Podcasts about Greater Vancouver

***Start Your Realty Ninja Real Estate Website***Free Trial and 20% Off your first year: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/- - -

For years, one of the driving narratives in Canadian real estate was deceptively simple: population growth equals home-price growth. Between 2021-2023, that tailwind was unmistakable — massive immigration, booming temporary residents, and a swelling demand for housing fueled price rises across the country. But that story is now changing. The latest federal budget from Ottawa projects zero population growth for the first time in modern history — a signal that the era of “Demographic Alpha” may be over.In British Columbia, the October numbers underscore the shifting landscape. Home sales across the province dropped by 10% year-over-year, with only 6,370 units sold, yet the average price ticked up to $987,600 (a modest 0.8 % increase). At first glance, that may seem counter-intuitive—especially given the drop in the Greater Vancouver region, where prices actually fell 3.4%. What it reveals is a province where local dynamics are diverging: outside the Lower Mainland some markets are still inching up.Nationally, every province except Ontario is showing year-over-year price increases. Ontario is down about 2.9%, even though pockets within have seen drops of 30 % or more. Two regions — Newfoundland and the Northwest Territories — are up more than 10%. So while the broader narrative remains “prices rising,” it's the hyper-local story that matters.Let's go back to population. For decades, Canadian real estate bulls pointed to one immutable fact: we kept growing. New people meant new renters, new buyers, new demand — the structural scarcity argument. But Ottawa's policy shift is turning the page. Between 2020 and 2024, population growth was arguably the strongest single driver of housing returns: it boosted rentals, shortened vacancy, supported pre-construction profits. Now the federal government's reduced intake of permanent and temporary residents is removing that force. Growth dropping from 3% to near zero rewrites the math of valuations.The consequences are broader than real estate: GDP growth in recent years has largely been powered by population expansion. With shrinking labour-force growth and rising youth and newcomer unemployment already flagged by the Bank of Canada, housing demand will be impacted. In effect, immigration policy is now acting as a rate hike — cooling demand without touching interest rates. For investors and developers, the easy “demographic premium” is gone.Condo starts continue to collapse. New sales of condo units have tanked, and about 18 months later condo starts follow that trajectory. We're seeing new-home construction at 15-year lows, fewer jobs in building trades, fewer units coming to market. And then there's the demographic domino effect.So what does this all mean for you—or for anyone who's betting on real estate? The thesis of perpetual population-driven housing demand is under threat. Scarcity is no longer guaranteed. The fundamentals are shifting: slower growth means slower demand, longer lease-ups, muted appreciation. For developers, investors and agents alike: adaptation is key. The era of demographic tailwinds is fading. The question now is: who will stay ahead in the new chapter? _________________________________ Contact Us To Book Your Private Consultation:

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link:  https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS- - - Interest rates in Canada have dropped by more than half in the last year... but still prices are declining. In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey speak with Durham Region agent Jayden Kennedy to discuss the Canadian Housing Market. Connect with Jayden:Instagram: https://www.instagram.com/jaydenkennedyrealestate/- - -

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link:  https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS- - - Is it true that Canadians have to earn $250,000+ in order to just afford an average home? In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey discuss this "myth", Burnaby's new multiplex downgrade and much much more!Hope you had a great Halloween weekend!- - -*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS- - - In this week's episode of The Tom Storey Show, real estate buddies Steve Karrasch and Tom Storey take about mortgage fraud and the realities of both foreclosures and power of sales that are increasing across the country. Enjoy!- - -*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW

The market's not killing agents — their habits are.Let's talk about what's really driving REALTORS® out of the business and how to fix it.

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/

Ep. 105: Figuring out how to harness your story and loss to build a businessToday's episode is a special, off-schedule release in honour of Pregnancy and Infant Loss Remembrance Day.After enduring pregnancy losses, including a second-trimester miscarriage during the pandemic, Angel Leung realized she had the tools to advocate for herself—but most people don't. So she created the kind of support she wished she had: clear, compassionate, personalized care for families going through the unthinkable.In this episode, we discuss:Angel's journey through loss Pivoting from employee to entrepreneurUsing lived experience to design meaningful, heart-led offersBuilding a business from your values (not just your resume)Claiming the niche that scares you—because it matters mostParenting through grief, and what our kids can teach us about lossFULL SHOW NOTES & TAKEAWAYSRelated EpisodesEp. 95: The emotional journey of surrogacy and parenting with Stephanie Bosello  – Spotify or AppleEp. 94: How to co-regulate without losing yourself as a parent with Tracy Adams – Spotify or AppleEp. 86: How to start a consulting business as a mom: Tiffany Rosik's career pivot story – Spotify or AppleAbout Angel LeungAngel is the founder of Baby Bean Consulting, created from her passion to walk alongside parents through the heartbreak and hope of growing a family. She supports women and families navigating miscarriage, pregnancy after loss, and birth trauma — helping them feel seen and cared for when it's hardest to find support.A Registered Nurse with both clinical expertise and personal lived experience, Angel blends evidence-based care with heartfelt compassion and advocates for better understanding and support around perinatal loss.

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch

The Greater Vancouver Chamber has opened registration for the 2026 National Civics Bee®, encouraging middle school students across Southwest Washington to engage in democracy and community problem-solving. Essays are due Feb. 3, with finalists advancing to a live quiz April 20. https://www.clarkcountytoday.com/news/greater-vancouver-chamber-opens-registration-for-the-2026-national-civics-bee/ #Vancouver #CivicsBee #GreaterVancouverChamber #YouthLeadership #Education #CivicEngagement #StudentLeaders #CommunityInvolvement #SouthwestWashington #DemocracyInAction

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - Canada's productivity has collapsed and housing is next! In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey are joined by The Loonie Hour's Richard Dias of IceCap Asset Management to discover just how bad things have gotten. Connect with Richard:YouTube: https://www.youtube.com/@IceCapAssetManagementPodcast: https://www.youtube.com/@saretsky/videosSupport Richard's LIVE event in Vancouver Oct 21: https://www.eventbrite.ca/e/canadian-real-estate-global-macro-tickets-1716213644209?aff=Loonie- - -

Canada's housing market is shifting faster than the headlines suggest—and not in one direction. On paper, “affordability” is improving as prices slip and the overnight rate eases to 2.5%, taking ownership costs back toward late-2021 levels. But the market isn't responding like 2021 because confidence has fractured. Job openings fell 4.2% month-over-month, construction vacancies plunged 14.3% in a single month, and there are now more Canadians on EI (~550k) than there are job postings (~460k). That backdrop makes a million-dollar decision a hard sell. Meanwhile, the presale engine that funds future supply is sputtering: the GTA's August logged just 300 new-home sales—down 42% year-over-year and 81% below the 10-year norm—with Vancouver operating at roughly a third of typical activity. Builders are finishing what's already in the ground, but not launching new projects, setting up a delayed-impact shortage later this decade even as today's prices grind lower.Policy is tightening, too. OSFI's 2026 capital rules will stop investors from “re-using” the same rental income to qualify for multiple mortgages and will push more loans into income-producing buckets that carry higher capital charges. Combined-loan products will be treated as defaulted across the bundle if one piece fails. Translation: leverage gets harder for small investors just as institutions—REITs, pensions, private equity—face fewer practical constraints and can buy at scale. The likely result is a further professionalization of the rental market and a harder path to wealth-building via real estate for the middle class. At the same time, the long-standing premium of new-build over resale is wobbling. In the U.S., resale has flipped to price above new for the first time in decades—a signal of builder discounting, smaller product mixes, and the powerful “rate-lock” effect that traps owners in ultra-low mortgages and starves resale supply. Canada is different (shorter mortgage terms), but presale discounts and “more reasonable” launch pricing are appearing here, too.Macro currents aren't providing much lift. Housing starts fell 16.3% month-over-month to a 246k pace, with rentals (≈102k) almost matching all single-family plus condo starts—unsustainable without firmer demand and cheaper capital. BC's single-family permits have collapsed to ~45-year lows, underscoring just how thin end-user appetite is at current price points. Households remain stretched: the debt-service ratio ticked up to 14.4%, near 15-year highs for interest costs, and yet arrears improved modestly and net worth rose with equity markets—an uneasy equilibrium that doesn't restore confidence. On the ground, October stats still read “slow grind”: sales in Greater Vancouver hovered ~20% below the 10-year average, months of supply kept the market balanced, days-on-market rose for a sixth straight month, and the HPI slipped again—down ~4% from March's high and back to early-2023 levels. Add it up and you get a market in reset: prices easing, presales anaemic, credit tighter for small landlords, and starts rolling over. In this episode, we unpack what that means for buyers eyeing value, sellers recalibrating expectations, and policymakers deciding whether to intervene—or let the reset run its course. _________________________________ Contact Us To Book Your Private Consultation:

his episode is brought to you by HalloCasa, the SEO-ranked digital business card for real estate agents. Looking to find the right agent, no matter where you are?Visit https://home.hallocasa.com to discover and connect with top real estate agents globally.This time we sat down with Jeff King, CEO of Greater Vancouver REALTORS®.Jeff shares his fascinating journey from the music industry to real estate, highlighting the surprising similarities between the two worlds. We dive deep into industry disruption, the role of real estate associations, the increasing trend of clients fact-checking agents in real time, and why a growth mindset is crucial for success today.Timestamps00:01:00 – Introduction00:02:00 – Moving from Music Industry to Real Estate00:04:00 – Disruption in Real Estate vs. Music & Fintech00:06:00 – Clients Fact-Checking Agents in Real-Time00:09:00 – The Role of Associations in the Real Estate Economy00:16:00 – Importance of Growth Mindset00:18:00 – Conclusion & Final ThoughtsLearn more about Greater Vancouver REALTORS®: https://www.gvrealtors.ca/Follow Jeff:https://www.linkedin.com/in/jeffkingceo/

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS- - - Is Canadian real estate in a race to the bottom of pricing?In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey we discuss just how bad this market has become with Mike Kearns of Royal LePage. Connect with Mike: Web: https://thekearnsgroup.ca/YouTube: https://www.youtube.com/@thekearnsgroup9794/videos- - -*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW

Ben Robinson is a local Realtor serving the Greater Vancouver and Fraser Valley areas. Ben moved to Canada in 2012 and is a fellow Whiskey gent!!

On Sept. 19, Prime Minister Mark Carney's government unveiled a series of planned changes to Canada's criminal code. They, in part, crack down on the explosion of hate crimes across the country over the past two years since Oct. 7, mostly against Jewish people. The new bill is called the “Combatting Hate Act” and still has a way to go before it is passed and takes effect. Ottawa intends to make it a crime when hateful protesters try to scare and intimidate minorities, including Jews, from accessing their community buildings, including synagogues, Jewish Community Centres, Jewish seniors homes, Hebrew schools and even cemeteries. The new law would also, for the first time, outlaw the public display of the Nazi swastika and the SS symbol in Canada, as well as other terrorism signs, if the people waving them are wilfully urging hatred against an identifiable group. Many Jewish leaders are applauding the gesture as a strong signal that the Carney administration is keeping an election promise while putting a strong emphasis on fighting domestic antisemitism–that even while Canada announced on Sept. 21 it has formally recognized the Palestinian State, the government does not want to drag Middle Eastern politics onto Canadian soil. So what's in the new bill? Will it make it safer for Jews today, as the High Holidays begin? The short answer is: no. On today's episode of The CJN's _North Star _podcast, hate crimes legal expert Mark Sandler—founding chair of the Alliance of Canadians Combatting Antisemitism—joins host Ellin Bessner to break down the proposed reforms. Also joining is Ezra Shanken, CEO of the Jewish Federation of Greater Vancouver, who personally met with the prime minister in Ottawa just days before the announcement. Related links Read more reaction to the proposed changes to the Criminal Code to outlaw terror symbols and the Swastika, and better define hate and intimidation outside Jewish buildings, in The CJN. Learn more about why Canada banned the Irish band Kneecap from performing next month, in The CJN. Why B'nai Brith Canada lobbied Whitby, Ont. to agree to ban the Swastika, on The CJN Daily (now “North Star”) podcast. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS- - - How or maybe WHY did speculation run so rampant in Canadian real estate? In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey discuss what drove up home prices and if the most recent BOC interest rate cuts will help prop them up. - - -*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW

An interview with Janet Kenefsky, COO of the Greater Vancouver Chamber about Give More 24, their 24 hour fundraising campaign for local non-profits, and about the changes happening in downtown Vancouver.

B.C. is tightening the rules on short-term rentals—and Kelly Fry landed squarely in the crosshairs. In this Tale from the Trench episode, from our monthly Investors Performance Group Meeting, she walks through the investigation step by step: the notice, the documents they wanted, the timelines, and how it actually wrapped.If you host (or plan to) and AirBNB in B.C., this real-world play-by-play is a must-listen. Subscribe to the podcast and share this with Airbnb hosts in B.C. who need the heads-up.

Ep 538 - Selling Vancouver Jacquie Griffiths By Stuart McNish   “France, Hong Kong, Ireland, Mexico, Singapore, and the United States have successful Foreign Direct Investment (FDI) agencies. Canada can learn from these nations,” states a 2016 Government of Canada report called “Bringing Foreign Investment to Canada.”   The report points out Canada is trailing far behind in efforts to invite foreign companies to set up shop here, despite the benefits FDI brings. The report points out, “FDI strengthens Canadian productive capacity through knowledge transfer, the development of human capital, and new technology, management techniques, and production processes.”   According to the report, central to attracting foreign business “is a commitment at the highest political level as well as the provision of financial support and resources needed, active involvement from senior government officials, a single agency that coordinates information and services across various government offices, top-level talent, a clear investment strategy, use of a ‘concierge' service for investors, from initial contact and cultivation to assistance after the investment takes place. In the United States, the president, governors, and ambassadors are all involved in marketing and recruiting efforts.”   We invited Jacquie Griffiths, the CEO of Invest Vancouver, to join us for a Conversation That Matters about Greater Vancouver's efforts to attract foreign direct investment.   You can see the interview here https://www.conversationsthatmatter.ca/   Learn More about our guests career at careersthatmatter.ca

Ep 540 - Rental Development: Risky Business Beau Jarvis & Kerri Jackson By Stuart McNish   The rental vacancy rate in Greater Vancouver and the Fraser Valley is tight – less than one per cent, year over year. “That, on its own, puts pressure on the market driving up rental rates,” says Kerri Jackson of Concert Properties. Building new supply is a long and challenging process in a remarkably complex municipal landscape made up of 21 different jurisdictions.    Add in factors such as a decades-long shift away from purpose built rental in favour of condo developments that once sold to investors became rental properties. Beau Jarvis of Wesgroup says, “Recently, purpose-built rental housing has resurfaced as a way of easing the tight supply – a good idea, but one that developers are hard-pressed to jump onside with minimal uptake from developers.”   As of October 2024, there are minimal purpose-built rental properties throughout the Metro Vancouver and Fraser Valley region. Those properties are a step in the right direction; however, they do not come close to the volume of new projects that are required to meet demand.   We invited Kerri Jackson of Concert Properties and Beau Jarvis of Wesgroup to join us for Conversation That Matters about the value of purpose-built rentals and why it's a risky business.   You can see the interview here https://www.conversationsthatmatter.ca/   Learn More about our guests career at careersthatmatter.ca

The Greater Vancouver Chamber announced finalists for the 2025 Business & Leadership Awards, presented by Riverview Bank, with a Facebook Live ceremony and an in-person VIP Social at The Heathman Lodge on Oct. 9; categories include Start-Up to Watch, Small Business, Large Business, Statesperson, and Manufacturer of the Year, with First Citizen honorees David and Patricia Nierenberg also recognized. https://www.clarkcountytoday.com/business/greater-vancouver-chamber-announces-finalists-for-2025-business-leadership-awards/ #VancouverWA #BusinessAwards #GreaterVancouverChamber #SouthwestWashington #Leadership #SmallBusiness #ManufacturerOfTheYear #VIPSocial

