Skip to content
mortgede

mortgede

Estate, you've got it!

Primary Menu
  • Downtown Housing
  • Property And Land
  • Cheapest Housing
  • Elite Housing
  • News Estate
  • Property
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Sell my house fast jacksonville
  • Home
  • An insider view of the crucial process of new development
  • Elite Housing

An insider view of the crucial process of new development

By Minnie V. Muir 1 year ago

[ad_1]

It’s no secret that Canada has an issue with housing supply. Housing stock has remained critically low across the country for years, and what new homes are built have often been purchased soon after reaching the market. Our country is growing rapidly, and experts like the CMHC have indicated we will need to build almost 6 million new homes in the next 10 years to meet our growing needs. 

To the casual observer the problem is easy to solve: just build more homes. For those in the real estate development field, the problem is much more complicated than this.

“There are really several reasons why the supply and demand imbalance has become so persistent,” said Jason Roque, CEO of Equiton. Through his career, Roque has become deeply familiar with what goes on behind the scenes in bringing development to market. Beyond the thousands of residential units that Equiton manages, they are also actively working on new development projects to bring to residents and investors. Like most important work, this task is rarely easy.

“First of all, a lot of locations have just a really limited amount of land available for development,” explained Roque. “This can be limited through things like the greenbelt legislation but also due to difficulties when developers try to rezone or redevelop an existing area within the urban boundary.”

“Another challenge is simply the time it takes to get developments to market and the costs associated with developing property today. We may look at a number of projects that seem good in principle, but upon closer analysis of costs associated with bringing a project to market, the numbers just don’t make sense. So while there oftentimes seems to be a lot of projects that could be done, it’s just that they’re not economical.”

Despite what may seem like a slow process, the development industry wants new homes on the market as much as anyone else. In general, new homes are good for business, good for people, and good for cities. There are many steps that a developer must follow to successfully bring a project to market and, if not managed effectively, can slow things down. The challenge then for these large players is to develop systems that make this process efficient by anticipating and managing any potential roadblocks.

“From the start, it’s about making sure you’re getting involved in projects that you’re very confident can be developed within the timelines and budgets you’ve set,” said Roque, shining a light on Equiton’s approach to new developments.” Once you’ve done that you just have to be very diligent every day making sure that you’re continuously moving that project forward. With experience, you learn what kind of roadblocks and bottlenecks you may experience through the development process, and then it’s about making sure you address those early on so you can get the project done on schedule.”

Equiton’s new developments have primarily focused on higher density projects such as mid and high-rise apartment complexes. Roque emphasizes that while all kinds of development projects are needed today, it is these kinds of projects that represent a best-case scenario for supply and demand factors, as well as project feasibility. Supporters of increased development agree that high-density projects will be crucial to hitting our home development targets in Canada.

“One thing about mid or high-rise versus low-rise communities is that they’re generally more supported by a lot of the municipalities. The nice thing about the mid and high-rise segment is that you’re able to add more density, more homes, in an area that already has existing infrastructure. You’re able to deliver something that improves the quality of the community.”

Looking at Equiton’s own current Sandstones development in Toronto, we can see how these sorts of choices actually come into play over the course of developing a new property. All aspects of supply, demand, approvals, as well as resident lifestyle needs, must fall into place for such a development to be successful. 

“What really attracted us to this project was primarily an excellent location. It’s close to the Scarborough Bluffs and not far from downtown, so it’s one of those locations where the buyers ultimately are going to have access to a great lifestyle within the city of Toronto, but at the same time not necessarily have to worry about the hustle and bustle of being directly downtown. With interest rates and inflation going up today, that lower price point will also drive demand. On the other side of things, it’s a really efficient site, in an area where the city is supportive of the redevelopment so it kind of just checks all the boxes.”

