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All the best, The Editorial Team We will keep adding business units that enhance our offering and separate us from our competition. “ ” Editor From The Dear Reader, Welcome to the latest issue of Construction Source Canada, the magazine that highlights the best in building and building products across the country. In this edition, we’ve focused on builders and developers from across Canada – from Red Deer, Alberta, to North York, Ontario, to Montreal, Quebec. The companies we’ve profiled all come from different places and their directors have different perspectives, but they are all powered by similar drives. All seek to do things differently; all seek to meet a local need that is otherwise going unmet; all seek to build a better calibre of product than their market is accustomed to. The Red Deer-based Ross Contracting is a prime example – founder and owner Jeff Ross started his career in construction elsewhere, and brings a perspective to Alberta that’s unique to any other local builder. We spoke to Jeff about his journey, about starting out from the bottom, and about the custom homes and renovations that have elevated him to a local industry leader. Also in this edition is D2S Construction, based out of Montreal. They are a fast-growing company that provides a wide range of building services and never delivers the same project twice. We spoke to founder and co-owner David Riendeau about their growth, what’s powered it, and about how they put their own unique stamp on everything they do. There’s also Tibro Properties, which specializes in the development, construction, and property management of purpose-built rental properties in the Greater Toronto Area. Their company is all about doing things differently – they were founded by brothers Sarit and Savan Chandaria with the goal of providing their region with a better class of rental property. We talked to them about the great need for those properties, how Tibro is meeting that need, and how their commitment tenant rights sets them apart from most competitors. For those stories, and many more like them – about more forwardthinking and boundary-pushing designers, builders, and developers – just keep reading.
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THE CONSTRUCTION SOURCE CANADA With over 90,000 senior executive readers, The Construction Source is proud to offer an attractive platform to share you message with the people that matter most - your customers. Whether your objective is to promote a new condo development, attract financial investment in your upcoming projects, or to build brand recognition, we stand ready to help! To find out more about having your company or latest project feature in The Construction Source, please contact our Group Publisher. Jermaine Poulsen e: info@theconstructionsource.ca The Costruction Source Canada 2201 - 250 Yonge St Toronto, Ontario M5B 2L7 E: info@theconstructionsource.ca Group Publisher Jermaine Poulsen General Manager Alexandra Box Operations Manager Joshua Stewart-Boyd Head of Editorial Content Tamara Breen Scott Carter Production Manager Vicki Lee Editor Zach Janes Graphic Design Pranim Thapa
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Rental living that feels like home
Tibro Properties is an Ontario developer that specializes in the development, construction, and property management of purpose-built rental properties in the Greater Toronto Area. Their goal is to provide rental living that “feels like home,” according to Sarit Chandaria, President. They want to create “powerful tenant experiences,” he says, and to have tenants who are proud to live in their properties for life. They recognize the need and demand for rental dwellings in Canada – and in Ontario, more specifically – and they have made it their mission to meet that demand with attainablypriced units that offer a better standard of rental living than the market typically provides. “The old rental stock developed during the 1960s and 1970s does not offer the quality of living that the renters of today demand and deserve,” Sarit explains. “They lack modern finishes, technologies, amenity spaces, measures for sustainability and are not designed for the future.” In October 2020, the Canadian federal government announced plans to bring in 1.2 million immigrants into the country by 2023. As immigration increases, so does the demand for rental dwellings. “Now is the time is to add to the rental stock to support this demand,” adds Savan Chandaria, Vice President. “Now’s the time to offer new housing that offers an upgraded standard of rental living to a level that every renter deserves to have.” Sarit personally began his career in real estate development about 12 years ago. Originally, he developed mostly luxury FEBRUARY 2023
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townhomes and condo. About five years ago, however, he and Savan came to the realization that there was “a much bigger need” in the market, and he changed his focus to address it. “There are a lot of people that can’t afford to own, but there are not a lot of options available to them – or at least not a lot of good options,” Sarit says. “The discrepancy in the market was huge. If you didn’t own a condo or rent a condo, you had to rent in an old apartment building from the 1950s. We thought that renters deserved better. We thought that there was an opportunity to create some more housing, to create some more rental product, and to build some stuff that was a lot nicer than what was currently available.” “We weren’t getting the fulfillment we wanted building luxury product for people with really large budgets,” he adds. “We thought that there might be a deeper fulfillment in building rental properties and providing quality housing for people who can’t afford to own.” It turned out their thinking was right. Over the past five years, Tibro Properties has developed a series of purpose-built rental buildings in line with Sarit and Savan’s revised vision, and they indeed find themselves more fulfilled. These days, Tibro Properties mainly looks at projects with at least 50 units. They have done some smaller buildings in the past as they were ramping up and testing the waters, but they have found that their “sweet spot” is between 75 and 100 units. Geographically, they are now mainly working in Hamilton and the surrounding areas – that’s a good market, FEBRUARY 2023
