Concert Properties
{{Short description|Canadian real estate company}}
{{Infobox company
| name = Concert Properties Ltd.
| founded = 1989
| founders = {{Unbulleted list | Jack W. Poole | David R. Podmore}}
| location_city = Vancouver, British Columbia
| location_country = Canada
| area_served = Canada (British Columbia, Alberta and Ontario)
| key_people = {{Unbulleted list
| CEO and President: Christine Bergeron
| CFO: John Dooling{{Cite web|last=|first=|date=|title=Senior Executive Team|url=https://www.concertproperties.com/about/senior-executive-team|url-status=live|archive-url=https://web.archive.org/web/20170813140606/http://www.concertproperties.com:80/about/senior-executive-team |archive-date=2017-08-13 |access-date=2021-01-10|website=Concert Properties}}
}}
| industry = Real Estate and Infrastructure
| website = {{url|http://www.concertproperties.com}}
}}
File:BusinessParkCenturianDriveMarkham2.jpg
Concert Properties Ltd. (which is related to Concert Real Estate Corporation){{Cite web|title=Concert Real Estate Corporation: Private Company Information - Bloomberg|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=6528967|access-date=2018-04-29|website=www.bloomberg.com}} is a Canadian real estate company based in Vancouver, British Columbia. It is owned by 19 union and management pension funds and its commercial assets are valued at over $8 billion.
Concert Properties is the largest developer of rental housing in Western Canada,{{Cite book|url=https://archive.org/details/moneyonlineworke0000unse|url-access=registration|quote=book:Money on the Line: Workers' Capital in Canada.|title=Money on the Line: Workers' Capital in Canada|year=2003|publisher=Canadian Centre for Policy Alternatives|isbn=0886272874|pages=[https://archive.org/details/moneyonlineworke0000unse/page/143 143]}} with properties in the Greater Toronto Area, Metropolitan Vancouver and Victoria, British Columbia, including 7,600 homes, 500,000 square feet of commercial space, 18 police facilities in Ontario, and three Tapestry retirement communities.{{Cite web|last=|first=|date=|title=Learn more about Concert Properties & our history {{!}} CONCERT|url=http://www.concertproperties.com/about|url-status=live|archive-url=https://web.archive.org/web/20111123154506/http://www.concertproperties.com:80/about |archive-date=2011-11-23 |access-date=2018-04-29|website=Concert Properties|language=en}}{{Cite news|url=https://renx.ca/concert-real-estate-ceo-mccauley-podmore/|title=Changing of the guard at Concert Real Estate Corp.|date=2017-05-30|work=Real Estate News Exchange (RENX)|access-date=2018-04-29|language=en-US}}{{Cite news|url=https://renx.ca/vancouvers-concert-properties-developing-story/|title=Vancouver's Concert Properties is a developing story|date=2016-10-13|work=Real Estate News Exchange (RENX)|access-date=2018-05-09|language=en-US}} The company has also built 22 schools in Alberta and 18 in Saskatchewan.
The previous chief executive officer (CEO) and President of Concert Properties was David Podmore.{{Cite web |title=Leadership |url=https://www.concertproperties.com/about/leadership |access-date=2022-07-16 |website=Concert Properties |language=en}} The current chief executive officer (CEO) and President is Christine Bergeron, the former CEO of Vancity Credit Union.{{Cite web |title=Leadership |url=https://www.concertproperties.com/about/leadership |access-date=2023-09-13 |website=Concert Properties |language=en}}
History
The Vancouver Land Corporation was co-founded in 1989 by Jack W. Poole and David R. Podmore to develop economically priced rental housing in British Columbia. The company's name was later changed to Greystone Properties, and then to its current name, Concert Properties. The company was created jointly by the Provincial government, the City of Vancouver, and 26 union pension funds.{{Cite book|url=https://books.google.com/books?id=Gnw3DwAAQBAJ&pg=PT232&dq=Concert+Properties#q=Concert%20Properties|title=The Campbell Revolution?: Power, Politics, and Policy in British Columbia|last1=Lacharite|first1=J. R.|last2=Summerville|first2=Tracy|date=2017-11-07|publisher=McGill-Queen's Press - MQUP|isbn=9780773552340|language=en}}{{Cite book|title=Dream City: Vancouver and the Global Imagination|last=Berelowitz|first=Lance}}
Some media reports in 2005 indicated that Jack Poole planned for the Concert to bid on some Olympic Games infrastructure projects, but Poole abandoned these plans due to negative media coverage. He later died of cancer at the age of 76.
In 2017, David Podmore stepped down as CEO of Concert and was replaced by Brian McCauley.{{Cite news|url=http://www.remonline.com/brian-mccauley-named-president-ceo-concert-real-estate-corporation/|title=Brian McCauley named president and CEO of Concert Real Estate Corporation {{!}} REM {{!}} Real Estate Magazine|last=Magazine|first=REM {{!}} Real Estate|date=2017-06-21|work=REM {{!}} Real Estate Magazine|access-date=2018-04-29|language=en-US}} McCauley left the company in 2022 and Podmore took over as Chair, President and CEO. In June 2017, Concert paid RioCan, another real estate company, $26.3 million for a 50% interest in Toronto's oldest strip plaza, the Sunnybrook Plaza.{{Cite news|url=https://renx.ca/riocan-concert-toronto-sunnybrook-plaza/|title=Riocan, Concert partner on Sunnybrook Plaza project|date=2017-05-25|work=Real Estate News Exchange (RENX)|access-date=2018-04-30|language=en-US}} The two companies planned to collaborate on its redevelopment.{{Cite news|url=http://bayview-news.com/2017/05/riocan-sells-50-of-sunnybrook-plaza-to-vancouver-firm.html/|title=RioCan sells 50% of Sunnybrook Plaza to Vancouver firm|date=2017-05-25|work=The South Bayview Bulldog|access-date=2018-05-09|language=en-CA}}
In 2018, Concert announced they would be redeveloping Coquitlam Park into 8 buildings comprising up to 2,600 housing units. The City of Coquitlam will cover half the costs, and the first phase is expected to be completed by 2023. Many Coquitlam residents have expressed concern over the project and want the park to remain unchanged.{{Cite web|url=http://www.vancourier.com/real-estate/affordable-housing-worries-as-huge-coquitlam-development-moves-ahead-1.23204922|title=Affordable housing worries as huge Coquitlam development moves ahead|last=McKenna|first=Gary|date=2018-03-16|website=Vancouver Courier}}
References
Category:1989 establishments in Canada
Category:Real estate companies of Canada
Category:Investment companies of Canada
Category:Companies based in Vancouver
Category:1989 establishments in British Columbia
Category:Real estate companies established in 1989
Category:Financial services companies based in British Columbia