand in the Vancouver, Ottawa and

Halifax markets. Suburban Multiple Unit Residential cap rates rose slightly to 4.34%, up from 4.29% in Q4 2020 and up from 4.25% at the same time last year. Toronto was the only market to see a drop in rates, while Montreal, Halifax and Edmonton remained stable quarter over quarter. Compared to the previous year, Halifax was the only market to see a drop.

New & Notable Transactions: Address

1.

6289 Mcleod Road

City

Sale Price (Millions)

Sale Price/Unit

Date of Transaction

Niagara Falls, ON

$12,170,000

$312,051

May 7, 2021

2.

646 Main Street East

Hamilton, ON

$2,675,000

$297,222

May 3, 2021

3.

659 Stirling Avenue South

Kitchener, ON

$8,600,000

$286,667

May 5, 2021

4.

135 Allan Street

Oakville, ON

$31,500,000

$450,000

April 29, 2021

5.

1 Mill Hill Road

Nepean, ON

$5,609,853

$51,467

May 3, 2021

8 | Canadian Apartment | Part of the REMI Network |

TRANSACTIONS >>

In 2020, the multifamily and residential land sector recorded $8.2 billion and $8.0 billion, respectively, down 17% and 12% from the previous year. Together, these two asset classes composed 38% of the year’s total activity.

Source: Altus Group

June highlights In early June, CAPREIT completed the acquisition of two Montreal rental properties comprised of five buildings and 154 suites.

CAPREIT paid approximately $30.6 million for the portfolio located in the west end of the city at 4080-4140 Côte-Sainte-Catherine and 5460 Sunnybrooke. Occupancy at both properties was 95.5 per cent at closing, with both having recently undergone significant exterior and common area renovations, as well as some suite upgrades.

Starlight Investments, meanwhile, completed several acquisitions, including an eight-property portfolio in Victoria, B.C. comprised of 485 units. “Victoria offers great accessibility and a wide range of job opportunities, coupled with the surrounding natural environment, warm summers, mild winters and a high quality of life – people from around the world choose to make Victoria their home,” said Daniel Drimmer, President and Chief Executive Officer.

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The Path to Economic Recovery Insights from the 2021 Housing Market Outlook The annual Housing Market Outlook (HMO) forecasts that home sales and price growth will moderate from unsustainable 2020 levels within the next two years, while the hard-hit rental housing sector will start to see recovery with the return of international students and net migration to Canada.

10 | Canadian Apartment | Part of the REMI Network |

CMHC REPORT >>

“C

OVID-19 has had unprecedented impacts on Canada’s urban centres.

While some sectors of the economy have struggled to adapt to pandemic conditions, housing activity has been strong and somewhat disconnected from overall economic and employment conditions in many centres,” said Bob Dugan, CMHC’s chief economist. “Economic conditions are expected to return to pre-pandemic levels by the end of 2023, if broad immunity to COVID-19 takes hold by the end of 2021. This includes the pace of home sales and prices, which we expect to see moderate from 2020 highs over the same period. However, significant risks remain with respect to the path, timing, and sustainability of the recovery.”

The outlook assumes the five-year mortgage rate will increase but remain very low by historical standards until the end of 2023. It’s not certain if the shift toward work-from-home arrangements, which is a factor in driving housing demand from more expensive CMAs to less expensive markets, will persist after the pandemic, causing risk to the forecast. With the unprecedented uncertainty caused by the COVID-19 pandemic, CMHC will continue to closely monitor the health of Canadian housing markets and release updates as necessary.

Rental demand in key markets Rental demand will recover once immigration and inter-province migration resume, along with in-class learning and the return of international students.

However, CMHC anticipates that vacancy rates will likely remain elevated, compared to pre-COVID levels.

Toronto The recovery of the rental market in Toronto is primarily contingent upon how soon the pandemic is brought under control. Employment losses have been concentrated among younger workers, a disproportionate amount of whom are renters. International migration, which is a key driver of rental demand, has slowed significantly.

Prevalence of Secondary Units in Ontario Homes CMHC estimates say that nearly one out of six ground-oriented homes in Toronto is equipped with a secondary unit, totalling approximately 75,000 units across the city, making it the municipality with the highest ratio in Ontario.

Commonly referred to as basement apartments, accessory apartments, in-law suites and laneway homes, past attempts to estimate the number of these units, including by CMHC, were unsuccessful due to a lack of reliable data. But now, using the Municipal Property Assessment Corporation’s (MPAC) database, CMHC researchers created a method to identify which properties in 28 Ontario municipalities contain a secondary unit.

“This report hopes to provide more accurate data and analysis on secondary units to housing stakeholders, particularly at the municipal government level,’’ said Anthony Passarelli, Senior Analyst with CMHC. “Along with the creation of new purpose-built rental apartment structures, secondary units help to address shortages of affordable rental housing.’’

Estimated percent of homes with secondary units by Ontario municipality:

9.6% 8.9% 8.4% 7.4% 3.3% 3.1% Brampton

Sudbury

Thunder Bay

New rental units under construction may face longer lease-up periods in a slower market. Typically, newly launched projects take up to 12 months for full lease-up.

With lower tourism levels and short-term rentals restricted to principal residences, some condominium apartment units will continue to be converted into long-term rentals, thereby increasing supply and lowering rent growth.

Due to current uncertainty, planned purpose-built rental projects may be on hold, which could adversely affect new supply.

The slowdown in new construction will be concentrated in downtown cores with higher land costs, such as Toronto Centre, where new rental projects need to command high rents to be financially viable.

Vancouver The COVID-19 lockdown resulted in a major decline in the typical flow of migrants into

Mississauga

Ottawa

Hamillton

the Vancouver region, where growth in rental market demand is heavily contingent on international migrants, young adults and students. The disruption of this segment is most clearly seen in the University Endowment Lands’ high vacancy rate in 2020. Meanwhile, job losses were most concentrated for Vancouver’s young and low-income workers, for whom homeownership is not an immediate financial reality in most cases.

Multifamily units will account for both the majority of starts and the majority of growth.

Condominium apartment starts will remain the dominant construction form. Overall, the forecast is driven mainly by condominium apartments, but rental apartments will remain a growing segment, given a large and persistent cohort of young adults (under age 30) in the Vancouver population. | www.REMInetwork.com | June 2021 | 11

CMHC REPORT >>

Rental demand will recover once immigration and inter-province migration resume, along with in-class learning and the return of international students.

apartment units were completed, adding to supply, while demand remains weak.

Calgary In addition to job losses from pandemicrelated lockdowns and uncertain credit conditions in the first quarter of 2020, the Calgary census metropolitan area (CMA) was hit especially hard due to its exposure to the energy sector. Significant job losses brought apartment vacancies up to a level last seen in 2017.

While the primary rental supply is projected to continue growing, CMHC expects the level of returning net migration and employment to lower vacancy rates in the near future; however they are not expected to reach prepandemic levels in 2021.

Both single-detached and multi-unit new constructions are expected to moderately increase in 2021, driven by recovering economic conditions, stabilized financial conditions, and the expected return of migration.

Hamilton Rental demand will likely outpace supply in Hamilton owing to a combination of factors.

The employment recovery in service sector industries hardest hit by the pandemic will stimulate greater rental demand. So will higher international migration and a greater number of post-secondary students returning to the classroom. With homeownership costs rising much faster than incomes, expect few renters to transition to homeownership. A decrease in the vacancy rate would place strong upward pressure on average rents.

12 | Canadian Apartment | Part of the REMI Network |

Kitchener-Cambridge-Waterloo (KCW) The primary rental market is expected to remain tight, similar to 2020 conditions.

