Real Estate Development: The Curtis Way

The RMS Group
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Ever looked at a vacant piece of land and wondered how it becomes an apartment building, shopping centre, or thriving commercial property? Join the team at RMS Group as they pull back the curtain on the world of real estate development. Through conversations with developers, investors, lenders, brokers, lawyers, property managers, and construction professionals, we'll explore the wins, the mistakes, the risks, and the opportunities behind every project. From proformas and financing to market cycles, approvals, construction and property management, this podcast is designed for aspiring developers, experienced investors, and anyone interested in how great real estate projects get built. Real stories. Real deals. Real lessons from the people doing the work every day.

  1. Sep 8

    Municipal Approval Process – Edmonton & Calgary with guest Shaun Visser

    Before you buy the land or start designing the building, you need to understand what you can actually build. In this episode of the RMS Real Estate Development Podcast, Curtis Way sits down with Shaun Visser, Partner at BR2 Architecture, for a practical conversation about planning, zoning, rezoning and the municipal approval process that developers must navigate before construction can begin. With nearly three decades at BR2 Architecture, Shaun has worked across a wide range of projects including commercial, industrial, institutional, recreational, seniors housing and multifamily developments. He shares an architect's perspective on how successful projects move from an initial concept through zoning, development permits and ultimately building permits. Curtis and Shaun discuss what happens when a developer's vision doesn't fit the existing zoning, the difference between seeking a variance and pursuing a full rezoning, and why community consultation can become an important part of the process. They also explore why approvals can take months or even more than a year, particularly on more complicated developments. The conversation also looks at the importance of assembling the right consultant team, dealing with different municipal departments, navigating overlay plans and understanding how requirements can vary between communities and provinces. Most importantly, Shaun explains why developers should engage with municipalities early. Pre-application meetings and early conversations with planners can uncover potential problems while a project is still being designed, rather than discovering them months later during the approval process. In this episode: What developers should investigate before designing a projectUnderstanding zoning requirementsVariances versus rezoningHow the rezoning process worksWhy community consultation mattersWorking with municipal administration and councilChoosing the right architects, engineers and consultantsWhy the individual matters as much as the consulting firmDifferences between municipalities and provincesWhy rezonings can take a year or longerDevelopment permits versus building permitsWhy municipal approvals sometimes get delayedOverlay plans and direct control zoningIncreasing municipal requirements during development approvalsThe growing role of fire departments in project approvalsWhy pre-application meetings can save developers time and moneyThe value of building relationships with municipal plannersFor developers, the message is straightforward: do your homework early. Understanding the zoning, identifying potential approval issues and getting the right people around the table before you've invested heavily in a project can prevent expensive surprises later. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  2. Aug 25

    Commercial Construction Overview

    Successful real estate developments are built long before construction begins. In this special combined interview episode of the RMS Real Estate Development Podcast, Curtis Way is joined by three experienced construction professionals to discuss the realities of delivering successful projects in today's market. The first conversation features David Powick and Mike Fraser from RMS Group, focusing on multifamily construction. The second features Chris Fillmore, President of Fillmore Construction, sharing insights from more than three decades in commercial construction. Together, they explore the challenges developers face throughout the construction process, from assembling the right consultant team and selecting qualified contractors to navigating permits, inspections, supply chain disruptions and labour shortages. The discussion also examines the differences between construction management and fixed-price contracts, how experienced contractors help reduce project risk, and why communication, planning and strong relationships are critical to keeping projects on schedule and on budget. Whether you're building apartments, commercial developments or considering your first real estate project, this episode provides practical advice that can help you avoid costly mistakes and better understand the construction process from start to finish. In this episode: Building the right consultant and construction teamChoosing contractors and evaluating experienceCommon construction challenges and how to solve themRenovation versus new constructionManaging change orders and project delaysBuilding permits, inspections and occupancy approvalsSupply chain challenges and material availabilityLabour shortages and managing today's workforceConstruction management versus fixed-price contractsManaging project risk before construction beginsWhy scheduling is one of the most valuable assets on any projectHow owners should evaluate and qualify general contractorsLegal considerations, liens and contractor relationshipsLessons learned from decades of commercial and multifamily constructionOne of the biggest themes throughout the episode is that successful construction projects are built on preparation, communication and experience. The right consultants, contractors and project team can often prevent expensive problems long before they appear on the job site. Whether you're an experienced developer or just beginning your real estate journey, this episode offers valuable insights into how successful projects are planned, managed and delivered. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  3. Aug 11

    Property Management: The Good, The Bad, and The Ugly.