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS- - - Canadian Real Estate Prices are in a FREE-FALL according to the numbers, with detached homes down 10%. But condos are only showing a 2% drop. Are the stats lying? Condos must be doing way worse than that!?!In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey discuss the current market with Waterloo Ontario agent Darryl Watty of Chestnut Park Realty. Connect with Darryl:Web: https://www.wattyway.ca/Instagram: https://www.instagram.com/thewattyway/YouTube: https://www.youtube.com/@thewattyway/videos- - - *** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - Is Canada's housing market DOOMED simply because the Youth of today would rather leave than buy a home here?In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey are joined by The Vancouver Life Real Estate Group Ryan Dash and Dan Wurtele to discuss the market and just how truly bad it is right now. Connect with Ryan and Dan:YouTube: https://www.youtube.com/@UCF9HQRIjFUzI5Tdg9dg49ww Web: https://thevancouverlife.com/- - -

This episode is brought to you by HalloCasa, the SEO-ranked digital business card for real estate agents. Looking to find the right agent, no matter where you are?Visit https://home.hallocasa.com to discover and connect with top real estate agents globally.This time we sat down with Jeff King, CEO of Greater Vancouver REALTORS®.Jeff shares his fascinating journey from the music industry to real estate, highlighting the surprising similarities between the two worlds. We dive deep into industry disruption, the role of real estate associations, the increasing trend of clients fact-checking agents in real time, and why a growth mindset is crucial for success today.Timestamps00:01:00 – Introduction00:02:00 – Moving from Music Industry to Real Estate00:04:00 – Disruption in Real Estate vs. Music & Fintech00:06:00 – Clients Fact-Checking Agents in Real-Time00:09:00 – The Role of Associations in the Real Estate Economy00:16:00 – Importance of Growth Mindset00:18:00 – Conclusion & Final ThoughtsLearn more about Greater Vancouver REALTORS®: https://www.gvrealtors.ca/Follow Jeff:https://www.linkedin.com/in/jeffkingceo/

This episode is brought to you by HalloCasa, the SEO-ranked digital business card for real estate agents. Looking to find the right agent, no matter where you are?Visit https://home.hallocasa.com to discover and connect with top real estate agents globally.This time we sat down with Jeff King, CEO of Greater Vancouver REALTORS®.Jeff shares his fascinating journey from the music industry to real estate, highlighting the surprising similarities between the two worlds. We dive deep into industry disruption, the role of real estate associations, the increasing trend of clients fact-checking agents in real time, and why a growth mindset is crucial for success today.Timestamps00:01:00 – Introduction00:02:00 – Moving from Music Industry to Real Estate00:04:00 – Disruption in Real Estate vs. Music & Fintech00:06:00 – Clients Fact-Checking Agents in Real-Time00:09:00 – The Role of Associations in the Real Estate Economy00:16:00 – Importance of Growth Mindset00:18:00 – Conclusion & Final ThoughtsLearn more about Greater Vancouver REALTORS®: https://www.gvrealtors.ca/Follow Jeff:  / jeffkingceo  

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - This week on The Tom Storey Show, Steve Karrasch and Tom Storey discuss how bad the real estate market has really become, what market stats to track into the fall and also what should be in your Residential Tenancy Agreement "Schedule A". Enjoy!- - -

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - Selling a tenanted property in Canada can be a legal disaster! So you are going to need a good lawyer. In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey speak with Zachary Soccio-Marandola, real estate lawyer in Toronto Ontario, to discuss the market, closings, tenancies and more!Connect with Zachary:Web: https://www.socciomarandola.com/Instagram: https://www.instagram.com/socciomarandola/- - -

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - This week a landslide ruling came down from the BC Supreme Court about land rights in BC and who REALLY owns you property. In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey discuss the markets in Toronto and Greater Vancouver as well as other news of the day in Canadian real estate. Enjoy!- - -

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - Alberta seemingly bucked the trend of a CRASHING Canadian real estate market... or maybe not. It now appears that Toronto investors are also loosing BIG in Calgary. In this episode of The Tom Storey Show, Steve Karrasch and Tom Storey speak with long time Calgary agent, John Hripko of Royal LePage to discuss Alberta's current market and the speculation that is now costing investors HUGE!Connect with John:Web: https://teamhripko.ca/Instagram: https://www.instagram.com/hripkoteam/YouTube: https://www.youtube.com/channel/UCaaRkAHL0jcSXQ-wmFSxLfA- - -

Welcome to Life in a Schell! I'm your host, Christina Schell. On this episode, we're diving into the topic of confidence. I call up the amazing Courtney Napper on my Schell for a beautiful conversation all about owning your confidence and stepping fully into your power. Reminder: you absolutely deserve to own your confidence. Go out there and slay, you confident badass. ❤️The featured song and musical artist on this episode is Self Control by Tess Anderson. Enjoy!Thanks for tuning in! Follow on Spotify + Apple Podcasts, share with your friends and come say hi on Instagram ⁠⁠⁠⁠⁠@christinaschell⁠⁠⁠⁠⁠ + ⁠⁠⁠⁠⁠@lifeinaschell⁠⁠⁠⁠⁠

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - Canadians got very comfortable with the idea that "real estate only goes up". Now that the market cycle has turned, many home sellers don't know what to do while home buyers avoid "catching a falling knife".In this episode of The Tom Storey Show, Steve Karrasch and Tom Storey speak with Taylor Hack, REALTOR in Edmonton Alberta to discuss his market that always seemingly does the opposite of the rest of the country. Connect with Taylor:Web: https://www.hackandco.com/Instagram: https://www.instagram.com/hackandcompany/YouTube: https://www.youtube.com/@hackcoatremaxrivercity8912/about- - -

