Learn what an egress window is in Canadian real estate, when it’s required, what size it must be, and how it affects basement renovations and legal suites.
An egress window is a window that meets building code requirements for emergency escape and rescue, typically required in basement bedrooms or below-grade living spaces.
Why Egress Windows Matter in Real Estate
In Canadian residential construction, egress windows ensure occupant safety by providing a secondary exit in the event of a fire or emergency.
To be code-compliant, an egress window must:
Have a minimum unobstructed opening (e.g., 0.35 m²)
Be easily openable from the inside without tools
Have a sill height within allowable limits
Provide direct access to the exterior or a legal window well
Egress windows are especially important in finished basements used as bedrooms or rental suites, and may be required to pass inspection or qualify for permits.
Understanding egress window standards is essential for renovators, landlords, and homeowners converting basement spaces.
Example of an Egress Window in Action
To meet code and legally list the basement bedroom, the homeowner installs an egress window with proper clearance and window well.
Net operating income (NOI) is the total income generated by a property after operating expenses are deducted but before taxes and financing costs.. more
Toronto real estate agent Shane Little says he’s having to have “frank conversations” with his seller clients — homeowners who have a vivid recollection of what he calls the “FOMO” market that characterized the pandemic year, and the two or so years following.
It wasn’t all that long ago, and the chaotic conditions are imprinted on many peoples’ minds: 2020 brought on the global pandemic, leading the Bank of Canada to cut the policy interest rate from 1.75% to 0.25% by March 2020, putting into motion a frantic period of buying and selling — a turn of events that is unlikely to repeat itself anytime soon. In March 2022, the central bank reversed course, and kicked off what would be the first of 10 interest rate hikes in a row. Rates aside, the uncertainty surrounding tariffs has rendered the market more or less stunted, and unable to rebound in any material way as market stakeholders had once hoped.
“We've told some people, if they don't absolutely need to transact right now, it might not be the best time,” says Little, who works alongside Jenny Simon with buyers and sellers in East Toronto. “We are going into this eyes wide open, and having those hard conversations very early in the process. Our job is to get the most out of what the market will bear, but the people we're working with right now have a real need to move.”
The fact of the matter is that the average Greater Toronto Area (GTA) home price — at $1,022,143 — is now down over 23% from the February 2022 peak of $1,334,544, according to Toronto Regional Real Estate Board (TRREB) data released last week. Month over month and year over year, prices came down almost 3% and over 5%, respectively, in August.
On top of that, the GTA is by and large in “underbidding territory,” according to recent data from Wahi. The real estate proptech company revealed last week that 98% of neighbourhoods across the region with at least five home sales in August saw the bulk of those properties sold for under-asking, with Eastlake, York Mills, Rural Vaughan, Vales of Humber, and Forest Hill leading the charge. Conversely, the only neighbourhoods where the median sold price exceeded the median list price, according to Wahi, were Milton, Markham, Princess Rosethorn, and Brock Ridge.
In other words, it’s time for GTA property owners to accept something of a blanket truth about today’s market: The price you want to get for your home is unlikely to be the price you do get for your home. Home pricing is cyclical, and the most recent decades-long upswing ultimately doesn't change that.
This is a reality that many sellers are still coming to terms with.
“The people I'm finding are that are having the most resistance are either the people that bought during [the 2020-2021 frenzy] and are now hoping to recover their costs. And then also the people who wanted to sell at that time, but decided to hold off because they thought prices would get better,” says Anya Ettinger, an agent with Bosley Real Estate.
“I also can't place 100% of the blame on sellers, because I think that there are some agents that are not educating the sellers on accurate expectations,” Ettinger adds. “There’s kind of a trend of, call it, ‘buying the listing,’ where agents will tell sellers an unrealistic price just to get the listing. And so if they think a house is worth 1.1 million, and they know the seller wants 1.2 million, then they’ll tell them it's worth 1.2 million, so that they'll hire them. And then it sits on the market for months and ends up inevitably selling for 1.1 million.”
If there’s one thing to takeaway from the market’s status quo that agents like Little and Ettinger are reckoning with it's: how you price your home matters more than ever. Buyers have options, and that means the market, for sellers, is particularly unforgiving.
“Unless it's someone you've worked with in the past and know you can trust or was a direct referral from someone you know and you have some sort of trust with them… I would say it's helpful to always meet with a couple of agents,” Ettinger says. “If you see one person and only one person gives you a price, it's very easy to get excited by that. But if you see two, three who are saying 1.1 [million] and then one agent is saying 1.2 [million], then it kind of makes you wonder if that person is really giving you the honest truth.”