    Owning an apartment building is one thing. Managing it successfully is another. In this episode of the RMS Real Estate Development Podcast, Curtis Way sits down with Laura Way-Olenek, President of RMS Group, to discuss the fundamentals of exceptional property management. Drawing on more than two decades of experience, Laura shares practical strategies that help owners protect their assets, improve tenant retention and maximize long-term property performance. The conversation explores why today's renters are staying longer than ever before, how creating a sense of community has become a competitive advantage, and why successful property management is built on disciplined systems rather than flashy ideas. Laura also discusses the importance of documentation, preventative maintenance, vendor management, staffing, operating expenses and understanding Alberta's residential tenancy legislation. Throughout the episode, she explains how strong operational practices not only improve the tenant experience but also protect the long-term value of the asset. Whether you're an apartment owner, developer, investor or property manager, this episode offers practical advice that can help improve operations, reduce costs and build stronger rental communities. In this episode: Why consistency is the foundation of great property managementHow tenant expectations have changedCreating communities that improve tenant retentionSmart home technology and today's rental experienceWhy documentation protects owners and property managersManaging maintenance, repairs and capital expensesStaying competitive without racing to the bottom on rentsChoosing and managing service vendorsStaffing challenges in property managementProactive versus reactive maintenanceUnderstanding Alberta's Residential Tenancies legislationCollections, evictions and tenant insuranceBuilding systems that protect long-term asset valueOne of the biggest takeaways from the conversation is that successful property management isn't about reacting to problems. It's about building consistent processes, maintaining strong relationships and making disciplined decisions every day. Great property managers don't just operate buildings. They protect investments and create communities where people want to live. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  4. Aug 4

    Joint Venture, Financial Partners, & Limited Partners (with guest Darin Rayburn)

    Every real estate development needs capital, but choosing the right investment partner can be just as important as choosing the right project. In this episode of the RMS Real Estate Development Podcast, Curtis Way is joined by Darin Rayburn, President of the Real Estate Equity Division at KB Capital. With more than 35 years of experience leading major real estate organizations, including Cambridge Shopping Centres, Oxford Properties, Melcor Developments and now KB Capital, Darin shares practical insights into how developers and investors structure successful real estate partnerships. The conversation explores the differences between joint ventures, limited partnerships, equity investments and REITs, while providing a behind the scenes look at how professional investors evaluate development opportunities before committing capital. Darin explains why experience and track record matter, how lenders and equity partners assess risk differently, and why understanding the downside of every deal is just as important as believing in the upside. Whether you're an experienced developer looking to structure your next project or a first time investor considering real estate partnerships, this episode offers practical guidance on raising capital, managing risk and choosing the right partners. In this episode: Darin's journey through more than 35 years in commercial real estateHow KB Capital evaluates investment opportunitiesWhy developer experience and track record matterThe difference between debt financing and equity investingHow professional investors underwrite riskWhy liquidity and cash calls matterJoint Ventures vs. Limited PartnershipsThe pros and cons of investing through REITsUnderstanding investor control, liability and liquidityQuestions every investor should ask before committing capitalHow to protect yourself when investing in development projectsWhy partnership agreements are critical to every dealOne of the key messages throughout the discussion is that successful real estate investing is not just about finding a good project. It is about partnering with the right people, understanding the risks and structuring the deal properly before construction ever begins. As Darin explains, the work that happens before the shovel hits the ground often determines whether a project succeeds or struggles. Whether you're developing apartments, industrial buildings, retail or commercial real estate, understanding how sophisticated investors think can help you become a better developer and make smarter investment decisions. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  5. Jul 28

