Multiplex starts just passed tower starts in Toronto for the first time. Condos have stalled, and the big builders aren't structured to build on tight low-rise sites, while most GCs can't properly analyze them. That gap is the whole opportunity.
We are joined by the founders of Reside Properties Ryan & Mattison, a Toronto developer with an unusual stack: years as a general contractor, time as MPAC counsel working with planners on highest-and-best-use, and a legal background in development. They build it, they know how the city values the land, and they know where the traps are. Zero vacancy across the portfolio.
We get into the product thesis; custom-home-quality condo alternatives with dedicated entrances, separate utilities, and real millwork, and why that holds up when the market turns. Then we spend the bulk of the episode on the five ways these deals blow up:
- The contractor who wins on price and makes it back in extras
- Timeline slippage: financing, utility connections, trades, inspections
- Fantasy rents that kill your refinance
- Building the wrong units for the micro-market
- One zoning misstep that turns $30K in DCs into $200K
Plus how Reside partners with landowners, and why the hard part has permanently shifted from approvals to execution.
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