“Another thing is having the agent physically tour your property,” she adds. ”I can't tell you what your property's worth if I've never stepped foot in it, I can tell you what a similar property could sell for in a large range depending on conditions of the house. I had someone reach out to me recently — and he said that he had reached out to several agents, and none of them wanted to actually physically see the house. They just wanted to give him a price and get the listing. They didn't want to take the time to tour the house. That, to me, is a red flag.”
Across all cases, Little expresses that pricing your home to sell is “a bit of an art and science” — and a crucial one at that.
“One of my favourite metrics to look at is median price in that specific neighbourhood for that specific home type. […] Like, what are detached homes doing in the Beach; what are the semi-detached homes doing in Leslieville; what are row homes doing in Riverside?” he says.
“In combination with the absorption rate, and understanding... [your] specific home type — because it does vary, and that was unique early in this year because you had detached homes in the Beach that were buyers’ market, semi-detached homes were in a sellers’ market, and condos were in a buyers’ market — you have to be granular. You have to be hyper local.”
Little also points to a recently successful sale of theirs at 87 Berkshire Avenue. “There was a four- to six- week period, in the beginning of the year, where every semi in Leslieville was pricing at $1.199 million and was selling for around $1.4 million — just over and over again. And so our buyers were... getting disenfranchised a bit,” he says. “So with Berkshire, we purposely priced it under that, at $1.149 million, to try and get some more excitement, we ended up actually selling for $1.435 million.”
On Wednesday, the City of Brampton announced it is reducing development charges (DCs) by up to 100% on purpose-built rental units in order to encourage their construction and "address the city’s growing housing needs."
DCs are taxes that builders pay to a city in order to help fund increased infrastructure needs that may be required as a result of growth, including services like roads, transit, water, and sewer systems. But over the last 15 years, DCs across the GTA have skyrocketed, placing additional strain on already struggling development pipelines.
“Brampton is taking a bold step to address one of the biggest challenges facing our residents: the shortage of safe and affordable rental housing," said Mayor of Brampton, Patrick Brown, in a press release. "This new incentive program will attract investment, support family-friendly rentals and help us build the strong, vibrant communities our residents deserve.”
As of August 1, the municipal DC for a large apartment (over 750 sq. ft) in Brampton is $38,395 and $23,628 for a small apartment (less than 750 sq. ft). But on top of that, builders pay a DC to the Region of Peel, to GO Transit, and to the region's education boards, totalling $100,659 in DCs for a large apartment and $59,084 for a small apartment. In 2018, Brampton developers would have been charged just $54,197 and $36,738 in DCs for these unit sizes, respectively.
Brampton's new Development Charges (DC) Incentive Program reduces the financial burden on builders by lowering municipal DCs based on unit size, effective immediately until November 14, 2026. Under the new program, reductions would be tiered, with one-bedroom units seeing a 50% discount, a 75% discount for one-bedroom+den and two-bedroom units, and a 100% discount for both three-bedrooms and two+bedroom units with mixed use.
Additionally, in June, Peel Region passed their own DC reforms, reducing regional residential development charges by 50% from July 10, 2025 to November 13, 2026, further reducing costs for Brampton developers.
Brampton's announcement follows a handful of other GTHA municipalities that have taken action to lower DCs in some capacity. Last May, Burlington lowered their DCs by $1,500, Vaughan returned their DCs to September 2018 levels in November, Mississauga reduced all residential DCs by 50% and by 100% for three-bedroom units in purpose-built rentals in January of this year, and Hamilton lowered all residential DCs by 20% in August.
In addition to the DC reductions, Brampton City Council passed a motion Wednesday asking the Province to reconsider its "one-size-fits-all" Additional Residential Units (ARU) legislation. An ARU could be any additional dwelling on an existing residential property, such as a basement apartment or garden suite. According to the press release, the legislation has allowed more than 26,000 registered ARUs in Brampton, which makes up more 60% of all new residential units in 2025. The City is asking that the Province allow Brampton to pause new ARUs in concentrated areas, "so the City can address property standards and safety issues, while incentivizing better, safer alternatives through purpose-built rentals."
Rennie is launching a new commercial real estate brokerage called rennie Commercial. / Rennie
On Wednesday, Vancouver-based real estate services firm rennie announced that it was launching a new commercial real estate brokerage called rennie Commercial, its latest effort to diversify its offerings and expand its horizons.
