The Most Influential People In Ontario Real Estate Right Now

Adrian Rocca | The PBR Star

CEO of Fitzrovia

He was all-in on rental before it became cool.

Building rental may be all the rage now, but Fitzrovia was well ahead of the curve. In the seven years since Adrian Rocca founded Fitzrovia, he’s scaled the company into the country’s largest developer of purpose-built rentals. Rocca came in with more than two decades of real estate investment management experience, giving him a framework for which kinds of projects to go after: transit-oriented developments that can serve the local community.

Fitzrovia’s rentals look nothing like the bare-bones apartment buildings seen during the last rental construction boom. They’re focused on design with high-end amenities that rival any condo building, from rooftop infinity pools to pet spas and even an indoor basketball court. Rocca’s vision has elevated the purpose-built rental game to new heights – ones that other developers are now wanting to emulate.

Alessandro Munge | The Tastemaker

Founder of Studio Munge

He’s behind some of Toronto’s most jaw-dropping interior designs.

Step into any one of Toronto’s most aesthetically beautiful spaces, the kind that makes you stop and try to take in every carefully selected detail, and there’s a good chance it’s been designed by Alessandro Munge’s team at Studio Munge. The interior design firm has curated a design-forward atmosphere for everything from five-star hotels to luxury condo buildings to fine-dining restaurants.

Although Munge’s portfolio contains far too many projects to list, they include the Bisha Hotel, Cluny Bistro, and the brand-new Nobu restaurant and residences. With projects like these, the award-winning studio’s bold designs are setting a new bar for atmosphere creation and guest experience – one that others will surely strive to emulate.

Shane Dingman | The Headline

Reporter at The Globe and Mail

He leaves no real estate rock unturned.

If you want to get into the juicy details of some of the most interesting stories in Ontario real estate, taking a browse through Shane Dingman’s articles will do the trick. This year alone he has shed light on post-secondary students having to skip meals amid skyrocketing rents, new life being breathed into a distressed Stateview Homes site, and the battle between realtors over new exclusive listing rules. It’s easy to say the real estate world has no shortage of stories to tell, but Dingman does an incredible job of finding, and telling, compelling narratives that speak to bigger trends in the industry.

Real estate quickly became a dinner table topic over the past few years amid increasing unaffordability. As the knock-on effects of those shifts in the market continue to play out, quality storytelling that unearths the experiences of both those in the industry and those on the outside who are affected by it will be vital.

Ontario Developer Coalition | The Building Bloc

The Coalition Against New Home Taxes

They’re steadfast on bringing down building fees.

A new group came onto the scene this summer. Dubbed the Coalition Against New Home Taxes (CANT), the group, composed of 30 developers across Southern Ontario, is advocating for the removal of HST on all new housing, as well as the reduction of development charges and the elimination of land-transfer tax on new homes in Toronto. Big names like Alterra, MOD Developments, Stafford, Republic Developments, and Harlo Capital have joined, and they’re on a mission to fix a system they feel is broken.

While there is also a quieter collection of industry players working behind the scenes to get changes like these made, CANT continues to have the loudest voice in the room, including issuing a statement in response to the Conservatives' pledge to remove GST from new homes under $1 million.

Of course, developers have long lamented the rising taxes, fees, and levies placed on new home construction. By cutting them, they say, savings can be passed onto homebuyers. With a united front and government following suit, it's argued that homes should become more affordable. Right or wrong, the call to political arms has already inspired a look-alike group of developers in Metro Vancouver to take a similar stand.

Mansoor Kazerouni | The Global Talent

Global Director of Buildings at Arcadis

His world-class designs are enhancing our skylines.

Mansoor Kazerouni has designed buildings all over the world, from the US to India, UAE to Jordan. And thankfully for us, he’s also taking his global talents and designing beautiful, cutting-edge buildings right here in Ontario.

In the sea of boxy glass towers that is so often associated with Toronto (and all of the GTA, for that matter), Kazerouni’s projects stand out. Design-forward and wholly unique, he and his colleagues at Arcadis make their architectural presence known. From the honeycomb-patterned Axis Condos on Church Street to the Pharrell Williams-inspired Untitled Toronto to the twisting M3 Tower in Mississauga, each is thoughtfully designed and our cities are all the better for them.