Sarit explains, because there are a lot of immigrants and young people looking for onebedrooms, and one-bedrooms comprise the majority of the company’s stock. In addition, land in Hamilton is cheaper than in Toronto – “which allows us to take our time during the development process to get everything right,” Sarit says. “We want to be proud of the buildings we build,” he says. “We want them to look nice. We want them to last. These are assets we plan to hold on longterm.” In order to ensure that longevity, Tibro Properties strives to make their projects as energy-efficient as possible. On their most recently-completed project, for example, they are using geothermal technology to heat and cool the entire building. Tibro Properties also strives for cost efficiency in the design and material selection of their buildings, but without sacrificing quality and aesthetics. When it comes to their design partners, they look for architects, consultants, and engineers who can walk that line – companies who can spec “long-lasting but cost-effective materials” while “still giving us a good look.” “We want to make sure we can build for a reasonable cost, because we want to keep our rents reasonable – not too low, but not too high,” Sarit explains. “We’re trying to hit the middle market. We’re not trying to hit the luxury market or the lowend market.” They also want to make sure they are building products that last, Savan emphasizes: “Our properties need to last THE CONSTRUCTION SOURCE CANADA
for the next 15, 20, 30 years, because we’re keeping these properties,” he says “We’re not building them and flipping them. We’re holding them. We’re responsible for them, and we intend to be responsible for them for the long-term.” “The tenant experience is so important to us,” Sarit adds. “We never want to give tenants a bad experience. Not today and not 20 years down the line.” Fortunately, Tibro Properties has built relationships with some partners who understand and share their vision. Chamberlain Architects is a strong example – they provide both architectural and construction management services under one roof, and Tibro has worked with them on multiple projects to date. According to Savan, the team there “really understands us, they understand what we’re trying to achieve, and they understand construction.” “They know what construction is actually like on the ground,” he elaborates. “Obviously there’s a big difference between putting pen to paper and actually being there on the ground and building things. They understand that. They have a really strong grasp on constructability. They can give us a lot of good guidance.” Tibro Properties has also built some good relationships with contractors – though Sarit admits that the pandemic has created some “interesting times” in that respect. “COVID has really shown us which contractors are our teammates and which ones are not,” he says. “We’ve learned a lot over the last couple years. We’ve learned to be very careful where we put our trust.” FEBRUARY 2023
“Trust is the number one factor,” he adds. “If a contractor commits to being on site and they don’t show up for two months because they have too many jobs go on, that can turn a project over. It can make the feasibility of a project go from feasible to not feasible. So it’s really important that we have trust – that we have trust in terms of the cost, the quality, and the time. Trust is really critical for us.” Again, fortunately, Tibro Properties has been able to form some trusted relationships with some key contracting partners. Most of those trusted partners bring a lot of experience to the table, and Tibro tends to match them to projects where they can best put their specific experience to use. “We focus on finding the right fit,” Savan says. “If we’re building a seven-storey apartment, we’ll look for a contractor with expertise in apartment building or hotel building. If we’re building stacked townhomes, we’ll look for somebody who has a lot of experience with lowrise. That way, they know the specific fire code requirements. They know the right trades to source from. They know what to look out for and where problems might come up.” Over the last couple years, Sarit reiterates that they have learned a lot about working with subcontractors. In particular, he says, they have learned the importance of being clear and transparent. “We are very descriptive and we put a lot of effort into discussing the terms of the contract ahead of time,” he explains. “Everything from payment terms, to deposits, to what qualifies as completed work. We make sure we’re very clear about what we expect, and we tell them to be very clear about what they can deliver. We make sure we’re all on the same page.” “We have learned that clarity is the most important thing when it comes to building a strong relationship.” THE CONSTRUCTION SOURCE CANADA
Tenants for life Currently, Sarit estimates that Tibro Properties has about 200 apartment units under construction. He says their goal is to develop approximately 1,000 units within the next five years and approximately 2,000 units within the next 10 years. He also says they intend to continue managing those units in-house, and that their focus is on “building strong and longlasting relationships with our tenants.” “Our goal is to have tenants for life,” Savan says. “We don’t just want to build buildings; we want to build lasting communities.” “We really believe in tenant rights,” Sarit adds. “That’s why we’re building apartments and not condos. There’s an important distinction. With condos, if the owner of the condo wants to move into a unit or sell the unit, the tenant has no rights. They have to leave after their one year lease. Whereas in an apartment building, somebody can rent a unit and stay there for 20 years as long as they’re paying their rent.” “Unlike many landlords out there, we’re not trying to kick tenants out every time we see a price increase. We’re not trying to gouge tenants. What we’re trying to do is create a very powerful tenant experience. We’re looking to create positive life-lasting relationships with tenants. That’s the type of business we’re trying to build.” “We want to have a business that we can be proud of,” he concludes. “We want to provide quality housing for people. We want people to feel like their unit is their home. That’s our purpose. That’s why we do what we do.” FEBRUARY 2023
THE CONSTRUCTION SOURCE CANADA For more on Tibro Properties, their team, their process, and their past projects – and to get in touch with Sarit and Savan today – visit https://www.tibroproperties.com/
Unparalleled efficiency Ross Contracting is a Red Deer homebuilding company specializing in custom homes and renovations. Whether clients are looking up upgrade their living space, transform their kitchen, develop their basement, or start from scratch with a total home renovation or new build, Ross Contracting has the experience, knowledge, and commitment to quality to bring the client’s vision to life – and bring it to life with unparalleled efficiency, in timetables much shorter than most builders.