"This new division represents a natural extension of the company’s 50-year legacy of guiding developers, financial institutions, and real estate clients through complex decisions with trusted advice and local insight," the company said in a press release. "With rennie Commercial, the firm brings its thoughtful approach to a broader range of clients and projects across Metro Vancouver and beyond."
"Backed by rennie's in-house intelligence team, which includes economists, demographers, and market analysts, rennie Commercial offers advisors and clients access to real-time data, emerging trends, and strategic guidance," the company added. "The commercial team also benefits from the firm's integrated network across residential, presale, leasing and institutional real estate, creating new opportunities for collaboration and service."
Rennie has dabbled in commercial real estate before, as the company has had commercial real estate brokers in its stable, but the launch of a dedicated brokerage signals that commercial real estate is going to become a bigger part of its business.
In its press release, rennie — which made some high-profile layoffs earlier this year that affected its marketing team — also made an appeal to brokers at other brokerages, saying that rennie Commercial is "designed to attract experienced advisors who are looking for more autonomy" and that their model "provides the tools and flexibility professionals need to grow their business while staying connected to the strength of the rennie brand."
"Launching rennie Commercial is an exciting and important step for us," said rennie President Greg Zayadi. "We have built long-standing relationships across the industry by focusing on insight, integrity, and people-first service. Expanding into commercial real estate builds on that foundation. It is an organically opportunistic next chapter in the story we have been telling for decades."
Rennie is launching a new commercial real estate brokerage called rennie Commercial. / Rennie
"Over the last decade since returning to rennie, Kris [Rennie] and I have often talked about growth," Zayadi added in a LinkedIn post. "Not growth for the sake of it, but growth that happens organically when the right opportunities align with our people, our culture, and our platform. That is how we have approached every step forward, from rental and lease-up to expanding into the US. Launching rennie Commercial follows that same path. It is not about adding another line of business. It is about broadening what we already do and deepening the relationships we already have."
In his post, Zayadi also pointed to the example of Marine Landing, a stacked industrial project by Wesbild that rennie (and Colliers) handled sales for, as a sign of "how much opportunity there is in strata-titled commercial work." However, Marine Landing may not be the best example, as many presale purchasers of the strata units have been caught in a washroom requirement dispute that the developer says could have been avoided with better due diligence by the buyers and their representatives.
Although Zayadi did not mention the dispute, he said that "The lesson was clear: we need more resources and more advisors to support this kind of project in the years ahead," adding that "We know we are new here, and that is a good thing. It keeps us listening, collaborating across teams, and staying focused on where we can add real value."
The brokerage's website currently lists two brokers: Jason Lai, who has been with rennie for over a decade, and Andrew Hutson, who joined rennie in May 2025 and has spent time with commercial real estate brokerages Marcus & Millichap and Cushman & Wakefield.
Current listings include retail space and industrial space for lease and for sale, but most of the listings are development sites, including large land assemblies in Surrey and Vancouver. The brokerage's website also indicates that it has completed several sales already, including 1010, 1016 West 48th Avenue and 6409, 6429 Oak Street, a land assembly near W 49th Avenue that spans 16,310 sq. ft and is expected to accommodate a rental building.
Amid less-than-ideal business conditions in Toronto, one real estate marketing agency is looking further afield for opportunities to expand its footprint and diversify its services — places like Dubai, Florida, and Grand Cayman.
The company, Pivot Real Estate Group, leases and sells units in high-, mid-, and low-rise buildings from major Toronto developers and is among the largest pre-construction brokerages in the GTA. They've been around for over 30 years, have more than 50,000 sold units under their belt, and have a broker network of over 40,000 agents.
But they too have felt the energy seeping out of the GTA's real estate markets, and in order to adapt and expand business, they're turning to foreign markets where real estate remains alive and well. Pivot Principal Elliot Taube tells STOREYS this foreign expansion is in addition to its continued operations in the GTA.
"We still do exactly what we always did. We're still working for top developers all throughout the city, whether it's fulfilling the last sales in their condos, helping purchasers through closing, or launching low-rise projects, but we've been looking at other opportunities to expand the business," he says. "We've seen the market slow down considerably in the GTA, but there are markets throughout the world that are still very active and very buoyant."
Taube explains they saw an opportunity to position Pivot as Canada's gateway to certain international markets Canadians already have an interest in.
