Canadian real estate icon David Podmore to retire

April 23, 2024, Vancouver, BC – An icon of the Canadian real estate industry, David Podmore, OBC, has announced he will retire as Chair of Concert Properties effective June 30, 2024.

The Board will name a new Chair in the coming weeks, and David will work closely with the appointee to ensure a smooth transition. On July 1, he will remain in an advisory capacity as Chair Emeritus to support the Board and Christine Bergeron, President & CEO, Concert Properties.

Over the past couple of years David has been planning his retirement and this transition. In June, David will be celebrating his 75th birthday and Concert Properties will be turning 35. The company is in excellent financial shape and experiencing tremendous growth, which is a testament to David’s leadership and lays the foundation for this important transition.

“I am confident that now is the time to step aside and entrust the company's continued success to our highly qualified and knowledgeable Board of Directors, and the experienced leadership team led by Christine,” says Podmore.

That success can be traced to 1989, when co-founder Jack Poole and Podmore began the company with an initial investment of $27.4 million and an idea decades ahead of its time – building assured rental housing on leased government land. It is an idea that is now being reconsidered by governments across the country to help address ongoing housing challenges. Since then, the company has grown to include a number of corporate entities with diversified operations across the country, with over $9 billion in assets.

"We have achieved a great deal over the years. Among our accomplishments, we have built over 13,800 homes, which include 1,450 assured and affordable homes, with approximately 9,000 more in our development pipeline. Additionally, we currently own and manage over 13 million square feet of industrial and commercial properties. Through Concert Infrastructure, we have invested in, developed and now manage 10 essential Canadian public infrastructure projects. And perhaps most importantly, we have also earned an excellent reputation. This legacy is one that I am truly proud of," says Podmore.

It is a legacy that Podmore believes is directly attributable to the company staying true to and delivering on its three founding principles.

Owners have consistently received steady returns without a loss over the last 35 years.

Additionally, the promise to only use skilled construction union labour has earned a reputation for consistently delivering award-winning quality.

And finally, the founding principle of giving back to communities has continued from day one, with many important projects supported over the years including the St. James Cottage Hospice in East Vancouver and the first-of-its-kind Burn Fund Centre in Vancouver, made possible through the company and dedicated employees volunteering their time and expertise.

This dedication to giving back has also had a substantial impact on BC and Canada, with Jack Poole, David Podmore and many other Concert Properties’ employees working tirelessly on a volunteer basis to help deliver the first successful plebiscite and the bid resulting in the 2010 Winter Olympic and Paralympic Games coming to Vancouver and Whistler.

The team also helped ensure the necessary infrastructure, including the Convention Centre West and a redeveloped BC Place, was built on time. Along with industry partners, the company has also raised and donated over $12 million to trades training institutions in BC and Ontario.

”David’s legacy is truly remarkable, not only in the impact he has had on the Canadian built landscape, but perhaps more importantly the tremendous impact he has had on so many lives. On a personal note, I am thankful for David’s trust, leadership and friendship, and am grateful for the opportunity to learn from one of the most respected icons in Canadian real estate,” says Bergeron.

In addition to retiring as Chair of Concert Properties, Podmore will also be stepping down as Chair of Concert Infrastructure Fund (CIF) at the same time. With an aggregate portfolio capitalization of $3.3 billion, CIF is an independent long-term investor, developer, and manager established 14 years ago to partner with governments to deliver critical public infrastructure assets that support essential public services that strengthen the economic and social fabric of Canadian communities.

“As we begin the next chapter of our story, our founding principles continue to guide our business, and I am confident in our future. In seaman’s talk, we have a strong and seasoned crew, the ship is well provisioned, the course is set and there are fair winds ahead. I am so very thankful for the chance to have worked with some amazing people who have shared this journey with me over the past 35 years. It has been the honour and privilege of my life to lead Concert. I will leave knowing my partner Jack would have been proud to see all that we have accomplished,” says Podmore.


About Concert Properties
Since 1989, Concert Properties has proudly been developing, acquiring and managing Canadian real estate in pursuit of building a people-first future. We develop, own and manage rental apartments and seniors’ active aging communities; develop condominium homes; and develop, acquire and manage industrial and commercial properties through our two corporate entities, Concert Real Estate Corporation and Concert Income Properties. Through Concert Infrastructure, an independent corporate entity, essential public infrastructure projects are invested in, developed and managed. We have grown to over $9 billion in assets, including $3.3 billion in infrastructure. Owned by union and management pension plans and institutional investors representing over 200,000 Canadians, our vision is to create resilient, inclusive and sustainable communities across Canada. See ConcertProperties.com for more information.

About Concert Infrastructure
Concert Infrastructure, an independent long-term investor, developer and manager, was established to partner with governments to deliver critical public infrastructure assets that support essential public services that strengthen the economic and social fabric of Canadian communities and the well-being of Canadians, while providing stable and predictable financial returns for our Canadian union and management pension plan shareholders. Concert Infrastructure is an independent corporate entity that receives discrete business support from Concert Properties through an administrative services agreement. See ConcertInfrastructure.com for more information.

Media Contact
John Corry
Director, Corporate Communications
Concert Properties