And not only does Ross Contracting build quality homes in record time, they also build quality relationships with their customers along the way – “relationships rooted in honesty, integrity, and in ensuring every project is completed on time and on budget,” according to Jeff Ross, founder and owner of the company. Jeff has personally been in the construction industry since he was 16 years old. Over the course of his 25-year-plus career, he’s earned experience in a number of different roles, and he’s been involved in a very long list of successful renovations, residential builds, and commercial builds. In his native province, Jeff had his own renovation company and a well-established reputation for quality and customer service. After arriving in Alberta, he had to start from scratch. Despite the challenges, he recalls it being “a super great experience.” “I started again right from the bottom,” he remembers. “I started as a sub trade. I learned the building code. I loved what I was doing.” About a year-and-half in, Jeff and his wife sold their remaining property in their previous province and used the proceeds to build their own custom home in Red Deer – “a beautiful twostorey walkout,” Jeff describes. The initial goal was to turn that home around quickly, but as soon they finished the oil crash happened, the market suffered, “and I wasn’t willing to just give my house away,” Jeff says. So he pivoted back to doing renovations, and he quickly built up another strong local reputation that persists to this day. FEBRUARY 2023
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These days, Ross Contracting does the occasional new build custom home, and they plan to do more, but their “bread and butter” remains largescale home renovations. Most of those renovations are valued between $200,000 and $500,000. They will also do some smaller jobs once in a while when it’s quiet, or if they are requested by past clients, but the majority of their jobs are “big makeovers.” According to Jeff, the main thing that sets Ross Contracting apart in that niche is their speediness and efficiency – which he says comes from performing the majority of their labour inhouse. “We create a really tight calendar, which we can stick to because we do most of the work ourselves,” he explains. “We don’t have to rely on other people’s schedules. We can be there all the time.” “We can do a $300,000 renovation in three or four months. We can do a $400,000 to $500,000 renovation in less than six months. When we tell people that, they are usually amazed. Some people don’t believe it’s possible. They’ve had big renovations done and it’s taken a year. I tell them ‘If it took a year, that’s because for six months there was nobody at your house.’” Ross Contracting’s team is also multi-disciplined and equipped with a wide array of knowledge, so if for some reason a subcontractor doesn’t show up, they have a crew that can step in and do the work – “so we don’t have to lose a day, a week, or a month,” Jeff explains. That’s a big part of how they stay on schedule. FEBRUARY 2023
All that said, though Ross Contracting strives to do as much work as possible with their own team, they still have relationships with a trusted roster of subcontractors. According to Jeff, those relationships are “very, very strong” and “built on mutual respect.” “When we’re looking for subs, we don’t look for numbers,” he says. “We look for quality and customer service. If they serve me well, if they’re respectful, and if they do a good job, then I’m very happy to turn around and pay them well and pay them quickly. We’ll always send them a cheque within 30 days.” Again, fostering those kinds of relationships – with both subcontractors and in-house team members – is a key part of how Ross Contracting achieves efficiency and meets aggressive timetables. That efficiency, in turn, is one of their major points of difference. It’s not the company’s only point of difference, however. Jeff believes that another thing that sets them apart is the guidance they provide clients, particularly their willingness and readiness to tell clients when they don’t think something is a good idea. “We’ll be respectful about it, but if we think something is a bad idea, we’ll let the client know,” Jeff explains. “We don’t want them to burn money. We don’t want them to spend money where they shouldn’t be spending money. If it doesn’t make sense to me, or if I wouldn’t do it for myself, I’ll talk to them about it. I’ll explain my thinking. Ultimately it’s their decision, but I want to help them make the best decision possible.” “No matter what, we try to guide clients as best we can,” he THE CONSTRUCTION SOURCE CANADA