"We did a lot of research and saw that Canadians make up a considerable percentage of people buying in [Dubai, Florida, and Grand Cayman]," he says. "We've always known that Canadian snowbirds have gravitated to Florida, Cayman is a place that has great tax advantages, and people with wealth continue to look for those types of opportunities. And then Dubai is really the global hotspot at the moment, and has been for years."
The only challenge, Taube says, was finding the right developers and brands to partner with. "We wanted to make sure that the relationships that we create were the right relationships. People would respect the brands. They would be desirable."
In Dubai, this entails setting up a flagship international market and collaborating with Damac — Dubai’s largest private developer. In Grand Cayman, Pivot is now the exclusive Canadian listing broker for the luxurious Mandarin Oriental Residences Grand Cayman, while in Florida, the company plans to expand their marketing footprint into Miami and broader Florida markets.
While condo sales continue to plummet in Toronto and buildings struggle to fill rental units, Pivot is, well, pivoting to ensure their business can continue to deliver the services it has for over three decades, by offering opportunities where, for the time being, the grass is greener than in the GTA.
Opening up operations in these markets allows Pivot to work with willing buyers and investors in regions less affected by the Canadian economy and Canadian politics. "There's still people looking to invest and get out of the country and look for different opportunities," says Taube. "So we thought, let's go after those types of opportunities."
"When we chose the name of the company, we never knew how appropriate it would become," he says. "That Pivot continues to pivot, to find new opportunities, to keep growing, to thrive."
Left to right: Nch'ḵay̓ CDO Jennifer Podmore Russell, Nch'ḵay̓ CEO Mindy Wight, and CAPREIT President & CEO Mark Kenney. / CAPREIT
On Wednesday, CAPREIT (TSX: CAR.UN) and Nch’ḵay̓ — the economic development arm of the Skwxwú7mesh Úxwumixw (Squamish Nation) — jointly announced that they had completed a transaction pertaining to the International Plaza Apartments in North Vancouver.
The International Plaza Apartments are located at 1959-1999 Marine Drive in North Vancouver, at the southwest corner of the intersection with Capilano Road. The property consists of two high-rise towers with a total of 471 rental units above just over 65,000 sq. ft of commercial retail space and sits atop reserve land located in the Squamish Nation village of X̱wemelch’stn (Capilano IR #5).
According to Nch’ḵay̓, the Squamish Nation leased out the land for development in 1965, the lease was reassigned in 1972, and construction of the International Plaza Apartments was completed in 1975. CAPREIT later acquired the property in 2004 and, thus, the transaction now returns ownership of the property to the Squamish Nation.
"Strengthening Squamish presence and ownership of assets on Squamish land is at the heart of this acquisition," said Nch’ḵay̓ CEO Mindy Wight in a press release. "It honours the vision of our past leaders, the dedication of Council, and our shared commitment to building lasting opportunity for the Squamish Nation. This is more than a real estate transaction; it is a step toward reclaiming control of our land, creating opportunities for our people, and building a future rooted in community."
"As stewards of this land once again, the Squamish Nation reclaims the responsibility to shape the experience for residents by bringing a strong Sḵwx̱wú7mesh presence and cultural identity to the site," added Nch’ḵay̓ Chief Development Officer Jennifer Podmore Russell. "Building on the momentum created at Sen̓áḵw, this acquisition further demonstrates our ability to lead large-scale initiatives that drive economic sovereignty for the Squamish People and marks real progress toward the long-term vision set out in the Nation's 25-year Generational Plan."
International Plaza at 1959-1999 Marine Drive in North Vancouver. / Nch’ḵay̓
Nch’ḵay̓ said the acquisition was made through a newly formed subsidiary called Ch’ich’iyúy Limited Partnership. CAPREIT said in its own press release that the sale price was $54.2 million, excluding transaction costs and other customary adjustments. The transaction was financed via the CMHC's MLI Select Program.
"We're honoured to take part in a transaction that transfers land back to the Squamish Nation, and contribute to their journey towards expanded economic leadership in the region, and in particular the growth of First Nations representation in the residential real estate industry in Canada," said CAPREIT President & CEO Mark Kenney. "We hope to continue working with organizations such as Nch’ḵay̓, that will see to the preservation of high-quality living for residents, the continued enrichment of surrounding communities, and the development of many more homes for Canadians."
Nch’ḵay̓ said in their announcement that they have retained Peterson to oversee daily operations of International Plaza.
