Ahead of this year’s Forty Under 40 celebrations, OBJ is sharing stories from this year’s recipients of achievements, obstacles and inspiration – as well as the lessons they’ve learned along the way.
In this group of Forty Under 40 profiles, we meet this year’s recipients from the real estate and construction sectors:
Jonathan Atwill-Morin, president, Atwill-Morin Ontario
Business: Historical building restoration
Biggest business achievement: Winning the contract for the north walls on the Centre Block rehabilitation project.
Biggest obstacle overcome: As a startup in 2003, cash management was a great obstacle. We were not capable of expanding at the pace that we wanted because of funding.
Biggest influences: As a third-generation heritage specialist, my father was by far the greatest influence in my life. Our Sunday morning talks still mean the world to me.
Biggest lesson learned during COVID-19: Take the time to stay close to all the people around you. Give a nice friendly call to a client or a partner, and make sure your employees are well.
Charitable involvement: United Way
First job: Heritage mason
Advice I’d give the younger me: Keep working! Work hard, but also smart.
Favourite pastime: Flying
Kevin Brennan, general manager, Cavanagh Concrete Ltd.
Business: Concrete forming and material supply
Biggest business achievement: Exceeded all financial targets on the MHLH Helicopter Facilities, Lansdowne Live and OLRT tunnel projects while being named the Top Value Added Salesman of the Year across Lafarge Eastern Canada in 2014.
Biggest influences: My family has continuously inspired me to challenge myself on both a business and personal level. I have also been very fortunate to be guided by strong mentors throughout my business career that have provided me opportunities to succeed.
Biggest lesson learned during COVID-19: Empathy and consistency. Understand how people react differently to fear and ensure everyone is provided sufficient resources and support to cope with it.
Charitable involvement: Royal Ottawa Foundation for Mental Health
First job: Ottawa Citizen paperboy
Advice I’d give the younger me: The results of stepping out of your comfort zone are worth it.
Favourite pastime: Golf
Sean Cochrane, president, TCC Canada
Business: Serviced offices, coworking and business support
Biggest business achievement: Grew an embattled coworking firm to a $10 million a year enterprise that’s been growing at more than 100 per cent a year for the past five years.
Biggest obstacle overcome: Bootstrapped the company while we recovered from the fallout of the 2008 real estate crash. Then pushing to grow the company tenfold over the past six years.
Biggest influences: My father. He’s one of the most genuine, hard-working people on the planet. Everything he does is to help others and I hope to be half the man he is.
Biggest lesson learned during COVID-19: Look after one another! We’re all in this together and are all so much stronger together!
Charitable involvement: Ottawa Network for Education
First job: Paper delivery boy, then worked at an auto parts factory
Advice I’d give the younger me: Never give up.
Favourite pastime: All things music!
Ken Jennings, owner, Jennings Real Estate Corp.
Business: Commercial real estate company
Biggest business achievement: Founded a commercial real estate business that now manages a diverse portfolio of properties and employs nine people.
Biggest influences: My father for instilling the values of hard work, integrity and consistency, and my mother for encouraging me to do what I enjoy and to live a balanced life.
Biggest lesson learned during COVID-19: Relationships and trust matter more than any contract.
Charitable involvement: Ottawa Heart Institute Foundation
First job: Labourer on a landscaping crew
Favourite pastime: Hockey and skiing
Sarah Lynne Howard, manager, WSP Canada Inc.
Business: Innovative, high-quality buildings
Biggest business achievement: Mobilizing and leading a team of structural engineers and technologists from offices across Canada to deliver building structures associated with a nearly $2 billion project to construct and revitalize heating and cooling plants and distribution systems in the National Capital Region.
Biggest obstacle overcome: Equal opportunity in the construction industry does not necessarily equate to an equitable experience. I challenge this social stereotype by ensuring the validation of efforts by others, lifting up the women I work with by highlighting their achievements and creating a culture of respect.
Biggest influences: My father never questioned my abilities to succeed at anything I put my mind to. Learning and creating motivates him; he’s passed that on to me.
Biggest lesson learned during COVID-19: Slow down and create space for yourself to live, apart from your identity of who you are in your business.