Though our supply issues in Canada may seem frustrating to some, in reality, it presents a great opportunity for a group like Equiton and its investors. It’s clear that until our need for housing supply is met, real estate will continue to be in high demand. The added benefit of new developments is an added level of control that helps developers to extract the most value from their projects. The result is a high-quality product with a great price and great promise.

“I don’t see the supply-demand imbalance going away anytime soon. People talk about it lasting a decade, but in reality, this is a problem that could take a generation to fix. So as an investor, you have a favourable, long-term horizon with respect to these types of things. From an investment perspective, typically development projects are going to be more profitable than buying existing buildings.”

While investing in new developments may not be feasible for individual investors, thanks to groups like Equiton, investors can share in the opportunities that these new projects provide. Visit Equiton to learn more about their upcoming development projects and how you can invest.



[ad_2]

Source link

Tags: C J Real Estate, C&M Real Estate, C&R Real Estate Services, C.F. Real Estate, D Real Estate Appraiser, D Real Estate Daily, D Real Estate Logo, D&B Real Estate, D'Arcy Real Estate, D'Ettorre Real Estate, E Real Estate Agency, E Real Estate Agents Act 2008, E Real Estate Corp, E Real Estate Depot, E Real Estate Depot Mission Tx, E Real Estate Llc, E Real Estate Logo, E Real Estate Meaning, F Real Estate Developer, F Real Estate Logo, F Real Estate Management, F Real Estate Words, F&C Real Estate Investments, F&G Real Estate, H&F Real Estate, M&D Real Estate, Real Estate Data, Real Estate Definition, Real Estate Degree, Real Estate Desoto County Ms, Real Estate Developer, Real Estate Development Consultant, Real Estate Dyer County Tn, Real Estate Dyersburg Tn, Real Estate Etf, Real Estate Exam Prep, Real Estate Exam Questions, Real Estate Express Login, Real Estate Express Reviews, Real Estate Fayette County Tn, Real Estate Florida, Real Estate For Dummies, Real Estate For Sale, Real Estate For Sale Memphis Tn, Real Estate For Sale Near Me, Real Estate For Sale Oxford Ms, Real Estate Forecast 2022, Real Estate Germantown Tn, S&D Real Estate

Continue Reading

Previous Infrastructure sale helps swell Skanska profit | News
Next Whistler’s Best Summer Hangout Spots
October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Sep    

Archives

Recent Posts

  • Road Tax in Malaysia: Navigating the Journey with New Car Insurance and Takaful Motor
  • Real Estate Investing and Property Management in West Chester PA
  • MOVING TO CANADA IS A JOKE…The Economic, Military, and Social Integration of North America
  • Focusing In On Reunion Resort Homes
  • Selling Your House In A Down Economy

BL

Intellifluence Trusted Blogger

Tags

J&B Real Estate J Beard Real Estate J Michael Real Estate J Philip Real Estate J Real Estate Commission J Real Estate Finance Econ J Real Estate Inc J Scott Real Estate K Real Estate Blenheim K Real Estate Group K Real Estate Group Cape Town K Real Estate Llc K Real Estate Logo K Real Estate New Zealand K Real Estate Specialists K Real Estate Utah L&K Real Estate L&M Real Estate L&T Real Estate L'Agence Real Estate L Brooks Real Estate L Catterton Real Estate L Cooper Real Estate L Real Estate Lvmh Real Estate Job Description Real Estate Jobs In Memphis Tn Real Estate Jobs Oxford Ms Real Estate Jonesboro Ar Real Estate Kalispell Mt Real Estate Kauai Real Estate Keller Williams Real Estate Kentucky Real Estate Key Lock Box Real Estate Key West Real Estate Knowledge Real Estate Knoxville Tn Real Estate Lawyer Real Estate Lawyer Near Me Real Estate License Arkansas Real Estate License Memphis Real Estate License Mississippi Real Estate License Nashville Real Estate Market Real Estate Market 2022 Real Estate Mart

getlinko

mortgede.com | Magazine 7 by AF themes.

WhatsApp us