Demand will remain strong, with the average vacancy rate expected to linger below the 10-year historical average (2.3 per cent) despite supply additions over the last several years. While the purpose-built rental stock in the KCW CMA has increased by an annual average of more than 1,300 units since 2016, the average vacancy rate has not exhibited an upward trend, suggesting tight conditions.

Ottawa CMHC anticipates the vacancy rate in 2021 will remain above the 3.9% reported in its latest Rental Market Survey (October 2020).

Online studying, which reduced the number of domestic and international students, lower immigration, and a decline in youth employment placed downward pressure on rental demand.

It is unclear if students will return physically to campuses this fall. Moreover, demand conditions have deteriorated since October due to the second lockdown this winter. This led households to move out of the more expensive core areas or to move back in with family. As well, since the Survey was conducted, another 821 purpose-built rental

Montreal Net migration in Québec declined sharply in 2020, particularly in the Montréal census metropolitan area (CMA), where most newcomers settle. Even if some border restrictions are lowered during the year, net migration is expected to remain relatively low in 2021. This will limit growth in rental demand.

Despite a very limited supply of condominiums for sale, the number of starts in this segment will remain low. Multi-unit project developers will continue to focus on the rental sector rather than on condominiums.

Rental construction will be supported by low vacancy rates in several geographic areas.

Nevertheless, uncertainty surrounding the growth in rental demand in sectors most affected by the decline in net migration will temper activity. Uncertainty about the demand for spaces in seniors’ residences as the pandemic continues could also limit construction.

Speed of recovery The precise timing and speed of the economic recovery in major markets is highly uncertain, and outlooks remain subject to significant risks. These include a slower-than-expected reaching of broad immunity to COVID-19 and stronger-than-expected inflationary pressures leading to higher mortgage rates.

As Canada’s authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer unbiased housing research and advice to Canadian governments, consumers and the housing industry.

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HOW MULTIFAMILY THRIVES NOW

By Peter Altobelli, vice president and general manager, Yardi Canada Ltd.

If you are among the many Canadian executives who fast-tracked contactless solutions in 2020, you already know how to pivot your business to keep operations going and maintain resident satisfaction. Moreover, you are likely aware of the long-term benefits of leveraging real-time data and creating a digital ecosystem for communications, services, and payments.

If you’re still aligning your business and technology strategies, here are a few key elements to consider for retaining quality residents, optimizing operations, and maximize cost savings.

Focus on what matters most People are the centre of your business, be it the renter or prospect. Having the right tools in place is essential to successfully manage those relationships and maintain or enhance service levels. This translates to automating every aspect of marketing from an engaging digital presence, an entirely virtual lead to lease process, a portal to manage resident transactions including rent payments and maintenance requests and to building a community with virtual events. Finally, invest in a comprehensive CRM system that will help track and administer all exchanges effectively, giving your team the ability to focus on providing excellent customer service.

By leveraging technology in your processes, you can articulate ROI as you measure and analyze marketing investment versus results more accurately. At a time where the business and social aspects of peoples’ lives are moving to virtual, it is essential to bring the contactless experience to your marketing and customer service.

Simplify the procurement lifecycle Automating supply purchasing, invoice processing and vendor management makes sense even when your workforce is not remote. Similarly, going paperless with your suppliers wasn’t a top priority in 2019, but last year’s digital transformation has confirmed that it can be achieved. By providing your vendors with an online portal you can easily capture and approve invoices, 16 | Canadian Apartment | Part of the REMI Network |

purchase orders, and payments within one platform. Property Managers and Operators that have integrated technologies such as payment and vendor portals, along with online marketplace, have seen minimal disruption in service levels, gained control of MRO spending and retained a competitive edge.

Regardless of when you take your transactions online, collecting and centralizing your data will unlock potential cost savings.

Increase energy efficiency Utilities is often a property’s largest controllable operating expense but with rising ESG demands, energy managers and operators are seeking innovative technology that goes beyond metering. The most effective method for reducing these costs is by gaining visibility across your portfolio with an energy management tool that automatically connects your data for utility consumption, invoice processing, billing and benchmarking reporting. Accessing real-time analytics keeps stakeholders in sync and up-to-date and it also puts property owners in control of maintaining the property value.

Get connected For more tech best practices or insights, reach out to your peers and consult with industry experts. Tech is here to stay, and with a mobile platform that connects every aspect of your business, you will be in the best position to succeed and drive higher revenue.

People are stronger when working together, and the same is true for technology.

For more information about Yardi, please call (888) 569-2734 or visit yardi.com

CANADIAN APARTMENT WHO’S WHO 2021

IN THE CANADIAN APARTMENT INDUSTRY

MANAGE ONLY

CERTIFIED NUMBER OF RENTAL UNITS BUILDING

MetCap Living Management Inc.

20,515

The DMS Group

19,400

Greenwin Inc. Briarlane Rental Property Management Inc. Sterling Karamar Property Management Société de Gestion Cogir Gateway Property Management Corporation Park Property Management Inc.

OWN ONLY Manulife Investment Management I.G. Investment Management, Ltd.

CERTIFIED NUMBER OF RENTAL UNITS BUILDING

1,699 1,609

MANAGE & OWN

CERTIFIED NUMBER OF RENTAL UNITS BUILDING

Starlight Investments

59,917

CAPREIT

45,129

18,458

Westcliff

1,350

14,750

Sabjoy Inc.

1,216

Boardwalk Rental Communities Homestead Land Holdings Limited

14,600

Lanesborough Real Estate Investment Trust

1,070

Realstar Management

23,622

12,375

QuadReal

847

Hazelview Investments Inc.

22,329

614

Skyline Apartment REIT

19,770

458

Killam Apartment REIT

17,048

Mainstreet Equity Corp.

13,831

Northview Canadian High Yield Residential Fund

11,121

9,170 9,138

Crestpoint Real Estate Investments Ltd. Choice Properties Real Estate Investment Trust

GWL Realty Advisors

9,094

Vancor Group Inc.

381

Devon Properties Ltd.

8,590

Ivanhoe Cambridge

300

33,396 26,059

| www.REMInetwork.com | June 2021 | 17

CANADIAN APARTMENT WHO’S WHO 2021

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

BUILDINGS BOTH

TOTAL

MANAGE

OWN

BOTH

TOTAL

1

Starlight Investments

59,917

59,917

1,449

1,449

2

CAPREIT

45,129

45,129

551

551

3

Boardwalk Rental Communities

33,396 33,396

220

220

4

Homestead Land Holdings Limited

26,059 26,059

210

210

5

Realstar Management

23,622 23,622

257

257

6

Hazelview Investments Inc.

22,329 22,329

230

230

7

Greenwin Inc.

18,458

20

232

8

MetCap Living Management Inc.

20,515

9

Skyline Apartment REIT

10

The DMS Group

11

Killam Apartment REIT

12

Briarlane Rental Property Management Inc.

14,750

13

Société de Gestion Cogir

12,375

14

Sterling Karamar Property Management

14,600

15

Mainstreet Equity Corp.

16

Centurion Asset Management Inc.

17

Northview Canadian High Yield Residential Fund

18

3,395

21,853

212

20,515 19,770

19,400

19,770 19,400

17,048

2,366

226 151

151

17,048

206

14,750

199

14,741

110

14,600

170

226

206 199

22

132 170

13,831

13,831

272

272

10,127

11,335

81

81

11,121

11,121

315

315

Medallion Corporation

10,573

10,573

77

77

19

InterRent REIT

10,226

10,226

246

246

20

QuadReal

9,217

10,064

41

46

21

GWL Realty Advisors Residential

1,583

8,330

9,913

9

40

49

22

Morguard

840

8,800

9,640

3

23

26

23

Gateway Property Management Corporation

9,170

189

9,359

210

7

217

24

Drewlo Holdings Inc.

9,338

9,338

66

66

25

Park Property Management Inc.