"With support from Peterson, Nch’ḵay̓ will focus on investing in capital improvements to building infrastructure, common spaces, and individual units — prioritizing health, safety, and quality of life for all who call International Plaza home," said Nch’ḵay̓.
"We’re honoured to support Nch’ḵay̓ in this important milestone for the Squamish Nation and to help support the community at International Plaza," said Peterson's SVP of Residential Barrett Sprowson. "Our focus is on ensuring residents feel at home, while providing professional property management services for today, and for the long-term."
A rendering of the revised proposal for 570 Columbia Street (105 Keefer Street) in Vancouver. / James KM Cheng Architects, Beedie
Burnaby-based real estate developer Beedie is now ready to move forward with a new design for its project in Chinatown, a project that has drawn opposition and controversy like few other development projects in Vancouver have before.
The subject site of the proposal is 105 Keefer Street (now being referred to by Beedie as 570 Columbia Street), located directly east of the Dr. Sun Yat-Sen Public Park and Chinese Cultural Centre Museum. The site, which is currently a vacant surface parking lot, is next to Chinatown Memorial Square, a landmark public space that also regularly hosts community events.
The Story So Far
Beedie acquired the site in 2013 and eventually came forward with a proposal for a 12-storey building, designed by Merrick Architecture, with 106 strata units and 25 social housing units for seniors. However, the proposal was rejected by Vancouver City Council — led by then-Mayor Gregor Robertson, now the federal Minister of Housing — in June 2017, forcing Beedie to go back to the drawing board.
Beedie returned a few months later with a nine-storey proposal that did not require rezoning (i.e. Council approval) and removed the social housing component. Without needing rezoning, the proposal went directly to the Development Permit Board (DPB), which rejected the proposal once more. The three-person Board consisted of Director of Planning Gil Kelley, Chief Engineer Jerry Dobrovolny, (now Chief Administrative Officer of Metro Vancouver), and Paul Mochrie (the Deputy City Manager at the time who was eventually elevated to City Manager and recently left the City.)
Undoubtedly frustrated, Beedie eventually filed a civil suit against the City of Vancouver saying that "the Board's decision was made in bad faith and without affording Beedie procedural fairness" and was also "substantively unreasonable," as described by the judge that presided over the case. Beedie said they reviewed 111 development permit applications submitted between 2012 and 2017 and theirs was the only one that was rejected by the DPB. They thus asked the court to quash the DPB's decision and to order the DPB to grant their development permit.
The 2017 nine-storey proposal for 105 Keefer Street that was conditionally approved in 2023. / Merrick Architecture, Beedie
In December 2022, Judge Brongers ruled in favour of Beedie, finding that "the Board's reasons for decision are inadequate, particularly given its highly unusual conclusion that Beedie's application warrants being wholly rejected," but stopped short of ordering the DPB to grant the development permit. Instead, the DPB was ordered to reconsider the application.
The application returned to the Development Permit Board in June 2023 and again drew opposition from crowds and crowds of people — several hundred, according to local media reports from the time — who described the proposal as emblematic of gentrification and out of place, among other things. (Seven Chinatown-focused groups also issued a joint letter supporting the project.)
This time around, the DPB approved the application, but with a series of conditions that resulted in Beedie bringing in well-known architect James Cheng to take over the design of the project, as previously reported by STOREYS.
The Revised Design (2025)
Although the new design by James Cheng looks substantially different from the previous design, the base characteristics are largely the same and the new proposal includes what the project team believes to be improvements on the previous proposal.
The proposal is still for a nine-storey building, now with 133 strata units and a suite mix of 12 studio units, 46 one-bedroom units, 70 two-bedroom units, and five three-bedroom units. A total of 76 vehicle parking stalls and 167 bicycle parking stalls will be provided. The ground floor will still include retail space along Keefer Street and Columbia Street, as well as a social services centre.
In a note published alongside the development application, the City said that changes include increased building height for decorative roof elements and structures that support rooftop amenities, minor relaxations to support a courtyard building form, and minor encroachments into the public realm for building cornices.
A rendering of the 2025 proposal for 105 Keefer Street (570 Columbia Street). / James KM Cheng Architects, Beedie
According to a presentation that will be delivered at an open house on October 1, the updated proposal also includes an expansion of Chinatown Memorial Square, as well as a colonnade — a series of columns — that echo the Chinese Cultural Centre Museum and creates an inviting and covered public space.