Summer rewind: Scott Demark, President and CEO of Zibi Community Utility, joins thinkenergy to discuss how our relationship with energy is changing. With two decades of expertise in clean energy and sustainable development, Scott suggests reimagining traditional energy applications for heating and cooling. He shares how strategic energy distribution can transform urban environments, specifically how district energy systems optimize energy flow between buildings for a greener future. Listen in.   Related links   ●     Scott Demark on LinkedIn: https://www.linkedin.com/in/scott-demark-83640473/ ●     Zibi Community Utility: https://zibi.ca/ ●     Markham District Energy Inc: https://www.markhamdistrictenergy.com/ ●     One Planet Living: https://www.bioregional.com/one-planet-living ●     Trevor Freeman on LinkedIn: https://www.linkedin.com/in/trevor-freeman-p-eng-cem-leed-ap-8b612114/ ●     Hydro Ottawa: https://hydroottawa.com/en   To subscribe using Apple Podcasts: https://podcasts.apple.com/us/podcast/thinkenergy/id1465129405    To subscribe using Spotify: https://open.spotify.com/show/7wFz7rdR8Gq3f2WOafjxpl    To subscribe on Libsyn: http://thinkenergy.libsyn.com/  --- Subscribe so you don't miss a video: https://www.youtube.com/user/hydroottawalimited    Follow along on Instagram: https://www.instagram.com/hydroottawa    Stay in the know on Facebook: https://www.facebook.com/HydroOttawa Keep up with the posts on X: https://twitter.com/thinkenergypod  ---- Transcript: Trevor Freeman  00:00 Hi everyone. Well, summer is here, and the think energy team is stepping back a bit to recharge and plan out some content for the next season. We hope all of you get some much needed downtime as well, but we aren't planning on leaving you hanging over the next few months, we will be re releasing some of our favorite episodes from the past year that we think really highlight innovation, sustainability and community. These episodes highlight the changing nature of how we use and manage energy, and the investments needed to expand, modernize and strengthen our grid in response to that. All of this driven by people and our changing needs and relationship to energy as we move forward into a cleaner, more electrified future, the energy transition, as we talk about many times on this show. Thanks so much for listening, and we'll be back with all new content in September. Until then, happy listening.   Trevor Freeman  00:55 Welcome to think energy, a podcast that dives into the fast changing world of energy through conversations with industry leaders, innovators and people on the front lines of the energy transition. Join me, Trevor Freeman, as I explore the traditional, unconventional and up and coming facets of the energy industry. If you have any thoughts, feedback or ideas for topics we should cover, please reach out to us at think energy at hydro ottawa.com, Hi everyone. Welcome back one of the overarching aspects of the energy transition that we have talked about several times on this show is the need to change our relationship with energy, to rethink the standard way of doing things when it comes to heating and cooling and transportation, et cetera. This change is being driven by our need to decarbonize and by the ongoing evolution and improvement of technology, more things are becoming available to us as technology improves. On the decarbonization front, we know that electrification, which is switching from fossil fuel combustions to electricity for things like space and water heating, vehicles, et cetera, is one of the most effective strategies. But in order to switch out all the end uses to an electric option, so swapping out furnaces and boilers for heat pumps or electric boilers, switching all gas cars to EVs, et cetera, in order to do that in a way that is affordable and efficient and can be supported by our electricity grid. We need to think about multi strategy approaches, so we can't just continue to have this one way power grid where every home, every business, every warehouse or office tower satisfies all of its energy needs all the time directly from the grid with no adaptability. That isn't the best approach. It's not going to be affordable or efficient. We're not going to be able to do it fast enough. The multi strategy approach takes into account things like distributed energy resources, so solar and storage, et cetera, which we've talked about many times on this show, but it also includes approaches like district energy. So district energy is rethinking how energy flows between adjacent buildings, looking for opportunities to capture excess energy or heat from one source and use that to support another, and that is the focus of today's conversation to help us dive into this topic, I'm really happy to welcome Scott demark to the show. Scott has been a champion of sustainability, clean energy solutions and energy efficiency in the Ottawa real estate and development industry for over 20 years now, he has overseen many high performance development projects, and was one of the driving forces behind the Zibi development in downtown Ottawa, and most applicable for today's conversation the renewable district energy system that provides heating and cooling to the Zibi site. Scott is the president and CEO of the Zibi community utility, as well as a partner at Theia partners. Scott the Mark, welcome to the show. Thanks. Nice to see you. Trevor, so Scott, why don't we start with definitions are always a good place to start. So when we talk about a district energy system, give us a high level overview of what exactly that means.   Scott Demark  04:15 Sure a district energy system is, is simply the connection or interconnection of thermal energy sources, thermal energy sinks. And so really, in practical terms, it means, instead of buildings having their own furnace and cooling system, buildings connect to a hydronic loop. A hydronic loop is just pipes filled with water, and then the heat or the cooling is made somewhere else, and that heat or lack of heat cooling is in a pipe. They push the pipe to the building, and then the pipe extracts the heat, or rejects the heat to that loop. And so it's simply an interconnection of. Uh, as it forces in sinks for federal energy.   Trevor Freeman  05:03 And I guess one of the important concepts here is that buildings often create heat, not just through a furnace or not just through the things that are meant to create heat, but, you know, server racks, computer server racks, generate a lot of heat, and that heat has to go somewhere. So oftentimes we're cooling buildings to remove heat that's being created in those buildings, and then other buildings nearby need to be heated in order to make that space comfortable.   Scott Demark  05:31 Is that fair to say? Yeah, absolutely. Trevor, so, a an office building in the city of Ottawa, big old government office building, you'll see a pretty big plume on the roof in the wintertime. That's not just kind of the flue gas from a boiler, but rather it is actually chillers are running inside to make cooling, and they're just selling that heat to the atmosphere, even on the coldest day of the year. So it's people, you know, people are thermal load. Computers are thermal load, and so is solar gain. You know, January is pretty dark period for us, meaning low angle sun, but by this time in a year, you know, at the end of February, there's a lot of heat in that sun. So a glass building absorbs a lot of sun an office building will lead cooling on the sunny side of that building a lot of the time, even in the dead of   Trevor Freeman  06:18 winter, yeah. So a district system, then, is taking advantage of the fact that heat exists, and we don't necessarily need to either burn fossil fuels, or, even if it's a, you know, a clean system, we don't have to expend energy to create heat, or create as much heat if we could move that heat around from where it's kind of naturally occurring to where we need   Scott Demark  06:41 it. That's right at the very core of a district energy system. You're going to move heat from a place that it's not wanted to a place that it is wanted. And so in our example of the office building, you know, on the February day with the sun shining in and the computers all running, that building's getting rid of heat. But right next door, say, there's a 20 story condo. Well, that 20 story condo needs heating and it also needs domestic hot water. So year round, domestic hot water represents 30, 35% of the heating load of any residential building, so at all times. So a district energy system allows you to take that heat away from the office building and give it to the residential building, instead of making the heat and and dissipating that heat to the atmosphere in the office building. So, yeah, it's, it's really a way to move, you know, from sources to sinks. That's, that's what a district energy system does well.   Trevor Freeman  07:37 So we've kind of touched on this a little bit, but let's dive right into, you know, we talk a lot on the show about the energy transition this, this push to one, move away from fossil fuel combustion to meet our energy needs, and two, shifting from a kind of static, centralized energy system like we have right now, big generators, large transmission lines, et cetera, to more of a two way flow, distributed energy system. What is the role of district energy systems within that transition? How do they help us get closer to that sort of reality that we talk about?   Scott Demark  08:15 I think the biggest way that they help is economies of scale. Okay, so by that, I'll explain that. Imagine there's a lot of technology that's been around a long time that is very scalable to the building level, but most of them are fossil fire. Okay, so the the cheapest way to heat a building in Ottawa is to put a gas fired boiler in. That's the cheapest capital cost, first cost, and it's also the cheapest operating cost, is to put a gas boiler in that industry is well established. There's lots of trades who could do it. There's lots of producers who make the boilers. When you start to try and think about the energy transition and think about what you may do to be different, to be lower carbon, or to be zero carbon, those industries are, are just starting right? Those industries don't exist. They don't have the same depth, and so they don't have the same cost structure, and oftentimes they don't scale well down to the building. And therefore a district energy system aggregates a bunch of load, and so you can provide a thermal energy so at scale that becomes affordable. And that is, you know, a very good example of that would be where, you know, you might want to go and and recover heat from some process. And we'll talk about Zibi as the example. But if you want to go recover heat from some process and bring it in, it doesn't make sense to run a pipeline to a source to heat one building. You can't make financial sense of it, but if you're heating 20 buildings, that pipeline, all of a sudden makes sense to take waste heat from somewhere, to move it somewhere else. The other advantage is that truly, district energy systems are agnostic to their inputs and outputs for heat. So once you. Establish that hydronic loop, that interconnection of water pipes between buildings. What the source and what the source is doesn't matter. So you may have, at one point, built a district energy system, and Markham District Energy System is a great example of this. Markham district energy system was built on the concept of using a co generation facility. So they burned natural gas to make electricity. They sold electricity to the grid, and they captured all the waste heat from that generation, and they fed it into a district energy system. Well here we are, 20 plus years later, and they're going to replace that system, that fossil fired system Augment, not fully replaced, but mostly replace that system with a sewer coupled energy recovery and drive those heat recovery chillers to a sewer system. So they're putting a very green solution in place of a former fossil solution. They don't to rip up the pipes. They don't have to change anything in the buildings. They only have to change that central concept now, again, Markham could never do that at a one building scale. They're only that at the community scale.   Trevor Freeman  11:08 So you mentioned, I want to pick on something you said there. You talked about a sewer heat energy system. They're pulling heat from the sewer. Just help our listeners understand high level kind of, why is there heat there for us to pull like, what's the what's the source there?   Scott Demark  11:26 Yeah, so when we shower, when we flush toilets, all, all of that is introducing heat into a sewer system. So we're collecting heat from everybody's house into the sewer system. The sewer system also sits below the frost line. So call it Earth coupled. You know, it's the earth in Ottawa below the frost line sits around eight, eight and a half c and so at that temperature and the temperature of flushing toilets we we essentially get a sewer temperature in the on the coldest day of the year, but it's around 1010, and a half degrees Celsius. And obviously, for lots of the year, it's much warmer than that. And so I think, you know, a lot of people are kind of familiar with the concept of geo exchange energy, or that. Lot of people call it geothermal. But geo exchange where you might drill down into the earth, and you're taking advantage of that 888, and a half degrees Celsius. So you're exchanging heat. You can reject heat to the earth, or you can absorb heat from the earth. Well, this is the same idea, but you accept or reject from this sewer. But because the sewer is relatively shallow, it is cheaper to access that energy, and because it's warm, and on the coldest day, a couple of degrees make a big difference. Trevor and most of the years so much warmer, you're really in a very good position to extract that heat, and that's all it is. You. You are just accepting or rejecting heat. You don't use the sewage itself. It doesn't come into your building. You have a heat exchanger in between. But that's what you do.   Trevor Freeman  12:58 I agree. And we've talked before on the show about the idea that you know, for an air source, heat pump, for example, you don't need a lot of heat energy to extract energy from the air. It can be cold outside, and there is still heat energy in the air that you can pull and use that to heat a building, heat water, whatever. So same concept, except you've got a much warmer source of energy, I guess. Yeah, exactly. And you know, Trevor, when you look at the efficiency curves of those air source heat pumps, you know, they kind of drop off a cliff at minus 20. Minus 22 In fact, you know, five or six years ago, they that that was dropping off at minus 10. So we've come a long way in air source heat pumps. But imagine on that coldest, coldest day of the year, you're still your source is well above zero, and therefore your efficiency. So the amount of electricity you need to put into the heat pump to get out the heat that you need is much lower, so it's a way more efficient heat exchange. Great. Thanks for that, Scott. I know that's a bit of a tangent here, but always cool to talk about different ways that we're coming up with to heat our buildings. So back to district energy, we've talked through some of the benefits of the system. If I'm a building owner and I'm have the decision to connect to a system that's there, or have my own standalone, you know, traditional boiler, whatever the case may be, or even in a clean energy want to heat pump, whatever. What are the benefits of being on a district system versus having my own standalone system for just my building?   Scott Demark  14:30 Yeah, so when you're wearing the developers hat, you know they're really looking at it financially, if they have other goals around sustainability. Great that will factor into it, but most of them are making decisions around this financially. So it needs to compete with that. That first cost that we talked about the easiest ways, is boilers, gas fired boilers is the cheapest way. And so they're going to look to see it at how. Does this compare to that? And so I think that's the best way to frame it for you. And so the difference here is that you need to install in your building a cooling system and a heating system. In Ottawa, that cooling system is only used for a few months a year, and it's very expensive. It takes up space, whether you're using a chiller and a cooling tower on the roof, or using a dry cooler, it takes up roof space, and it also takes up interior space. If you do have a cooling tower, you have a lot of maintenance for that. You need to turn it on and turn it off in the spring, on and fall, etc, just to make sure all that happens. And you need to carry the life cycle of that boiler plant you need to bring gas infrastructure into your building. You generally need to put that gas boiler plant high in your building, so, so up near the top, and that's for purposes of venting that properly. Now, that's taking real estate, right? And it's taking real estate on the area that's kind of most advantageous, worth the most money. So you might lose a penthouse to have a boiler and chiller room up there. And you also, of course, lose roof space. And today, we really do try to take advantage of those rooftop patios and things. Amenities are pretty important in buildings. And so when I compare that to district energy at the p1 level p2 level in your building, you're going to have a small room, and I really do mean small where the energy transfer takes place, you'll have some heat exchangers. And small you might have a space, you know, 10 or 12 feet by 15 to 18 feet would be big enough for a 30 story tower. So a small room where you do the heat exchange and then Trevor, you don't have anything in your building for plant that you would normally look after. So when you look at the pro forma for owning your building over the lifetime of it, you don't have to maintain boilers. You don't have to have boiler insurance. You don't have to maintain your chillers. You don't have to have lifecycle replacement on any of these products. You don't need anybody operating, those checking in on the pressure vessels. None of that has to happen. All of that happens on the district energy system. So you're really taking something you own and operate and replacing that with a service. So district energy is a service, and what, what we promised to deliver is the heating you need and the cooling you need. 24/7 you second thing you get is more resilience. And I'll explain that a little bit. Is that in a in a normal building, if you if the engineers looked at it and said you need two boilers to keep your building warm, then you're probably going to install three. And that is kind of this n plus one sort of idea, so that if one boilers goes down, you have a spare and you need to maintain those. You need to pay for that. You need to maintain those, etc. But in district energy system, all that redundancy is done in the background. It's done by us, and we have significantly more redundancy than just n plus one in this example. But overall, you know, if you have 10 buildings on your district energy system, each of those would have had n plus one. We don't have n plus 10 in the plant. And so overall, the cost is lower, I would say, if you look at it globally, except the advantages you do have better than N plus one in the plan, so we have higher resiliency at a lower cost.   Trevor Freeman  18:26 So we know there's no such thing as a miracle solution that works in all cases. What are the the best use cases for district energy system? Where does it make a lot of sense.   Scott Demark  18:37 Yeah, in terms some, in some ways the easiest thing, spray work doesn't make sense. So, so it doesn't make sense in sprawling low rise development. So the cost of that hydronic loop, those water pipes, is high. They have to fit in the roadway. It's civil work, etc. And so you do need density. That doesn't mean it has to be high rise density. You know, if you look at Paris, France, six stories, district energy, no problem. There's there's lots and lots of customers for that scale of building. It doesn't have to be all high rise, but it does. District energy does not lend itself well to our sprawling style of development. It's much more suited to a downtown setting. It also kind of thrives where there's mixed use, you know, I think the first example we're talking about is office building shedding heat, residential building needing heat, you know, couple that with an industrial building shedding heat. You know, the these various uses, a variety of uses on a district energy system is the best because its biggest advantage is sharing energy, not making energy. And so a disparity of uses is the best place to use that, I think the other, the other thing to think about, and this is harder in Canada than the rest of the world. Is that, you know, it's harder on a retrofit basis, from a cost perspective, than it is in a in a new community where you can put this in as infrastructure, day one, you're going to make a big difference. And I'll, you know, give a shout out to British Columbia and the Greater Vancouver area. So the district, you know, down in the Lower Mainland, they, they kind of made this observation and understood that if they were going to electrify then District Energy gave economies of scale to electrify that load. And they do a variety of things, but one of the things they do is, is kind of district geo exchange systems, so, so big heat pumps coupled to big fields, and then bring heat a bunch of buildings. But these are Greenfield developments Trevor. So as they expand their suburbs, they do need to build the six stories. They very much have kind of density around parks concepts. So now Park becomes a geo field, density around the geo field, but this infrastructure is going in the same time as the water pipes. It's going in at the same time as the roads, the sidewalks, etc, you can dramatically reduce your cost, your first cost related to that hydro loop, if you're putting it in the same time you're doing the rest of the services.   Trevor Freeman  21:15 So we're not likely to see, you know, residential neighborhoods with single family homes or multi unit homes, whatever, take advantage of this. But that sort of low rise, mid rise, that's going to be more of a good pick for this. And like you said, kind of development is the time to do this. You mentioned other parts of the world. So district energy systems aren't exactly widespread. In Canada, we're starting to see more of them pop up. What about the rest of the world? Are there places in the world where we see a lot more of this, and they've been doing this for a long time?   Scott Demark  21:47 Yeah. So I'd almost say every everywhere in the northern hemisphere, except North America, has done much more of this. And you know, we really look to kind of Scandinavia as the gold standard of this. You look to Sweden, you look to Denmark, you look to Germany. Even there's, there's a lot of great examples of this, and they are typically government owned. So they are often public private partnerships, but they would be various levels of government. So you know, if you, if you went to Copenhagen, you'd see that the municipality is an owner. But then their equivalent of a province or territory is, is actually a big part of it, too. And when they built their infrastructure ages ago, they did not have an easy source of fossil fuels, right? And so they need to think about, how can we do this? How can we share heat? How can we centralize the recovery of heat? How can we make sure we don't waste any and this has just been ingrained in them. So there's massive, massive District Energy loops, interconnecting loops, some owned by municipalities, some of them probably, if you build a factory, part of the concept of your factory, part of the pro forma of your factory is, how much can I sell my waste heat for? And so a factory district might have a sear of industrial partners who own a district energy loop and interfaces with the municipal loop, all sort of sharing energy and dumping it in. And so that's, you know, that's what you would study. That's, that's where we would want to be. And the heart of it is just that, as I said, we've really had, you know, cheap or, you know, really cheap fossil fuels. We've had no price on pollution. And therefore what really hasn't needed to happen here, and we're starting to see the need for that to happen here.   Trevor Freeman  23:46 It's an interesting concept to think of, you know, bringing that factory example in, instead of waste heat or heat as a byproduct of your process being a problem that you need to deal with, something, you have to figure out a way to get rid of it becomes almost an asset. It's a it's a, you know, convenient commodity that's being produced regardless, that you can now look to sell and monetize.   Scott Demark  24:10 Yeha, you go back to the idea of, like, what are the big benefits of district energy? Is that, like, if that loop exists and somebody knows that one of the things the factory produces is heat, well, that's a commodity I produce, and I can, I can sell it if I have a way to sell it right here, you know, we're going to dissipate it to a river. We may dissipate it to the atmosphere. We're going to get rid of it. Like you said, it's, it's, it's waste in their minds, and in Europe, that is absolutely not waste.   Trevor Freeman  24:36 And it coming back to that, you know, question of, where does this make sense? You talked about mixed use, and it's also like the, you know, the temporal mixed use of someone that is producing a lot of heat during the day, when the next door residential building is empty, then when they switch, when the factory closes and the shift is over and everybody comes home from work. So that's when that building needs heat, that's when they want to be then taking that heat two buildings next to each other that both need heat at the same time is not as good a use cases when it's offset like that.   Scott Demark  25:10 Yeah, that's true. And lots of District Energy Systems consider kind of surges and storage. I know our system at CB has, has kind of a small storage system related to the domestic hot water peak load. However, you can also think of the kilometers and kilometers and kilometers of pipes full of water as a thermal battery, right? So, so you actually are able to even out those surges you you let the temperature the district energy system rise when that factory is giving all out all kinds of heat, it's rising even above the temperature you have to deliver it at. And then when that heat comes, you can draw down that temperature and let the whole district energy system normalize to its temperature again. So you do have an innate battery in the in the water volume that sits in the district energy system, very cool.   