UDI Capital Region Newsletters
Here are some news, updates and information from UDI Capital Region.
Hope you have a great summer!
UDI Capital Region
UDI Capital Region Board Chair’s Message
Dear Members –
I’m pleased to report that the last twelve months have been productive and engaging for the staff and board of UDI Capital Region. The Capital Region real estate market has been a dynamic place to do business, reflecting a strong, healthy economy in our region. Housing affordability, transportation and other development-related matters will continue to be at the top of our minds for our region, and will be priorities for our new provincial government as well. UDI Capital Region is well positioned to play a leadership role in the year to come.
Membership and Events
Interest in UDI Capital Region membership continues to remain strong. We welcomed nineteen new members in the 2016/2017 fiscal year. We have held a number of great events so far in 2017. Our lunches, including our annual forecast lunch, continued to have a strong turnout, and we enjoyed a range of excellent speakers. Our School of Development in early May and upcoming Annual Golf Tournament on May 25th both sold out in record time. Upcoming events include our Summer Social in August and our Out of Town Development Tour to Austin, Texas in September. UDI Capital Region has recently hired Mari Moland to assist with event planning and coordination. Welcome, Mari!
Under the leadership of the new U40 Chair, Oliver Tennant, the UDI U40 Committee has put together some excellent programming with a focus on broadening knowledge and encouraging networking of younger professionals, often focused on challenging emerging issues in our industry. They hosted Michael Van Hemmen, Uber BC’s Senior Public Policy Manager, who spoke about the impact of ride sharing on real estate development and city planning, and Stan Sipos of Cielo Properties, who profiled his new developments including Customs House.
Municipal Liaison Efforts
Our Board Committees continue to tackle a range of important issues affecting development in our region. Our City of Victoria Liaison Committee consulted on the revised CALUC Process, City of Victoria Downtown Victoria Zoning ByLaw Review, Revised Development Fee Structure, Foreign Buyers Tax, Short Term Vacation Rental policy, Garden/Laneway Suite Zoning policy, changes to the Victoria Housing Reserve Fund and Noise Bylaws related to construction concrete pours. Our Housing Committee continues to examine ways to facilitate collaboration between developers and non-profit housing providers. In addition, it is working with municipalities on policies that encourage housing supply as a way to address affordability challenges in our region.
Our Board of Directors will be participating in a strategic planning session in the coming months to ensure that we are well positioned to address issues of strategic importance to our members. The coming year promises to be anything but boring in our industry and our organization! We look forward to continuing to work on your behalf.
Jayne Bradbury—Chair, UDI Capital Region
Executive Director’s Message
We will soon be waving 2016 goodbye – another year over – and what a year it has been. We at UDI Capital Region -board and staff – have been very busy. The development/real estate market has been strong – keeping us all on our toes.
UDI Capital Region has just over 130 active corporate members – up from last year. Our members reflect both UDI’s relevance to the development industry and the active market that continues to sustain our industry’s growth. We anticipate further growth in membership in the coming year as our market continues to thrive.
Member events have been held throughout the last fiscal year including our Annual Golf Tournament, a fall local development tour – West Shore focus, an out of town development tour to Los Angeles and Santa Monica, a Utilities Breakfast and 8 stimulating and informative luncheon events as part of our monthly speaker series. Our last event of the year will be our Festive Christmas Gala which will follow in tradition of donating 100% of our net proceeds to Santa’s Anonymous. Our events have continued to experience very strong – if not, sold out attendance. We look forward to another exciting, engaging year of events in 2017.
UDI Capital Region – U40 group has continued to gain traction with our younger members. We have a new committee of keen young people who will be ramping up the U40 schedule in the coming year.
Municipal Liaison Efforts:
At the committee level, our outreach work with the municipalities and Capital Regional District continues on a number of important policy topics. Work with the City of Victoria includes continued consultation pertaining to the Rock Bay / Douglas Corridor & Fairfield / Gonzales Local Area Plan, CALUC Guidelines Review, Flat Rate Bonus Density outside the downtown core and Review of Schedule “C” Off Street Parking Bylaw. We are engaged with the CRD as part of their Housing Action Team. We anticipate 2017 to be a busy year with continued outreach work with the municipalities and CRD.
We are pleased with the progress made during the 2016 / 2017 fiscal year and look forward to the busy year ahead. We have a healthy level of interest in the organization coming from new members and we continue to find engaging and informative speakers for our luncheons. We look forward to continue to grow our presence as the voice for the development industry within the Capital Region.