adds. “We’ll use our knowledge and resources to help with the permitting and the drafting. We’ll do whatever we can to make sure it’s a smooth ride.” The biggest thing they can do, Jeff says, is prepare – and prepare as far ahead of time as possible. That’s what they encourage their clients to do every time. “With COVID, especially, you have to prepare twice as much,” he says. “You need to have everything pre-ordered. You need to pre-purchase everything. You should only start when the material is there, you shouldn’t just trust your provider when they say ‘Oh yeah, it’ll be there in two months.’ When it comes to renovations, so much of the success comes from managing the calendar. You have to be smart about it pre-plan and prepare as much as possible.” Furthermore, there’s Jeff’s experience, and the experience of his team – their cumulative knowledge and expertise is yet one more differentiating factor for Ross Contracting. “I’ve been doing this for the last 25 years,” Jeff says. “I’ve always been on the tools myself. I don’t just say I have the knowledge, I have the knowledge. I know what I’m doing. I know what quality looks like and I know how to deliver it.” “That’s not always the case in this industry, unfortunately,” he adds. “Sometimes the people leading the show don’t know what they are talking about. That’s not the case here.” Jeff also has personally high standards, and he holds his employees to those standards: “My guys know that if I see something that I wouldn’t accept for myself they are going to have to redo it,” Jeff explains. “It doesn’t matter if the customer would accept it. I follow my own personal standard every time. I deliver the same quality whether it’s a $1 million house or $10,000 bathroom. The standard never changes. My guys understand that.” FEBRUARY 2023
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All about the preperation Although Ross Contracting specializes in renovations and remodels, they are interested in doing more new homes in the future. Jeff has personally worked on a lot of luxurious custom homes in the past, and he wants to leverage that experience and ability more in Red Deer moving forward. To prove their capability, Ross Contracting recently completed a $1 million show home in Sylvan Lake. As with their renovations, they delivered that project very quickly relative to other builders – they started in January and finished it a little less than six months later, to the astonishment of a lot of their partners. “Even my insurance company was telling me ‘You can’t just have six months of insurance to build that house,’” Jeff recalls. “I said ‘Yes, I can.’” Again, he credits that speediness and efficiency to their preplanning and preparation. FEBRUARY 2023
“We took the time to design it, to draw everything up, to schedule it, and then we pulled the trigger,” he explains. “It’s all about the preparation. We made sure everything was 100 per cent organized before we moved forward.” “A lot of people will make the mistake of starting a project and intend to wing it as they go,” he adds. “That winging it means the home’s going to take eight months, or 10 months, or 12 months, or more.” Jeff’s goal in designing and building that house was not just to deliver it quickly and efficiently, however – though that ability was something they definitely wanted to prove. He also wanted to create a home with “a lot of character,” like he was used to seeing in his early career, but hadn’t seen too much in Alberta. “Where I came from, homes have a lot of style and character. There are high steeped roofs, there is lot of brick, a lot of concrete, a lot of wood,” Jeff says. “In Alberta, it’s carpet and vinyl and go-go-go. Maybe that’s not the case with really big custom homes, but in the regular market that’s what you see a lot.” Jeff didn’t just want to build a home from a difference province in Alberta, however. He wanted to draw on his experience in both provinces and create something that combined the best of both worlds. “With this show home, I wanted to show that I had different ideas. I’ve seen different things. I wanted to prove I could create a good blend using everything I learned back east and what I learned here. I wanted to take THE CONSTRUCTION SOURCE CANADA
the best of both worlds and put them together. That was my goal.” “I’m confident that we achieved that goal,” he adds, “because once the home hit the market, it was sold less than 48 hours later.” Moving forward, as previously mentioned, Jeff hopes to get the chance to do some more new homes of that scale – but at the same time, he doesn’t intend to leave the renovation market behind any time soon. His vision is for the company to keep doing what they are doing, just on a slightly larger scale, depending on if they can find the right team members to grow with. “I’ve been bigger in the past and I’ve ended up scaling back,” he explains. “I’m open to growing more again, but it has to be with the right people. I want to grow, but not if it means compromising on quality control. I’ve seen a lot of companies grow too big too fast and lose control. I’m not willing to do that.” “I’m a believer,” he adds, “and I’m doing this to honour my God first. At the end of the day, I have to be able to put my head on my pillow and feel good about what I did that day. That’s non-negotiable. I have to stay true to my values.” FEBRUARY 2023
THE CONSTRUCTION SOURCE CANADA For more on Ross Contracting, their range of services, examples of past projects, and to hear from past clients – and to get in touch with Jeff and his team today – visit https://www.rosscontracting.ca/
Creating incredible spaces D2S Construction is a Montreal-based construction business that provides a range of project management, commercial, and residential building services. Since forming over 13 years ago, the company has delivered a variety of projects for a long list of satisfied customers. They now use their experience and expertise to walk clients through the design, construction, and creation of their ideal spaces.