Trevor Freeman  26:04 So you've mentioned Zibi a couple of times, and I do want to get into that as much as we're talking about other parts of the world. You know having longer term district energy systems. Zibi, community utility is a great example, right here in Ottawa, where you and I are both based of a district energy system. Before we get into that, can you, just for our listeners that are not familiar with Zibi, give us a high level overview of of what that community is, its location, you know, the goals of the community, and then we'll talk about the energy side of things.   Scott Demark  26:34 Sure. So Zibi was formerly Domtar paper mills. It's 34 acres, and it is in downtown Ottawa and downtown Gatineau. About a third of the land masses is islands on the Ontario side, and two thirds of the land mass is on the shore, the north shore of the Ottawa River in Gatineau, both downtown, literally in the shadows of Parliament. It is right downtown. It was industrial for almost 200 years. Those paper mills shut down in the 90s and the early 2000s and my partners and I pursued that to turn it from kind of this industrial wasteland, walled off, fenced off, area that no one could go into. What we're hoping will be kind of the world's most sustainable urban community, and so at build out, it will house, you know, about six, 7000 people. It will be four and a half million square feet, 4.24 point 4, million square feet of development. It is master planned and approved and has built about, I think we're, at 1.1 million square feet. So we're about quarter built out now. 10 buildings are done and connected to the district energy system there. And really, it's, it's an attempt to sort of recover land that was really quite destroyed. You can imagine it was a pretty polluted site. So the giant remediation plan, big infrastructure plan, we modeled this, this overall sustainability concept, over a program called one planet living which has 10 principles of sustainability. So you know, you and I are talking a lot about carbon today, but there's also very important aspects about affordability and social sustainability and lifestyle, and all of those are incorporated into the one planet program, and encourage people to look up one planet living and understand what it is, and look at the commitments that we've made at CV to create a sustainable place. We issue a report every year, kind of our own report card that's reviewed by a third party, that explains where we are on our on our mission to achieve our goal of the world's most sustainable   Trevor Freeman  28:57 community. Yeah. And so I do encourage people to look at one planet living. Also have a look at, you know, the Zibi website, and it's got the Master Plan and the vision of what that community will be. And I've been down there, it's already kind of coming along. It's amazing to see the progress compared to who I think you described it well, like a bit of an industrial wasteland at the heart of one of the most beautiful spots in the city. It was really a shame what it used to be. And it's great to see kind of the vision of what it can become. So that's awesome.   Scott Demark  29:26 Yeah, and Trevor, especially now that the parks are coming along. You know, we worked really closely with the NCC to integrate the shoreline of ZV to the existing, you know, bike path networks and everything. And, you know, two of the three shoreline parks are now completed and open to the public and and they're stunning. And, you know, so many Ottawa people have not been down there because it's not a place you think about, but it's one of the few places in Ottawa and Gatineau where you can touch the water, you know, like it's, it's, it's stunning. Yeah, very, very cool.   Trevor Freeman  29:57 Okay, so the. The the next part of that, of course, is energy. And so there is a district energy system, one of the first kind of, or the most recent big energy. District Energy Systems in Ottawa. Tell us a little bit about how you are moving energy and heating the Zibi site.   Scott Demark  30:17 Yeah. So, first I'll say, you know, we, we, we studied different ways to get to net zero. You know, we had, we had a goal of being a zero carbon community. There are low carbon examples, but a zero carbon community is quite a stretch. And even when you look at the Scandinavian examples, the best examples, they're missing their they're missing their energy goals, largely because some of the inputs that are District Energy System remain fossil, but also because they have trouble getting the performance out of the buildings. And so we looked at this. We also know from our experience that getting to zero carbon at the building scale in Ottawa is very, very difficult. Our climate's tough, super humid, super hot summer, very cold, very dry, winter, long winter. So it's difficult at the building scale. It's funny Trevor, because you'd actually have an easier time getting to zero carbon or a passive house standard in affordable housing than you do at market housing, and that's because affordable housing has a long list of people who want to move in and pay rents. You can get some subsidies for capital, and the people who are willing to pay rent are good with smaller windows, thicker walls, smaller units, and pass trust needs, all those kinds of things. So when down at Zibi, you're really selling views. You're competing with people on the outside of Zibi, you're building almost all glass buildings. And so it's really difficult to find a way to get to zero carbon on the building scale. So that moved us to district energy for all the reasons we've talked about today already. And so when we looked at it for Zibi, you really look at the ingredients you have. One of the great things we have is we're split over the border. It's also a curse. But split over the border is really interesting, because you cannot move electricity over that border, but you can move thermal energy over that border. And so for us, in thinking about electrifying thermal energy, we realized that if we did the work in Quebec, where there is clean and affordable electricity, we could we could turn that into heat, and then we could move heat to Ontario. We could move chilled water to Ontario. So that's kind of ingredient, one that we had going for us there. The second is that there used to be three mills. So originally, don't target three mills. They sold one mill. It changed hands a few times, but It now belongs to Kruger. They make tissue there so absorbent things, Kleenexes and toilet paper, absorbent, anything in that tissue process. That's a going concern. So you can see that on our skyline. You can see, on cold days, big plumes of waste heat coming out of it. And so we really saw that as our source, really identified that as our source. And how could we do that? So going back to the economies of scale, is could we send a pipeline from Kruger, about a kilometer away, to Zibi? And so when we were purchasing the land, we were looking at all the interconnections of how the plants used to be realized. There's some old pipelines, some old easements, servitudes, etc. And so when we bought the land, we actually bought all of those servitudes too, including a pipeline across the bridge. Canadian energy regulator licensed across the bridge into Ontario. And so we mixed all these ingredients up, you know, in a pot and came up with our overall scheme. And so that overall scheme is is relatively simple. We built an energy recovery station at Kruger where, just before their effluent water, like when they're finished in their process, goes back to the river. We have a heat exchanger there. We extract heat. We push that heat in a pipe network over to Zibi. At Zibi, we can upgrade that heat using heat recovery chillers to a useful temperature for us, that's about 40 degrees Celsius, and we push that across the bridge to Ontario, all of our buildings in Ontario then have fan coil units. They use that 40 degree heat to heat buildings. The return side of that comes back to Quebec. And then on the Quebec side, we have a loop. And all of our buildings in the Quebec side then use heat pumps so we extract the last bit of heat. So imagine you you've returned from a fan coil, but you're still slightly warm. That slightly warm water is enough to drive a heat pump inside the buildings. And then finally, that goes back to Kruger again, and Kruger heats it back up with their waste heat and comes back. So that's our that's our heating loop. The cooling side is coupled to the Ottawa River. And so instead of us, we. Rejecting heat to the atmosphere through cooling towers. Our coolers are actually coupled to the river. That's a very tight environmental window that you can operate in. So we worked with the Ministry of the Environment climate change in Quebec to get our permit to do it. We can only be six degrees difference to the river, but our efficiency is on average, like on an annual basis, more than double what it would be to a cooling tower for the same load. So we're river coupled, with respect to cooling for the whole development, and we're coupled to Kruger for heating for the whole development. And what that allows us to do is eliminate fossil fuels. Our input is clean Quebec electricity, and our output is heating and cooling.   Trevor Freeman  35:44 So none of the buildings, you know, just for our listeners, none of the buildings have any sort of fossil fuel combustion heating equipment. You don't have boilers or anything like that. Furnaces in these in these buildings?   Scott Demark  35:54 No boilers, no chillers, no. that's awesome. And   Trevor Freeman  35:58 That's awesome. And just for full transparency, I should have mentioned this up front. So the Zibi community utility is a partnership between Zibi and Hydro Ottawa, who our listeners will know that I work for, and this was really kind of a joint venture to figure out a different approach to energy at the Zibi site.   Scott Demark  36:16 Yeah, that's right. Trevor, I mean the concept, the concept was born a long time ago now, but the concept was born by talking to hydro Ottawa about how we might approach this whole campus differently. You know, one of hydro Ottawa companies makes electricity, of course, Chaudière Falls, and so that was part of the thinking we thought of, you know, micro grids and islanding this and doing a lot of different things. When Ford came in, and we were not all the way there yet, and made changes to Green Energy Act, it made it challenging for us to do the electricity side, but we had already well advanced the thermal side, and hydro, you know, hydro makes a good partner in this sort of thing, when a when a developer tells someone, I'd like you to buy a condo, and by the way, I'm also the district energy provider that might put some alarm bells up, but you put a partnership in there with a trusted, long term utility partner and explain that, you know, it is in the in the public interest. They're not going to jack rates or mess with things, and then obviously just hydro has had such a long operating record operating experience that they really brought sort of an operations and long term utility mindset to our district energy system.   Trevor Freeman  37:35 So looking at a system like the Zippy community utility or other district energy systems. Is this the kind of thing that can scale up over time? And, you know, I bring this up because you hear people talk about, you know, a network of district energy systems across a city or across a big geographic area. Are these things that can be interconnected and linked, or does it make more sense as standalone district energy systems in those conditions that you talked about earlier.   Scott Demark  38:06 Very much the former Trevor like and that's, you know, that's where, you know, places like Copenhagen are today. It's that, you know, there was, there was one district energy system, then there was another, then they got interconnected, then the third got added. And then they use a lot of incineration there in that, in that part of the world, clean incineration for garbage. And so then an incinerator is coming online. And so that incinerators waste heat is going to be fed with a new district energy loop, and some other factory is going to use the primary heat from that, and then the secondary heat is going to come into the dictionary system. Disciplinary system. So these things are absolutely expandable. They're absolutely interconnectable. There are temperature profiles. There's modern, modern thoughts on temperature profiles compared to older systems. Most of the old, old systems were steam, actually, which is not the most efficient thing the world. But that's where they started and so now you can certainly interconnect them. And I think that the example at Zibi is a decent one, because we do have two kinds of systems there. You know, I said we have fan coil units in in the Ontario side, but we have heat pumps on the other side. Well, those two things, they can coexist, right? That's there. Those two systems are operating together. Because the difference, you know, the difference from the customer's perspective in those two markets are different, and the same can be true in different parts of the city or when different sources and sinks are available. So it is not one method of doing district energy systems. What you do is you examine the ingredients you have. I keep saying it, but sources and sinks? How can I look at these sources and sinks in a way that I can interconnect them and make sense? And sometimes that means that a source or a sink might be another district energy system.   Trevor Freeman  39:59 Yeah. Yeah, yeah, systems that maybe work in parallel to each other, in cooperation with each other. Again, it's almost that temporal need where there's load high on at one point in time and low on the other point in time. Sharing is a great opportunity.   Scott Demark  40:14 Yeah, absolutely great.   Trevor Freeman  40:17 Okay, last question for you here, Scott, what is needed, maybe from a regulatory or a policy lens to encourage more implementation of district energy systems. How do we see more of these things happen here in Canada or in   Scott Demark  40:32 North America? The best way to put this, the bureaucracy has been slow to move, is, is what I'll say, and I'll use Zibi as that example. When we, when we pitched the district energy system at Zibi, we had to approach the City of Ottawa, and we had to approach the city of Gatineau, the City of Ottawa basically said to us, No, you can't put those in our streets. Engineering just said, no, no, no, no. And so what we did at Zibi is we actually privatized our streets in order to see our vision through, because, because Ottawa wasn't on board, the city of Gatineau said, Hmm, I'm a little worried. I want you to write protocols of how you will access your pipes, not our pipes. I want to understand where liability ends and starts and all of this kind of stuff. And we worked through that detail slowly, methodically, with the city of Gatineau, and we came to a new policy on how district energy could be in a public street and Zibi streets are public on the Gatineau side today. You know, come forward 10 years here, and the City of Ottawa has a working group on how to incorporate District Energy pipes into streets. We've been able to get the City of Ottawa to come around to the idea that we will reject and accept heat from their sewer. You know, hydro Ottawa, wholly owned company of the City of Ottawa, has an active business in district energy. So Trevor, we've come really far, but it's taken a long time. And so if you ask me, How can we, how can accelerate district energy, I think a lot of it has to do with the bureaucracy at municipalities. And you know, we're we see so much interest from the Federation of Canadian municipalities, who was the debt funder for ZCU. We have multiple visits from people all over Canada, coming to study and look at this as an example. And I'm encouraged by that. But it's also, it's also not rocket science. We need to understand that putting a pipe in a street is kind of a just, just a little engineering problem to solve, whereas putting, you know, burning fossil fuels for these new communities and putting in the atmosphere like the genies out of the bottle, right? Like and unfortunately, I think for a lot of bureaucrats, the challenge at the engineering level is that that pipe in the street is of immediate, complex danger to solving that problem, whereas it's everybody's problem that the carbons in the atmosphere. So if we could accelerate that, if we could focus on the acceleration of standards around District Energy pipes and streets, the rights of a district energy company to exist, and not to rant too much, but give you an example, is that a developer is required to put gas infrastructure into a new community, required, and yet you have to fight to get a district energy pipe in the street. So there needs to be a change of mindset there, and, and we're not there yet, but that's where we need to go.   Trevor Freeman  43:54 Yeah. Well, the interesting, you know, in 10 years, let's talk again and see how far we come. Hopefully not 10 years. Hopefully it's more like five, to see the kind of change that you've seen in the last decade. But I think that the direction is encouraging. The speed needs a little bit of work. But I'm always encouraged to see, yeah, things are changing or going in the right direction, just slowly. Well, Scott, we always end our interviews with a series of questions to our guests, so as long as you're okay with it, I'll jump right into those. So the first question is, what is a book you've read that you think everybody should read?   Scott Demark  44:29 Nexus, which is by Harari. He's the same author that wrote sapiens. Lots of people be familiar with sapiens. And so Nexus is, is really kind of the history of information networks, like, how do we, how do we share and pass information? And kind of a central thesis is that, you know, information is, is neither knowledge nor truth. It is information, and it's talking a lot about in the age of AI. Uh, how are we going to manage to move information into truth or knowledge? And I think it, you know, to be honest, it kind of scared the shit out of me reading it kind of how, how AI is impacting our world and going to impact our world. And what I thought was kind of amazing about it was that he, he really has a pretty strong thesis around the erosion of democracy in this time. And it's, it was, it was really kind of scary because it was published before the 2024 election. And so it's, it's really kind of a, both a fascinating and scary read, and I think really something that everybody should get their head around.   Trevor Freeman  45:47 It's, yeah, there's a few of those books recently that I would clear or classify them as kind of dark and scary, but really important or really enlightening in some way. And it kind of helps you, you know, formalize a thought or a concept in your head and realize, hey, here's what's happening, or gives you that kind of the words to speak about it in this kind of fraught time we're in. So same question, but for a movie or a show, is there anything that you think everybody should watch.   Scott Demark  46:16 That's harder, I think, generally from watching something, it's for my downtime or own entertainment, and pushing my tastes on the rest of the world, maybe not a great idea. I if I, if I'm, if I'm kind of doing that, I tend to watch cooking shows, actually, Trevor so like, that's awesome. I like ugly, delicious. I love Dave Chang. I like, I like mind of a chef creativity partnership. So those kind of things I'd say more so if there was something to like that, I think somebody else should, should watch or listen to, I have, I have a real love for Malcolm Gladwell podcast, revisionist history. And so if I thought, you know, my watching habits are not going to going to expand anybody's brain, but I do think that Malcolm's perspective on life is really a healthy it's really healthy to step sideways and look at things differently. And I would suggest, if you have never listened to that podcast. Go to Episode One, season one, and start there. It's, it's, it's fantastic.   Trevor Freeman  47:26 Yeah, I agree. I'll echo that one. That's one of my favorites. If we were to offer you or not, but if we were to offer you a free round trip flight, anywhere in the world, where would you go?   Scott Demark  47:38 That's hard, so much flight guilt. You know.   Trevor Freeman  47:42 I know it's a hard assume that there's carbon offset to it.   Scott Demark  47:47 It's an electric plane.   Trevor Freeman  47:48 That's right, yeah.s   Scott Demark  47:49 My family, had a trip planned in 2020 to go to France and Italy. My two boys were kind of at the perfect age to do that. It would have been a really ideal trip. And so I've still never been to either those places. And if I had to pick one, probably Italy, I would really like to see Italy. I think it would be a fantastic place to go. So probably, probably Italy.   Trevor Freeman  48:12 My favorite trip that I've ever done with my wife and our six month old at the time was Italy. It was just phenomenal. It was a fantastic trip. Who's someone that you admire?   Scott Demark  48:25 I have a lot of people. Actually have a lot of people in this in this particular space, like, what would I work in that have brought me here to pick to pick one, though I'd probably say Peter Busby. So. Peter Busby is a mentor, a friend, now a business partner, but, but not earlier in my career. Peter Busby is a kind of a one of the four fathers, you know, if you will, of green design in Canada. He's an architect, Governor General's Award winning architect, actually. But I think what I what I really, really appreciate about Peter, and always will, is that he was willing to stand up in his peer group and say, Hey, we're not doing this right. And, you know, he did that. He did that in the early 80s, right? Like we're not talking he did it when it cost his business some clients. He did it when professors would speak out against him, and certainly the Canadian Association of architecture was not going to take any blame for the shitty buildings that have been built, right? And he did it, and I remember being at a conference where Peter was getting a Lifetime Achievement Award from the Canadian architects Association. And so he's standing up, and people are all super proud of him. They're talking about his big life. And he. He, he, he kind of belittled them all and said, You're not doing enough. We're not doing enough like he's still he's still there. He's still taking the blame for where things are, and that things haven't moved fast enough, and that buildings are a massive part of our carbon problem, and probably one of the easier areas to fix. You know, we're talking about electric planes. Well, that's a that's a lot more difficult than it is to recover energy from a factory to heat a community, right? I admire him. I learned things from him all the time. He's got a great book out at the moment, actually, and, yeah, he'd be right up there on my in my top list, awesome.   Trevor Freeman  50:44 What is something about the energy sector or its future that you're particularly excited about?   Scott Demark  50:48 You wished you asked me this before the election. I'm feeling a little dark. Trevor, I think there needs to be a price on pollution in the world needs to be a price on pollution in America, in Canada, and I'm worried about that going away. In light of that, I'm not I'm not super excited about different technologies at the moment. I think there are technologies that are helping us, there are technologies that are pushing us forward, but there's no like silver bullet. So, you know, a really interesting thing that's coming is kind of this idea that a small nuclear reactor, okay, very interesting idea. You could see its context in both localized electricity production, but all the heat also really good for district entry, okay, so that's an interesting tech. It obviously comes with complications around security and disposal, if you like, there's our nuclear industry has been allowed to drink like, it's all complicated. So I don't see one silver bullet in technology that I'm like, That's the answer. But what I do see, I'll go back to what we were talking about before is, you know, we had to turn this giant ship of bureaucracy towards new solutions. Okay, that's, that's what we had to do. And now that it's turned and we've got it towards the right course, I'm encouraged by that. I really am. You know, there are champions. And I'll, I'll talk about our city. You know, there's champions in the City of Ottawa who want to see this happen as younger people have graduated into roles and planning and other engineering roles there. They've grown up and gone to school in an age where they understand how critical this climate crisis is, and they're starting to be in positions of power and being in decision making. You know, a lot of my career, we're trying to educate people that there was a problem. Now, the people sitting in those chairs, it, they understand there's a problem, and what can they do about it? And so I am, I am excited that that the there is a next generation sitting in these seats, making decisions, the bureaucracy, the ship is, is almost on course to making this difference. So, so I do think that's encouraging. We have the technology. We really do. It's not rocket science. We just need to get through, you know, the bureaucracy barriers, and we need to find ways to properly finance it.   Trevor Freeman  53:22 Great. I think that's a good place to wrap it up. Scott, thanks so much for your time. I really appreciate this conversation and shedding a little bit of light, not just on the technical side of district energy systems, but on the broader context, and as you say, the bureaucracy, the what is needed to make these things happen and to keep going in that right direction. So thanks a lot for your time. I really appreciate it.   Scott Demark  53:43 Thank you, Trevor, good to see you.   Trevor Freeman  53:45 All right. Take care.   Trevor Freeman  53:47 Thanks for tuning in to another episode of the think energy podcast. Don't forget to subscribe. Wherever you listen to podcasts, and it would be great if you could leave us a review. It really helps to spread the word. As always, we would love to hear from you, whether it's feedback, comments or an idea for a show or a guest, you can always reach us at thinkenergy@hydroottawa.com.