Executive Director, UDI Capital Region
The Capital Regional District is certainly witnessing unprecedented development with the number of projects now under construction and more in the planning stages. These development projects depict a very strong, dynamic and healthy economic Capital Region.
UDI hosted a very interesting and dynamic Federal candidates debate in September and the very poplar Victoria development tour was once again a sellout and very successful. We look forward to seeing you at the upcoming November lunch with Mayor Helps and of course the Christmas Gala in December.
Over the past months UDI executive members have been active in meeting with municipal governments discussing how enhancements may occur with the approval processes . These sessions are very beneficial to insure all parties are aware of the development/economic activity that will likely prevail within the region. Your suggestions are always welcome to aide in these dialogues . Please contact Kathy Hogan if you have specific items that you would like to have placed on agendas.
Thank you very much to Kathy Hogan and Tania Conforti on ensuring the success of the past and future programs. Also the very welcome assistance of the UVIC – UDI club that assist with our lunches and events. It’s wonderful to see their excitement and support for community development .
Chair, UDI Capital Region
It is my privilege to be the Chair of the Capital Region UDI Chapter at this exciting time for the Capital Region and its constituent municipalities.
With tourism seeing a significant rebound with the stronger United States dollar, a local technology sector that is consistently exceeding expectations, a stable employment base as the province’s capital, the influx of residents from across Canada and our spectacular natural setting – Victoria and the Capital Region remains one of the most desirable places in Canada to do business and to call home.
With so many positives for Victoria and the Capital Region, I expect that the development industry on the Island will be extremely active over the coming years. There is already a significant base of development underway with several major projects in the planning stages, many about to commence construction and even more nearing completion. The diversity of these projects, from family homes, multifamily rental residential, condominiums, office, commercial and institutional projects means a very busy time for all those in the development, design and construction fields. These projects and new ones will strengthen our communities while providing significant employment and wider economic benefits to the region.
In speaking with industry leaders in the construction and development fields, the most significant challenge in the coming years will be ensuring that there are adequate skilled trades available to build at the scale and quality required to support economic growth. While education facilities such as Camosun College with their expanded facilitates will be leading the way on skills training on Vancouver Island, the development industry must continue to actively support trades programs and apprenticeship opportunities.
Ongoing efforts to address housing affordability issues must also be at the forefront of our industry’s focus in the coming years. As lifestyles and consumer expectations change, from millennials with their changing needs and values, to the most active senior citizens in history, our industry must continue to explore alternative housing forms, upgrades to our aging housing stock, new ownership structures and work even more closely with local government to find attainable solutions along the entire housing continuum.
The UDI Capital Region looks forward to facilitating this important dialogue through our ongoing luncheon and development awareness programs.
Wishing all our members and friends a very enjoyable summer.
Chair, UDI Capital Region
I hope this letter finds everyone off to a productive and enjoyable start to 2015. As discussed by the panelists at our January forecast lunch, it looks to be an interesting year ahead with certain segments of the real estate market facing challenges while others present continued opportunity. The construction of purpose built rental housing continues to be prevailing theme in 2015 and new class A office inventory is expected to break ground. Meanwhile, downtown and shopping center retail is facing concerns over rising vacancy and grappling with the fallout of a number of significant store closures. Throughout, the team at UDI Capital Region continues to advocate on behalf of the industry to ensure that municipal governments provide attractive frameworks for doing business and facilitate educational events and luncheons so that our members receive timely information on the latest trends.
In recent months, we were pleased to host a moderated discussion between three of the City of Victoria mayoral candidates in advance of the November elections. We also kicked off the new year with the annual forecast luncheon mentioned above. In February we were excited to have speakers representing Victoria’s resurgent tourism sector join us to share insights surrounding one of the city’s most important industries. We also look forward to having many members join us on a development tour of Seattle in late Spring and on the golf course for our annual tournament in May.
UDI Capital Region ended 2014 with 124 corporate members, an all time record for the organization. This level of member engagement is in no small part thanks to the tireless efforts of our Executive Director Kathy Hogan. She not only heads up efforts to coordinate and execute our frequent events, but also serves as the front line liaison for all policy advocacy work. On behalf of the board and membership, I would like to thank her for her on-going contribution and leadership.
President, UDI Capital Region
The first half of 2014 has proven to be a busy period for both the local development industry and for the staff and board of UDI Capital Region. New project announcements were made across all property types indicating a healthy degree of optimism amongst the industry and sustained momentum for development activity in the Capital Region for the coming years.
