Concert Properties Ltd. (which is related to Concert Real Estate Corporation) is a Canadian

real estate company Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

based in

Vancouver Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the ...

British Columbia British Columbia (commonly abbreviated as BC) is the westernmost province of Canada, situated between the Pacific Ocean and the Rocky Mountains. It has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, ...

. It is owned by 19

union Union commonly refers to: * Trade union, an organization of workers * Union (set theory), in mathematics, a fundamental operation on sets Union may also refer to: Arts and entertainment Music * Union (band), an American rock group ** ''Un ...

and management

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

s and its commercial assets are valued at over $8 billion. Concert Properties is the largest developer of rental housing in

Western Canada Western Canada, also referred to as the Western provinces, Canadian West or the Western provinces of Canada, and commonly known within Canada as the West, is a Canadian region that includes the four western provinces just north of the Canada� ...

, with

properties Property is the ownership of land, resources, improvements or other tangible objects, or intellectual property. Property may also refer to: Mathematics * Property (mathematics) Philosophy and science * Property (philosophy), in philosophy and ...

in the

Greater Toronto Area The Greater Toronto Area, commonly referred to as the GTA, includes the City of Toronto and the regional municipalities of Durham, Halton, Peel, and York. In total, the region contains 25 urban, suburban, and rural municipalities. The Greater T ...

, Metropolitan Vancouver and

Victoria, British Columbia Victoria is the capital city of the Canadian province of British Columbia, on the southern tip of Vancouver Island off Canada's Pacific coast. The city has a population of 91,867, and the Greater Victoria area has a population of 397,237. Th ...

, including 7,600

home A home, or domicile, is a space used as a permanent or semi-permanent residence for one or many humans, and sometimes various companion animals. It is a fully or semi sheltered space and can have both interior and exterior aspects to it. H ...

s, 500,000 square feet of commercial space, 18

police The police are a constituted body of persons empowered by a state, with the aim to enforce the law, to ensure the safety, health and possessions of citizens, and to prevent crime and civil disorder. Their lawful powers include arrest and t ...

facilities in

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

, and three Tapestry

retirement communities A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves; however, assistance from home care agencies is allowed in some communities, and activities and socializ ...

. The company has also built 22

school A school is an educational institution designed to provide learning spaces and learning environments for the teaching of students under the direction of teachers. Most countries have systems of formal education, which is sometimes compuls ...

s in

Alberta Alberta ( ) is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to the west, Saskatchewan to the east, the Northwest Ter ...

and 18 in

Saskatchewan Saskatchewan ( ; ) is a Provinces and territories of Canada, province in Western Canada, western Canada, bordered on the west by Alberta, on the north by the Northwest Territories, on the east by Manitoba, to the northeast by Nunavut, and on t ...

. The previous

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

(CEO) and

President President most commonly refers to: *President (corporate title) *President (education), a leader of a college or university *President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ful ...

of Concert Properties was David Podmore. The current

(CEO) and

is Christine Bergeron, the former CEO of

Vancity Credit Union Vancouver City Savings Credit Union, commonly referred to as Vancity, is a member-owned financial co-operative headquartered in Vancouver, British Columbia, Canada. By asset size, Vancity is the largest community credit union in Canada , with ...

History

The Vancouver Land Corporation was co-founded in 1989 by Jack W. Poole and David R. Podmore to develop economically priced

rental housing A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a l ...

. The company's name was later changed to Greystone Properties, and then to its current name, Concert Properties. The company was created jointly by the

Provincial government A state government is the government that controls a subdivision of a country in a federal form of government, which shares political power with the federal or national government. A state government may have some level of political autonomy, ...

, the

City of Vancouver Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the most populous city in the province, the 2021 Canadian census recorded 662,248 people in the city, up from 631,486 in 2016. The ...

, and 26 union pension funds. Some media reports in 2005 indicated that Jack Poole planned for the Concert to bid on some

Olympic Games The modern Olympic Games or Olympics (french: link=no, Jeux olympiques) are the leading international sporting events featuring summer and winter sports competitions in which thousands of athletes from around the world participate in a var ...

infrastructure projects, but Poole abandoned these plans due to negative media coverage. He later died of

cancer Cancer is a group of diseases involving abnormal cell growth with the potential to invade or spread to other parts of the body. These contrast with benign tumors, which do not spread. Possible signs and symptoms include a lump, abnormal b ...

at the age of 76. In 2017, David Podmore stepped down as CEO of Concert and was replaced by Brian McCauley. McCauley left the company in 2022 and Podmore took over as Chair, President and CEO. In June 2017, Concert paid

RioCan RioCan Real Estate Investment Trust is the second-largest real estate investment trust (REIT) in Canada. It has an enterprise value of approximately $14 billion, and owns 289 primarily retail properties, with a net leasable area of 44 million ...

, another real estate company, $26.3 million for a 50%

interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct ...

in Toronto's oldest strip

plaza A town square (or square, plaza, public square, city square, urban square, or ''piazza'') is an open public space, commonly found in the heart of a traditional town but not necessarily a true geometric square, used for community gatherings. ...

, the Sunnybrook Plaza. The two companies planned to collaborate on its redevelopment. In 2018, Concert announced they would be redeveloping Coquitlam Park into 8 buildings comprising up to 2,600 housing units. The City of Coquitlam will cover half the costs, and the first phase is expected to be completed by 2023. Many

Coquitlam Coquitlam ( ) is a city in the Lower Mainland of British Columbia, Canada. Mainly suburban, Coquitlam is the List of cities in British Columbia, sixth-largest city in the province, with a population of 148,625 in 2021, and one of the 21 municipa ...

residents have expressed concern over the project and want the park to remain unchanged.{{Cite web, url=http://www.vancourier.com/real-estate/affordable-housing-worries-as-huge-coquitlam-development-moves-ahead-1.23204922, title=Affordable housing worries as huge Coquitlam development moves ahead, last=McKenna, first=Gary, date=2018-03-16, website=

Vancouver Courier The ''Vancouver Courier'' was a Canadian semi-weekly local newspaper published in Vancouver, British Columbia, Canada, by the Van-Net chain owned by Glacier Media Group. In 2007, it was Canada's largest distributed community newspaper, with a wee ...

References

1989 establishments in Canada Real estate companies of Canada Investment companies of Canada Companies based in Vancouver Home builders 1989 establishments in British Columbia Real estate companies established in 1989 Financial services companies based in British Columbia