We recently met with Mathieu Fleury, the Vice President of Finance at Forgestone Capital — a leading full-service Canadian real estate private equity and advisory firm with $6B dollars in management and $1B in development projects. Their featured properties can be found across Canada, from the TELUS Garden in Vancouver, BC to the 925,000 sf office tower on 777 Bay Street.
Mathieu has been an amazing advocate for us from Day 1, and using Ascend’s platform, especially our rezoning database, has helped him accelerate the process of finding promising acquisition sites that are undergoing the rezoning process.
Previously, Mathieu used the City of Toronto’s site to search for development partners and high-potential developments.
There are many problems with this approach:
We felt there must be a more intuitive way of analyzing rezoning opportunities, and built a tool that collects more than 9,000 applications and their project statistics. Armed with this new information, Mathieu benefitted from:
A holistic view of development applications in 1 click.
Instead of manually parsing through hundreds of PDFs, he’s presented with a summary of top development applications along Yonge Street according to his specifications (e.g. frontage between 100 and 300 feet, and a proposed height between 10 and 50 stories). Less time wasted doing manual research means more time doing what he does best: prioritizing high ROI acquisitions.
Application Timeline Updated Daily When You Are Asleep.
Ascend highlights how far along each application is in the process. Understanding the development timeline helps Mathieu more accurately predict cash flows and structure potential partnerships.
Understand which upcoming regions to target.
Mathieu is able to see which regions have had the highest approval rates, and for what type of developments. No more guessing or spending months deciphering the “insider perspective”.
A process that used to take 10 – 100 hours now could be done in less than 5 minutes.
Rezoning activity can take too long and become less preferable – especially given the volatile post-COVID market conditions. We’ve utilised Lidar images to capture the building footprint of every building in Toronto and referenced Toronto’s Zoning By-laws to determine properties under allowable density. Using this data-driven approach, we’ve identified hotspots within Toronto, North York, and Scarborough where new developments are possible.
There more than than 5,000 properties not built to highest and best use, waiting to be found across Vancouver and the GTA.
Request a sample of our rezoning and underutilised property database today.