Charitable involvement: Canadian Ski Instructors Alliance
First job: Junior ski instructor
Advice I’d give the younger me: Life is a marathon, not a sprint.
Favourite pastime: Being outside
Jordan Latimer, operations manager, PCL Construction
Business: General contractor
Biggest business achievement: Successfully taking on progressively larger roles within the organization. Currently overseeing the management of six individual construction projects, representing total contract values of more than $550 million and generating more than $425 million in billings over the last year and a half.
Biggest obstacle overcome: Navigating a new position while concurrently leading PCL Ottawa’s COVID-19 response.
Biggest influences: My co-workers at PCL have taught me everything I know about the industry and how to navigate the various aspects of it while still having fun shaping the city’s landscape.
Biggest lesson learned during COVID-19: It’s important to be flexible when looking at ways to maintain operational excellence, personal interactions and communication.
Charitable involvement: The Royal Ottawa Foundation
First job: Paperboy for the Ottawa Citizen and lawnmower extraordinaire.
Advice I’d give the younger me: Work hard, learn as much as you can from those around you, and know that consistency and patience will pay off in the end.
Sandro Ricci, president, ASL Construction
Business: Civil construction
Biggest business achievement: Grew revenue organically by several multiples in a short period by expanding services offered and clients served, all while maintaining culture and profitability.
Biggest obstacle overcome: Guiding the transition from a small business founded in 1975 to a SME during our period of rapid growth while navigating succession planning and employee retention.
Biggest influences: Our staff inspire me to create the best possible work environment providing opportunities for them to succeed. Also, my wife and the recent birth of our first child are a constant motivation for me to strive for more.
Biggest lesson learned during COVID-19: Our philosophy of being direct and truthful with each other works. Have the hard conversations
Charitable involvement: YPO, Rideau Club, NCHCA and ASL community initiatives
First job: I started delivering newspapers before school at the age of 12 and haven’t stopped working since.
Advice I’d give the younger me: When starting your career, chase work experience, not paycheques. Focus on learning as much as you can about as much as you can.
Favourite pastime: Soccer, reading and self-supported bike trips
Connor Shea, vice-president of asset and property management, Colonnade BridgePort
Business: Real estate investment and development
Biggest business achievement: Hiring a great team and watching them flourish.
Biggest obstacle overcome: Learning my blindspots and finding ways to overcome them (thank you mentors!).
Biggest influences: My wife and my kids inspire me every day to work to make the world a better place for them.
Biggest lesson learned during COVID-19: To be flexible and to prioritize what matters most in life.
Charitable involvement: PLEO
First job: Paper route
Advice I’d give the younger me: Find ways to give back and ask as many questions as you can.
Favourite pastime: Any time with my wife, three kids and extended family together.
FCQ Launches Global Blockchain Real Estate Platform – GlobeNewswire
LUBLIN, Poland, Aug. 05, 2021 (GLOBE NEWSWIRE) — FCQPlatform.com – Investing in Spanish, Dominican, Cyprus, or any other country’s real estate has become as simple as ABC.
FCQ is a Blockchain-based platform that allows purchasing property either partially or at once. All the transactions on the platform are backed by smart contracts; thus, the assets of buyers and sellers are safe and sound.
The team’s idea is that their users should manage the FCQ platform with their help, as well as benefit from the development of their platform. For this purpose, the native FCQn token has been created. It will be available on the DEX exchanges and in the first phase it will be listed on the Uniswap exchange. The token will be deflationary. 1% of the sale of real estate and 50% of revenues from the secondary market will be allocated to the purchase of the token from the market and its burning. The token will debut in September on UNISWAP
Currently, the platform is in Beta; nonetheless, a wide variety of real estate objects from all other the globe is soon to be added.
To start investing, users do not need to possess tremendous capital. 500 USDT is enough. The minimum investment in real estate on their platform is only 500 USDT.
Each individual property is accompanied by a description of its main characteristics:
– Price of the object’s token
– Total Value
– Minimum Investment
– Annual Rate of Return
– Dividend Payment Date
– Fundraising end date
– The number of tokens available for purchase
Initially, commercial real estate that brings income without maintenance will be presented on the platform. A wide variety of objects will be introduced later on.