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - Canada truly is the land of opportunity, but with great opportunity come great expense... in real estate. In this week's episode of The Tom Storey Show, Steve Karrasch and Tom Storey speak with the CEO of the BCREA Trevor Koot to discuss all things Canadian Real Estate. - - -

**Start Your Realty Ninja Website** Free Trial: https://www.realtyninja.com/tomBook a call w/Tom for Toronto: https://calendly.com/TomStoreyBook a call w/Steve for Greater Vancouver: https://calendly.com/stevekarrasch** Book your home inspection right now with Carson Dunlop ** https://carsondunlop.com/*** Need Home or Property Insurance? *** Use SQUARE ONE: Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/thetomstoreyshow?offer_code=TTSS*** Ontario Agents! Get Your Custom Branded TRESA Explainer Video TODAY! ***Order Here: https://tresavideo.ca/Promo Code: TOMSHOW- - - In the Summer of 2025, real estate Seller's across the country are rejecting offers from Buyers, but many of them regret that decision only weeks later. In this episode of The Tom Storey Show, Steve Karrasch and Tom Storey discuss the Canadian Housing Market at the half way point of the year. Enjoy!- - -

The Greater Vancouver Chamber has opened nominations for its 2025 First Citizen Award, celebrating long-term civic and business leadership in Southwest Washington. Nominations are due by August 14, and the winner will be honored this fall at the Chamber's Business & Leadership Awards. https://www.clarkcountytoday.com/news/greater-vancouver-chamber-opens-nominations-for-the-2025-first-citizen-award/ #FirstCitizenAward #VancouverWA #CommunityLeadership #GreaterVancouverChamber #ClarkCounty #CivicEngagement #JohnMcDonagh #BusinessAwards #Philanthropy #Leadership

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In this week's Vancouver real estate update, we dive into the latest data and indicators painting a complex picture of the market. We start with the Housing Affordability Index, a measure of median household income against mortgage payments, taxes, and utilities. According to this index, Canadian homes have never actually been considered affordable—not once in the last 40 years. The most affordable period came in the late 1990s, when the metric dipped to 34%, just shy of the “ideal” target of 33%. Today, affordability sits at 55%. While that's a meaningful improvement from the record high of 63.5% in Q4 2023, it still remains well above the threshold of sustainable home ownership.Interestingly, Canadian affordability is now at the same level it was in 1990—just before a decade-long improvement in affordability followed. Whether or not that trend repeats remains to be seen. RBC's latest forecast doesn't think so. They project affordability will bottom later this year around 52%, then begin worsening again in 2026.On the inflation front, May CPI came in at 1.7%, unchanged from April. This marks the 18th consecutive month within the Bank of Canada's 1–3% target range. Core inflation registered at 2.9%, the upper end of the band but still acceptable. Mortgage interest costs remain a key driver, adding 0.4% to the CPI. It's important to note that most other countries exclude mortgage interest from their inflation basket. Without it, Canada's inflation would have been closer to 1.3%. Rented accommodations contributed 0.3%, but StatsCan's data appears to lag. While they report rents up 4.3% annually, Rentals.ca shows a 3.3% decline in the last year. Turning to interest rate expectations: markets are only pricing in a 30% chance of a rate cut at the July 30th Bank of Canada meeting. And as of now, there is just one more rate cut expected for the remainder of 2025. That outlook has cooled considerably, given earlier projections of more aggressive easing.Now to the July 2025 housing stats. Total home sales in Greater Vancouver hit 2,186 units in June, down 9.5% from last year and a staggering 26% below the 10-year average. It was the second slowest June on record—worse than the Global Financial Crisis and COVID shutdowns. This follows what was already the slowest May on record. The spring market never materialized, and current indicators suggest a muted summer and fall ahead.New listings reached 6,301 in June, up 10% year-over-year but down 5% from May. Inventory sits at 16,852 active listings, down 1% month-over-month but still 19% higher than a year ago and 44% above the 10-year average. At the time of reporting, inventory has climbed to over 18,200 active listings. The Sales-to-Active-Listings ratio remains at 13%—signaling a balanced market—for the 13th straight month. Detached homes are at 10%, townhomes at 17%, and condos at 14%.Prices continue to slide. The Home Price Index (HPI) dropped for the third straight month in 2025, down 0.3% month-over-month to $1,173,100. That puts prices 2.8% lower than one year ago. The median price stayed flat at $985,000, but remains up $70,000 year-to-date. The average price rose $9,000 to $1,275,000, its highest point in 2025, and up $68,000 YTD.The Vancouver housing market remains stable but sluggish and perhaps increasingly so. Affordability is slowly improving but remains historically poor _________________________________ Contact Us To Book Your Private Consultation:

In this week's episode, we're diving deep into one of the most dramatic real estate stories in Canadian history — the Fraser Valley housing boom and bust. During the COVID-era market frenzy, the Fraser Valley became a magnet for buyers looking to escape the city. Between 2020 and 2022, prices in cities like Abbotsford skyrocketed, with the average home price doubling from $500,000 to over $1 million in just two years. Fueled by low interest rates, remote work freedom, and the desire for more space at a better price, the Valley quickly became one of the fastest-appreciating regions in the country.But the surge didn't last.Since the Bank of Canada began raising interest rates in 2022, the Fraser Valley has undergone a rapid reversal. With interest rates now hovering around 5%, the market has softened dramatically, and prices are down approximately 25% from peak levels. In this episode, we're joined by Fraser Valley real estate advisor Conor Kelly, who walks us through the highs, lows, and what's next for this once red-hot market. From forced sales and shrinking equity to renewed commuting realities and a cooling demand, we explore how some homeowners are being pushed to sell at a loss and leave the Valley altogether.We begin by setting the stage with a look at the Fraser Valley before the pandemic. What was this market like pre-2020? And how did it shift so aggressively once the pandemic hit? Conor shares his on-the-ground insights into the feeding frenzy that took hold between 2020 and 2022, as well as how quickly sentiment shifted when interest rates started climbing.Next, we bring things to the present. The Greater Vancouver market is facing high inventory, slowing sales, and flat-to-declining prices — but is the Fraser Valley operating on a similar trajectory, or is it behaving independently? Conor compares the two markets and helps us understand how local dynamics, migration trends, and economic pressures are shaping today's Valley.We also explore an issue that's starting to impact the entire province — population decline. For the first time outside of pandemic anomalies, BC recorded a population contraction. And while Vancouver grabs the headlines, Conor breaks down how this trend is unfolding in the Valley and what it could mean for long-term demand.Then we turn to the pre-sale market, a sector facing serious challenges in Vancouver and Toronto, where developer bankruptcies and collapsing buyer confidence are freezing future supply. How is the pre-construction market faring in the Valley? Are developers hitting pause, or is there opportunity for those with longer timelines?Finally, we look ahead. What does Conor think is in store for the Fraser Valley over the next few years? Will prices rebound? Will affordability improve? And what should buyers or potential movers know before deciding to make the Valley their home?Whether you're a buyer, seller, investor, or just curious about where BC's real estate market is headed, this episode offers critical insights into one of the most volatile and revealing markets in the country. Don't miss this one — hit play to hear what's really going on in the Fraser Valley. _________________________________ Contact Us To Book Your Private Consultation:

Friday May 2 has been declared an official day of remembrance and mourning in British Columbia after last weekend's horrific attack on a Filipino cultural festival in Vancouver. To date, 11 people died and dozens more remain wounded after a 30-year-old man drove an SUV into a crowd at the city's Lapu Lapu festival on April 26. The suspect has been charged with multiple counts of second-degree murder, but the investigation continues. Leaders of the Filipino community say they feel deeply touched by the heartfelt outreach and solidarity being shown by Canadian Jewish groups. In Vancouver, Jewish residents have mounted prayer vigils and also set up an emergency fundraising campaign. The outpouring of support is being described as an example of kapwa, the Filipino tradition of solidarity and unity, as that community processes the grief while seeking answers on how the mental health system failed so badly to prevent the massacre. On today's episode of The CJN Daily, we're joined by two members of Canada's Filipino community, who also share deep ties with the country's Jews: David Decolongon, who works in Vancouver for the Centre for Israel and Jewish Affairs (CIJA), has family and friends who attended the festival and witnessed the horrific attack; and Primrose Madayag Knazan, from Winnipeg, is an award-winning Filipinx-Jewish author and playwright with expertise on how the Philippines helped rescue European Jews during the Holocaust. Related links Where to donate through the Jewish Federation of Greater Vancouver's  Filipino Community Emergency Support Fund. When Canadian Jews fundraised in 2013 to help disaster relief efforts in the Philippines after Typhoon Haiyan struck the country, in The CJN. When the Philippines rescued 1,200 European Jews during the Holocaust, in The CJN. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer), Marc Weisblott (editorial director) Music: Dov Beck-Levine Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to The CJN Daily (Not sure how? Click here)

