|Chris Emanuel speaks about the demand for Rental Construction in GTA & Ontario||“The 10 myths & realities about New Apartment Construction & Student Housing in Canada”|
We are here from land acquisition to final disposition and all the steps in between. From beginning to end and at every stage in the process shown above, we have over a quarter century of experience, building relationships with all of the industry professionals you need.
At ROCK, we believe that new apartment construction represents the best real estate development opportunity across Canada. Interest rates are at an all-time low. Institutional and long-term investors are looking for investment-grade apartments, which are in short supply across the country. Historically, apartments have not had the volatility of real estate investments and apartments are the only class that is not tied to the financial/economic cycle.
And yet, when compared to America, new apartment construction in Canada is in its infancy. We estimate there are fifty merchant apartment builders in the United States and less than a handful in Canada. If you have the building skills, or the land, you should be asking yourself what you are waiting for. Investors are running out of good apartments to buy and upgrade.
Canada, It’s Time to Build New Apartments!
We estimate that there have been about 400 new buildings from coast to coast to coast, ranging from concrete high-rises in Vancouver to frame walk-ups in Iqaluit to a surprising number of mid-rises in Atlantic Canada. We were excited to see London, Ontario and Halifax, Nova Scotia as the nation’s leaders in new apartment construction. In contrast, there has been very little new construction in Canada’s major cities, Toronto, Montreal and Vancouver.
At ROCK, we are committed to providing our clients a full complement of services to facilitate new apartment construction. This includes identifying markets to build in, finding land to build on, researching what is feasible, locating joint venture partners, navigating financing, and assisting with the lease-up and disposition.We feel that there is pent-up demand from investors and renters. That, combined with Canada’s favourable economy, a strong CMHC lending program and historically low vacancy rates, all point to development opportunities across the nation.
We hope you find this report useful and our investment professionals at ROCK look forward to assisting you in meeting your goals.
Looking to build? We can help you decide!
1.Should you build?
2.What should you build?
3.How much can you charge? (rents)
4.What is the depth-of-market?