2014’s member events thus far have included four well attended luncheons which featured our annual market forecast, an update on the Royal BC Museum’s long term development plans, a briefing on the rental apartment market and an insightful take on economic development lessons from San Francisco. Also, we were pleased to see so many members out on the golf course during our annual tournament. Notwithstanding the uncooperative weather, Kathy, Tania and their wonderful team of volunteers put on a memorable day at Bear Mountain and it was smiles all around. Looking ahead, a development tour to Vancouver is scheduled for late June. Thanks to some very gracious hosts on the Mainland, we have assembled some excellent guest speakers and project tours. A limited number of spaces remain so please contact Kathy if you are interested in attending.
On the policy side, our liaison efforts with the various CRD municipalities continue as usual. Of particular note, we will be engaging proactively in the City of Victoria’s planning efforts surrounding the update to the Inner Harbour plan, a topic of much interest to the development industry and the community more generally.
On behalf of the board, I would like to wish you all an enjoyable summer here in the Capital Region. Please don’t hesitate to reach out to us with any comments or suggestions.
President, UDI Capital Region
I am pleased to report that the past six months have proven engaging and productive for the staff and board of UDI Capital Region. Notable member events were held including a sold out development tour of the Capital Region, a festive holiday reception and three stimulating and informative luncheon events as part of our monthly speaker series. Further, in late November, we facilitated the School of Development which was a two day forum on the fundamentals of real estate which saw 30 students learn from a range of industry experts. We were also very pleased to announce the formation of the UDI Capital Region – U40, a derivative group designed to encourage education, mentorship and networking opportunities for people early in their real estate careers. U40 was launched with a well-attended social gathering in November and a number of upcoming events are scheduled for the group including a mentorship breakfast session in late February.
Membership for UDI Capital Region has expanded and now includes over 120 corporate and individual members. We are pleased with this growth as it reflects both organizational relevance to the development industry and an enhanced diversity of voices informing our discussions on topics pertinent to the sector. At the committee level, our outreach work with the municipalities in the CRD continues as usual. Discussions on a number of important policy topics are ongoing with both the City of Victoria and the District of Saanich as we engage collaboratively with our municipal partners on matters of mutual importance.
We have a number of exciting events in the months ahead including three luncheons, our annual golf tournament in May and a development tour to Vancouver in June. We will be in touch with all of the pertinent details in due course. In the meantime, all the best for the first half of 2014 and please don’t hesitate to reach out to us with any comments or suggestions.
President, UDI Capital Region
It has been a busy and productive year thus far for UDI Capital Region. Notable events have included a successful development tour to San Francisco, a sold out golf tournament, and five informative and well attended luncheons as part of our monthly speaker series. In addition, the staff and board of UDI Capital Region have continued work on numerous fronts with the municipalities in the CRD on a broad range of topics with relevance to our members and the development industry more broadly. We have approached these initiatives with the spirit of collaboration and I am pleased to report that our productive relationships with municipal staff and elected officials appear to be as strong as ever. Undoubtedly there are immediate and longer term local and global challenges facing our industry. Nonetheless, through knowledge sharing and thoughtful advocacy, we intend to continue to assist the development industry in ensuring that local opportunities exist to keep business conditions robust and that development undertakings continue to prove enhancing to the broader communities in which we operate.
All the best for the summer months ahead and please don’t hesitate to reach out to us with any comments or suggestions.
President, UDI Capital Region
In this tough Economic time UDI along with our members continue to work with various stakeholders to reach for new ways and ideas to drive through the time of challenge. We feel that Victoria along with British Columbia is truly one of the best places on earth to live and as the global adjustments continue to happen we will be there as an Industry to move with it. We are more excited than ever with the great work we are doing especially with the vari-ous Municipalities and various Government bodies and how we help bridge the gap between challenges for them and creative ways to solve them!
We feel 2013 will be a more fruitful year for Victoria and we look forward to helping achieve this in any way we can.
Enjoy a beautiful and safe Fall and Winter in Victoria.
President, UDI Capital Region
I would like to welcome everyone into another exciting year in this wonderful city we are all fortunate enough to live in and call home. We have had a very productive year with many initiatives such as the Portland Development Tour and I look forward to the upcoming Development 101 Workshop in collaboration with the City of Victoria along with many other forward thinking events and workshops. I thank you all for your support and as the organization continues to gain momentum I look forward to expanding our membership along with our expertise.
Have a great summer!
President, UDI Capital Region