Jeremiah Shamess | The Closer

Head of Colliers Private Capital Investment Group

He's everything, everywhere, all at once.

If you keep an eye on the GTA’s commercial real estate listings, then you’re going to have come across Jeremiah Shamess’ name. From a distressed Vandyk development site to a Yorkville office building to 54-acre RV park, Shamess and his team are out there selling properties and getting deals done. In fact, he boasts an impressively high closing rate of 81%. As the founder of Colliers Private Capital Investment Group, he handles a mix of multifamily, retail, office, and development sites, keeping a finger on the commercial market’s pulse.

It comes as little surprise then that Shamess, his deals, and his insights have been featured by numerous media outlets and he’s often asked to speak at industry conferences and events. He’s become a leading voice in the commercial world – look no further than the engagement on his LinkedIn posts – and as the market picks back up again, it’s one the industry will be listening to.

Victoria Mancinelli | The Progressive 

Director of Public Relations, Communications and Marketing at LiUNA

As labour demand shifts, she’s a leading – and uplifting – voice.

As the mouthpiece for one of Canada’s most prominent labour unions, Victoria Mancinelli has a voice that the industry pays attention to. She uses her platform to push for progress on a wide range of issues, from investing more into trades skills development to combating antisemitic rhetoric. But she is, perhaps, best known for being an advocate for women in the construction industry, speaking out about the need to provide better opportunities for women’s success and encouraging more women to join the trades.

The development industry is continuing to see substantial shifts in terms of what is – and more often, is not – being built. And as tradespeople navigate these rougher waters, they look to voices like Mancinelli’s for guidance.

Phil Verster | The Ticking Clock

President and CEO of Metrolinx

“Progress is relentless” but so are questions about the Eglinton Crosstown LRT.

It’s hard to get all Ontarians to agree on something these days, but ask them what the Province’s biggest fumble has been in recent years, and there’s a good chance the answer will overwhelmingly be the Eglinton Crosstown LRT. For Metrolinx CEO Phil Verster, the man with whom the buck stops, it may just be the defining project of his career. Unfortunately.

Four years delayed, more than $1 billion over budget, and with still no opening date in sight, all of the businesses affected by construction and all of the developers who planned (and may have already finished) projects near the new Toronto transit line will have their eyes on Verster. He may have said in a recent press conference that “progress is relentless” on the LRT, but with no more specifics to give, Torontonians will be waiting in the coming months, if not years, for something more than what has become Verster’s hallmark update about how there is no update.

Pierre Poilievre | The Challenger

Conservative Party of Canada Leader

Love him or hate him, Poilievre is positioning himself as the solution to Canada’s housing crisis.

Pierre Poilievre has undoubtedly made Canada’s housing crisis a key point of his political platform (and of his attacks against current federal government leaders). At the end of last year, Polievre released his “Housing Hell” short film and, although filled with debatable facts, it got at the heart of how Canadians are feeling: housing prices are simply too high.

Poilievre is positioning himself as the solution to that problem. His carrot-and-stick housing plan, however, has received mixed reviews from politicians, industry experts, and citizens alike. Efforts to speed up CMHC financing approvals would be widely welcomed, but plans to tie federal funding for municipalities to housing starts has drawn criticism from municipal leaders. That said, just this week Poilievre released a plan proposing the removal of GST from all new homes sold for under $1 million, and several in the industry are already applauding it.

Regardless, as very likely Canada's next Prime Minister – if current polling has anything to say about it – Poilievre will soon have to put his (government’s) money where his mouth is and address Canada’s housing crisis head-on.

KSV Advisory | The Receiver

Restructuring Advisory and Valuation Firm

When high-profile developments go bust, KSV is called into action.

If 2024 had to have a real estate industry nickname, it’d be “The Year of Receiverships.” Virtually every week there seems to be yet another development that’s found itself in dire straits, being placed under receivership. And behind many of those receivership proceedings, overseeing the whole process from inception to sale closing, is KSV Advisory.

KSV is one of the largest insolvency firms in the country and has shepherded some of the most challenged development site receiverships this year. The firm navigated the sale of several distressed projects from Stateview Homes, multiple Vandyk development sites, Sam Mizrahi’s stake in the 128 Hazelton condo project, and a partially complete four-tower development in Kitchener, just to name a few. Those in the know will tell you more receiverships and bankruptcies are on the way, and KSV is certain to be taking the reins on quite a few.