“We work with our clientele through every step of their custom projects,” says David Riendeau, co-owner, “and we expect nothing less than to deliver an incredible space they can be happy with and we can be proud of.” “Clients can rely on our expertise for all your engineering, plan drafting, project management, renovation and construction needs. We can handle any project, from kitchen and bathroom renovations to home additions and office construction. Our goal every time is to turn our client’s dreams into realities.” The company was officially formed in 2009 by his two brothers while Scott was doing his MBA at McGill and Shawn was finishing business school at John Molson, where they ran and sold a company before starting full time construction. David joined Scott and Shawn soon after – thus the company name, D2S Construction. David personally has a background in sales and finance, while his brothers have backgrounds in engineering and contracting. Initially, David and his brothers worked other jobs while operating D2S as a smaller building company on the side. Due to word of mouth, however, the company grew quickly and the brothers realized that they had something worth investing in. “People were constantly asking us ‘Do you guys do this? Do you guys do that?’ There was a lot of interest,” David recalls. “At a certain point, we realized that we couldn’t grow this thing properly if we all had other jobs. So about 10 years ago we all quit our other jobs and we started going full throttle.” FEBRUARY 2023
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From that point on, D2S Construction has continued to grow slowly and steadily, getting into progressively larger projects as the years have gone on. The company now has roughly 15 employees, but that number fluctuates based on the size and number of jobs they are operating. They concurrently manage several jobs at any one time, and they take on projects throughout Greater Montreal ranging in value from $200,000 to $2 million. According to David, within that wide range, D2S is set apart by “the level of attention we give to our clients.” He also believes their level of transparency when it comes to pricing goes a long way: “We give very, very detailed estimates right from the beginning,” he explains. “We give very detailed budgets.” “The more old-school method is to just walk in, ballpark it, and say ‘We can get it done.’ That’s not what we do. That doesn’t give the clients a lot of room to plan their finances. And our clients tend to be pretty savvy about that sort of thing. They want to have that room to plan, and we make sure we give them that room by being transparent and up-front.” D2S Construction also acts transparently throughout the other stages of the project as well. Their full-serving project management offering includes budget updates and projections every step of the way. “We’re very open with clients,” David says. “If something changes – if something is going to cost a bit more because of things beyond our control – then we relay that message. We explain it to them. And we FEBRUARY 2023
explain it right away, that way the client can plan ahead; they can potentially make different decisions. We don’t avoid the difficult conversations, because we don’t want the client to be surprised down the line. We want our clients to trust us, and I think clients trust you when you’re open with them. Transparency is so important. Transparency is how you build good relationships.” At every step, the company and their team also acts professionally, which David believes is very important. “We hire very professional staff and very professional trades,” he says. “They represent us very well. They dress well. They’re polite. They keep a clean site. We think that all of that matters. It makes a big difference to the client experience.” Another big difference maker is the fact that D2S has engineering capabilities inhouse, as one of the founding brothers is an engineer. “From an engineering perspective, we can help the client develop their plans inhouse,” David explains. “With most building companies, the client would have to go to an outside firm. With us, we can do it all in-house and usually we do can do it for a cheaper rate than the client would get if they had to hire someone else.” Then there’s the quality of the company’s work – David believes that’s perhaps D2S’ most significant point of difference. “We deliver a really high-end product,” he says. “That’s reflected in the feedback we get. I’m sure everyone says their jobs are really great, but it’s our THE CONSTRUCTION SOURCE CANADA
clients that say that. That’s the reputation we’ve built. That’s the brand we have.” “All the other stuff is important,” he adds, “but quality is the most important. If you don’t finish on a high note and deliver a good product, then the rest doesn’t really mean anything.” Achieving that high level of quality, David explains, involves “hiring the right people to begin with” and then when the job is ongoing, “constantly checking in.” “As owners of the business, we’re always there representing the client,” he says. “Either myself or one of my brothers is around all the time. We make sure we understand what the client wants and then we relay that to everyone on site. We’re there to make sure everything is done properly, and if it’s not done properly it’s up to us to make sure it’s corrected.” “That doesn’t mean micromanaging,” he clarifies. “We don’t need to do that because, again, we hire the right crew members, the right project managers, the right subcontractors. We hire people we trust and can rely on.” Many of D2S’ relationships with crew members and subcontractors go back over a decade. According to David, they have been working with some of the same people since the very early days of the company. “We use a lot of the same subcontractors because we can trust that they will do a good job,” he says. “The drywall guys, the plaster guys, the electricians, the plumbers, the painters – we’ve been working with a lot of these guys since the beginning. Those relationships are extremely important. We rely on them, not just for quality but also for timelines.” “The same goes for our suppliers,” he adds. “We’ve been able to partner with suppliers we can trust, who can get us our stuff on time for good prices. We value those relationships really highly. We know that our suppliers and subcontractors are really at the core of us being able to deliver a good product.” FEBRUARY 2023