Scott Demark, President and CEO of Zibi Community Utility, joins thinkenergy to discuss how our relationship with energy is changing. With two decades of expertise in clean energy and sustainable development, Scott suggests reimagining traditional energy applications for heating and cooling. He shares how strategic energy distribution can transform urban environments, specifically how district energy systems optimize energy flow between buildings for a greener future. Listen in.   Related links   Scott Demark on LinkedIn: https://www.linkedin.com/in/scott-demark-83640473/ Zibi Community Utility: https://zibi.ca/ Markham District Energy Inc: https://www.markhamdistrictenergy.com/ One Planet Living: https://www.bioregional.com/one-planet-living Trevor Freeman on LinkedIn: https://www.linkedin.com/in/trevor-freeman-p-eng-cem-leed-ap-8b612114/ Hydro Ottawa: https://hydroottawa.com/en   To subscribe using Apple Podcasts:  https://podcasts.apple.com/us/podcast/thinkenergy/id1465129405   To subscribe using Spotify: https://open.spotify.com/show/7wFz7rdR8Gq3f2WOafjxpl https://open.spotify.com/show/7wFz7rdR8Gq3f2WOafjxpl To subscribe on Libsyn: http://thinkenergy.libsyn.com/ --- Subscribe so you don't miss a video: https://www.youtube.com/user/hydroottawalimited   Follow along on Instagram: https://www.instagram.com/hydroottawa   Stay in the know on Facebook: https://www.facebook.com/HydroOttawa Transcript: Trevor Freeman  00:07 Welcome to thinkenergy, a podcast that dives into the fast, changing world of energy through conversations with industry leaders, innovators and people on the front lines of the energy transition. Join me, Trevor Freeman, as I explore the traditional, unconventional and up and coming facets of the energy industry. If you have any thoughts, feedback or ideas for topics we should cover, please reach out to us at thinkenergy@hydroottawa.com   Speaker 1  00:29 Hi everyone. Welcome back. One of the overarching aspects of the energy transition that we have talked about several times on this show is the need to change our relationship with energy, to rethink the standard way of doing things when it comes to heating and cooling and transportation, etc. This change is being driven by our need to decarbonize and by the ongoing evolution and improvement of technology. More things are becoming available to us as technology improves on the decarbonization front, we know that electrification, which is switching from fossil fuel combustions to electricity for things like space and water heating vehicles, etc, is one of the most effective strategies. But in order to switch out all the end uses to an electric option, so swapping out furnaces and boilers for heat pumps or electric boilers, switching all gas cars to EVs, etc. In order to do that in a way that is affordable and efficient and can be supported by our electricity grid, we need to think about multi strategy approaches, so we can't just continue to have this one way power grid where every home, every business, every warehouse or office tower satisfies all of its energy needs all the time directly from the grid with no adaptability. That isn't the best approach. It's not going to be affordable or efficient. We're not going to be able to do it fast enough. The multi strategy approach takes into account things like distributed energy resources, so solar and storage, etc, which we've talked about many times on this show, but it also includes approaches like district energy. So, district energy is rethinking how energy flows between adjacent buildings, looking for opportunities to capture excess energy or heat from one source and use that to support another. And that is the focus of today's conversation. To help us dive into this topic, I'm really happy to welcome Scott Demark to the show. Scott has been a champion of sustainability, clean energy solutions and energy efficiency in the Ottawa real estate and development industry for over 20 years now, he has overseen many high-performance development projects and was one of the driving forces behind the Zibi development in downtown Ottawa, and most applicable for today's conversation the renewable district energy system that provides heating and cooling to the Zibi site. Scott is the president and CEO of the Zibi community utility, as well as a partner at Thea partners. Scott Demark, welcome to the show.   Scott Demark  03:15 Thanks. Nice to see you. Trevor,   Trevor Freeman  03:17 So, Scott, why don't we start with definitions are always a good place to start. So, when we talk about a district energy system, give us a high-level overview of what exactly that means.   Scott Demark  03:27 Sure, a district energy system is, is simply the connection, or interconnection of thermal energy sources, thermal energy sinks. And so really, in practical terms. It means, instead of buildings having their own furnace and cooling system, buildings connect to a hydronic loop. A hydronic loop is just pipes filled with water, and then the heat or the cooling is made somewhere else, and that heat or lack of heat cooling is in a pipe. They push the pipe to the building, and then the pipe extracts the heat or rejects the heat to that loop. And so it's simply an interconnection of us as sources and sinks for federal energy.   Trevor Freeman  04:14 And I guess one of the important concepts here is that buildings often create heat, not just through a furnace or not just through the things that are meant to create heat, but, you know, server racks, computer server racks, generate a lot of heat, and that heat has to go somewhere. So oftentimes we're cooling buildings to remove heat that's being created in those buildings, and then other buildings nearby need to be heated in order to make that space comfortable. Is that fair to say?   Scott Demark  04:42 Yeah, absolutely. Trevor, so, an office building in the city of Ottawa, big old government office building, you'll see a pretty big plume on the roof in the winter time. That's not just kind of the flue gas from a boiler, but rather it is actually chillers are. running inside to make cooling, and they're just selling that heat to the atmosphere, even on the coldest day of the year. So, it's people, you know, people are thermal load. Computers are thermal load, and so is solar gain. You know, January is pretty dark period for us, meaning low angle sun. But by this time in a year, you know, or at the end of February, there's a lot of heat in that sun. So, a glass building absorbs a lot of sun. An office building will need cooling on the sunny side of that building a lot of the time, even in the dead of winter.   Trevor Freeman  05:31 Yeah. So, a district system, then, is taking advantage of the fact that heat exists, and we don't necessarily need to either burn fossil fuels or even if it's a, you know, a clean system, we don't have to expend energy to create heat, or create as much heat if we could move that heat around from where it's kind of naturally occurring to where we need it.   Scott Demark  05:54 That's right at the very core of a district energy system. You're going to move heat from a place that it's not wanted to a place that it is wanted. And so in our example of the office building, you know, on the February day with the sun shining in and the computers all running, that building's getting rid of heat. But right next door, say there's a 20-story condo. Well, that 20 story condo needs heating and it also needs domestic hot water. So, year-round, domestic hot water represents 30, 35% of the heating load of any residential building, so at all times. So, a district energy system allows you to take that heat away from the office building and give it to the residential building, instead of making the heat and dissipating that heat to the atmosphere in the office building. So, yeah, it's, it's really a way to move, you know, from sources to sinks. That's, that's what a district energy system does well.   Trevor Freeman  06:48 So we've kind of touched on this a little bit, but let's dive right into, you know, we talk a lot on the show about the energy transition. This, this push to, one, move away from fossil fuel combustion to meet our energy needs. And two, shifting from a kind of static, centralized energy system like we have right now, big generators, large transmission lines, etc., to more of a two-way flow, distributed energy system. What is the role of district energy systems within that transition. How do they help us get closer to that sort of reality that we talk about?   Scott Demark  07:27 I think the biggest way that they help is economies of scale. Okay, so by that, I'll explain that. Imagine there's a lot of technology that's been around a long time that is very scalable to the building level, but most of them are fossil fire. Okay, so the cheapest way to heat a building in Ottawa is to put a gas fired boiler in. That's the cheapest capital cost, first cost, and it's also the cheapest operating cost, is to put a gas boiler in. That industry is well established. There's lots of trades who could do it. There's lots of producers who make the boilers. When you start to try and think about the energy transition and think about what you may do to be different, to be lower carbon, or to be zero carbon, those industries are just starting right. Those industries don't exist. They don't have the same depth, and so they don't have the same cost structure, and often times they don't scale well down to the building. And therefore, a district energy system aggregates a bunch of load, and so you can provide a thermal energy so at scale that becomes affordable. And that is, you know, a very good example of that would be where, you know, you might want to go and recover heat from some process, and we'll talk about Zibi as the example. But if he wanted to go recover heat from some process and bring it in, it doesn't make sense to run a pipeline to a source to heat one building. You can't make financial sense of it, but if you're heating 20 buildings, that pipeline, all of a sudden, makes sense to take waste heat from somewhere, to move it somewhere else. The other advantage is that truly district energy systems are agnostic to their inputs and outputs for heat. So, once you've established that hydronic loop, that interconnection of water pipes between buildings, what the source and what the sources, doesn't matter. So, you may have at one point built a district energy system, and Markham District Energy System is a great example of this market District Energy System was built on the concept of using a co-generation facility. So they burned natural gas to make electricity, they sold electricity to the grid, and they captured all the waste heat from that generation, and they fed it into a district energy system. Well, here we are, 20 plus years later, and, they're going to replace that system, that fossil fired system Augment, not fully replaced, but mostly replace that system with a sewer coupled energy recovery and drive those heat recovery chillers to a sewer system. So, they're putting a very green solution in place of a former fossil solution. They don't have to rip up the pipes, they don't have to change anything in the buildings. They only have to change that central concept. Now, again, Markham could never do that at a one building scale. They're only that at the community scale.   Trevor Freeman  10:21 So, you mentioned, I want to pick on something you said there. You talked about a sewer heat energy system. They're pulling heat from the sewer. Just help our listeners understand high level kind of, why is there heat there for us to pull? Like, what's the what's the source there?   Scott Demark  10:38 Yeah. So, when we shower, when we flush toilets, all of that is introducing heat into a sewer system. So, we're collecting heat from everybody's house into the sewer system. The sewer system also sits below the frost line. So, call it Earth coupled. You know it's the earth in Ottawa below the frost line sits around eight, eight and a half c and so at that temperature and the temperature of flushing toilets, we essentially get a sewer temperature in the on the coldest day of the year, that's around 10 10, and a half degree Celsius. And obviously, for lots of the year, it's much warmer than that. And so I think, you know, a lot of people are kind of familiar with the concept of geo exchange energy, or that. Lot of people call it geothermal, but you exchange where you might drill down into the earth, and you're taking advantage of that eight, eight and a half degrees, I'll see. So, you're exchanging heat, you can reject heat to the earth, or you can absorb heat from the earth. Well, this is the same idea, but you accept or reject from the sewer. But because the sewer is relatively shallow, it is cheaper to access that energy, and because it's warm, and on the coldest day, a couple of degrees make a big difference, Trevor, and most of the year so much warmer, you're really in a very good position to extract that heat, and that's all it is. You are just accepting or rejecting heat. You don't use the sewage itself. It doesn't come into your building. You have a heat exchanger in between. But that's, that's what you do.   Trevor Freeman  12:10 Yeah, great. And I, we've talked before on the show about the idea that, you know, for a air source, heat pump, for example, you don't need a lot of heat energy to extract energy from the air. It can be cold outside, and there is still heat energy in the air that you can pull and use that to heat a building, heat water, whatever. So same concept, except you've got a much warmer source of energy, I guess.   Scott Demark  12:34 Yeah, exactly. And you know, Trevor, when you look at the efficiency curves of those air source heat pumps, you know, they kind of drop off a cliff at minus 20. Minus 22 in fact. You know, five or six years ago, they that that was dropping off at minus 10. So, we've come a long way in air source heat pumps. But imagine on that coldest, coldest day of the year, you're still your source is well above zero, and therefore your efficiency. So, the amount of electricity you need to put into the heat pump to get out the heat that you need is much lower, so it's a way more efficient heat exchange.   Trevor Freeman  13:07 Great. Thanks for that, Scott. I know that's a bit of a tangent here, but always cool to talk about different ways that we're coming up with to heat our buildings. So back to district energy. We've talked through some of the benefits of the system. If I'm a building owner and I'm have the decision to connect to a system that's there, or have my own standalone, you know, traditional boiler, whatever the case may be, or even in a clean energy one, a heat pump, whatever. What are the benefits of being on a district system versus having my own standalone system for just my building.   Scott Demark  13:42 Yeah, so when you're wearing the developer's hat, you know they're really looking at it financially. If they have other goals around sustainability, great, that will factor into it. But most of them are making decisions around this financially. So, it needs to compete with that. That first cost that we talked about the easiest ways, is boilers, gas fired boilers is the cheapest way. And so, they're going to look to see it at how. How does this compare to that? And so, I think that's the best way to frame it for you. And so, the difference here is that you need to install in your building a cooling system and a heating system. In Ottawa, that cooling system is only used for a few months a year, and it's very expensive. It takes up space, whether you're using a chiller and a cooling tower on the roof or using a dry cooler, it takes up roof space, and it also takes up interior space. If you do have a cooling tower, you have a lot of maintenance for that. You need to turn it on and turn it off in the spring, on and fall, etc., just to make sure all that happens and you need to carry the life cycle of that boiler plant. You need to bring gas infrastructure into your building. You generally need to put that gas boiler plant high in your building. So up near the top, and that's for purposes of venting that properly. Now that's taking real estate, right? And it's taking real estate on the area that's kind of most advantageous, worth the most money. So you might lose a penthouse to have a boiler and chiller room up there. And you also, of course, lose roof space. And today, we really do try to take advantage of those rooftop, patios and things, amenities are pretty important in buildings. And so, when I compare that to district energy at the p1 level, p2 level in your building, you're going to have a small room, and I really do mean small where the energy transfer takes place, you'll have some heat exchangers. And small, you might have a space, you know, 10 or 12 feet by 15 to 18 feet would be big enough for a 30-story tower, so a small room where you do the heat exchange and then Trevor, you don't have anything in your building for plants that you would normally look after. So, when you look at the pro forma for owning your building over the lifetime of it. You don't have to maintain boilers. You don't have to have boiler insurance. You don't have to maintain your chillers. You don't have to have life cycle replacement on any of these products. You don't need anybody operating those checking in on the pressure vessels. None of that has to happen. All of that happens on the district energy system. So, you're really taking something you own and operate, and replacing that with a service. So, district energy is a service, and what, what we promised to deliver is the heating you need and the cooling you need. 24/7. The second thing you get is more resilience, and I'll explain that a little bit. Is that in a in a normal building, if you if the engineers looked at it and said, you need two boilers to keep your building warm, then you're probably going to install three. And that is kind of this, and plus one sort of idea, so that if one boiler goes down, you have a spare. And you need to maintain those. You need to pay for that. You need to maintain those, etc. But in district energy system, all that redundancy is done in the background. It's done by us, and we have significantly more redundancy than just n plus one in this example. But overall, you know, if you have 10 buildings on your district energy system, each of those would have had n plus one. We don't have n plus 10 in the plant. And so overall, the cost is lower, I would say, if you look at it globally, except the advantages you do have better than N plus one in the plant. So, we have higher resiliency at a lower cost.   Trevor Freeman  17:39 So, we know there's no such thing as a miracle solution that works in all cases. What are the best use cases for district energy system? Where does it make a lot of sense?   Scott Demark  17:50 Yeah, in terms some, in some ways the easiest things, Pretty work. Doesn't make sense. So, so it doesn't make sense in sprawling low rise development. So, the cost of that hydronic loop those water pipes is high. They have to fit in the roadway. It's civil work, etc. And so, you do need density. That doesn't mean it has to be high rise density.  You know, if you look at Paris, France, six stories district energy, no problem. There's, there's lots and lots of customers for that scale of building. It doesn't have to be all high rise, but it does, District Energy does not lend itself well to our sprawling style of development. It's much more suited to a downtown setting. It also kind of thrives where there's mixed use. You know, I think the first example we were talking about is office building shedding heat, residential building needing heat. You know, couple that with an industrial building shedding heat. You know, these various uses, a variety of uses on a district energy system, is the best, because its biggest advantage is sharing energy, not making energy. And so, a disparity of uses is the best place to use that. I think the other, the other thing to think about, and this is harder in Canada than the rest of the world, is that, you know, it's harder on a retrofit basis, from a cost perspective, than it is in a in a new community where you can put this in as infrastructure. Day one, you're going to make a big difference. And I'll, you know, give a shout out to British Columbia in the Greater Vancouver area. So, the district, you know, down in the Lower Mainland, they, they kind of made this observation and understood that if they were going to electrify, then District Energy gave economies of scale to electrify that load. And they do a variety of things, but one of the things they do is, is kind of district you exchange system so, so big heat pumps coupled to big fields, and then spring heat made a bunch of buildings. But these are green field developments Trevor. So, as they expand their suburbs. They do need to build the six stories. They very much have kind of density around parks concept. So now Park becomes a geo field. Density around the geo field, but this infrastructure is going in the same time as the water pipes. It's going in at the same time as the roads, the sidewalks, etc. You can dramatically reduce your cost, your first cost related to that hydro loop, if you're putting it in the same time you're doing the rest of the services.   Trevor Freeman  20:27 So, we're not likely to see, you know, residential neighborhoods with single family homes or multi-unit homes, whatever, take advantage of this. But that sort of low rise, mid rise, that's going to be more of a good pick for this. And like you said, kind of development is the time to do this. You mentioned other parts of the world. So, district energy systems aren't exactly widespread. In Canada, we're starting to see more of them pop up. What about the rest of the world? Are there places in the world where we see a lot more of this, and they've been doing this for a long time?   Scott Demark  21:00 Yeah. So, I'd almost say every, everywhere in the northern hemisphere, except North America, has done much more of this. And, you know, we really look to kind of Scandinavia as the gold standard of this. You look to Sweden, you look to Denmark, you look to Germany, even. There's, there's a lot of great examples of this, and they are typically government owned. So, they are often public private partnerships, but they would be various levels of government. So, you know, if you, if you went to Copenhagen, you'd see that the municipality is an owner. But then their equivalent of a province or territory is actually a big part of it, too. And when they built their infrastructure ages ago, they did not have an easy source of fossil fuels, right? And so, they need to think about, how can we do this? How can we share heat? How can we centralize the recovery of heat? How can we make sure we don't waste any and this has just been ingrained in them. So there's massive, massive District Energy loops, interconnecting loops, some owned by municipalities. Someone probably, if you build the factory, part of the concept of your factory, part of the pro forma of your factory is, how much can I sell my waste heat for? And so, a factory district might have a sear of industrial partners who own a district energy loop and interfaces with the municipal loop all sort of sharing energy and dumping it in. And so that's, you know, that's what you would study. That's, that's where we would want to be, and the heart of it is, just as I said, we've really had, you know, cheap or, you know, really cheap fossil fuels. We've had no price on pollution. And therefore, it really hasn't needed to happen here. And we're starting to see the need for that to happen here.   Trevor Freeman  22:58 It's an interesting concept to think of, you know, bringing that factory example in, instead of waste heat or heat as a byproduct of your process being a problem that you need to deal with, something you have to figure out a way to get rid of. It becomes almost an asset. It's a it's a, you know, convenient commodity that's being produced regardless, that you can now look to sell and monetize?   Scott Demark  23:21 Yeah, you go back to the idea of, like, what are the big benefits of district energy? Is that, like, if that loop exists and somebody knows that one of the things the factory produces is heat, well, that's a commodity I produce, and I can, I can sell it, if I have a way to sell it right here. You know, we're going to dissipate it to a river. We may dissipate it to the atmosphere. We're going to get rid of it. Like you said, it's, it's, it's waste in their minds and in Europe, that is absolutely not waste.   Trevor Freeman  23:49 And it coming back to that, you know, question of, where does this make sense? You talked about mixed use. And it's also like the, you know, the temporal mix use of someone that is producing a lot of heat during the day when the next-door residential building is empty, then when they switch, when the factory closes and the shift is over and everybody comes home from work, that's when that building needs heat. That's when they want to be then taking that heat to buildings next to each other that both need heat at the same time is not as good a use cases when it's offset like that.   Scott Demark  24:23 Yeah, that's true. And unless lots of District Energy Systems consider kind of surges in storage, I know our system at CB has, has kind of a small storage system related to the domestic hot water peak load. However, you can also think of the kilometers and kilometers and kilometers of pipes full of water as a thermal battery, right? So, so you actually are able to even out those surges. You let the temperature; the district energy system rise. When that factory is giving all out all kinds of heat, it's rising even above the temperature. You have to deliver it at, and then when that peak comes, you can draw down that temperature and let the whole district energy system normalize to its temperature again. So you do have an innate battery in the in the water volume that sits in the district energy system   Trevor Freeman  25:15 Very cool. So you've mentioned Zibi a couple times, and I do want to get into that as much as we're talking about other parts of the world, you know, having longer term district energy systems. Zibi, community utility is a great example, right here in Ottawa, where you and I are both based of a district energy system. Before we get into that, can you, just for our listeners that are not familiar with Zibi, give us a high level overview of what that community is its location, you know, the goals of the community. And then we'll talk about the energy side of things.   