3D representation of Odea Montreal. The name of the project, Odea, is based on the Cree word “ode” meaning canoe which will explain the subtle and stylized symbol of the canoe in the architecture. (Courtesy Cogir Real Estate)
Incorporated in 1995, Cogir Real Estate employs close to 4,500 colleagues who have a passion for real estate. These individuals manage over 250 properties located in the provinces of Quebec, Ontario and Nova Scotia as well as in the United States and oversee more than 5 million square feet of commercial, industrial and office space. The residential portfolio consists of more than 27,500 housing units in Quebec, Ontario and the United States, including a network of over 50 private retirement homes.
With the constant desire to instill a human focus in the industry, to create friendly living environments and to excel every day, each effort is intended to bring purpose to real estate activities. Find out about this unique company with its many abilities.
Our first love: property management
Cogir Real Estate provides its clients with turnkey management services specifically customized to their needs. Over time, the members of our various teams have developed significant expertise in areas such as asset optimization, property repositioning or overall daily operations management. They call upon their expertise to help clients optimize the potential of their properties and to ensure tenant satisfaction, thereby maximizing occupancy.
The creation of diversified and vibrant living environments where people can feel at home is at the core of the company’s DNA. That way, Cogir’s unique business model allows it to develop and manage, under one roof, mixed-use projects that will include neighbourhood businesses, making the life of residents easier.
For example, Humaniti Montreal, the country’s very first Smart Vertical CommunityTM, combines condos, rental housing, a hotel that is part of the Autograph Collection by Marriott as well as commercial and office space. It features restaurants, a food store, a bakery and a wide range of concierge services that are designed to enhance the lifestyle of its occupants.
In cooperation with its clients, Cogir manages all the strategic and operational activities. Always on the lookout for new trends, Cogir works with its partners and offers customized, creative and efficient solutions that are tailored to the conditions of the market in which the asset is located.
Sound operating expense management is a key factor in real estate, and one of the company’s greatest strengths lies in the size of the property inventory it oversees. Due to its size and to the excellent relationship with suppliers, this advantage allows our clients to enjoy a favourable procurement plan.
Property management is a constantly changing industry. Thanks to our clients and to the various challenges they present to us, we work with them to shape the real estate sector of tomorrow. Whether it is through the use of Smart Capex, new marketing strategies or other means intended to increase asset value, there is nothing more satisfying for our team members than to see happy building owners and tenants.
What about real estate development?
That is the second thing that we are passionate about. That explains why Cogir has had its own development and construction division since 2008. It has allowed the company to control and to carry out every step involved in the process of developing and managing projects. This energizing approach enhances Cogir’s success and value creation while speeding up decision-making. Every member takes ownership of the project and endeavours to comply with the highest quality standards.
Mostra rental condos represent a fine example of an innovative project developed and managed by Cogir. This project has been designed to meet current and future rental housing needs. In addition to living in bright and functional apartments, Mostra residents can enjoy a wide range of unique services such as an electric automobile on a shared basis, a bicycle workshop, smart mailboxes, a year-round vegetable garden and a fully equipped common kitchen. Everything is at hand for them to enjoy an all-inclusive life!
This banner, inaugurated in 2017, is rapidly expanding. Greater Montreal is home to four Mostra buildings, two of which are in operation with the other two under construction. There are several more in the pipeline.
In the senior housing industry, Cogir’s recently developed the new generation of Jazz residences. It provides active retirees with all the freedom needed to enjoy the new life of their dreams in an environment that is both stimulating and reassuring.
This new generation of retirement homes offers a modern environment that represents the leading edge of the industry in North America. Among all the benefits available, residents can enjoy private wine cellar space, a choice of meal plans, the use of an electric automobile on a shared basis and Cogir’s exclusive Multi-Service Centre, providing them with access to various kinds of professionals within the building’s premises. But, beyond all these conveniences, residents are cared for by a team with deeply felt human values that works tirelessly to make each day a memorable one.
The company’s growth is speeding up with its expansion in the United States and Ontario
In 2018, the company’s great American adventure began as it partnered with Welltower to acquire four retirement homes in the State of Washington. Only a few months later, another eight residences, this time in California, were added to the portfolio. With the plan calling for a strong foothold in the United States and the wish to provide unparalleled services in line with American values, Cogir Management USA was incorporated in 2020. Currently, there are over 1,000 colleagues in this division, providing the Cogir experience every day to some 1,600 retirees in 17 Cogir Senior Living residences on the American West Coast. It is not over! There are many other acquisitions in the pipeline over the next few months. Construction projects are also being discussed.
Already quite present in Ontario’s multi-residential rental market, Cogir partnered with Fieldgate in 2020 to begin the construction of the very first retirement home under the Bloom banner. Located in Oshawa, the 201-unit retirement home has recently welcomed its first residents. In addition to Cogir’s trademark innovative conveniences and services, the property features a business model that differs from the one currently seen in most of the province’s other residences. Designed to meet the needs and wishes of active retirees, Bloom lets residents pick and choose the services they want instead of systematically including these in the lease. This approach is attractive to active retirees who wish to remain independent while living in an environment where activities and socialization opportunities are plentiful.
The Bloom banner is growing with the opening of its second residence in Stouffville a few weeks ago. A third is under construction in Lindsay, Ontario.
Another first for the company!
The announcement of this unique project, with its very strong human values, is hot off the press! Find out about Odea! This spectacular mixed-use project is the result of a partnership between CREECO, the parent company of Eeyou Eenou Realty Properties Inc. (EERP) and Cogir Real Estate. This project will rise on an Old Montreal site that has belonged to the James Bay Cree since 1995.
“We are extremely proud to work on this project with Cogir and to have our communities take part in the creation of benefits for their members and for future generations,” said Derrick Neeposh, President of the Cree Regional Economic Enterprises Company (CREECO).
Designed by Lemay Architects, in collaboration with Douglas Cardinal, the world-renowned Indigenous architect, Odea Montreal will be a 25-storey project which will include 435 residential units, 264 rental apartments and 171 condominiums for sale. The name of the project, Odea, is based on the Cree word “ode” meaning canoe, thereby explaining the subtle and stylized canoe symbol of the namesake project. The future occupants will be surrounded by bold and functional common areas, such as an artist’s studio in collaboration with the Darling Foundry art complex, green spaces, two rooftop pools, and a sky lounge.
“We are proud and honoured to work with the Cree Nation of Eeyou Istchee in a project that will become one of Montreal’s cultural and architectural landmarks. We believe Odea Montreal will be iconic in so many ways,” stated Mathieu Duguay, CEO of Cogir Real Estate.
What’s next?
Passion results in action and allows for progress with sufficient boldness to create and manage innovative projects that are solidly based.
“We are discussing many mandates and we have quite a few projects on the drawing board, in Canada as well as in the United States. Recent months have led to stronger relationships between all members of the team, and I see a bright future ahead. Together, we will keep on doing what we enjoy the most: instilling purpose in real estate,” says Mathieu Duguay.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
