on the larger side they are now embarking on a project that will house almost 370 units over 10 acres. “Our projects span from good opportunities – which is what a 39-townhome project is – to what our strategy ultimately is, which is ‘Get dense, get big, and get very efficient from an operational standpoint,’” Jordan says. “At the same time, we know that 370 units isn’t as dense as most developers will get on a site that size,” he adds. “That’s part of our strategy. That’s because we’re a build-and-hold company. We buy the land, we develop the land, we construct the building, and then we hand the building off to our property management division to manage in-house.” As a result of that integration, Jordan explains, Forthright Ventures is very much attuned to the needs and wants of the future residents of their buildings. In particular, they understand the importance of parking. They know how critical parking is to sustaining low vacancy rates. “We’re very, very focused on the long-term efficiency of the operation,” he says. “As a consequence of that, we intentionally dial back the density of our sites to ensure the appropriate parking ratios to ensure that vacancy is never a problem. We could be as dense as 60-units-an-acre if we really wanted to be, but we’re more comfortable being around 42, because we know that’s where you’re able to achieve the least vacancy by providing the right parking.” THE CONSTRUCTION SOURCE CANADA
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