Ron Butler | The Commentator

Founder and Mortgage Broker at Butler Mortgage

He’s the most widely listened to mortgage expert around.

Want to know the ins and outs of what’s going on on the mortgage front? Then there’s one person whose social media posts you’ll want to follow and that’s Ron Butler. Butler’s often, ahem, colourful commentary on the mortgage market is both insightful and entertaining – there’s a reason he has over 78,000 followers on X.

From BNN Bloomberg to CTV to, yes, STOREYS, he is the go-to expert for mortgage insights. He has his pulse on what’s going on, a keen eye for what’s going to happen, and a penchant for memorable quotes, like Toronto’s “dog crate condos” or buyers’ “FOGS: fear of getting screwed” (the opposite of FOMO). With everyone’s eyes peeled and fingers crossed as they wait for the next interest rate announcement, Butler’s insights are as important as ever.

Benjamin Tal, Douglas Porter, Robert Hogue, Rishi Sondhi, and Derek Holt | The Economists

CIBC, BMO, RBC, TD, Scotiabank

Trusted source of economic insights in a period of extended uncertainty.

The last year has put the economy on a wild ride, to say the least, and there isn’t a person out there who isn’t looking for some sort of assurance of what’s to come. And while no crystal ball exists, the economists at Canada’s 'Big Five' banks, and the reports they put out, are as close as we can get to a psychic reading.

From interest rate predictions to housing market reports to breakdowns of government budget policies, Tal, Porter, Hogue, Sondhi, and Holt are providing Canadians with impactful insights into the often very complex topics that affect their everyday lives. With the recent changes to mortgage rules, upcoming rate cuts, and a soon-to-come election that will hinge on Canadian’s lack of affordability, being well equipped with economic insights will be more important than ever.

David Feldman | The Benefactor

Founder, CEO, and President of Camrost Felcorp Inc.

He’s investing in the future of the industry.

The University of Toronto’s Rotman School of Management is getting new real estate-focused programming, thanks to a generous gift from Camrost Felcorp Inc. Founder David Feldman and his wife, Angela. The Feldmans’ $15 million donation, made in February of this year, is being used to establish the David Feldman Centre for Real Estate and Urban Economics. There, students will learn about finance, negotiation, investing, leadership, valuations, and sustainability.

Feldman had already established his legacy in the GTA, overseeing the development of more than 80 buildings, 20,000 homes, and 2 million sq. ft of office and retail space, but now generations of real estate professionals to come will benefit from his investment in the future of the industry. And, hopefully, the industry will be all the better for it.

Blackstone & Tricon | The Billion Dollar Bet

Residential housing developer and operator

With new backing, their portfolio goals are well within reach.

Blackstone’s $3.5-billion takeover of Tricon Residential earlier this year upped the ante on its already very large bet on rental housing. Blackstone may now have Tricon’s portfolio of 37,183 single-family rental homes in the US and 786 multifamily rental homes in Canada under its belt, but Tricon gained the capital backing and expertise of the largest alternative investment fund in the world.

Although Blackstone’s history of purchasing single-family homes may be controversial to some, they have committed to building out the thousands of multifamily rental apartment units in Tricon’s pipeline at a time when rental housing is desperately needed and in short supply. As more and more developers set their sights on rental housing, Tricon, with their new powerhouse backer, will undoubtedly be leading the way.

Wendy Moir | The Regulator

CEO and Registrar at HCRA

She’s cracking down on bad actors in the home building industry.

Since its inception in 2021, the Home Construction Regulatory Authority (HCRA), under the watchful eye of CEO Wendy Moir, has overseen the regulation and licensing of all new home builders in Ontario. What’s ensued has been a crackdown on bad actors and first-of-their-kind penalties against home builders and vendors found to have breached their licence requirements, sometimes in the multi-million-dollar range.

Moir and her team carried out their biggest investigation yet this year, ultimately laying 124 charges against repeat offender Albion Building Consultant Inc. for the illegal building and selling of homes, among many other things. The HCRA has shown it’s not afraid to take action by suspending or revoking building licences, so as Ontario pushes to get more housing built, the regulator will be there making sure everything is above board.

