Concert Properties

Concert Properties is a privately owned Canadian real estate company headquartered in Vancouver, British Columbia. The company develops, owns, and manages rental housing and commercial real estate, with activities concentrated in British Columbia and the Greater Toronto Area. Its portfolio includes rental homes, commercial space, and redevelopment projects undertaken with public-sector and private-sector partners. The organization originated in 1989 as the Vancouver Land Corporation, co-founded by Jack W. Poole and David R. Podmore. It was established through cooperation among the provincial government, the City of Vancouver, and 26 union pension funds, with an emphasis on creating economically priced rental housing in British Columbia. The company subsequently operated under the name Greystone Properties before adopting the Concert Properties name. Concert Properties Ltd. is related to Concert Real Estate Corporation, although the available reference material does not specify the precise corporate relationship between the two entities. Concert developed a business model around long-term ownership and operation of rental housing rather than relying solely on one-time property sales. It became associated with large-scale rental housing development in British Columbia and expanded its real estate activities to the Victoria market and the Greater Toronto Area. Reference material describes the company as British Columbia's largest developer of rental housing, with approximately 7,600 homes and about 500,000 square feet of commercial space. Its commercial assets are described as being valued at more than C$8 billion, although the available source does not provide a valuation date or a detailed methodology. Leadership changed several times in the late 2010s and early 2020s. David Podmore, who had co-founded the company, stepped down as chief executive officer in 2017 and was succeeded by Brian McCauley. McCauley left the company in 2022, after which Podmore returned to leadership as chair, president, and chief executive officer. The supplied reference identifies Catherine Roome as the current president and chief executive officer, but does not provide a precise appointment date. Concert has also pursued partnership-based redevelopment. In 2017, it acquired a 50 percent interest in Toronto's Sunnybrook Plaza from RioCan for C$26.3 million, with the two companies planning to cooperate on redevelopment. In 2018, Concert announced plans to redevelop Coquitlam Park in British Columbia into a project of as many as eight buildings and up to 2,600 housing units. The Coquitlam project was described as involving municipal cost participation, with the City of Coquitlam expected to cover half of the costs and the first phase originally anticipated for completion by 2023. Concert's positioning is therefore built around institutional ownership, rental-housing development, long-term real estate investment, and collaboration with governments, pension funds, municipalities, and other property companies. It is not a consumer product brand in the conventional sense; its brand represents a real estate platform and portfolio of housing and commercial properties.

Concert Properties traces its origins to 1989, when Jack W. Poole and David R. Podmore co-founded the Vancouver Land Corporation. The organization was created through cooperation among the provincial government, the City of Vancouver, and 26 union pension funds. Its initial purpose was to support the development of economically priced rental housing in British Columbia, linking pension-fund investment with a public-interest housing objective. The company later changed its name to Greystone Properties and ultimately adopted the Concert Properties name. Over time, it developed from a Vancouver-focused housing initiative into a broader real estate platform with rental and commercial assets in British Columbia and Ontario. Its operating footprint came to include Metropolitan Vancouver, Victoria, and the Greater Toronto Area. The company became particularly identified with purpose-built rental housing and long-term ownership of residential communities. Concert Properties is described as the largest developer of rental housing in British Columbia. Reference material attributes to it a portfolio of approximately 7,600 homes and 500,000 square feet of commercial space. The same material says that its commercial assets are valued at more than C$8 billion, but does not state the applicable date or provide a detailed breakdown of the valuation. Ownership is described as resting with 19 union and management pension funds, while the company's formation involved 26 union pension funds. Leadership changes in the late 2010s marked an important phase in the company's history. Co-founder David Podmore stepped down as chief executive officer in 2017 and was replaced by Brian McCauley. During the same year, Concert expanded its Toronto activity by purchasing a 50 percent interest in Sunnybrook Plaza from RioCan for C$26.3 million. The parties stated plans to work together on redevelopment of the property, demonstrating Concert's use of joint-venture and partnership structures for commercial projects. In 2018, Concert announced a large redevelopment proposal for Coquitlam Park. The plan called for as many as eight buildings and up to 2,600 housing units. The City of Coquitlam was described as covering half of the costs, and the first phase was originally expected to be completed by 2023. The proposal reflected the company's emphasis on adding rental and residential capacity through large, municipality-linked developments. Brian McCauley left Concert in 2022. David Podmore then returned to the company in the roles of chair, president, and chief executive officer. The supplied reference material identifies Catherine Roome as the current president and chief executive officer, but does not give the date of her appointment or describe the transition from Podmore in detail. Today, Concert Properties is best understood as a Canadian institutional real estate owner, developer, and manager rather than as a conventional consumer-facing brand. Its activities center on rental housing, commercial property, and redevelopment projects. Its distinctive institutional structure, pension-fund ownership, long-term investment orientation, and collaboration with governments and other real estate companies shape its position in the Canadian property market.