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Unique and interesting Over the years, D2S Construction has done a wide variety of projects – “all of them unique in their own way,” David says, which makes it difficult to highlight any one in particular. “We’ve never done the same project twice,” he explains. “Everything we’ve done is different. We’re always doing something unique, which keeps things interesting and keeps us on our toes.” Moving forward, David and his brothers also want to continue doing unique and interesting projects as the company grows – and they do want to keep growing, but always in an organic and controlled manner. “We’re looking to grow, but we don’t want to grow too fast and take on too much and have the quality suffer,” David says. “We’ve been growing at a rate of about 30 per cent per year, which is pretty good. We see FEBRUARY 2023
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that continuing.” As part of that growth, David, Scott and Shawn also see the company diversifying. They want to stay in the renovation market – “because we’re good at it, and because there’s a strong demand to revive many old properties in and around the city of Montreal,” David says – but they also want to do some larger-scale projects, including some multi-family developments of their own. “Our ultimate goal is to do some bigger projects and put our own stamp on them,” David concludes. “We enjoy working with clients, and we’re really proud of everything we’ve done with clients, but we also want to be able to do some projects the way we want to do them. We want to be able to say ‘This is us – it was financed by us, designed by us, built by us, owned by us.’ That’s what we’re heading towards.” FEBRUARY 2023
THE CONSTRUCTION SOURCE CANADA For more on D2S Construction, their services and capabilities, their past project, and to get in touch with David and his team, visit https://www.d2sconstruction.com/
A modern approach to development
Millennial Developments is a Kelowna-based developer that takes a modern approach to the creation and marketing of multi-family developments. Using an innovative strategy based on data analytics, they are able to identify emerging markets based on value, livability, economy, and they are able to design homes that capture buyer interest. With this strategy, they are able to offer investors superior risk-adjusted returns and defined exit strategies, while at the same time delivering development projects that enhance their communities and provide premium value for residents.
“With every development, we not only measure the benefit to investors, but the benefit to community and residents of our projects,” says Ryan Tamblyn, founder and CEO. “Using cost-effective construction techniques and durable, quality building materials, every Millennial Development project is built to last, to enhance the local area, and foster pride of ownership for British Columbia homeowners.” Ryan was born and raised in the Okanagan, within the Kelowna area, and he has been involved in the local construction industry for over 20 years. He started off as a carpenter before going back to school for project management and data analytics. After returning to the workforce, he served in management positions with several other developers before eventually striking out on his own and founding Millennial Developments in 2016. “I started Millennial Developments specifically with the goal of modernizing real estate development by utilizing data analytics to inform decision making,” he recalls. “I really saw a gap in the market. I saw an opportunity to outperform the market by combining my skillsets in both construction management and data analytics.” Using those dual skillsets, Ryan believed he could optimally determine what neighborhoods to develop in and what the best housing type and unit mix was for that neighborhood. That founding belief has been proven correct. Over the past six years, Ryan says the company has done “exceedingly well” across four different projects. The company’s first project was FEBRUARY 2023
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called ‘Camber Heights,’ and was located in West Kelowna. It comprised 30 luxury townhouses situated atop West Kelowna’s Shannon Lake Community. Each townhome featured premium appointed finishes and spectacular panoramic Okanagan views. It was fully delivered in 2018. Today, Millennial Developments has two projects currently under construction – one called ‘Five Crossings,’ located in Kelowna’s Landmark-Capri District, the other called ‘The Nest at Findlay,’ located in the city’s revitalized Rutland district. Five Crossings is a 207-unit community of studio, one and two-bedroom smart suites located in the heart of Kelowna. According to Ryan, Five Crossings “offers everything you need and nothing you don’t,” with space-efficient homes that “focus on what’s important without distraction, allowing you to simplify your life without compromising on lifestyle.” He describes the architectural design as “clever” and “flexible,” featuring interiors that can transform to meet the needs of the tenant. He also boasts about the amenities – there’s a gym, a rooftop patio, a private barbecue area, and a communal lounge, among many other communal spaces. Five Crossings was “hugely successful,” Ryan says. They launched sales in May, selling out over the course of a weekend. The Nest at Findlay, meanwhile, includes 20 townhomes, centrally located and close to Rutland amenities, while at the same time is “nestled next to green spaces and marshlands.” The townhomes are all threeFEBRUARY 2023