Patrick Brown, Marianne Meed Ward and Carolyn Parrish | The 905 Mayors

Mayor of Brampton, Mayor of Burlington, and Mayor of Mississauga

They’re aggressively pursuing policies to improve the state of housing in their cities.

In case you haven’t been paying attention, it’s not just Toronto that’s dealing with a massive affordability and housing crises. The GTA is struggling across the board, and some of the 905-region mayors are trying to take action.

Mayor Patrick Brown’s commitment to getting a much-needed landlord licensing program off the ground hasn’t wavered despite significant initial pushback. After a brief pause, the Residential Rental Licensing pilot relaunched in April with input from landlords, requiring them to submit less paperwork on the details of their unit. The program is the first of its kind in Brampton, and with fines up to $1,200 for non-compliant landlords, Brown is prepared to hold bad actors accountable and (hopefully) turn Brampton’s rental issues around.

On the building side, developers across the province have long asked for a reduction in development charges and in May, the City of Burlington listened, unanimously voting to lower DCs in an attempt to spur more housing construction. Mayor Marianne Meed Ward presided over the unprecedented decision and has advocated for being adaptable in order to get more shovels in the ground. Although the roughly $1,500 the city dropped DCs by may not be make or break when it comes to a buyer being able to afford a home, it’s a step in the right direction that showed Ward and her councillors are listening to what developers have to say.

Since taking office this summer, Mayor Carolyn Parrish has put her pro-development approach into action, launching a task force to get more housing built in Mississauga. She has been a proponent of converting vacant offices for residential purposes and using mall properties as redevelopment sites for mixed-use buildings with affordable housing and green space. With just a few months under her belt as mayor, only time will tell whether her pro-housing policy ideas pan out.

Derek Goring | The Aviator 

CEO of Northcrest Developments

In a down market, he’s pushing forward on a precedent-setting development.

As more and more developments get put on hold during these turbulent times, Northcrest Developments is taking their portfolio to new heights with the redevelopment of the former Downsview Airport. Headed up by Goring, Northcrest is moving forward on the redevelopment of a staggering 370 acres in the north end of Toronto that will eventually become seven neighbourhoods, built across 30 years.

With 28 million sq. ft of residential space, 7 million sq. ft of commercial and cultural space, and roughly 74 acres of parks and green space, the project, dubbed YZD, will be transformational, to say the least. And that doesn’t even include the 50,000-person-capacity outdoor concert venue that will open on the site next year.

As many in the industry talk about having confidence in the market coming back, Goring is demonstrating that confidence with Northcrest’s bold action. With his leadership and focus on the long term, Northcrest will cement itself as a first-class developer in the city.

Jeff Hull | The Placemaker

President of Hullmark

He’s building one of Toronto’s most-anticipated new communities.

Hullmark has already established itself as a developer that’s not afraid to think outside the typical modern-Toronto-architecture box and create something aesthetically beautiful. From their eye-catching storefront designs along Ossington Avenue to their under-construction flatiron building on King Street West, their projects are something to get excited about.

With their upcoming Beltline Yards development moving ahead, it’s not just one building to get excited about, but a whole community. A masterclass in transit-oriented urban planning, Beltline Yards, in partnership with BGO (formally BentallGreenOak), will see the construction of nearly 2,000 residential units across several buildings near the future Caledonia station. Architecturally, the new community will reflect the design style of Toronto’s 19th- and 20th-century factories and with plans for cafe space, a microbrewery, and a market space for local makers, it’s set to become one of the coolest areas in the city.

Tim Coldwell | The Advisor 

President and CEO of Énska Advisors

After working his way to the top, he’s launching a first-of-its-kind practice of his own.

If you’re in and around the construction industry, chances are you already know the name Tim Coldwell – he’s a leading voice when it comes to bettering the Canadian construction industry and is a staunch advocate for lifting up the little guy. Coldwell’s rise to prominence lends itself to this: he began his career as a summer student at Edmonton-based Chandos Construction and worked his way up over more than two decades to become president of the company, turning it into a nationwide builder along the way.

Now, he’s stepping out on his own, launching Énska Advisors earlier this year, Canada’s first Indigenous real estate advisory and project governance practice. With his decades of insights and known aptitude for success – Spotlight Development has already brought him on as an advisor – Coldwell’s voice is only going to continue to grow.