SmartCentres Real Estate Investment Trust T.SRU.UN

Globe article re: Mattamy. SRU already ahead of the game

[logicandinertia]

Article in the Globe today which I highlight below which alludes to Mattamy (huge builder in the GTA) starting a new business that focuses on the need for more "vertical communities" in the GTA that combines mid-high rise housing with retail, office and public spaces.   Essentially a mirror image of what Smartcentres is already doing, except SRU already has the land and 25 years experience of dealing with zoning changes and municipal governments.  Mattamy quite rightly highlights the coming immigration, and limited new build space, therefore the need for these mixed use communities in increasingly dense neighborhoods.   To be frank, Smartcentres seems like a layup over the next 5-10 years from current levels.   Good luck...

From the Globe article:    "The new business, branded as Mattamy GTA Urban, will initially focus on creating what chief executive Brad Carr calls “vertical communities” that combine mid- and high-rise housing with retail, office and public space in the Greater Toronto Area.  Over time, Mattamy plans to expand this arm of the business. The company also operates in Ottawa, Edmonton, Calgary and 11 U.S. markets.  While Mattamy is best known for single-family homes, it has built more than 40 high-rise and multifamily home projects over the past four decades. The new urban division represents a heightened commitment to high-rise living and will initially build on land Mattamy already owns in Toronto and outlying centres such as Brampton, Mississauga and Richmond Hill – a land bank that Mr. Carr said will sustain the company for at least five years.  “Multifamily mid- and high-rise housing is a core component of future development in the GTA, as Canada’s largest urban centre looks to provide increased supply of housing and livable communities while keeping the Greenbelt intact,” Mr. Carr said in an interview.  Mattamy plans to build both condos and rental units to serve a region that is expected to see its population grow from 6.4 million to eight million by the year 2030.  “The Canadian government has made it clear that a central element of their pandemic response is going to be increased immigration, and we know that a great many of those new Canadians will want to  be in the Toronto area, which will only increase the demand for affordable homes,”