Normac was pleased to be a part of IREM BC Chapter 50 and REIC Greater Vancouver Chapter Educational Seminar Summer Breakfast on June 21, 2016. The seminar’s focus was mixed use developments and air space parcels.
The session was led by guest speakers Lisa Biggin, Managing Broker, Property Manager, Barbican Property Management, Steve Storrey, Vice President, Unit Leader, BFL Canada, Alexander Faneand, Partner, Real Estate Bull Housser and Normac’s own Aaron Wittstock, Senior Manager of Insurance Appraisals and Depreciation Reports/Reserve Fund Studies.
External real estate forces such as land constraints, municipal-mandated density, and urban lifestyle desires from local buyers has led to an increase in newly constructed buildings being mixed use residential and commercial developments. This integration of uses and densification, while creating a desirable urban environment, creates a series of new issues and concerns for owners, property managers, and real estate tradespeople alike. The conversation about the challenges and solutions related to dealing with mixed use developments was insightful.
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