Inside the building, a notable change pertains to the atrium. In 2017, the DPB recommended that the height of atrium be increased. In response, Beedie has now extended the atrium all the way to the top of the building, allowing for improved daylight access and open-air ventilation. "A removable courtyard cover has been incorporated to provide weather protection, ensuring the space remains functional and accessible throughout the year," the presentation states, adding that, "The translucent cover also brightens the courtyard during the day and gently glows like a lantern at night."
After publishing the revised development application on September 9, the City of Vancouver is now accepting public comments on the application until September 29. The Q&A period for the application will run from September 22 to September 28, the Beedie-led open house will be held on October 1, before the application returns to the Development Permit Board on October 20.
Over the last several years, the real estate market has come to occupy the cultural zeitgeist in a major way. At dinner tables and water coolers across the country, Canadians have talked about the market when it soars, when it slides, and when it stagnates.
This is something that has always been true for industry stakeholders and investors, but since the market volatility that followed the pandemic, everyday folk both young and old have been getting in on the discussion. They have opinions, they have complaints, and they have questions.
Mike Moffat, Founding Director of the Missing Middle Initiative and Co-Host of The Missing Middle podcast alongside journalist Sabrina Maddeaux, theorizes that the rise of real estate as a topic of everyday discussion comes from people simply having more skin in the game. "The general public is just trying to figure out what the hell happened," he tells STOREYS. "They want to know why it is that affordability has cratered — why is it that their kids can't afford a place?"
Meeting this demand for explanations head on are industry experts, many of whom have turned to one of the 21st century's most popular information mediums to do so: podcasting.
A Robust Audience
Podcasts in general have risen in popularity over the past decade, solidifying themselves as a pillar of the audio medium. While the specific number of Canadians who listen to real estate podcasts isn't available, around 30% of Canadians aged over 18 listened to podcasts on a weekly basis in 2024, according to the Canadian Podcast Listener, while around 40% listened on a monthly basis, equating to approximately 16.4 million Canadians.
In recent years, dozens of real estate podcasts have cropped up, and while some have puttered out, several remain for thousands of Canadians to tune into for their daily or weekly dose of real estate news updates, housing policy developments, investing insights, and more.
Meredith Martin is the producer of The Missing Middle podcast. The show essentially focuses on why today's middle class in being left out of the Canadian dream — think episodes like: "Canada's GST Rebate is Based On 1991 Home Prices-WTF!?!" and "Will Reduced Immigration Solve The Housing Crisis?" She says adding a podcast to the Missing Middle Initiative's repertoire "just made sense" and that's "it's the medium of now."
Left to right: Mike Moffat, Meredith Martin
Daniel Foch and Nick Hill, mortgage brokers and hosts of another popular real estate podcast called The Canadian Real Estate Investor, say that when they launched their show in early 2022, they were met with a willing audience. As an off-shoot of the popular The Canadian Investor podcast, Foch and Hill's real estate-focused show launched at number one in Canada, has never left the top 40 for business podcasts, and typically sits in the top 20.
Despite the name of their show, Foch tells STOREYS it's not just investors that listen. "We have a lot of homeowners, homebuyers, first time buyers, and people who just like economics and investment philosophy, who listen to the show," he says.
'Conversationalizing' The Data
Part of what makes podcasting so appealing to so many, Foch says, is the ability to present a wealth of information in a way that not only holds audiences' attention, but allows for greater connection than other mediums.
"Podcasting is just a really efficient way to go deep on content, and it's also an efficient way to build a relationship with an audience because of that conversational style," he says. "It's just a really captive, intimate platform."
It also allows for a more approachable tone at times, adds Hill. "We stick to the script I'd say 70% of the time, just because we want to really make sure that we're getting as much info delivered as possible. [...] And then we'll throw in 20% or 30% of anecdotes and us trying to be funny every now and then. Which doesn't work."
Left to right: Daniel Foch, Nick Hill
For Moffat, who comes from the world of more traditional 'think tank' information dissemination, podcasting provides a more modern medium to efficiently communicate what is oftentimes complex data to a larger audience base. "The traditional think tank model has always been: release the 50-page report and do some media around it, and then nobody hears from you for six months until you do another one," he says. "That works for many think tanks, but I've always found it a little bit dated."
Staying On The Pulse
Moffat says that over the last few years he and his team had already begun producing more digestible, shorter-form reports, and that a podcast was the natural next step and the more "modern medium." Over the course of a roughly 30-minute episode, Moffat and his co-host Maddeaux might break down 15 years of data on planning committee decisions on infill housing projects to find out what makes or breaks a proposal, unpack the role of REITs, or tackle big questions like: are young people giving up on Canada?