The townhomes are all threestoreys and all feature spacious three-bedroom layouts, ample storage, backyards, and private 2 car garages. Ryan describes the development as “offering the feeling of single-family home living but with convenient ease of ownership,” allowing buyers “to put down roots” and “make it their own.” Looking forward, Millennial Developments also has another project upcoming that will be a 300-plus unit condo development in downtown Kelowna, in the same Landmark-Capri district as Five Crossings. In between projects, Ryan and his team have also done some general contracting and construction management for other developers under the banner of ‘Focus Kelowna Homes.’ That same brand has also done all the building for Millennial Developments (and moving forward they intend to focus on Millennial projects fulltime.) That vertical integration and in-house control of the construction process has proven to be very beneficial. According to Ryan, that’s one of the key-ways they ensure quality – and that quality represents one of Millennial Developments’ main points of difference. An even more significant point of difference for Millennial Developments is their reliance on data to inform their decision making. Again, Ryan explains that data allows the company to produce “the proper home types in the proper neighborhoods.” THE CONSTRUCTION SOURCE CANADA
Then there’s the company’s focus on affordability – that’s another important differentiator, Ryan adds. He says they are trying “to lower the barrier of entry for first time home buyers.” They did that particularly successfully with Five Crossings, where most of the buyers were 20-to-34 years old. Finally, Millennial Developments’ embrace of technology sets them apart. For example, they partnered with a number of different technology providers to create what they consider to be “the first truly smart community of its kind in Western Canada,” which is Five Crossings. That’s why the subtitle of that project is “Smart Suites at Landmark.” “The reason we call them smart suites is because of the technology that we’ve integrated into the development,” Ryan says. “An example of that is we have an intercom system that uses facial recognition to allow touchless entry into the building. Another example is our garage doors – they all feature automated RFID readers, which again allows for touchless entry.” There’s also the intercom system, which has a lot of innovative and modern functions. For example, it enables residents to text smart keys to your guests with time limits that they can use to scan into the building. It will also scan parcels from major delivery companies, ensuring both security and convenience. “So, a delivery driver can come up to the building and scan the parcel – and the system will FEBRUARY 2023
only recognize parcels that are out for delivery, and they will only recognize them one time,” Ryan explains. “The courier will get scanned into the building, he’ll go to a bank of lockers with different sizes, he’ll type in the information about the size of the parcel and who it’s going to, and a door will automatically pop open. The courier will insert the parcel into that locker, he’ll close the locker, and as soon as that locker is closed it will automatically inform the tenant that they have a parcel waiting for them. That tenant will bring their smartphone down, they will scan the barcode that they have been sent, and that same door will automatically pop open.” “Essentially everything in the entire building is controlled by an app on your smartphone,” he adds. “You can use it to book amenity spaces. We have smart thermostats, door locks, and appliances. It can all be controlled by your phone.” Ryan credits the “overwhelming interest” that Five Crossings received, with more buyers submitting selection forms then available homes, partly to that technology offering. More generally, however, he credits Millennial Development’s unique approach to development. “We understood what the market needed in that specific location,” he says. “We knew who our buyers were. We knew it was the 20-to-34-yearold demographic we were going for. We designed the entire building – including the technology and the amenities spaces – to accommodate what those buyers were looking for. We knew who were building for and we knew what to build for them, and I think that just created a huge buzz and a lot of excitement.” Currently, Five Crossings is under construction. They will be welcoming their first owners in the spring of 2024. The Nest at Findlay is also currently under construction. Millennial Developments aim to welcome their first owners in the coming spring of 2023. With that project, the company again had a very clear idea of the kind of buyers they were targeting. In that case, they wanted to provide an affordable option for young families. They wanted to create a product in the “missing middle” of the housing market, somewhere between an expensive singlefamily home and a unit in a tall, generic tower. “We wanted to create something that was affordable and attainable for young families,” he says. “We wanted to give them a chance to get in the market.” THE CONSTRUCTION SOURCE CANADA
A clear vision Moving forward, Millennial Developments’ vision is “to be the most sought-after real estate development company for investors and real estate buyers in Western Canada.” When it comes to buyers, there’s a long list of factors that sets Millennial Developments and their product apart – see above. For investors, meanwhile, the list is also extensive: “What we’ve been able to do for our investors is provide confidence in their investment,” Ryan explains. “We’ve done that by applying sound decision making in order to achieve success in all of our projects.” With investors, Ryan adds that they always “put transparency first.” Their investment structure is based on real estate trust units, and prior to investing in trust units, potential investors will be provided an Offering Memorandum for their review – a full package which outlines a particular project including property photos, budgets, sales comparables, market feasibility Your Vision. Our Passion. We are a driven team of creative professionals and devoted experts who strive to consistently deliver exceptional projects. Empowered by bold and iconic designs, we take pride in every step of our work, from the initial idea sketches to completion. Contact LIME Architecture today and experience our passion for collaborative design that will capture your vision through inspirational architecture. 250-448-7801 #205-1626 Richter St., Kelowna, BC V1Y 2M3 www.limearchitecture.com FEBRUARY 2023