9,138

9,138

79

79

26

GWL Realty Advisors

9,094

9,094

44

44

27

Minto Properties Inc.

993

8,628

14

18 | Canadian Apartment | Part of the REMI Network |

1,208

847

7,635

5

178

192

CANADIAN APARTMENT WHO’S WHO 2021

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

28

Devon Properties Ltd.

29

Hollyburn Properties Ltd.

30

Berkley Property Management Inc.

31

Globe Property Management

32

Shelter Canadian Properties Limited

33

Osgoode Properties

299

34

BentallGreenOak (Canada) Limited Partnership

1,515

35

M&R Holdings

36

Prospero International Realty Inc.

37

Concert Properties Ltd.

38

Kelson Group

39

Rancho Management Services

40

OWN

BUILDINGS BOTH

8,590

7,125

5,896 266

TOTAL

MANAGE

8,590

189

7,596

7,596

200

7,325

7,276

7,276

599

6,495

48

5,125

5,690

1

3,829

5,344

10

4,810

4,810

4,300

4,300 167

OWN

BOTH

TOTAL

189

85

1

76

76

4

89

80

80

3

51

86

88

23

33

38

38

85

85

3,908

4,075

4,022

4,022

132

3,839

Williams and McDaniel Property Management

3,555

3,555

112

112

41

Old Oak Properties Inc.

3,207

3,207

24

24

42

Goldview Property Management Ltd.

2,819

2,819

7

7

43

Apollo Property Management Ltd.

2,536

2,536

21

21

44

Manulife Investment Management

45

Colliers International

46

O'Shanter Development Company Ltd.

47

Kings College Management Limited

48

Brown Group of Companies Inc., The

671

49

AWM-Alliance Real Estate Group

2,007

50

WJ Properties

1,909

1,909

12

12

51

Greenrock Property Management Ltd.

1,883

1,883

6

6

52

Lawrence Construction/Grant Management

805

1,664

16

25

53

ONNI Group

1,657

1,657

54

I.G. Investment Management, Ltd.

3,707

1,699

793

2,400 349

2,040

2,100 1,407

859

1,609

2

23

57

57 -

2,492

13

2,400

34

2,389

3

2,100

20

2,078

9

2,007

18

1,609

21

1

14 34

25

28 20

9

18 18

9

8

8

| www.REMInetwork.com | June 2021 | 19

CANADIAN APARTMENT WHO’S WHO 2021

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

55

Southwest Properties Ltd.

56

Lameer Management

57

Melchior Management 777 Corporation

58

Westcorp Property Management

59

Pacific Quorum Properties Inc.

60

Westcliff

1,350

61

Sabjoy Inc.

1,216

62

1,059

520

BUILDINGS BOTH

TOTAL

1,583

1,583

489

1,548

1,499

1,499

897

1,417

1

1,358

24

1,358

MANAGE

OWN

51

1,350

BOTH

TOTAL

28

28

14

65

58

58

4

5 24

4

4

16

1,232

Preston Group

1,190

1,190

4

4

63

Davpart Inc.

1,180

1,180

15

15

64

McCor Management (MB) Inc.

65

State Building Group

66

Lanesborough Real Estate Investment Trust

67

Twin City Management Ltd.

68

Niot Investments Holdings Ltd.

69

CaraCo Property Management Ltd.

70

Vancor Group Inc.

71

1,132

1,132 1,111 1,070

-

17

1,111

15

1,070

1,050

17

1,050

15

15 15

59

59

1,000

1,000

19

19

990

990

12

12

489

978

24

48

BlueStone Properties Inc.

961

961

11

11

72

Bedford Properties & Estates

800

800

19

19

73

Canlight Management Inc.

56

795

74

Gillin Engineering & Construction Ltd.

780

780

75

Real Estate 360 Property Advisory

76

RioCan REIT

77

Shindico Realty

94

78

Bayshore Property Management Inc.

79

108

739

381

778

778

7

17

4 19

4 19

762

762

642

736

3

715

715

18

18

Canadian Urban Limited

712

712

5

5

80

The Enfield Group Inc.

700

700

4

4

81

Arnon Corporation

82

Colonnade BridgePort

20 | Canadian Apartment | Part of the REMI Network |

640 628

-

640 628

6

5 3

9

5 3

CANADIAN APARTMENT WHO’S WHO 2021

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

BUILDINGS BOTH

TOTAL

MANAGE

616

29

OWN

BOTH

TOTAL

83

Equitable Real Estate Investment Corporation Ltd.

84

Crestpoint Real Estate Investments Ltd.

85

Atlantis Realty Services, Inc.

598

598

86

Condominium Living Management Inc.

576

576

87

Compass Commercial Realty LP

524

524

88

ViveRE Communities

89

Royal/Kente Property Management

90

Choice Properties Real Estate Investment Trust

91

Goodwood Property Investment Ltd.

92

Lionheart Property Management Inc.

400

400

93

Warrington PCI Management

356

356

8

8

94

Gulf Pacific Property Management Ltd.

348

348

4

4

95

SolutionCondo/Rentalys Solution

347

347

10

10

96

Ivanhoé Cambridge

616 614

614

502 500

15

300

10 -

11

11 17

35

458 400

17 35

3

400

300

15

10

502 500

458

29

3 3

3 -

3

3

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| www.REMInetwork.com | June 2021 | 21

CANADIAN APARTMENT WHO’S WHO 2021

CERTIFIED RENTAL BUILDING

RANK

UNITS MANAGE

OWN

BUILDINGS BOTH

TOTAL

267

267

MANAGE

252

252

18

18

99

Blackwood Partners Inc.

174

174

2

2

171

171

1

Sluis Properties

102

Glenview Management Limited

145

103

Summa Property Management

103

103

2

2

90

90

8

8

Melcor Developments Ltd.

166

166

7

7

16

161

1

1

83

83

106 Gitalis Group

80

80

107

Downing Street Property Management Inc.

73

73

108

Triovest Realty

53

53

110

Regency Group

111

ICC Property Management Ltd.

49

1

2017-03-20

1 2

7

K

30

30

-

14

14

1

12:28 PM

We manage over $2 Billion in assets owned by private families and institutional investors. Our focus is on revenue growth and vacancy reduction, while maintaining strict control over expenses. We also

Cell: 647.887.5676 k.m.shahnewaz@metcap.com www.metcap.com

22 | Canadian Apartment | Part of the REMI Network |

7 -

MetCap Living knows the importance of your property investment. With over 30 years in professional property management and experience in owning and managing all aspects of multi-unit housing, we have the expertise to boost your NOI. From Marketing, Leasing, Utilities and Site Management, Collections and Accounts Receivable, we tailor our services to your needs.

To ensure the health of your bottom line, contact: Kazi Shahnewaz, Director, Business Development

2

49

RANKED APARTMENT MANAGEMENT COMPANY

CY

1

-

#1 CMY

1

101

MetCap_CPM_WhosWho_Supplement_2017.pdf

MY

5

Equium Group

109 Dayhu Investments Ltd.

CM

5

98

105

Y

TOTAL

Canahahns Company Limited

104 Taft Management Inc.

M

BOTH

97

100 SmartCentres REIT

C

OWN

1

STABILITY AND BALANCE

AT THE TOP!

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COVER STORY >>

HEALTH, WELL & THE INTERNE Is your apartment equipped for success?

COVER STORY >>

LNESS ET

By Erin Ruddy

The world has changed drastically since March 2020, and for those in the business of owning, managing and designing multiunit rental housing, keeping up with ever-changing demands of tenants and policymakers is a constant battle. Gone are the days of basic apartments that offered four walls and a trusted roof. New buildings are decked out with hotel-style amenities and services— and without the right technology, a building is as good as a dinosaur on the brink of extinction. | www.REMInetwork.com | June 2021 | 25

COVER STORY >>

Of course, things were already headed that way before the onset of COVID-19, but now it’s mission critical. The need for technology that facilitates all aspects of a tenant’s life—working, learning, exercising, and socializing is here to stay.

