We were founded on a partnership—and this commitment to working collaboratively toward shared success endures to this day. In 1989, our founders brought together union and management pension funds, private investors, the Province of British Columbia and the City of Vancouver to create much-needed rental housing on city-leased land. The idea was simple yet powerful: by uniting interests and sharing risk, more could be achieved for the community than any one group could deliver alone.
With Canada facing an unprecedented housing crisis, that principle remains just as relevant today. The need for purpose-built rental housing has never been greater—yet complex approval processes, high costs and labour shortages stand in the way of supply. No single sector can solve these challenges. The answer lies in deeper collaboration between the private sector, government and non-profits who share a commitment to long-term public benefit.
Over the decades, we have proven what is possible when this approach is embraced. In Vancouver, that initial partnership led to the creation of 970 vacancy-controlled rental homes, which we continue to manage, providing stability and affordability for residents. In Southeast False Creek, our collaboration with the city to deliver them 135 affordable rental suites in 2018 demonstrated how municipal and private partners can work together to meet urgent housing needs. More recently, working with multiple levels of government and non-profits, we delivered 170 affordable homes in 2023 between two of our rental communities: 55One in Coquitlam and 20 Samuel Wood in Etobicoke.
Concert Properties has created essential social infrastructure through partnerships that has benefitted the people and broader neighbourhoods beyond our properties, including two YMCA facilities, a community centre, five daycares, an elementary school and two community policing stations. Among other examples, our donation of services helped realize the Burn Fund Centre for the BC Professional Fire Fighters and the St. James Cottage Hospice.
Partnership is also a catalyst for creativity. It allows us to think differently, align with shared objectives and deliver positive outcomes that endure. Concert Properties will continue to advocate for and participate in partnerships that provide homes, amenities and opportunities—knowing that the right alliances are fundamental to shaping resilient, inclusive and sustainable communities across Canada.