Scott Demark  25:46 Sure. So Zibi was formerly Domtar paper mills. It's 34 acres, and it is in downtown Ottawa and downtown Gatineau. About a third of the land mass is islands on the Ontario side, and two thirds the land mass is on the shore, the north shore of the Ottawa River in Gatineau, both downtown, literally in the shadows of Parliament. It is right downtown. It was industrial for almost 200 years. Those paper mills shut down in the 90s and the early 2000s and my partners and I pursued that to turn it from kind of this industrial wasteland, walled off, fenced off, area that no one could go into, what we're hoping will be kind of the world's most Sustainable Urban Community, and so at build out, it will house, you know, about six, 7000 people. It will be four and a half million square feet, 4.24 point 4 million square feet of development. It is master planned and approved, and has built about, I think we're, at 1.1 million square feet, so we're about quarter built out. Now. 10 buildings are done and connected to the district energy system there. And really, it's, it's an attempt to sort of recover land that was really quite destroyed. You can imagine it was a pretty polluted site. So, the giant remediation plan, big infrastructure plan. We modeled this, this overall sustainability concept, over a program called one planet living which has 10 principles of sustainability. So, you know, you and I are talking a lot about carbon today, but there's also very important aspects about affordability and social sustainability and lifestyle, and all of those are incorporated into the one planet program, and encourage people to look up one planet living and understand what it is and look at the commitments that we've made at Zibi to create a sustainable place. We issue a report every year, kind of our own report card that's reviewed by a third party that explains where we are on our on our mission to achieve our goal of the world's most sustainable community.   Speaker 1  28:09 Yeah. And so I do encourage people to look at one planet living also. Have a look at, you know, the Zibi website, and it's got the Master Plan and the vision of what that community will be. And I've been down there, it's already kind of coming along. It's amazing. It's amazing to see the progress compared to who I think you described it well, like a bit of an industrial wasteland at the heart of one of the most beautiful spots in the city. It was really a shame what it used to be. And it's great to see kind of the vision of what it can become. So that's awesome,   Scott Demark  28:38 Yeah, and Trevor, especially now that the parks are coming along. You know, we worked really closely with the NCC to integrate the shoreline of Zibi to the existing, you know, bike path networks and everything. And, you know, two of the three shoreline parks are now completed and open to the public and they're stunning. And you know, so many Ottawa people have not been down there because it's not a place you think about, but it's one of the few places in Ottawa and Gatineau where you can touch the water, you know, like it's, it's, it's stunning,   Trevor Freeman  29:08 yeah, very, very cool. Okay, so the next part of that, of course, is energy. And so there is a district energy system, one of the first kind of, or the most recent big energy, District Energy Systems in Ottawa. Tell us a little bit about how you are moving energy and heating the Zibi site.   Scott Demark  29:29 Yeah. So first, I'll say, you know, we, we, we studied different, uh, ways to get to net zero. You know, we had, we had a goal of being a zero carbon community. There are low carbon examples, but a zero carbon community is quite a stretch. And even when you look at the Scandinavian examples, the best examples, they're missing their energy goals, largely because some of the inputs that are District Energy System remain false so, but also because they have trouble getting them. Performance out of the buildings. And so we looked at this. We also know from our experience that getting to zero carbon at the building scale in Ottawa is very, very difficult. Our climate is tough, super humid, super hot. Summer, very cold, very dry, winter, long winter. So, it's difficult at the building scale. It's funny Trevor, because you'd actually have an easier time getting to zero carbon or a passive house standard in affordable housing than you do at market housing. And that's because affordable housing has a long list of people who want to move in and pay rents. You can get some subsidies for capital and the people who are willing to pay rent are good with smaller windows, thicker walls, smaller units and passthroughs, needs all those kinds of things. So when down at Zibi, you're really selling views, you're competing with people on the outside of Zibi, you're building almost all glass buildings. And so it's really difficult to find a way to get to zero carbon on the building scale. So that moved us to district energy for all the reasons we've talked about today already. And so, when we looked at it for Zibi, you really look at the ingredients you have. One of the great things we have is we're split over the border. It's also a curse, but split over the border is really interesting, because you cannot move electricity over that border, but you can move thermal energy over that border. And so, for us, in thinking about electrifying thermal energy, we realized that if we did the work in Quebec, where there is clean and affordable electricity, we could we could turn that into heat, and then we could move heat to Ontario. We could move chilled water to Ontario. So that's kind of ingredient, one that we had going for us there. The second is that there used to be three mills. So originally Domtar three mills, they sold one mill. It changed hands a few times, but it now belongs to Kruger. They make tissue there so absorbent things, Kleenexes and toilet paper, absorbent, anything in that tissue process that's a going concern. So, you can see that in our skyline. You can see, on cold days, big plumes of waste heat coming out of it. And so, we really saw that as our source, really identified that as our source. And how could we do that? So, going back to the economies of scale, is, could we send a pipeline from Kruger, about a kilometer away, to Zibi? And so, when we were purchasing the land, we were looking at all the interconnections of how the plants used to be realized. There are some old pipelines, some old easements, servitudes, etc. And so, when we bought the land, we actually bought all of those servitudes to including a pipeline across the bridge, Canadian energy regulator licensed across the bridge into Ontario. And so, we mixed all these ingredients up, you know, in a pot, and came up with our overall scheme. And so that overall scheme is relatively simple. We built an energy recovery station at Kruger, where just before their effluent water, like when they're finished in their process, goes back to the river. We have a heat exchanger there. We extract heat. We push that heat in a pipe network over to Zibi. At Zibi, we can upgrade that heat using heat recovery chillers, to a useful temperature for us, that's about 40 degrees Celsius, and we push that across the bridge to Ontario, all of our buildings in Ontario, then have thin coil units. They use that 40-degree heat to heat buildings. The return side of that comes back to Quebec, and then on the Quebec side, we have a loop and all of our buildings in the Quebec side, then use heat pumps so we extract the last bit of heat. So, imagine you you've returned from a fan coil, but you're still slightly warm. That slightly warm water is enough to drive a heat pump inside the buildings. And then finally, that goes back to Kruger again, and Kruger heats it back up with their waste heat comes back. So that's our that's our heating loop. The cooling side is coupled to the Ottawa River. And so instead of us rejecting heat to the atmosphere through cooling towers, our coolers are actually coupled to the river. That's a very tight environmental window that you can operate in. So, we worked with the minister the environment climate change in Quebec to get our permit to do it. We can only be six degrees difference to the river, but our efficiency is, on average, like on an annual basis, more than double what it would be to a cooling tower for the same load. So, we're river coupled with respect to cooling for the whole development, and we're coupled to Kruger for heating for the whole development. And what that allows us to do is eliminate fossil fuels. Our input is clean Quebec electricity, and our output is heating and cooling.   Trevor Freeman  34:56 So, none of the buildings, you know, just for our listeners, none of the buildings have any. sort of fossil fuel combustion heating equipment. You don't have boilers or anything like that, furnaces in these in these buildings,   Scott Demark  35:06 no boilers, no chillers, no   Trevor Freeman  35:09 that's awesome. And just for full transparency, I should have mentioned this up front. So, the zibi community utility is a partnership between Zibi and Hydro Ottawa, who our listeners will know that I work for, and this was really kind of a joint venture to figure out a different approach to energy at the city site.   Scott Demark  35:28 Yeah, that's right, Trevor. I mean the concept, was born a long time ago now, but the concept was born by talking to Hydro Ottawa about how we might approach this whole campus differently. You know, one of hydro Ottawa's companies makes electricity, of course, Chaudiere Falls, and so that was part of the thinking we thought of, you know, micro grids and islanding this and doing a lot of different things. When Ford came in, and we were not all the way there yet and made changes the Green Energy Act. It made it challenging for us to do the electricity side, but we had already well advanced the thermal side, and hydro, you know, hydro makes a good partner in this sort of thing. When a when a developer tells someone, I'd like you to buy a condo, and by the way, I'm also the district energy provider that might put some alarm bells up, but you put a partnership in there with a trusted, long term utility partner, and explain that, you know, it is in the in the public interest, they're not going to jack rates or mess with things. And then obviously, just, you know, hydro had such a long operating record operating experience that they really brought sort of an operations and long-term utility mindset to our district energy system.   Trevor Freeman  36:45 So, looking at a system like the Zibi community utility or other district energy systems, is this the kind of thing that can scale up over time? And, you know, I bring this up because you hear people talk about, you know, a network of district energy systems across a city or across a big geographic area. Are these things that can be interconnected and linked, or does it make more sense as standalone district energy systems in those conditions that you talked about earlier?   Scott Demark  37:17 Very much the former Trevor like, and that's, you know, that's where, you know, places like Copenhagen are today. It's that, you know, there was, there was one district energy system, then there was another, then they got interconnected, then the third got added. And then they use a lot of incineration there, in that, in that part of the world, clean incineration for garbage. And so then an incinerator is coming online, and so that incinerators waste heat is going to be fed with a new district energy loop, and some other factory is going to use the primary heat from that, and then the secondary heat is going to come into the dictionary system. So, these things are absolutely expandable. They're absolutely interconnectable. There are temperature profiles. There's modern, modern thoughts on temperature profiles compared to older systems. Most of the old, old systems were steam, actually, which is not the most efficient thing the world, but that's where they started and so now you can certainly interconnect them. And I think that the example at Zibi is a decent one, because we do have two kinds of systems there. You know, I said we have fan coil units in in the Ontario side, but we have heat pumps on the other side. Well, those two things, they can coexist, right? That's there. Those two systems are, are operating together. Because the difference, you know, the difference, from the customer's perspective, in those two markets are different, and the same can be true in different parts of the city or when different sources and sinks are available. So, it is not one method of doing district energy systems. What you do is you examine the ingredients you have. I keep saying it, but sources and sinks. How can I look at these sources and sinks in a way that I can interconnect them and make sense? And sometimes that means that a source or a sink might be another district energy system,   Trevor Freeman  39:12 Yeah, systems that maybe work in parallel to each other, in cooperation with each other. Again, it's almost that temporal need where there's load high on at one point in time and low on the other point in time. Sharing is a great opportunity.   Scott Demark  39:26 Yeah, absolutely   Trevor Freeman  39:27 great. Okay, last question for you here, Scott, what is needed, maybe from a regulatory or a policy lens to encourage more implementation of district energy systems. How do we see more of these things happen here in Canada or North America?   Scott Demark  39:45 The best way to put this, the bureaucracy has been slow to move is, is what I'll say. And I'll use Zibi as that example. When we when we pitch the district energy system. At Zibi, we had to approach the City of Ottawa, and we had to approach the city at Gatineau, the City of Ottawa basically said to us, no, you can't put those in our streets. Engineering just said, no, no, no, no. And so, what we did at Zibi is we actually privatized our streets in order to see our vision through, because, because Ottawa wasn't on board, the city of Gatineau said, Hmm, I'm a little worried. I want you to write protocols of how you will access your pipes and not our pipes. I want to understand where liability ends and starts and all of this kind of stuff. And we worked through that detail slowly, methodically with the city of Gatineau, and we came to a new policy on how district energy could be in a public street and Zb streets are public on the Gatineau side today, you know, come forward 10 years here, and the City of Ottawa has a working group on how to incorporate District Energy pipes into streets. We've been able to get the City of Ottawa to come around to the idea that we will reject and accept heat from their sewer. You know, Hydro Ottawa, wholly owned company of the City of Ottawa, has an active business in district energy. So Trevor, we've come really far, but it's taken a long time. And so, if you ask me, How can we, how can we accelerate district energy, I think a lot of it has to do with the bureaucracy at municipalities. And you know, we're we see so much interest from the Federation of Canadian municipalities, who was the debt funder for zcu. We have multiple visits from people all over Canada, coming to study and look at this as an example. And I'm encouraged by that. But it's also, it's also not rocket science. We need to understand that putting a pipe in a street is kind of a just, just a little engineering problem to solve, whereas putting, you know, burning fossil fuels for these new communities and putting it in the atmosphere, like the genies out of the bottle, right, like, and unfortunately, I think, for a lot of bureaucrats, the challenge at the engineering level is that that pipe in the street is of immediate, complex danger to solving that problem, whereas it's everybody's problem that the that the carbons in the atmosphere. So, if we could accelerate that, if we could focus on the acceleration of standards around District Energy pipes and streets, the rights of a district energy company to exist, and not to rant too much, but give you an example, is that a developer is required to put gas infrastructure into a new community, required, and yet you have to fight to get a district energy pipe in the street. So there needs to be a change of mindset there, and, and, and we're not there yet, but that's where we need to go.   Trevor Freeman  43:07 Yeah, well, it'll be interesting. You know, in 10 years, let's talk again and see how far we come. Hopefully not 10 years. Hopefully it's more like five, to see the kind of change that you've seen in the last decade. But I think that the direction is encouraging, the speed needs a little bit of work, but I'm always encouraged to see, yeah, things are changing or going in the right direction, just slowly. Well, Scott, we always end our interviews with a series of questions to our guests, so as long as you're okay with it, I'll jump right into those. So, the first question is, what is a book you've read that you think everybody should read?   Scott Demark  43:41 Nexus? Which is by Harare. He's the same author that wrote sapiens. Lots of people be familiar with sapiens. And so, Nexus is, is really kind of the history of information that works like, how do we, how do we share and pass information? And kind of a central thesis is that, you know, information is, is neither knowledge nor truth. It is information, and it's talking a lot about, in the age of AI, how are we going to manage to move information into truth or knowledge? And I think it, you know, to be honest, it kind of scared the shit out of me reading it kind of how, how AI is impacting our world and going to impact our world. And what I thought was kind of amazing about it was that he really has a pretty strong thesis around the erosion of democracy in this time. And it's, it was, it was really kind of scary because it was published before the 2024, election. And so it's, it's really kind of both a fascinating and scary read. And I think really something that everybody should get their head around.   Trevor Freeman  44:59 Yeah, there's a few of those books recently that I I would clear or classify them as kind of dark and scary, but really important or really enlightening in some way. And it kind of helps you, you know, formalize a thought or a concept in your head and realize, hey, here's what's happening, or gives you that kind of the words to speak about it in this kind of fraught time we're in. So same question. But for a movie or a show, is there anything that you think everybody should watch   Scott Demark  45:29 That's harder. I think generally, if I'm watching something, it's for my downtime or own entertainment, and pushing my tastes on the rest of the world, maybe not a great idea. I if I, if I'm, if I'm kind of doing that, I tend to watch cooking shows, actually, Trevor. So, like, that's awesome. I like ugly, delicious. I love David Chang. I like, I like, mind of a chef, creativity behind a chef. So those kinds of things, I'd say more. So, if there was something to like that. I think somebody else should, should watch or listen to I have, I have a real love for Malcolm Gladwell podcast, revisionist history. And so if I thought, you know, my watching habits are not going to going to expand anybody's brain. But I do think that Malcolm's perspective on life is, is really a healthy it's really healthy to step sideways and look at things differently. And I would suggest, if you have never listened to that podcast, go to Episode One, season one, and start there. It's, it's, it's fantastic.   Trevor Freeman  46:39 Yeah, I agree. I'll echo that one. That's one of my favorites. If we were to offer you or not, but if we were to offer you a free round-trip flight, anywhere in the world, where would you go?   Scott Demark  46:50 That's hard. So much flight guilt, you know, I know it's a hard assume that there's carbon offset to it. It's an electric plane.   Trevor Freeman  47:00 That's right, yeah,   Scott Demark  47:01 the we, my family, had a trip planned in 2020 to go to France and Italy. My two boys were kind of at the perfect age to do that. It would have been a really ideal trip. And so, I've still never been to either of those places. And if I had to pick one, probably Italy, I would really like to see Italy, mafuti. I think it would be a fantastic place to go. So probably, probably Italy.   Trevor Freeman  47:25 My favorite trip that I've ever done with my wife and our six-month-old at the time was Italy. It was just phenomenal. It was a fantastic trip. Who's someone that you admire?   Scott Demark  47:36 I have a lot of people, actually, a lot of people in this, in this particular space, like, what would I work in that have brought me here to pick one, though I'd probably say Peter Busby. So, Peter Busby is a mentor, a friend, now a business partner, but, but not earlier in my career. Peter Busby is a kind of a, one of the four fathers, you know, if you will, of green design in Canada. He's an architect, Governor General's Award-winning architect, actually. But I think what I, what I really, appreciate about Peter, and always will, is that he was willing to stand up in his peer group and say, hey, we're not doing this right. And, you know, he did that. He did that in the early 80s, right? Like we're not talking he did it when it cost his business some clients. He did it when professors would speak out against him, and certainly the Canadian Association of architecture was not going to take any blame for the shitty buildings that have been built, right? And he did it. And I remember being at a conference where Peter was getting a Lifetime Achievement Award from the Canadian architects Association, and so he's standing up, and people are all super proud of him. They're talking about his big life. And he kind of belittled them all and said, you're not doing enough. We're not doing enough like he's still he's still there. He's still taking the blame for where things are, and that things haven't moved fast enough, and that buildings are a massive part of our carbon problem, and probably one of the easier areas to fix. You know, we're talking about electric planes. Well, that's a that's a lot more difficult than it is to recover energy from a factory to heat a community, right? I admire him. I learn things from him all the time. He's got a great book out at the moment, actually, and, yeah, he'd be right up there on my in my top list,   Trevor Freeman  49:54 Awesome. What is something about the energy sector or its future that you're particularly excited about?   Scott Demark  50:00 I wish you asked me this before the election. I I'm feeling a little dark. Trevor, I think there needs to be a price on pollution in the world. Needs to be a price on pollution in America, in Canada, and I'm worried about that going away. in light of that, I'm not, I'm not super excited about different technologies at the moment. I think there are technologies that are helping us, there are technologies that are pushing us forward, but there's no like silver bullet. So, you know, a really interesting thing that's coming is kind of this idea that a small nuclear reactor, okay, very interesting idea. You could see its context in both localized electricity production, but all the heat also really good for district entry, okay, so that's an interesting tech. It obviously comes with complications around security and disposal, if you like. There's our nuclear industry has been allowed to drink like it's all complicated. So, I don't see one silver bullet in technology that I'm like, That's the answer. But what I do see, I'll go back to what we were talking about before, is, you know, we had to turn this giant ship of bureaucracy towards new solutions. Okay, that's, that's what we had to do. And now that it's turned and we've got it towards the right course, I'm encouraged by that. I really am. You know, there are champions, and I'll talk about our city. You know, there's champions in the City of Ottawa who want to see this happen as younger people have graduated into roles and planning and other engineering roles there. They've grown up and gone to school in an age where they understand how critical this climate crisis is, and they're starting to be in positions of power and being in decision making. You know, a lot of my career, we're trying to educate people that there was a problem. Now, the people sitting in those chairs, it they understand there's a problem, and what can they do about it? And so I am, I am excited that that the there is a next generation sitting in these seats, making decisions. The bureaucracy the ship is, is almost on course to making this difference. So I do think that's encouraging. We have the technology. We really do. It's not rocket science. We just need to get through the bureaucracy barriers, and we need to find ways to properly finance it.   Trevor Freeman  52:34 Right? I think that's a good place to wrap it up. Scott, thanks so much for your time. I really appreciate this conversation and shedding a little bit of light, not just on the technical side of district energy systems, but on the broader context, and as you say, the bureaucracy, the the what is needed to make these things happen and to keep going in that right direction. So thanks a lot for your time. I really appreciate it.   Scott Demark  52:56 Thank you, Trevor, good to see you.   Trevor Freeman  52:57 All right. Take care. Thanks for tuning in to another episode of The thinkenergy podcast. Don't forget to subscribe. Wherever you listen to podcasts, and it would be great if you could leave us a review. It really helps to spread the word. As always, we would love to hear from you, whether it's feedback, comments or an idea for a show or a guest, you can always reach us at thinkenergy@hydroottawa.com