“COVID-19 has ushered in significant changes in terms of the importance renters place on the value of strong, consistent connectivity within their homes,” said Andrew Freitas, Head of Canada, WiredScore. “Seventy-five per cent of respondents in a survey we recently conducted said that high-quality internet access was crucial for them to stay connected during the pandemic, and sixty-two per cent said that reliable internet access helped them to keep their jobs and work remotely.”

With apartments now doubling as offices, classrooms, gyms, and other social spaces, this comes as no surprise. As Freitas puts it, access to the internet is now as essential as the roof over renters’ heads.

“Apartment design must accommodate this increasingly techdependent way of life by, for example, ensuring that there are no “dead zones” in a renter’s living space and offering different 26 | Canadian Apartment | Part of the REMI Network |

connectivity options for them to choose the provider that best fits their requirements,” he said. “The multifamily space has planned and developed complexes to meet those needs.

And with the popularity of the co-living model rising, particularly among young professionals and city dwellers faced with affordability challenges, developers are striving to provide more community work areas in congregate living buildings equipped with robust WiFi to meet the demand of multiple tenants at once.

“Good connectivity has always been a priority for KingSett and this has only heightened as a result of the pandemic,” said Steven Gross, Vice President, Asset Management, Multi-Residential at KingSett Capital. “We work closely with WiredScore to look for ways to improve a building’s performance and continuously enhance the resident experience.”

Broadband consumption In fact, according to Freitas, broadband consumption had already been increasing at a rate of 25 per cent year over year. Then, in Q1

COVER STORY >>

“Apartment design must accommodate this increasingly tech-dependent way of life by, for example, ensuring that there are no “dead zones” in a renter’s living space and offering different connectivity options for them to choose the provider that best fits their requirements.”

2020 alone, the pandemic saw a 47 per cent increase—a trajectory that has continued ever since.

“Developers are working hard to meet this demand for larger data plans at home,” said Freitas. “One way they have done this is by building distributed antenna systems (DAS) to ensure cell phone data coverage from AT&T, Verizon, and Sprint/T-Mobile has been incorporated in the entire building and garage. Developers are also creating more communal areas within buildings to meet the demands of remote working and the desire to have other areas outside the home within the apartment complex to work.”

Calling all Canadian proptech innovators…

The National Association of realtors (NAR) is inviting Canadian proptech ventures to apply for a new round of the REACH Canada scaleup program. This is the second year NAR will search the Canadian market for promising new technologies that serve the commercial and residential real estate sectors.

“We are excited to open applications for REACH Canada’s 2021 class and we look forward to welcoming a new group of proptech innovators,” said Bob Goldberg, NAR’s chief executive officer and the president of NAR’s investment arm, Second Century Ventures.

“Their ideas and entrepreneurial spirit help ensure realtors continue to have access to the latest technology.”

Through the REACH program, successful applicants are offered accelerator services for their products and innovations, building on NAR’s extensive membership and reach in the global real estate industry. The selected Canadian proptech ventures are promised direct mentorship from up to 50 real estate, mortgage, venture capital and technology influencers, along with NAR’s guidance and access to prominent real estate industry conferences, tradeshows and networking events. They’ll also join the growing ranks of REACH companies and alumni — including the eight inaugural REACH Canada designees from 2020 — presenting opportunities to forge alliances with entrepreneurs in a similar sphere and stage. Thus far, approximately 150 REACH companies have collectively raised more than $800 million in financing and garnered a 2,000 per cent jump in revenue. Many have inked deals with major real estate and/or technology players.

“Many REACH companies have become household names,” said Lynette Keyowski, REACH Canada managing partner. “On the heels of our first successful program, we are extremely excited to continue working with companies that are not only providing immense value to the practitioner and consumer, but empowering solutions, companies and founders alike that are bringing new solutions, perspectives and strength to an evolving market and a new societal norm.”

The application intake is open until July 31. The eight-month REACH program, in virtual format, will run from October 2021 to May 2022.

| www.REMInetwork.com | June 2021 | 27

COVER STORY >>

developments to meet these new health and wellness demands,” says Freitas. “Meeting the current needs and remaining engaged with evolving technologies in areas like touchless access control, building wide IoT deployments, and smart home automation tech are being offered by the leading developments to differentiate in a hyper competitive market.”

Health & Wellness If COVID-19 has put a lens on anything, it’s the importance of occupant health and wellness. Achieving higher hygienic building standards have become central to how buildings are managed today, with

developers focusing more on features like air quality monitoring and lighting, temperature, and ventilation adjustment than in the pre-pandemic years.

“The multifamily space has seen this acceleration firsthand and have adapted their

Forward-looking trends The way we socialize, learn, work and relax is all built upon a foundation of technology, and according to Freitas, we are seeing more people subscribing to (and demanding) large “Gigabit” data plans.

“A distributed antenna system (DAS) will be essential to ensure cell phone data coverage from multiple providers and allow for 5G technologies to operate,” he said.

“Multiple access points for fiber and cable will be required to service the growing number of devices connected to the IoT in the home.”

And with the work-from-home trend proving a successful model for many,

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28 | Canadian Apartment | Part of the REMI Network |

COVER STORY >>

“The way we socialize, learn, work and relax is all built upon a foundation of technology.”

Freidas envisions that a hybrid workforce will emerge, combining remote work opportunities with in-person office work. For example, Google announced it will allow its employees to apply for a permanent hybrid workweek model, with some workers spending three days in the office and two days teleworking. This blended approach, along with the learned experience that things could change in an

instant, means that connectivity at home will remain supremely important.

Wiredscore North America Home In a recent survey by WiredScore, 80 per cent of renters said they agreed that having a home with high-quality internet access is essential and that they expect their WiFi connectivity to work like any other utility, inlcuding gas and electricity. On the flipside, over half of

all business executives (55%) say they have had issues with employees struggling with reliable internet at home.

Recognizing these challenges, WiredScore has launched WiredScore North America Home to ensure a “best-in-class renter experience” by helping residential landlords in North America navigate the complicated world of in-building technology. Find out more at: www.wiredscore.com.

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| www.REMInetwork.com | June 2021 | 29

SPONSORED CONTENT

The power of engineered HVAC maintenance specifications

I

f you want to extend the life and improve the performance of your HVAC equipment, having the right specs to maintain it counts. Specific types of equipment and technologies require different maintenance approaches, and a program that ignores these different needs could cost building owners/managers in the long run.

“Every building or facility manager has a portfolio of HVAC equipment to maintain, and they rely on their HVAC service contractor to get the job done,” says Sam Soltani, President of Trace Consulting Group Ltd. “That being said, providers typically prepare generic procedures, which at times lack the detail and additional maintenance steps required for different types of equipment.”

The challenge, he adds, is that HVAC maintenance requirements are highly technical, and most property teams don’t always know exactly what’s required to keep them working in peak condition. As a result, they entrust the design and execution of their maintenance programs to HVAC service providers who, despite their best intentions, may not be taking the most effective approach as they work from a general set of procedures that do not consider the type of equipment.

Getting the right specs Everyone benefits when HVAC equipment is properly maintained. Residents stay comfortable, managers add value with improved operating performance, and asset value is preserved. However, property teams rarely have the resources to research

SPONSORED CONTENT the requirements and set out the required procedures to determine these specs on their own. Here’s where partnering with a third-party expert can fill the gap.

“Hiring an experienced engineering team like ours is an extra step, but it’s worth it,” notes Soltani.

