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
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