Philip Fraser President & CEO 1 Killam is Atlantic Canadas - - PowerPoint PPT Presentation

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Philip Fraser President & CEO 1 Killam is Atlantic Canadas - - PowerPoint PPT Presentation

Jun 11, 2023 671 likes •876 views

Philip Fraser President & CEO 1 Killam is Atlantic Canadas Apartment Leader with a 14% Market Share 12,900 apartment units. Atlantic Canadian urban markets and Ontario. Average age of the portfolio is 31 years. 2,300 units built in

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Philip Fraser President & CEO

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Killam is Atlantic Canada’s Apartment Leader with a 14% Market Share

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12,900 apartment units. Atlantic Canadian urban markets and Ontario. Average age of the portfolio is 31 years. 2,300 units built in the last 10 years.

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3 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

2005 2006 2007 2008 2009 2010 2011 2012 2013

Halifax Construction Starts - Condo Vs Rental Condos Rental

Condos Represent a Small %

  • f Units in Atlantic Canada

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Since 2010 Killam Has Completed Five Developments

Charlotte Court, Charlottetown, PEI – 49 units Brighton House, Charlottetown, PEI – 47 units

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Since 2010 Killam Has Completed Five Developments

S 2, Halifax, NS 63 units The Plaza, Fredericton, NB 101 units

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Since 2010 Killam has completed five developments

Bennett House S

  • t. John’s, NFLD

71 units

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Why Purpose Built Rental is Attractive to Tenants

  • Professional management
  • On-site staff
  • S

ecurity of tenure

  • S

ense of community

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Variety of Construction

  • Woodframe
  • S

tructural Concrete

  • Precast Concrete Panels
  • S

teel Frame with Concrete

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Amenity Spaces

Spacious Entrances

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Amenity Spaces

Common Rooms

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Amenity Spaces

Large, bright gyms

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Unit Features

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Cautionary statement

Case Study - Cambridge

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Case Study: Saginaw Gardens

Cambridge, Ontario

  • Precast concrete panels
  • 7 storeys,122 units
  • Fitness room and large

party/ amenity room

  • $207K/ unit total cost
  • Quicker construction

with precast

  • May 2015 completion
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Cautionary statement

Case Study: Southport

Halifax, Nova Scotia

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  • Condo/ rental proj ect
  • 6 storeys
  • 142 units
  • 70 rental units
  • 72 condo units
  • Fitness room, rooftop

amenity room and retail

  • $210K/ unit total cost
  • Q4 2014 start

Case Study - Southport

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Development Challenges

  • Timing for municipal approvals
  • Access to skilled labour in certain markets
  • Quality control
  • Construction delays
  • Cost overruns
  • Environmental issues (contaminat ion/ noise)
  • Weather
  • Timing of lease-up
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What We’ve Learned

  • Maximizing energy efficiencies
  • Budgeting and scheduling contingency
  • Design features –

what matters most

  • Amenity space –

the right features

  • Understand your market
  • Managing cost overruns
  • Lease-up process
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Why We Continue to Like Developments

  • Attractive yields vs. buying
  • Ability to meet market needs
  • Best quality product
  • High quality tenant base
  • Targets empty nesters/ seniors
  • Low maintenance costs
  • No deferred maintenance
  • High operating margins