“The advantage is that we can come in, examine your equipment, and use our expertise to create a comprehensive maintenance specification package that can be used to tender a customized service contract.”

Think of these packages as a blueprint, he adds. By inspecting and assessing each piece of HVAC equipment, teams like Trace Consulting can help property teams zero in on a tailored maintenance routine with detailed processes that, if completed regularly, will ensure boilers, air conditioners, ventilation systems, and other equipment that provides a safe and comfortable indoor environment receives the most cost-effective care possible.

“Now, you can go to tender with a specific set of procedures and ask the contractors who will maintain your equipment to bid on a set scope of work, not just how the contractor decides they’ll be maintained,” adds Soltani.

“For example,” he adds. “A service provider who doesn’t have engineered specs to guide them might not complete proper building switch over and replace sensors only when they fail, according to their internal practices. On the other end, an engineer like myself will be able to take a closer look at the specific make and model of equipment and determine the work required for the type of boiler installed, and provide directions to calibrate a sensor to operate efficiently long before it fails”.

With these insights already baked into the specification package, property managers can tender a more precise maintenance plan, obtain competitive pricing.

“When you can go to market with an exact scope of work, you can make an apples-to-apples comparison and choose a service provider who is going to look after your equipment on your terms and budget,” says Soltani.

Added accountability Tendering an all-inclusive specification package has other advantages. In addition to giving property teams the ability to compare their offerings fairly, the HVAC maintenance specifications allow property teams to hold HVAC service providers to set expectations.

“Let’s say you go to tender with these maintenance specifications and enter a contract with a vendor who says they’ll follow them. If you are three years into a fiveyear contract and your equipment is falling apart, you now have a document you can use to hold your contractor accountable,” says Soltani.

Moreover, the same engineering firm that you retain to put together the maintenance specs can also look back over past work to determine where previous maintenance programs may have fallen short and make recommendations to get things back on track.

Return on investment At the end of the day, having engineered specifications allows property owners, condo corporations, and managers enter into maintenance contracts with confidence, knowing that the work they’re paying for will ensure the best care for their equipment.

“Getting that maintenance specification package is an extra cost, but it leads to lower overall costs through more competitive bids in the tendering process and an extended lifespan for a building’s HVAC equipment,” says Soltani, adding, “Not only does that pay for itself, but that peace of mind alone is worth the investment.”

ENGINEERS. PROJECT MANAGERS. Trace Consulting Group is a Toronto-based Mechanical and Electrical Consulting Engineering firm specializing in retrofits and tenant improvements for high and low-rise residential, commercial, retirement/long-term care, and retail applications. We’re engineers and project managers. For more, visit www.traceconsultinggroup.com.

NEWSWORTHY >>

Industry Hot Topics GTA rental rates show signs of levelling out

T

he rapidly declining rental rates observed in 2020 and early 2021 appear to be levelling out, according to new data from Bullpen Research & Consulting and TorontoRentals.com.

Overall, average rental rates have decreased by less than 1 per cent in 2021, while last year saw an overall decrease of 16 per cent as a result of the pandemic.

“Canada is a couple of months behind the U.S. in the vaccine rollout, and many American cities are fully open with few restrictions, and offices are opening back up,” said Ben Myers, president of Bullpen Research & Consulting. “Look for continued flatness until the fall in Canada, and rents to start rising more rapidly at that time. The changes to the

Mayfair Properties acquires iconic Vancouver rental tower

M

ayfair Properties has purchased Martello Tower, a 30-storey concrete rental building at the corner of Beach Avenue and Thurlow Street in Vancouver, just steps from the Seawall, Sunset Beach and Stanley Park.

The iconic 220-unit property is one of the largest rental buildings in British Columbia.

In addition to being ideally located on 407 feet of frontage, the property also presents opportunities for infill development.

It was constructed in 1969, and last sold for $28 million in 2003. The units include a mix of one-bedroom and two-bedroom suites averaging between 550 and 828 square feet. In total, Martello Tower comprises approximately 129,600 square feet of space.

32 | Canadian Apartment | Part of the REMI Network |

mortgage stress test and the sharp rise in house prices will encourage more people to continue renting and accelerate the late-year rent increase.”

Of the 30 Toronto neighbourhoods that experienced significant declines, Rosedale-Moore Park is currently the pricest neighbourhood at $2,308 per month, down 14 per cent compared to a year ago.

Meanwhile, South Parkdale, is the city’s least expensive area at $1,669 on average, representing a decline of 20 per cent overall.

In the Yonge and Eglinton area, the average rent is currently $1,838 per month, representing a decline of 13 per cent since April of last year. High Park North had the lowest annual decline at 3 per cent, while Yonge-St. Clair experienced the largest decline at 39 per cent.

Other neighbourhoods with large declines since the COVID-19 outbreak began include: Palmerston-Little Italy and Forest Hill North, both down 31 per cent; GreenwoodCoxwell, Casa Loma and CabbagetownSouth St. James Town, all down 29 per cent; The Beaches, down 28 per cent; East End-Danforth, down 27 per cent; TrinityBellwoods, down 25 per cent and ChurchYonge Corridor, down 23 per cent.

NEWSWORTHY >>

Canderel acquires prime Toronto site for development Ontario sets 2022 rent increase guideline

O C

anderel announced it has purchased the 1.91-acre lot at 490 St. Clair Avenue West, located at the northeast corner of St. Clair Avenue West and Bathurst Street, next to St. Michael’s College School. Building off the momentum of its St.Clair Village, development plans at the new site include three residential towers, retail at-grade, a new public park and a daycare.

490 St. Clair West is a transit-oriented location adjacent to a major Loblaws supermarket and St. Clair West Subway.

With an east-west dedicated streetcar route right outside its door, it is also a gateway intersection to many of Toronto’s prized ravine trails and neighbourhoods, including Forest Hill, Cedarvale, and Wychwood.

Locally run businesses on St. Clair West are also within walking distance.

“The acquisition of 490 St. Clair West is a fantastic opportunity to revitalize a prominent corner that has been vacant for many years,” says Ben Rogowski, COO, Canderel. “We are excited about the potential of this site because we will be able to build a complete community in a part of the city we are already working in and know quite well. With increasing demand for public outdoor spaces and childcare, we look forward to working with the city and agency partners to create amenities that support the evolving needs of this neighbourhood.”

With the site already zoned, Canderel will be working on updated designs for the residential buildings and retail in the coming months. KingSett Canadian Real Estate Income Fund LP will contribute a portion of the debt financing to the project, continuing its long-standing relationship with Canderel.

ntario announced it has set its rent increase guideline for 2022 at 1.2 per cent on the heels of the 2021 rent freeze. This number represents the maximum most landlords can raise their tenants’ rent between January 1 and December 31, 2022, without the approval of the Landlord and Tenant Board (LTB).

The rent increase guideline was determined using the Ontario Consumer Price Index (CPI), which measures inflation calculated monthly by Statistics Canada using data that reflects economic conditions over the past year. The guideline applies to most residential rental accommodations covered by the Residential Tenancies Act, and excludes rental units in buildings occupied for the first time after November 15, 2018, social housing units, long-term care homes and commercial properties.

Rent increases are not automatic or mandatory. Landlords may only raise rent if their tenants were given at least 90 days’ written notice using the correct form. In most cases, the rent increase cannot be more than the rent increase guideline. In addition, at least 12 months must have passed since the first day of the tenancy or the last rent increase.

Last year, Ontario passed legislation to freeze rent at the 2020 level for the vast majority of rented units covered under the Residential Tenancies Act as a way to help give Ontarians financial relief from the challenges of the COVID-19 pandemic. The rent increase freeze will end on December 31, 2021.

