EMILY HANNA, President, NAIOP Greater Toronto
JULY 2017 - Now that Canada’s 150th summer is officially underway, I wanted to update you on some highlights from recent and upcoming NAIOP Greater Toronto activities:
The annual Mentorship Program launched on June 20th, with a record 104 mentors and 213 DL members participating. Mentees: I encourage you to contact your Mentor matches soon and firm up your session times and locations if you haven’t already done so. Mentors: a big Thank You for your generous time commitment and participation in this unique initiative. Our annual Rookies & Rockstars event, coming up on August 17th, is also a great opportunity for DLs to reach out to seasoned veterans in the industry.
Another crowd favorite, the Development Challenge, is underway. For this year's contest a high-profile Toronto waterfront property, 351-369 Lake Shore Blvd. East, has been chosen and I look forward to this year’s innovative proposals. The competition is a unique opportunity for participating Developing Leaders and students to showcase their real estate development skills. Final judging takes place on September 26th, when a distinguished panel of judges will critique live presentations by three finalist teams.
Government Relations and Advocacy - The NAIOP Greater Toronto Chapter remains active on many files in which local policy has a direct impact on the commercial real estate industry. The desire of the City to phase out the Property Tax Rebate for vacant commercial and industrial buildings (the Vacant Unit Rebate) is a topic of great interest to our member organizations. NAIOP has taken an active role in discussions with the City and because of our work the phase-out period for the Vacant Unit Rebate will be extended so as to mitigate the impact of its ultimate elimination.
Our chapter also has taken an active role, in collaboration with REALPAC and BILD, in the City of Toronto’s review of the Development Charges Bylaw, as it relates to the non-residential DC exemption. The alteration or elimination of this exemption has significant implications for our member organizations and we will continue to keep our membership apprised of developments as they unfold. As always, we encourage your feedback on these and other topics of interest.
Our members and Industry Partners are the backbone of NAIOP Greater Toronto Chapter and we exist because of their support, participation and commitment to our organization. We appreciate the feedback received through our recently circulated survey. The Board of Directors is reviewing the results and we will continue to lay the groundwork to ensure we remain a prominent and relevant voice for commercial real estate within the GTA.
Have a safe and enjoyable summer!