The platform provides opportunities for investments, and furthermore, for the subsequent resale of real estate tokens and income generation.
Take a look at the property available for investment here: https://fcqplatform.com/investments/list?page=1
Company: FCQ sp z o.o.
SOURCE: FCQ sp z o.o.
Number of Sarnia-area real estate listings drops in July – Woodstock Sentinel Review
Many homes were still selling above asking prices in the Sarnia area in July but that statistic eased slightly from the previous month, according to the Sarnia-Lambton Real Estate Board.
Many homes were still selling above their asking prices in the Sarnia area in July, but that statistic eased slightly from the previous month, according to the Sarnia-Lambton Real Estate Board.
The local market’s sales-to-list-price ratio was 104 per cent in July, compared to 108 per cent in June, the board said in its monthly release of local market statistics
“We’re definitely starting to see it shift a little bit,” said board president Rob Longo. “Not monumental shifts, just nice and steady.”
The Sarnia-area market has been seeing homes sell above the list price for some time now, and the median selling price has also been growing.
But the year-to-date median house price in the market remained at $435,000 in July, the same level as June.
“I think we’re going to start to see prices stabilize themselves rather than the huge gains we’ve had over the last couple of years,” Longo said.
“We’re still seeing a busy market.”
There has been a total of 1,223 home sales locally since the beginning of the year, for a total year-to-date sales volume of nearly $606.8 million.
But the year-to-date number of homes listed for sale dropped to 136 in July, which is a record low for that month, Longo said.
The number sat at 217 in July 2020.
The number of active listings had been moving up earlier this year, “but we’ve seen that taper off,” he said.
The easing of pandemic restrictions may be one reason, Longo said.
“People are getting out more. They can travel, they can do different things. … Maybe their focus has shifted a little bit towards that after being cooped for so long,” he said.
But the lack of homes on the market is “a complex problem to solve,” Longo added.
“It really comes down to supply. It is not enough housing supply.”
That is a widespread issue across Ontario and not just in the Sarnia area, Longo noted.
“We’re not seeing enough new housing coming on to meet the demand, which creates a domino effect,” he said.
Issues include “red tape” required for housing projects and the high cost of construction materials, Longo said.
“Sarnia-Lambton specifically, we could easily handle a significant bump in the number of new homes or new units per year,” he said.
As of July, Sarnia had issued 68 single-family home building permits for 2021. That’s already better than the total of 65 issued for all of last year.
Currently, there is just a 24-day inventory of homes listed for sale locally.
“Typically, we would like to see a 30 to 60-day inventory … and we’re just nowhere near that now,” Longo said.
Those higher levels would indicate the Sarnia area was returning to a more traditional and balanced market, he said.
The median number of days listings are on the local market sat at eight in July, compared to 14 days in July 2019.
Metro Vancouver real estate market levelling out, demand remains high – News 1130
VANCOUVER (NEWS 1130) — It’s been a hot stretch for home sales in Metro Vancouver during the pandemic but the latest numbers point to a more moderate market.
Sales in July dropped off 12 percent compared with June, according to the Real Estate Board of Greater Vancouver (REBGV)
“Moderation was the name of the game in July. Home sales and listings fell in line with typical seasonal patterns as summer got going in earnest in July. On top of moderating market activity, price growth has leveled off in most areas and home types,” says Keith Stewart, REBGV economist in a statement.
It was by no means a slow month, however, with more than 3000 sales — which is well above the 10-year average.
“Low housing supply remains a fundamental factor in Metro Vancouver’s housing market,” Stewart continues.
“Home sales remain above average and we’re starting to see price increases relent as well. Going forward, the supply of homes for sale will be among the most critical factors to watch. This will determine the next direction for house price trends.”
The composite benchmark price for residential properties in the region was $1,175,500, which was up 13.8 per cent compared to July 2020 but the same as in June of 2021. Townhouses sold the swiftest, with properties being on the market for an average of 20 days. For detached homes, the average was 30.
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