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rjc.ca | www.REMInetwork.com | June 2021 | 33

NEWSWORTHY >>

Vancouver affordable housing pilot project underway

A

n affordable rental housing pilot project is underway in Vancouver that will help evaluate innovative building materials and designs aimed at tackling affordability, inclusion and climate change.

The project, called Vienna House, is in the initial design phase. It will be proposed as a six-storey building with approximately 100 units at the intersection of Victoria Drive and Stainsbury Avenue in East Vancouver. The project is a partnership between BC Housing, the City of Vancouver (through the Vancouver Affordable Housing Agency), and More Than a Roof Housing Society.

Vienna House aims to showcase innovative materials and processes designed to deliver high-energy performance with very low greenhouse gas emissions. These include: • prefabricated wall, floor and ceiling components constructed from renewable materials off site; • building information modelling that creates a “digital twin” of the proposed building and • an integrated design process that brings all partners together at regular intervals to collaboratively solve project challenges and maximize opportunities for efficiency.

This building would provide rental homes for a range of households, including lowto moderate-income individuals, families, seniors and those facing accessibility barriers.

The Vancouver Affordable Housing Agency and Vancouver’s Public: Architecture + Communication are creating the initial design concept for Vienna House and moving it through the rezoning process. The application to the City of Vancouver for rezoning is expected to be submitted in summer 2021.

“Given global conditions of the climate emergency and housing crisis, Vienna House offers a brave turn in the right direction,” said John Wall, principal, Public: Architecture + Communication. “Public is honoured to contribute to this collaboration among researchers, policy-makers, design, engineering and construction professionals to address multiple challenges on one site.”

If approved, the pilot project would be built to meet the requirements of the Passive House standard. As a result, future tenants would use very little energy for heating and cooling and, in compliance with the City of Vancouver’s Zero Emissions Building Plan, the building would be designed to minimize climate pollution. If approved, the project would welcome its first tenants in late 2023.

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www.mipropertyportal.com 34 | Canadian Apartment | Part of the REMI Network |

Blending History with Tomorrow’s Needs Jesta Group unveils Place Gare Viger A new one-million-square-foot mixed-use development is coming to Old Montréal from the family-owned developer, Jesta Group.

T

he project will be transformational for the neighbourhood, featuring modern rental housing, vibrant retail, a Hyatt Centric hotel, and state-of-the-art office space with Novartis Pharmaceuticals Canada already on board with a ten-year lease. At the heart of the development will be a 36,000 square foot pedestrian courtyard anchored by the iconic Château Viger.

Jesta Group acquired Gare Viger in 2012 and has been working closely with government authorities, local stakeholders and industry leading specialists to create an architectural landmark that celebrates the rich history of the site and promotes its future as a hub for innovation and creativity.

Place Gare Viger is being built with a focus on health, access to nature and strength of community. From indoor air quality to touchless entries, to abundant vegetation and enhanced amenities for both workfrom-home residents and office tenants, the

project has been designed to deliver on postpandemic needs.

“We are very excited to build the next chapter of our growth in Canada in this progressive mixed-use project at the heart of Old Montréal,” says Christian Macher, President, Novartis, Canada. “This location will position us closer to our partners, potential collaborators of all kinds, as well as new talent in a space that will be conducive to entrepreneurial thinking, inspiring innovation and co-creating solutions-oriented ideas with patients and customers in mind.”

Meanwhile, Jesta Group plans to open Hyatt Centric Montréal, which will be the first of its kind in Canada.

“We are very pleased to announce the first Hyatt Centric hotel in Canada in this iconic development in the heart of Old Montréal,” said Scott Richer, Hyatt’s vice president of development, Canada.

“The Hyatt Centric brand is perfectly

aligned with the forward-thinking vision of Place Gare Viger.”

The hotel will include 177 guest rooms, 4,500 square feet of banquet space, a rooftop pool and bar with unobstructed 360° views and a destination restaurant that will be run by a pillar from the local restaurant industry, the Burgundy Lion Group.

“Our vision at Jesta Group has always been to create a fully integrated urban campus for the future of work, live and play. We are ecstatic that our vision has resonated so strongly with the business community. We look forward to welcoming Novartis, supporting Lightspeed’s continued growth and delivering an exceptional hotel experience with Hyatt at Place Gare Viger,” said Anthony O’Brien, Jesta Group’s Senior Managing Director.

Find out more at www.jesta.com | www.REMInetwork.com | June 2021 | 35

Multi-res Tackles Zero Waste What three buildings accomplished in 2020

by Sayan Sivanesan The amount and type of household waste in Toronto-based multi-residential buildings has changed dramatically over the last year. Due to COVID-19, more deliveries mean more cardboard, packaging, and meals consumed at home.

W

hile the type of waste has changed, this hasn’t necessarily led to an increase in garbage. In fact, a growing number of multi-res high-rises across Toronto have continued to reduce waste in 2020 by improving waste services.

The Zero Waste High-Rise Project, an initiative of non-profit Toronto Environmental Alliance (TEA), in partnership with University of Toronto researchers, has been working with teams of staff, board members and residents in high-rise buildings to reduce waste, create

36 | Canadian Apartment | Part of the REMI Network |

stronger communities and save money.

Here’s a look at three buildings involved in the project and what was accomplished during 2020.

Make Recycling Easier Issue In many buildings, it’s easier to place waste in the garbage than it is to recycle. In the past year, the amount of recyclable cardboard and delivery packaging has multiplied, bringing this problem into the spotlight. For example, at the downtown building 120 Cornwall,

garbage is collected in a waste chute while recycling is collected outside in large bins.

The outdoor bins are difficult to access, especially in winter, and for residents using mobility devices, such as wheelchairs.

Solution Building management decided to add accessibility recycling carts in the building’s lobby and laundry rooms so residents could drop off recycling indoors.

Staff roll the cart outside when it’s full and transfer it into the blue bin. A real time-

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new service. The building officially launched the service in July 2020 and it has been popular with residents.

Facilitate Re-use Issue In the past year, residents did some “spring cleaning” throughout the seasons to make space for working and learning from home, causing unwanted household goods to pile up in the garbage. This includes contaminated recycling and goods that are still functioning.

Solution The green committee at 5 Kenneth, a condo in North York, was inspired by what they saw in another building and created a reuseit shelf for these items. They worked with their superintendent to ensure it wouldn’t get in the way and outlined a plan for

how volunteers would manage the shelf.

Residents leave undamaged items—toys, dishes or housewares—for neighbours to take for free. As a precautionary measure, the building paused the shelf in March 2020, but after reviewing public health advice about the safety of reusables, they relaunched it in September with additional safety reminders and guidelines. The shelf has been popular with residents who are thrilled to have the option to reuse.

These are just a few examples from more than 50 buildings across Toronto where building management and residents have worked together to reduce waste during COVID-19. The Toronto Environmental Alliance’s free online program is open to staff and residents of any multi-unit building, and provides guides, tools and learning events to help condos move towards zero waste.

The Zero Waste High-Rise project is a project of TEA in partnership with U of T researchers, with funding from the Ontario Trillium Foundation and the Social Sciences and Humanities Research Council (SSHRC). Check out the resources and sign up for information at: www.torontoenvironment.org/highrise_join

Building Envelope Repairs

Keep Cooking Oil out of Drains Issue Discarded cooking oil poured down a drain is a major maintenance expense in most buildings.

Over time, oil and grease build-up can result in clogged drains and even flooding. As a preventative measure, a growing number of buildings are collecting used cooking oil for recycling into biodiesel or animal feed.

Roof Assessment & Replacement

Solution Staff at 125 Scadding, a building in the Esplanade neighbourhood, noticed that more residents are now cooking at home and decided to start collecting used cooking oil. A board member worked with management to select a service provider that would provide an oil drum for collection and free pick-up. They put this oil drum in their recycling room and added a shelf of mason jars that residents can use to collect and transport used oil from their units.