    Who Will Solve the Housing Crisis? (with Guest Derek Lobo)

    Who should be leading Canada's response to the housing crisis? In this episode of the RMS Real Estate Development Podcast, Curtis Way is joined by Derek Lobo, Founder of Rock Advisors and Founder of the National Apartment Council of Canada (NAC). Together, they discuss why Canada's private apartment developers are essential to solving the country's growing housing shortage and why the industry needs a stronger voice in shaping public policy. Drawing on decades of experience advising apartment developers across Canada, Derek shares why he created the National Apartment Council and how the organization is working to advocate for practical solutions that encourage rental housing development. The conversation explores the disconnect between government policy and the realities of apartment development, while highlighting how thoughtful legislation can unlock private investment and accelerate the construction of much-needed rental housing. Topics include: Why private developers build approximately 90% of Canada's rental housingThe creation and mission of the National Apartment Council (NAC)Why Canada's apartment industry needs stronger representationLessons from the U.S. National Multifamily Housing CouncilThe role of private capital in addressing Canada's housing shortageHow tax policy can encourage new apartment constructionThe proposed return of the MURB (Multiple Unit Residential Building) programWhy long-term apartment ownership differs from condominium developmentThe importance of CMHC financing and collaboration with governmentRegional differences in housing markets across CanadaWhy developers need a seat at the table when housing policy is createdIntergenerational succession planning for family-owned development companiesLong-term solutions for increasing Canada's rental housing supplyDerek also explains why Canada's housing challenges cannot be solved through a single policy or government program alone. Instead, he argues that sustainable solutions require collaboration between governments, developers, lenders, investors, and industry organizations that understand the complexities of apartment development. One of the most compelling takeaways from the conversation is that Canada's private apartment developers have quietly provided the vast majority of the country's rental housing for decades. By creating policies that encourage investment, reduce unnecessary barriers, and support long-term development, Canada has an opportunity to dramatically increase housing supply while strengthening communities across the country. Whether you're a developer, investor, policymaker, lender, or simply interested in the future of housing in Canada, this episode offers valuable insight into one of the country's most important economic and social challenges. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  6. Jul 21

    Construction – A Legal Perspective

    What are the biggest legal mistakes developers make—and how can you avoid them before they cost hundreds of thousands of dollars? In this episode of the RMS Real Estate Development Podcast, Curtis Way is joined by construction lawyer Bryan Kwan, Partner at MacLennan Ross LLP, to explore the legal side of commercial real estate development. From construction contracts and change orders to builders' liens, litigation, arbitration and project documentation, Bryan explains how legal decisions made before construction begins can determine whether a project runs smoothly—or ends up tied up in years of costly disputes. The conversation provides a practical look at how developers, contractors and owners can better allocate risk, manage contracts and avoid common pitfalls throughout the construction process. In this episode you'll learn: The difference between fixed-price and construction management contractsHow CCDC contracts allocate risk between owners and contractorsWhy supplementary conditions can dramatically strengthen a construction contractThe most common causes of construction litigationHow poorly managed change orders lead to expensive disputesWhy documentation can make or break a legal caseWhat construction liens are and why they stop financing immediatelyHow lien claims are removed from titleWhat every developer should know about Alberta's Prompt Payment and Construction Lien ActWhy construction lawsuits often take years to resolveThe advantages of mediation and arbitration over traditional litigationWhy investing in legal advice early can save enormous costs laterBryan also walks through Alberta's construction litigation process—from statements of claim and document discovery to examinations, mediation and trial—giving listeners a realistic understanding of what happens when projects end up in court. One of the key themes throughout the discussion is that the best legal strategy is prevention. Well-drafted contracts, clearly defined scopes of work, disciplined documentation and experienced advisors dramatically reduce the likelihood of disputes and improve outcomes when disagreements do arise. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  7. Jul 14

