Western Canada Apartment Investment Conference ITS ABOUT THE - PowerPoint PPT Presentation

Presentation to the Western Canada Apartment Investment Conference IT’S ABOUT THE NUMBERS: A FIELD GUIDE TO THE FIRST STEPS IN DEVELOPING AN APARTMENT BUILDING

In the old days… “Michael, the coins from the washers and dryers were the difference between positive and negative cash flow.” M J Wosk

❖ 110,000+ suites in Metro Vancouver ❖ 3,100+ purpose-built buildings~2061 owners ❖ 1780+ buildings in Vancouver of which 280+ mid/high rise ❖ average age of purpose-built rental buildings: 60+years

“ Living in these units will be like living in a coffin ” 64% of units less than 320 sq.ft. Alderman Jonathan Baker

However municipalities must decrease their minimum suite sizes. 440 sq.ft. is too large

The first purpose-built rental project in West Vancouver in over 40 years

An older building in Vancouver A new building in Calgary Modify building and fire codes so we can start building small apartment buildings again

Consider relocatable modular housing on vacant lots

Temporary modular housing project in Vancouver (Opening Ceremony)

Vancouver’s new West End Plan allows infill apartments along laneways

MORTGAGE HELPERS IN THE SKY: The second bedroom has its own door to corridor and can have its own small kitchen

Conclusion: In absence of senior government programs we need to create innovative solutions. Now it’s time to hear from our panelists! Michael Geller Architect AIBC, FCIP, RPP www.gellersworldtravel.blogspot.com www.michaelgeller.ca