Management distributed flyers and information posters to explain and promote the

Balcony Modernization Parking Structure Rehabilitation

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saver, staff now spend fewer hours removing contamination from the large outdoor bins and dealing with clogged chutes.

Window Upgrades Site Improvements Interior Upgrades New Amenities

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ASK THE EXPERT >>

Merging Architecture and Green Energy Shining a light on the benefits of solar While building designs continue to evolve to be architecturally unique and attractive, most new residential developments fall short of the green standard needed to curb climate change and meet Canada’s emissions goals. Here, Danial Hadizadeh, CEO at Mitrex, offers insight into solar energy products and their long-term sustainable benefits.

“F

or the most part in Canada, developers of multi-residential buildings are missing out on the opportunity to curb emissions and become self-sustaining entities, both environmentally and financially,” he says. “As green building materials continue to advance to mimic the look and feel of traditional building materials, adoption will increase, allowing architects to continue to showcase their creativity while creating power-generating hubs.”

Though there’s a long and fascinating history behind photovoltaics (PV), recent advancements in technology have made solar energy far more cost efficient and accessible, with a host of products and benefits that only seem to be growing. According to Hadizadeh, solar cladding, glass and railings are able to turn any building into a self-

38 | Canadian Apartment | Part of the REMI Network |

sustaining power plant while maintaining the look of traditional buildings.

“Solar building-integrated photovoltaic (BIPV) systems such as ours create clean energy, while still matching the aesthetics of man-made materials like cement, porcelain, marble or even wood,” he explains. “This allows architects and designers to maintain creativity and adhere to building designs while also creating a self-sufficient power plant from which building owners can harness surplus power for a profit.”

Hadizadeh also highlights the versatility of solar products, as these can go much further than just residential and industrial buildings.

“Our goal is to transform everything light touches into energy,” he says. “There is great opportunity to implement these systems into wider applications to create greener and healthier cities. BIPV products can help maintain greenhouses throughout the winter, allowing more vegetation to be grown all year long with no carbon cost. Bus shelters, highway sound barriers, and even military applications are all viable candidates for solar technology.”

In conclusion, Hadizadeh says that with these BIPV products becoming more accessible and affordable, Canadian developers no longer have to choose between aesthetics and environmentally conscious materials.

Mitrex is a Canadian manufacturing leader in solar technology offering solar cladding, windows, roofs, and panels. For more information visit www.mitrex.com.

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Now Accepting Bitcoin Cryptocurrency is here to stay

by Andy Schwartze By this point, everybody has heard of bitcoin — which happens to be just one of about 400 different cryptocurrencies. According to Wikipedia, a cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Bitcoin, like other cryptocurrencies, typically does not exist in physical form (like paper money) and is typically not issued by a central authority. But when major players like Elon Musk begin to embrace it, it’s a sign of things to come—and even housing providers should take note.

40 | Canadian Apartment | Part of the REMI Network |

INSURANCE >>

I

n fact, Canadian rental platform liv.rent recently announced that it has added bitcoin as a form of payment, allowing tenants to now pay their rent with cryptocurrency while the landlord receives fiat currency. The Vancouver-based start-up described the move as “a way to bridge the gap between the world of cryptocurrency and the rental industry, which has been typically slower in the adoption of new technologies.”

A whole new world While the present banking system was founded on the need to move things of value through our economy, money was developed as a “medium of exchange” and its supply was centrally controlled. Banks are considered safe places where people can keep their financial assets in private accounts, and if so desired, they can lock their valuables in safety deposit boxes.

Cryptocurrencies entirely eliminate the need for any intermediary “storage” or “hiding place” for our money and things of value. The big concern is that there is no exchange infrastructure to act as a clearing house that processes transactions between individuals and businesses. But given direct transactions simply involve the two parties to the deal, why is this such an important issue?

Talk is now growing that governments may at some point in the future develop their own cryptocurrencies. With a vastly growing number of transactions being conducted with debit cards and with cell phones, the need for hard currency is rapidly fading. What would prevent the federal government from moving in the direction of replacing coins and paper currency with a crypto dollar? Just imagine it: each person would have an account which, instead of holding traditional dollars, would record the ownership of “E-bucks”. Direct transactions between parties would be enabled electronically and our individual accounts would receive deposits from employers, pay rents automatically and otherwise keep money flowing in a fairly normal electronic manner. While cryptos like Bitcoin have a limited availability (so we are told) governments could regulate the supply of crypto dollars by enabling the issuance of more, or less, based on the economic, or even political, needs of the day.

Banks’ reputations have not always been pristine, but basically our financial accounts with them are private and relatively safe. If governments want to access our accounts, with a view to seizing what is in them, there is a process that needs to be followed. This is one that often gives us some warning and allows us to take evasive action, in whatever form that may take. A crypto currency system, however, would result in the creation of an account for each citizen within the federal bank. After all, who then needs branches, other than perhaps for the purpose of loan consulting? This now creates a system where government has direct access to a citizen’s crypto account.

Politically driven support can be directly deposited, fines can immediately be taken out (without due process) and the nature of incoming and outgoing transactions completely monitored nationally. Government would have a clear picture of what its citizens are up to with unrestricted access to those accounts for the purposes of taxation and any other policy decision. The now

“Cryptocurrencies entirely eliminate the need for any intermediary “storage” or “hiding place” for our money and things of value. ”

diminished, but still in place, protection of banks as a transactional clearing system would be gone.

Regrettably, the long arm of technology, as it continues to expand, will continue to challenge our abilities to retain control over our privacy, both personal and financial.

For insurance-related inquires, contact andy@takecover.ca

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| www.REMInetwork.com | June 2021 | 41

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POST-PANDEMIC PROJECTS FOR MULTIFAMILY BUILDINGS Putting electrical and mechanical projects back on the radar

T

he pandemic caused multifamily building teams to narrow their focus on health and safety. As a result, many electrical and mechanical projects fell under the radar. Now that the world is making a slow return to “normal,” it is time to bring critical maintenance and retrofit activities back into the spotlight.

“The last year-and-a-half has been stressful for multifamily teams, and some electrical and mechanical items had to be put on the back-burner due to COVID-19 transmission concerns, budget, or even time,” says Ed Porasz, Vice President with M & E Consulting Engineers. “The good news is we’re heading to a better place, and it’s a good time to revisit key considerations.”

These considerations include: • Makeup Air: Indoor air quality (IAQ) has always been a critical consideration. Now, it’s a top priority. The ability to bring fresh, outside air into a building in a controlled manner reduces the risk of

cross-contamination, maintains optimal comfort levels, and increases efficiencies. As such, a building’s makeup air system should be reviewed by staff and/or a professional engineer to make sure it is working as intended and that ideal pressure levels within suites, hallways, and public areas are being met. At the same time, it is worth looking into how the building can better dehumidify or cool makeup air to future-proof your building against rising temperatures.

• Kitec pipe failures: If your apartment was constructed between 1995-2005, the suites may have Kitec piping. Unfortunately, these pipes have been found to fail after just 10 to 15 years from the initial installation. If you weren’t already replacing these pipes before the pandemic, now is the moment to revisit this issue.

“Kitec failings are a known concern. It’s not a matter of if they will fail, but when,” explains Porasz. “And since it typically takes a number of

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months to prepare design drawings and go to tender start the project, the best time to get started is yesterday.”

• PEX piping risks: PEX pipes were installed on risers and recirculation lines in buildings built between 2005 and the present. PEX has been known to fail, if the velocity of water within the pipes exceeds manufacturer recommendations.

Herein, it pays to have a professional engineer or service contractor come in to review the velocities within your piping system and take measures to extend their lifespan.