Over at The Canadian Real Estate Investor, Foch and Hill provide a similar service, only with a stronger emphasis on investing and market insights. In their roughly 45 minute to one-hour episodes, the pair might cover a breaking real estate news story in depth, discuss market trends like the slowing cottage market or Canadian homeowners leaving the US, or simply dive into 25 real estate terms you need to know.
"We really try to gather as much hard data and information as possible, and then shape that into an understandable narrative," says Hill. "Our goal is that anybody listening can leave just a little bit smarter."
On top of efficiently unpacking stories and concepts, both podcasts also frequently welcome guests onto their shows, allowing listeners to hear, first-hand, from big names in housing and real estate who are often otherwise inaccessible. The Missing Middle, for example, has featured compelling guest interviews, including with mortgage broker Ron Butler, Jason Slaughter of Not Just Bikes, and Alex Beheshti, Senior Consultant with Altus Group Economic Consulting.
Honest Discussions
In mid-July, Foch and Hill interviewed the Canada Mortgage and Housing Corporation's (CMHC) Deputy Chief Economist, Aled ab Iorwerth, about his June report, which found Canada would need to double housing starts to restore affordability by 2035. The report garnered significant attention in the news cycle, but by speaking directly with ab Iorwerth, Foch and Hill were able to unlock a refreshingly honest and nuanced conversation around housing starts.
Ultimately, existing separate from more formal industry associations and corporations, real estate podcasts like The Missing Middle and The Canadian Real Estate Investor are able to tackle real estate from a more unbiased standpoint — something Foch believes has been key in building their audience.
Echoing Moffat, Foch says people just want to get to the bottom of what happened to the housing market and what could make it turn around. "I think it's created fear. And so people do research and want to get educated in trying to quell that fear a little bit," he says. "And that's why I think our show's done really well... because we try not to sugarcoat things. The industry is infamous for tiptoeing around stuff... but people are really craving genuine discussions about what's happening."
A rendering of the proposal for 2808-2888 E Broadway, 2813-2881 E 10th Ave, 2528-2580 Kaslo St. / Arcadis, Sightline Properties
With the City of Vancouver approving the new Rupert and Renfrew Station Area Plan earlier this year, the stage is now set for a large-scale redevelopment of the area, and few may get larger than what Vancouver-based real estate developer Sightline Properties is planning.
The subject site of the proposal is a 26-lot land assembly that includes 2808-2888 E Broadway, 2813-2881 E 10th Avenue, and 2528-2580 Kaslo Street. The land assembly is made up of two rows of 13 single-family homes located about half a block west of Renfrew Street and approximately two blocks north of the Millennium Line SkyTrain's Renfrew Station.
As first reported by STOREYS earlier this year, Sightline Properties acquired the land assembly in phases over the past year for an aggregate purchase price of $100,428,664. The 26 parcels are now held under four entities: Broadway Kaslo NW Holdings Ltd., Broadway Kaslo NE Holdings Ltd., Broadway Kaslo SW Holdings Ltd., and Broadway Kaslo SE Holdings Ltd.
The 3.06-acre site is currently zoned R1-1 (Residential) and Sightline Properties is seeking to rezone the site to CD-1 (Comprehensive Development), according to a rezoning application published by the City of Vancouver on September 8.
2808-2888 E Broadway, 2813-2881 E 10th Avenue, and 2528-2580 Kaslo Street in Vancouver, north of Renfrew Station. / Arcadis, Sightline Properties
For the site, Sightline Properties is proposing a total of 1,959 residential units — split between 1,386 strata units and 573 rental units, with 20% of the rental floor area provided as below-market rental — across four high-rise towers between 39 and 45 storeys (and a few townhouses) that will also include commercial space and childcare space. The project has a maximum height of 618 ft and density of 10.5 FSR.
As the names of the holding companies suggest, the site will be split into four quadrants, with each quadrant housing one tower and each quadrant making up one phase of the project. The exact sequence of the phases was not detailed in the rezoning application, which was prepared by Arcadis, but the applicants say the intention is to start with the southeast quadrant.
The southeast quadrant will be home to the shortest of the four towers: a 39-storey tower with 443 strata units and a suite mix of 72 studio units, 216 one-bedroom units, and 155 family-size units (with two or more bedrooms). Average unit sizes will be at least 400 sq. ft for studio units, between 477 sq. ft and 613 sq. ft for one-bedroom units, between 675 sq. ft and 868 sq. ft for family-size units, and between 1,197 sq. ft and 1,213 sq. ft for townhouses.