Canada's special representative on combating Islamophobia, Amira Elghawaby, just brought out a new guide to address anti-Muslim racism in our country. Among the key strategies it identifies is the need to share resources, support networks and advocacy tools. The Maru Society of BC is launching stopislamophobia.ca, an education and outreach campaign in Greater Vancouver and across British Columbia. We speak with Zool Suleman, lawyer and executive director of the Maru Society.

We discuss the border crisis, issues stemming from the Charter and international crime groups. Calvin Chrustie is a former senior operations officer with the Royal Canadian Mounted Police (RCMP), where he served for over 32 years, specializing in transnational organized crime, intelligence, and international hostage negotiations. He retired in 2017 as the Officer in Charge of Transnational Organized Crime Major Projects for Greater Vancouver. With extensive experience in complex investigations and crisis management across Europe, the Middle East, Africa, the Americas, and Asia, Chrustie led Canada's International Negotiators Team, handling terrorist and criminal kidnappings. He is trained by the FBI and Scotland Yard in hostage negotiation and received the 2016 International Policing Award from the Canadian Association of Police Chiefs for his work combating transnational crime and kidnappings.Nathan Romas is a Canadian police officer with the Edmonton Police Service (EPS), where he has served in various capacities, including as a patrol supervisor. Beyond his policing role, he is a director with the Edmonton Police Association, advocating for officers' interests. Romas is also the creator and host of The Quiet Professional, a podcast.Cornerstone Forum ‘25https://www.showpass.com/cornerstone25/Get your voice heard: Text Shaun 587-217-8500Substack:https://open.substack.com/pub/shaunnewmanpodcastSilver Gold Bull Links:Website: https://silvergoldbull.ca/Email: SNP@silvergoldbull.comText Grahame: (587) 441-9100Bow Valley Credit UnionWebsite: www.BowValleycu.comEmail: welcome@BowValleycu.com Use the code “SNP” on all ordersProphet River Links:Website: store.prophetriver.com/Email: SNP@prophetriver.com

A group that advocates for better transit in Greater Vancouver says that if new funding isn't found to sustain TransLink's operations by April, we could be facing a 30% cut in rail service and a 50% cut in bus service and leaving some neighbourhoods without a single bus route. Denis Agar is the executive director of Movement: Metro Vancouver Transit Riders. He joins Lorraine Chisholm to talk about their campaign to Save The Bus.

The Canadian housing market is experiencing one of its most dramatic shifts in recent history, as the gap between government promises and market realities continues to widen. While policymakers have focused on demand-side measures like home-flipping taxes, actual housing starts have declined significantly. Meanwhile, an unprecedented number of rental units are entering the market, leading to falling rental prices.Despite political rhetoric about increasing housing supply, overall housing starts have dropped 19% since their peak in 2021, now sitting at 239,000. However, rental unit construction is surging—up 44% year-over-year—comprising nearly half of all new starts. A record-breaking 144,000 rental units are currently in development, which is already having a profound effect on the market.Rental rates, which had been rising for 38 months straight, have now fallen for four consecutive months, with national averages dropping from a peak of $2,196 in January 2024 to $2,100 today. Shared accommodation listings have surged 42% year-over-year, with rates declining 7.6%, signaling a shifting dynamic in the rental market.While rental construction is booming, single-family home (SFH) completions tell a different story. In January 2025, only 3,800 SFHs were completed—the lowest monthly total since 1997. This ongoing supply crunch suggests that SFH prices may hold firm, even as the condo market weakens.Inflation in Canada remains relatively stable, sitting at 1.9% in January, marking six consecutive months at or below the Bank of Canada's 2% target. However, the vast majority of inflation—1.3%—is being driven by shelter costs. Mortgage interest costs, a key driver of inflation, have been slowing, with the most recent increase at just 0.2%, the weakest since April 2022.Employment Insurance (EI) claims are rising at an alarming rate. Nationally, claims increased 14% year-over-year, from 245,000 to over 280,000, while Ontario saw a 29% jump, from 76,000 to 98,000. These numbers suggest weakening economic conditions, which could drag down GDP growth in the months ahead.On the mortgage front, December saw a staggering 90% year-over-year surge in mortgage originations, largely due to renewals. Many homeowners who locked in ultra-low rates five years ago are now facing a 35% payment shock, putting additional strain on household finances.At the same time, housing inventory is surging. January saw an 11% month-over-month increase in new listings—the largest ever recorded. BC led the way with a staggering 29% increase. Pre-sale condo inventory in Greater Vancouver has nearly doubled from 7,000 to 12,000 units, pushing total available homes in the region above 25,000. This supply surge is making price increases unlikely in the near term.February data indicates a shift in market momentum. After months of year-over-year sales growth, February saw a 12% annual decline in sales activity. Prices are also softening, with median home prices in Greater Vancouver dropping $20,000 to $900,000—a 10% decline from peak values. _________________________________ Contact Us To Book Your Private Consultation:

rWotD Episode 2844: Khalsa Diwan Society Vancouver Welcome to Random Wiki of the Day, your journey through Wikipedia’s vast and varied content, one random article at a time.The random article for Saturday, 15 February 2025 is Khalsa Diwan Society Vancouver.The Khalsa Diwan Society Vancouver (KDS; Punjabi: ਖ਼ਾਲਸਾ ਦਿਵਾਨ ਸੋਸਾਇਟੀ ਵੈਨਕੂਵਰ) is a Sikh gurdwara organization in Vancouver, British Columbia, Canada.Founded in 1906, it is the oldest Sikh society in Greater Vancouver, and its original location was the largest gurdwara in North America. The current gurdwara is located at the intersection of Southwest Marine Drive and Ross Street, in South Vancouver.This recording reflects the Wikipedia text as of 00:18 UTC on Saturday, 15 February 2025.For the full current version of the article, see Khalsa Diwan Society Vancouver on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Mastodon at @wikioftheday@masto.ai.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm generative Kajal.

In this episode, we explore our predictions for the 2025 Vancouver Real Estate Market, diving deep into the economic and financial trends that will shape the year ahead. With Canada's GDP growth expected to remain moderate, driven by immigration and resource exports, the potential for a mild recession looms if elevated interest rates continue to slow consumer spending and business investment. We analyze the possibility of economic turbulence while discussing key signals in sectors like housing, manufacturing, and retail. Meanwhile, Canada's population growth is expected to drop considerably from before but will still be pushing the annual growth, to what extent remains to be seen. This sustained influx will fuel housing demand but could strain infrastructure and services.On the employment front, the unemployment rate, currently at 6.8%, is projected to remain somewhat stable within the 6.5%-8% range. While population growth could create new job opportunities, sensitive sectors like construction and tech may see some challenges. Inflation, sitting at 1.9%, is anticipated to close the year between 2.0% and 2.5%, assuming stable monetary policy and limited disruptions in energy prices or supply chains. This outcome largely depends on US trade policy which has yet to be sorted out. The Bank of Canada's interest rate, currently at 3.25%, is forecasted to ease slightly by year-end if inflation targets maintain and economic growth softens. In tandem, mortgage rates are likely to decline as well, with variable & potentially fixed rates dropping too. Despite these adjustments, Canada's mortgage arrears rate, historically low at around 0.15%, may see a slight uptick as households adjust to higher payments on renewals.Turning to real estate, we predict a steady recovery in sales volumes, with activity returning near the 10-year average, barring any significant rate fluctuations. The sales-to-active listings ratio which is currently signaling balanced market conditions may tick up into a Seller's market with more interest rate fluctuations. Inventory levels may see modest growth too as many who did not sell in 2024 will return to the market to try again. In the pre-sale market, developers are projected to cautiously release new projects, reflecting a gradual increase in buyer confidence. After an 8% decline in rental rates during 2024, the rental market is expected to stabilize though this will largely depend on immigration levels and the overall performance of the economy.In this episode we also highlight the top markets poised to outperform the Greater Vancouver region in 2025. We look at Surrey and Langley as they continue to attract buyers with affordability and infrastructure investment among a list of other locations that we strongly endorse. Tune in and find out which areas those are!This episode provides a comprehensive roadmap for navigating the opportunities and challenges of Vancouver's 2025 real estate market. Whether you're a buyer, seller, or investor, these insights will help you stay ahead in a shifting landscape. Tune in to learn more about what to expect and how to make informed decisions in the year ahead or book a one-on-one exploratory call with us and we'll help guide you through this recovering marketplace. _________________________________ Contact Us To Book Your Private Consultation:

In today's influencer-driven landscape, even the most experienced agents are losing deals to newer agents who do one thing differently - posting great content online.  The market doesn't just reward expertise - it rewards expertise, visibility and consistency, and that can be shown through the content we put out.  Social media content is a valuable asset in our businesses - especially in a down market. It is the marketing vehicle that validates us in the eyes of the consumer, fuels lead generation, reduces our marketing costs and makes us profitable.  In a tough market, it's tempting to pull back on our marketing efforts, but that actually cuts off a valuable revenue stream. This is the perfect time to double down on marketing and pour into our social media and sphere of influence.  How do we create content that guarantees current and future business? How do we leverage hyper-local, hyper-branded content?  In this episode, I'm joined by the CEO and co-founder of Roomvu, Sam Mehrbod. He shares how their platform (and partnership with ConstantContact) helps agents turn content into a solid source of business.    Things You'll Learn In This Episode  Entertaining, educational and enduring  If we're consistent about content creation, it can validate us and reduce our marketing costs. What kind of content should we post to achieve this? Hyperlocal and hyper-branded content Consistency and visibility are really important in today's real estate market. How does Roomvu help busy agents accomplish this in less time? Never stop marketing  The current real estate market has made many agents slow down or step to the sidelines. Why is this a huge mistake?  How to turn social media into a revenue stream Why do real estate agents who invest in content outearn and outlast everyone else?  Guest Bio Sam Mehrbod is an innovative entrepreneur in real estate technology. As the CEO and Co-Founder of Roomvu, he leads a platform that supports over 200,000 REALTORS® across the USA and Canada by delivering hyperlocal, personalized video content. As a TOP 1% REALTOR® in Greater Vancouver, Sam was recognized as a Medallion Club Member from 2018 to 2023 and ranked in the top 10% of REALTORS® in Greater Vancouver in 2018, 2019, and 2021. As a Forbes Council Member, Sam has shared his insights in prestigious outlets such as the Vancouver Sun, Business in Vancouver, the Daily Hive, Western Investor, CKNW Radio, and Forbes Magazine. To learn more, visit https://www.roomvu.com/.  About Your Host ​​Licensed Managing Broker, REALTORS®, avid volunteer, and Major Donor, Marki Lemons Ryhal is dedicated to all things real estate. With over 25 years of marketing experience, Marki has taught over 250,000 REALTORS® how to earn up to a 2682% return on their marketing dollars. Six-time REALTOR® Conference and Expo featured attendee, one of 100 speakers selected to speak the REALTOR® Conference & Expo five times, and an Inman closing Keynote Speaker. Marki's expertise has been featured in Forbes, Washington Post, http://Homes.com , and REALTOR® Magazine.   Check out this episode on our website, Apple Podcasts, or Spotify, and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you! 

Welcome to the first episode of The Vancouver Life Real Estate Podcast for 2025! As we kick off the new year, we start this year by reflecting on an intriguing 2024 in Greater Vancouver real estate. Today, we're unpacking December's freshly released market stats, analyzing how 2024 wrapped up, and exploring what's on the horizon for 2025.This is a special double-header episode where we'll revisit our 2024 real estate predictions to see where we were right, where we missed the mark, and what new trends are setting up 2025 to be a dynamic and potentially surprising year.Highlights from December reveal some fascinating trends. Sales reached their highest December total in three years, up 32% year-over-year, though still 15% below the 10-year average. New listings surged 26% year-over-year, marking the highest December total in three years. Inventory remains elevated, with December's levels the highest since 2018 and 25% above the 10-year average•The Sales-to-active ratios show balanced market conditions for the eighth consecutive month, with townhomes and apartments pushing us into the upper limits of a Balanced market.In terms of pricing, Vancouver's housing market defied more pessimistic predictions, with all three price metrics—HPI, median, and average prices—rising year-over-year. Notably, median prices climbed 4.5%, just 2% shy of the all-time high.As we dive deeper, we'll also compare Vancouver's performance to Toronto's market and national trends. While BC lagged behind the national average home price increase of 7.4%, it still holds the title for the highest average home price in Canada. Tune into the rest of the episode and find out where we right and where we went wrong as we review the predictions we made for 2024. _________________________________ Contact Us To Book Your Private Consultation:

In this inspiring episode, Maggie Perotin interviews Jennifer Jennifer Illsley-Hall, founder of Deliberate Decisions, a professional organizing company. Jennifer shares her remarkable journey from accidentally discovering her natural organizing talents to building a successful professional organizing business in British Columbia, Canada. Tune in to this episode to learn how vulnerability, trust, and professional guidance can transform both clients' lives and business growth.Key Highlights: [00:01:00] - Jennifer's origin story: How an accidental closet organization led to a business [00:04:00] - Why hiring a professional organizer makes sense [00:05:00] - The importance of vulnerability in transformation [00:07:00] - Powerful transformation story of one of Jennifer's clients[00:13:00] - Jennifer's business transformation through coaching [00:18:00] - Overcoming the fear of public speaking [00:22:00] - The power of strategic partnerships [00:25:00] - Future vision and business growthKey Takeaways: • Not everyone has natural organizing abilities - it's a unique skill set worth outsourcing • Professional organizing often addresses deeper life transitions and emotional needs • The importance of building trust and creating safe spaces for clients • How business coaching can transform both personal confidence and business results • The value of pushing through comfort zones for business growthNotable Quote: "Vulnerability is absolutely key to a really awesome transformation." - JenniferAbout Jennifer Illsley-Hall and Deliberate Decisions: Jennifer serves clients throughout the Lower Mainland and Greater Vancouver area, specializing in: • Home organization • Downsizing/Upsizing assistance • Moving services • Estate clearings • Professional declutteringConnect with Jennifer: https://www.deliberatedecisions.ca/IG - https://www.instagram.com/deliberatedecisions/LinkedIN - https://www.linkedin.com/in/jennifer-illsley-hall-professional-organizer/Ready to Transform Your Business Like Jennifer? Book a free consultation with Maggie Perotin at https://stairwaytoleadership.com/ and discover how business coaching can help you achieve similar results. Jennifer doubled her revenue in just one year - you could be next!