• Energy-smart retrofits: It’s always a good time to revisit HVAC upgrades. Today’s high-efficiency boilers and chillers can dramatically reduce CO2 emissions, smaller environmental footprints, and generate significant energy savings. For example, a high-efficiency condensing boiler can create energy savings to recover your initial investment in as little as four to six years, while an oil-less and bearingless chiller can enable a payback of five to eight years.

Building automation systems (BAS) can also contribute to greater efficiency and operational savings. Moreover, they can help with ease of operation and enable faster responses to equipment failures and repairs. Here again, the initial investment can pay off over the long-term.

• EV charging stations: The electric vehicle revolution started well before the pandemic.

Now? It’s shifted into full gear. With eco-friendly attitudes higher than ever, more and more drivers are moving to cleaner, greener, and electric forms of travel. This is a good opportunity to add value to your building by installing EV charging stations for your residents and visitors.

“EV charging stations are going to be table steaks soon, so you want to consider them now rather than later,” says Porasz, adding, “Step one is working with an engineer to determine what infrastructure you’ll require, the best places for installation, and maintenance requirements.”

Catching up on essential projects It’s been a trying time for multifamily teams.

Between keeping owner and staff safe and productive, it’s understandable that electrical and mechanical initiatives fell by the wayside.

Nevertheless, electrical or mechanical projects can’t be put on hold forever. As we move into the post-pandemic, there are benefits to exploring the upgrades, repairs, and maintenance activities that will keep your building operating at its peak for years to come.

E d Po r a s z i s V i c e P r e s i d e n t w i t h M & E Engineering, a professional and multi-disciplined mechanical and electrical engineering firm serving clients in the GTA and across Canada. For more, visit www.me-eng.com.

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RADICAL CODE CHANGES ARE COMING Is your older apartment building ready?

Bringing older residential buildings up to code can be a daunting undertaking, and it’s common for certain key areas to be overlooked.

While window, roof, and wall insulation replacements are accessible upgrades widely carried out, some areas—like airtightness—are becoming more urgent as building codes change at a faster rate than ever.

Driven by local climate and environmental forces, as well as new federal and provincial policies, building codes are a set of rules written as the minimum requirements all structures must conform to in order to meet safety, efficiency, accessibility and other standards.

Presently, these codes are changing, both fundamentally and at a rapid pace, says Sameer Hasham, Project Engineer with RJC Engineers. “The approach has shifted from a prescriptive design approach to a performance-based approach,” he says. “In B.C. for instance, the British Columbia Energy Step Code is now well-established for new buildings, which has been a great success. Overall targets for energy use intensities are becoming well defined with a clear roadmap outlined to meet the Net ZeroReady targets by 2032. Radical code changes, and a shift in how we approach the built environment, will pave the pathway to Canada’s decarbonisation goal.”

By 2050, Hasham points out that Canada’s existing building stock will have significantly aged, and it will account for a considerable portion of emissions from buildings if not addressed in parallel to new construction.

“Governments at all levels have recognized

the importance of tackling the existing building stock,” he says. “As such, a specific code for existing buildings will soon be implemented.

The Pan Canadian Framework has committed to the development of a national model code for existing buildings by 2022, and this will have a profound impact on how we deal with the aging and inefficient building stock.”

INCENTIVES & TAX CREDITS Building upgrades and deep energy retrofits can come with a hefty price tag—a deterrent well-recognized at all government levels. As such, Hasham says part of the new framework will be to encourage improvements by offering incentives, grants, tax credits and other strategies to help offset costs and lessen the burden on the end user.

“Various programs are already well established, and provincial and federal governments are committing funds for climate action,” he says. “We expect these programs to

SPONSORED CONTENT get stronger, particularly as the model code for existing buildings prepares to be rolled out. I would not be surprised to hear funding programs announced in tandem with code changes in the near future.”

IMPROVING AIRTIGHTNESS According to Hasham, one area that is often overlooked in terms of upgrades—and shouldn’t be—is airtightness. “Leaky buildings are inefficient and cost a lot to operate,” he says. “They are a significant source of heat loss, and they also present a risk for moisturerelated issues like condensation build-up within walls.”

Air leaks are typically found around windows, doors, vents, and electrical outlets, which can easily be identified using tools for air leakage testing such as blower doors, thermal imaging and smoke tests—and once detected, they can be easily sealed.

Poorly detailed roof attics is another key area that impacts airtightness. Most owners tend to add insulation into their attic spaces for better thermal comfort as this is a simple and cost-effective solution, however, another option is to remove the older insulation first, which exposes the air barrier transition between the roof and the walls—a very common location of air leakage and heat loss.

When undertaking any roof work, Hasham advises that ducts and penetrations through the attics be sealed, along with sealing / fire caulking the fire separation walls inside attic spaces.

WINDOWS AND ROOFING While windows and roofing replacement projects are common as they can be easily

changed without significantly impacting the use of the building, Hasham does caution around the installment of renovation-style windows.

“Although these are marketed as a cost-effective approach, they tend to rely on sealant and do not transition well with the surrounding envelope,” he says. “These can cause adverse effects in failure of the envelope, and do not effectively manage air leakage or moisture.”

In addition, when replacing your older windows with a thermally efficient upgrade, be sure to remove the surrounding cladding to expose the envelope component. “Good practice is to tie-in the new window assemblies to the envelope, and to maintain continuity of the moisture, vapour, thermal and air control layers,” he says.

THE BENEFITS OF CODE COMPLIANCE Code compliance benefits everyone—from homeowners and building occupants, to our neighbourhoods and cities at large. By making the necessary upgrades to your existing residential building stock, you’ll be achieving the following: • Increased occupant comfort • Better indoor air quality and healthier interior environments • Sound control • Savings in operation costs (i.e. reduced heating bills.)

• More desirable, marketable property • Increased property value It is expected that costs for electricity and gas will continue to increase over time. Add to this government policies, like carbon taxes, and costs over the next 10 to 15 years could continue to soar.

“In Canada, we are extremely fortunate to have access to plenty of natural resources.

However, because of this, it’s easy to take them for granted,” Hasham warns. “We have to recognize that we must adapt to the challenges of the environment—and that means continuing to improve our buildings and keeping up with changing codes. For instance, with the International Energy Agency recommending the phasing out fossil fuel boilers by 2025, building owners anticipate this now.” n For more information, visit www.rjc.ca or contact Sameer Hasham directly at shasham@rjc.ca.

"The Pan Canadian Framework has committed to the development of a national model code for existing buildings by 2022, and this will have a profound impact on how we deal with the aging and inefficient building stock.”

– Sameer Hasham , Project Engineer, RJC Engineers

rjc.ca

Smart Ideas

FULL SPEED AHEAD Ready or not, electric cars are coming

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021 is expected to be a big year for the EV sector as more vehicles with autonomous features enter the market. As supported by recent statistics from Statistics Canada, the adoption of electric vehicles has been gaining traction recently due to a growing investment in charging networks and the availability of more affordable mass-market EVs. At the municipal level, Victoria, B.C. leads the way with 12.9 per cent of Canada’s zero-emission vehicle market share, followed by Vancouver (10.9 per cent); Montreal (7.8 per cent); Quebec City (5.1 per cent); Ottawa (2.6 per cent); and Toronto (2.5 per cent).

And the trend is only picking speed…

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Now is the time to look into how your building will accommodate the need for EV charging stations. Various government incentive programs are now available, offering financial support for those who choose to install them.

At the federal level, Canada’s Zero Emission Vehicle Infrastructure Program (ZEVIP) is a 5-year $280 million program ending in 2024 that was launched to address the lack of charging and refuelling stations, which has been one of the key barriers to ZEV adoption.

For more information on this program, please visit: https:// www.nrcan.gc.ca/energy-efficiency

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