    Commercial Financing – Finding Money

    What separates a financeable development from one that never gets approved? In this episode of the RMS Real Estate Development Podcast, Curtis Way is joined by Brandon Kot, Managing Partner at Canada ICI, to explore how commercial lenders evaluate real estate projects across Canada. Drawing on billions of dollars in annual commercial mortgage placements, Brandon provides an insider's perspective on what lenders are really looking for when they assess apartment developments, industrial buildings, retail centres, office projects and land acquisitions. The discussion breaks down the commercial lending landscape from traditional bank financing and life insurance companies to pension funds, private lenders and mezzanine financing, while explaining how each plays a different role in today's market. Beyond financing mechanics, Brandon shares why strong cash flow, experienced developers and conservative underwriting continue to be the foundation of successful projects, regardless of market conditions. In this episode you'll learn: How commercial real estate financing actually worksUnderstanding the capital stack: debt vs. equityWhy lenders focus on repayment before anything elseWhen higher loan-to-value financing makes senseHow mezzanine financing differs from traditional lendingWhich property types are easiest and hardest to financeWhy Alberta remains one of Canada's strongest lending marketsHow lenders assess sponsors versus tenantsThe importance of execution, liquidity and experienceCommon reasons development projects failWhy conservative underwriting protects developersHow interest rates, inflation and capital markets affect commercial lendingWhy surrounding yourself with experienced advisors can dramatically improve your chances of successCurtis and Brandon also discuss the broader Canadian economy, affordability challenges, and where commercial capital is flowing today. They explain why lenders remain optimistic about Alberta's long-term prospects and why predictable cash flow continues to drive financing decisions across every asset class. One of the biggest takeaways from the conversation is that financing isn't simply about securing the highest possible loan, it's about demonstrating that your project can successfully execute and repay that debt under realistic market conditions. For developers, preparation, conservative assumptions and the right advisory team can make all the difference. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

  8. Jul 7

    Apartment Financing/CMHC – What You Need to Know

    How do apartment developers secure financing for projects worth tens or even hundreds of millions of dollars? In this episode of the RMS Real Estate Development Podcast, Curtis Way sits down with Jessica Harland, Senior Vice President with CBRE Capital, to break down the financing process behind modern multifamily developments. Drawing on her experience as both a lender and a former CMHC professional, Jessica walks through the programs, requirements, risks, and realities developers face when securing construction financing for apartment projects. The conversation explores how CMHC financing programs have transformed rental housing development in Canada, why Alberta remains one of the country's strongest markets for purpose-built rentals, and what developers need to understand before submitting an application. Topics Include: • Understanding CMHC financing programs for apartment development• CMHC MLI Select versus conventional financing• Affordable housing, energy efficiency and accessibility incentives• How much equity developers really need to contribute• The importance of a strong development pro forma• Cost consultants, appraisals and due diligence requirements• Working effectively with lenders and mortgage brokers• Construction financing approvals and timelines• Bonding requirements and alternatives such as letters of credit• Corporate guarantees, personal guarantees and recourse requirements• Interest rate assumptions and takeout financing strategies• Managing construction delays and cost overruns• Common mistakes developers make during the financing process• Why project management and documentation matter as much as financing Jessica also explains why having the right financing team is critical, especially for newer developers entering the multifamily space. From application preparation to final loan conversion, the episode highlights how seemingly small decisions can have significant impacts on project success. Whether you're building your first apartment project or expanding an existing portfolio, this episode offers a practical look at how financing decisions influence every stage of development. One key takeaway from the discussion: successful financing starts long before the loan application. It begins with a well-prepared pro forma, experienced advisors, and a clear understanding of the risks and requirements involved in bringing a project to life. To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

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Ever looked at a vacant piece of land and wondered how it becomes an apartment building, shopping centre, or thriving commercial property? Join the team at RMS Group as they pull back the curtain on the world of real estate development. Through conversations with developers, investors, lenders, brokers, lawyers, property managers, and construction professionals, we'll explore the wins, the mistakes, the risks, and the opportunities behind every project. From proformas and financing to market cycles, approvals, construction and property management, this podcast is designed for aspiring developers, experienced investors, and anyone interested in how great real estate projects get built. Real stories. Real deals. Real lessons from the people doing the work every day.

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