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studies, project timelines and milestones, MLS listings (if available), and a disposition strategy based on current market activity. “We treat our investors’ money like our own money,” Ryan says. “Because of that we’ve been able to develop some ongoing long-term relationships.” Currently, Millennial Developments’ main investment focus is the Collinson Rise Development Project, which will support their upcoming 300-plus unit development. Due to the response Five Crossings received, they are a confident that there’s a demand for what they can build. They are looking to meet that demand with the Collinson Rise investment opportunity, which will not only allow more Canadians the ability to invest in real estate, but also provide much-needed affordable quality housing in Kelowna. At the same time, the company is also looking to do something a little different with Collinson Rise. Ryan describes that development as a “type of master-planned community,” as it will feature a diverse mix of unit types, including smaller suites like at Five Crossings, one-bedroom, two-bedroom, and three-bedroom units as well as some townhomes. Looking even further into the future, Ryan says that Millennial Developments will continue to create innovate communities, like their new approach to master planned communities, like their new approach to master planned communities and technology enhanced buildings like Five Crossings. They will also continue to expand and look at projects beyond Kelowna. No matter how large the company grows, however, and no matter how far they extend their reach, Ryan also says that some things will remain consistent. He reiterates that the company was founded with a clear vision, and they never want to stray from that vision. FEBRUARY 2023
THE CONSTRUCTION SOURCE CANADA For more on Millennial Developments, their team, their process, and their past and present projects – and to receive their monthly update, which provides all the latest news on their company and the local real estate market – visit https://millennialdevelopments.ca/
An exciting time
Platinum Signature Homes is an Edmonton-based builder of acclaimed custom homes, the kind designed-and-built to reflect the client’s individual vision, lifestyle and design aesthetic. Over the years they have built an industry reputation for the quality of both their homes and their customer service. Over the last few years, they have bolstered that reputation by delivering a series of acclaimed and award-winning show homes and homes for clients.
“There have been a lot of positives over the last couple of years,” says Sunny Sahni, the company’s founder and president. “We’ve grown as a company. We’re building more homes. We’re getting a lot of recognition. It’s an exciting time.” Sunny has personally been building homes since 2004. Over the years, he’s progressed from building production homes to slightly bigger custom homes to custom luxury estate homes, which is what the company is known for today. That progression has been abetted by a series of awards and other industry nods. For example, Platinum Signature Homes is now a ‘Holmes Approved Builder,’ as recognized by Mike Holmes from TV’s ‘Holmes on Homes.’ At the 2022 BILD Alberta Awards, the company also recently won the ‘Single Family Home $600,000 to $800,000’ category for a home they built last year in the Creekwood Collections at Chappelle. “That means a lot,” Sunny says of the industry recognition. “It’s always nice to be recognized by your peers. It’s nice to know that they appreciate what you do. It makes us feel like we’re doing something right.” That most recent awardwinning home was originally intended to be a show home. With it, Sunny wanted to create a smaller home than he normally does, as the market was unstable at the time and he wanted to a display that showed he could cater to smaller budgets as well. “I wanted to show that you don’t have to build an estate home and spend millions of dollars to get quality,” he says. “If you FEBRUARY 2023
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use the right elements and products in a smaller home, and you can still get something that looks and feels amazing. The products don’t even need to be expensive. They just need to be the right products and the home has to have the right energy and flow.” Initially, the idea was to use that show home to generate sales for other lots in the nearby area. By the time the home was ready, however, most of the lots in the area had already been sold – by Sunny, in fact, who is also a realtor. “So there was no point opening it as a show home,” he says. “It was designed for us to get some orders for smaller homes in that area. But then we didn’t have any lots left in that area! So we ended up selling it.” After they made the call to sell it, that home ended up selling “very, very, very fast.” As soon as they put it on the market, Sunny says, they had offers “coming in left right and center.” He credits that interest to the “functionality and details” of the home. “It didn’t have a lot of details, but the details were in the right place,” he says. “It was also a great location. There was a walkout basement backing up onto a pond. It was a beautiful site.” Sunny also credits that commercial response – as well as the industry awards – to the high quality of workmanship displayed in the home. In turn, he credits that workmanship to the hard work and dedication of the company’s trade partners. Many of those partners have been working with Platinum Signature Homes for over eight years now, and Sunny says they FEBRUARY 2023
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