Why Affordable Housing is Within Reach for Canadians with Mark Kenney
Play • 33 min

“It's a matter of really changing the housing strategy completely in our country and coming up with things that make more sense.” — @MKenneyCAPREIT

While there are regional variations, it’s no secret that, for many people in Canada, housing is becoming increasingly unaffordable. Today’s guest, however, believes that the answer to solving Canada’s housing crisis is right in front of us. In this episode, we sit down with Mark Kenney, President and CEO of CAPREIT, to discuss some of the policies that are driving rapidly escalating housing costs in the country and why a land lease approach is the obvious solution. Mark has nearly 30 years of experience in the multifamily sector, having previously held senior positions at Realstar Management Partnership, Greenwin Property Management, and Tridel. He is also a board member and prior chair of the Federation of Rental Housing Providers of Ontario, a board member of St. Hilda's Towers, and a founding board member of the GTAA. For those who don't know, CAPREIT is Canada's largest publicly traded provider of rental housing, which owns or has interests in nearly 67,000 residential apartment suites, townhomes, and manufactured housing community sites across Canada, the Netherlands, and Ireland. Tuning in today, you’ll get a glimpse into what the land lease model entails, who it appeals to, and why affordable housing is within reach for Canadians, so make sure not to miss this insightful conversation with CAPREIT’s Mark Kenney!

Key Points From This Episode:

  • What led Mark to the multifamily sector nearly 30 years ago and what made him stay
  • One of the most challenging parts of Mark’s career: the human tragedies he witnesses
  • The important role that a strong team played in CAPREIT’s success during COVID
  • Insight into CAPREIT’s land lease approach to affordable housing
  • A look at the 13,000 communities that offer land lease opportunities across Canada
  • Mark’s belief that land leases in rural settings are the obvious solution to the affordable housing crisis in Canada
  • Why a land lease model is especially appealing to first-time buyers, families, and retirees
  • Overcoming barriers put in place by the Planning Act and inclusionary zoning policies
  • What the next year looks like for the rental housing market with cost pressures on all fronts
  • Why Mark believes it’s time to change the housing strategy and create better solutions
  • How CAPREIT is creating safe accommodation for Ukrainian refugees, starting with shortcutting housing requirements
  • The municipal service requirements that are at the heart of Canada’s housing crisis
  • The impact of remote work and the trend towards settling in rural versus urban locations

Links Mentioned in Today’s Episode:

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