STATUS
Complete
REGION
Lower Mainland
CLIENT
Brightside Community Homes Foundation
MDS ROLE
Portfolio review and analysis
PROJECT SIZE
20 properties
MDS SERVICES PROVIDED
Municipal bylaw review
Financial modelling
Operations and asset management planning
Redevelopment sequencing
COMPLETION DATE
February 2025
Brightside Community Homes Foundation (Brightside) retained M’akola Development Services (MDS) to conduct a portfolio review of Brightside-owned and operated properties to identify potential redevelopment opportunities and a companion strategy for redeveloping or retrofitting existing assets. The Strategic Real Estate Development Plan (SRED Plan 2024) analyzes the development potential of Brightside’s portfolio in the context of new zoning and funding streams as well as opportunities for partnerships with Indigenous groups and non-profits.
The SRED Plan (2024) provides an overview of the provincial, local and neighbourhood policy context in Vancouver and Burnaby and scored 20 Brightside-owned or held properties based on their development potential. Considerations that impacted scoring included municipal policy direction, zoning, opportunity for increasing density, potential acquisitions to increase development size, and other key factors. The goal of this review was to identify a strategy for site redevelopment and retrofitting to meet Brightside’s Net Zero Strategy (2023) and to maximize the number of units within Brightside’s housing portfolio. The SRED Plan (2024) includes redevelopment and retrofit sequencing considerations based on tenant relocation strategies within Brightside’s current and future portfolio, mitigation of future repair and maintenance capital expenditures, and prioritize investment in owned assets.
Project Reference
Liam Griffin
Manager of Communications & Partnerships