View of the towers from the corner of E Broadway and Kaslo Street. / Arcadis, Sightline Properties
View of the towers from along E 10th Avenue. / Arcadis, Sightline Properties
The tallest of the four towers is set for the northwest quadrant, which will be home to a 45-storey tower with 573 units, with a suite mix of 167 studio units, 200 one-bedroom units, 146 two-bedroom units, and 60 three-bedroom units. The 573 units in this tower will consist of 459 market rental units and 114 below-market rental units. Average unit sizes will be between 400 and 413 sq. ft for studio units, between 450 sq. ft and 514 sq. ft for one-bedroom units, between 700 sq. ft and 843 sq. ft for two-bedroom units, between 799 sq. ft and 939 sq. ft for three-bedroom units, and between 1,170 sq. ft and 1,213 sq. ft for townhouses.
Planned for the northeast quadrant is a 41-storey tower with 483 strata units, with a suite mix of 73 studio units, 238 one-bedroom units, and 172 two-bedroom units. Average unit sizes will range from 400 sq. ft to 483 sq. ft for studio units, between 504 sq. ft and 578 sq. ft for one-bedroom units. The listed square footage range for family-size units (504 to 578 sq. ft) matches that of the one-bedroom units, suggesting a likely typo in the application.
The southwest quadrant will also be home to a 41-storey tower, this time with 460 strata units and a suite mix of 67 studio units, 232 one-bedroom units, and 161 family-size units. Average unit sizes will range from 400 sq. ft to 547 sq. ft, 504 sq. ft to 578 sq. ft, and 702 sq. ft to 815 sq. ft for family-size units.
View of the towers from the corner of Kaslo Street and E 10th Avenue. / Arcadis, Sightline Properties
View of the public space between the four towers. / Arcadis, Sightline Properties
The proposal also includes 46,000 sq. ft of private amenity space, 15,000 sq. ft of retail space, and a 73-space childcare facility with 8,300 sq. ft of space. The retail space is planned for the ground floors of the two northern buildings, which will include podiums that extend along E Broadway, while the childcare facility will be located along E 10th Avenue near the southwest corner.
"Activating uses have been programmed along the Broadway and 10th Ave frontages," the applicants state in their rezoning application. "Neighbourhood retail is proposed along the length of Broadway, with significant setbacks and an enhanced sidewalk, creating a vibrant urban retail experience. Along 10th Avenue, a new child daycare is planned at the southwest corner of the site to take advantage of the southern exposure and solar access throughout the year. Residential townhomes are planned along the remainder of 10th Ave, creating a local street character."
"At the centre of the development is a new, publicly accessible open space that is designed to provide a tranquil, naturalized experience for residents and neighbours throughout the community," they added. "As there are several sports fields and open lawns in the surrounding area, the intent of the central open space is to provide places to sit and congregate and get away from the hustle and bustle of city life, where users can enjoy the sounds of birds and the wind blowing through the leaves."
View of the public space between the four towers. / Arcadis, Sightline Properties
View of the public space between the four towers. / Arcadis, Sightline Properties
Although the proposed towers are significantly taller than their surrounding context, the proposal is in line with what is envisioned under the new Rupert and Renfrew Station Area Plan, which designates the area for high-rise residential development between 29 and 45 storeys. The site is also a Tier 2 transit-oriented area under provincial legislation.
"This application is being considered under the Rupert Renfrew Station Area Plan as a new Unique Site," said the City in a note published alongside the rezoning application. "Proposals for Unique Sites are expected to undertake a more comprehensive development review and consultation process, given their larger scale and complexity."
The City will be hosting the Q&A period for the project from Wednesday, November 12 until Tuesday, November 25 and will also be hosting an in-person information session on Tuesday, November 18 at the Sunrise Community Association Hall at 1950 Windermere Street from 4:00 pm to 7:00 pm. The proposal will then be considered by the Urban Design Panel on November 26.
Elsewhere in Vancouver, Sightline Properties is developing a 38-storey tower next to Joyce Station. At 520-590 W 29th Avenue and 4510-4550 Ash Street in Vancouver, Sightline is also developing two six-storey rental buildings, but the project recently became the subject of a legal challenge by local residents. In addition, Sightline is the developer of the six-storey rental building in the Dunbar neighbourhood that was destroyed by a fire last summer.