• 2022

  David Podmore returns to executive leadership

  [1]Concert Propertiesen.wikipedia.org

  After Brian McCauley left the company, Podmore returned as chair, president, and chief executive officer.

• 2018

  Coquitlam Park redevelopment is announced

  [1]Concert Propertiesen.wikipedia.org

  Concert announced plans for up to eight buildings and 2,600 housing units at Coquitlam Park.

• 2017

  Brian McCauley succeeds David Podmore as CEO

  [1]Concert Propertiesen.wikipedia.org

  David Podmore stepped down as chief executive officer and Brian McCauley took over the role.

• 2017

  Concert takes a 50 percent interest in Sunnybrook Plaza

  [1]Concert Propertiesen.wikipedia.org

  Concert acquired half of Toronto's Sunnybrook Plaza from RioCan for C$26.3 million and planned a joint redevelopment.

• 1989

  Vancouver Land Corporation is founded

  [1]Concert Propertiesen.wikipedia.org

  Jack W. Poole and David R. Podmore co-founded the Vancouver Land Corporation with participation from the provincial government, the City of Vancouver, and union pension funds.

• The company adopts the Greystone Properties name

  [1]Concert Propertiesen.wikipedia.org

  The organization later operated under the name Greystone Properties before changing its name to Concert Properties.

• The company adopts the Concert Properties name

  [1]Concert Propertiesen.wikipedia.org

  The business adopted its current Concert Properties identity as it developed its rental-housing and commercial real estate platform.

An institutional, long-term real estate owner and developer emphasizing rental housing, economically priced homes, and partnership-led urban redevelopment.

• Residential real estate · 1989

  Purpose-built rental housing

  Concert's core activity is the development, ownership, and operation of rental housing. Its model emphasizes professionally managed, long-term rental communities rather than individual for-sale homes. The company has properties in Metropolitan Vancouver, Victoria, and the Greater Toronto Area, and is described as British Columbia's largest rental-housing developer.

• Commercial property

  Commercial real estate

  Concert owns and invests in commercial real estate alongside its residential portfolio. The reference material identifies approximately 500,000 square feet of commercial space and describes the company's commercial assets as worth more than C$8 billion, without specifying a valuation date.

• Mixed-use and community development

  Urban redevelopment projects

  The company participates in large-scale redevelopment projects, often with municipal or private-sector partners. Examples include the proposed Coquitlam Park transformation into a multi-building residential project and the planned redevelopment of Toronto's Sunnybrook Plaza with RioCan.

• 2018

  Announce the Coquitlam Park redevelopmentStrategy

  Background

  Concert planned a major residential redevelopment in Coquitlam, British Columbia, in cooperation with the municipality.

  Action taken

  The company announced a plan for eight buildings and up to 2,600 housing units, with the City of Coquitlam described as covering half the costs.

  Aftermath

  The initial reference projected first-phase completion in 2023 but does not document the final scope or outcome.

  Source

• 2017

  Acquire a 50 percent interest in Sunnybrook PlazaM&A

  Background

  Concert sought to expand its Toronto commercial real estate presence and participate in the redevelopment of Sunnybrook Plaza, described as Toronto's oldest strip plaza.

  Action taken

  Concert purchased a 50 percent interest from RioCan for C$26.3 million and planned to collaborate with RioCan on redevelopment.

  Aftermath

  The available reference confirms the planned partnership but does not provide subsequent redevelopment results.

  Purchase price. C$26.3 million (2017)

  Source

• 2022

  David Podmore returns to senior leadership after Brian McCauley leaves[1]Concert Propertiesen.wikipedia.org

  Leadership change

  Brian McCauley left Concert Properties, after which co-founder David Podmore returned as chair, president, and chief executive officer.

• 2018

  Concert announces Coquitlam Park redevelopment[1]Concert Propertiesen.wikipedia.org

  Other

  Concert announced a proposed redevelopment of Coquitlam Park consisting of up to eight buildings and as many as 2,600 housing units, with the City of Coquitlam described as covering half the costs.

• 2017

  Concert Properties leadership changes after David Podmore steps down as CEO[1]Concert Propertiesen.wikipedia.org

  Leadership change

  David Podmore left the chief executive role and Brian McCauley became Concert Properties' president and chief executive officer.

• 2017

  Concert Properties acquires half-interest in Sunnybrook Plaza[1]Concert Propertiesen.wikipedia.org

  M&A

  Concert Properties acquired a 50 percent interest in Toronto's Sunnybrook Plaza from RioCan for C$26.3 million. The companies planned to collaborate on redevelopment of the site.

1. 1Concert Propertiesen.wikipedia.org