What went down at TL Insider’s Fireside Chat with Greybrook
A s anticipation grows for the city’s reopening, TL Insider has been forecasting what post-pandemic Toronto will look like through the Future of Downtown Summit. The event series has featured an inspiring lineup of city-builders and visionaries in disciplines spanning food, politics, finance and more. On May 18, members joined Sasha Cucuz, CEO of Greybrook Securities Inc., for an important Fireside Chat on Toronto’s comeback from a development investor’s point of view. In conversation with Sasha was Jason Maghanoy, associate publisher of Canadian Business and head of business development at St. Joseph Media.
To understand the future of Toronto’s residential development is to understand Greybrook’s investment philosophy. The company has over 60 projects currently under way across the GTA and the U.S., and Sasha shared with TL Insider the firm’s investment criteria, why they invest in Toronto, and the importance of a planning philosophy that encourages a “live, work, play” approach—something he believes Toronto’s urban planning has embraced wholeheartedly. “It creates a really vibrant place to live,” he said. “There’s so much residential density in proximity to all the amenities of the city.” According to Sasha, this is an important aspect of what distinguishes some cities across Canada, and in the U.S., from a historical philosophy that compartmentalized these necessities and left downtown areas largely deserted after work hours. Most importantly, he shared how vital a role this philosophy will play in Toronto’s post-pandemic comeback. Later in the virtual chat, Sasha shared his optimism for reopening, walking members through details of some of Greybrook’s most exciting new projects, and specifying which neighbourhoods he feels are destined to flourish.
Toronto’s comeback is largely dependent on how its residents feel about returning to public spaces. Sasha shared how Greybrook’s recent investment and partnership with Delos, a global pioneer in human health and wellness in indoor environments, is helping Canadian businesses and real estate owners create healthier indoor spaces that will support a safe return to the city. “It’s all about inspiring confidence to get people back. I think it’s very important for business leaders in Canada, both in the corporate and development community, to set an example at home, as well as globally, and really help inspire confidence,” he said.
The International WELL Building Institute, a wholly owned subsidiary of Delos, is the creator of the WELL building standard. It has been supporting businesses and building owners around the world achieve IWBI’s evidence-based, third-party-verified WELL Health-Safety
Rating, with the help of high-profile ambassadors including Jennifer Lopez, Lady Gaga and Robert De Niro. It has been adopted by large office portfolios, restaurants, sporting venues and even the Vatican. In Canada, leading organizations such as Brookfield Properties, Scotiabank Arena and Greybrook are among the early adopters to achieve the
WELL Health-Safety Rating, with over one billion square feet in Canada registered to achieve the safety rating or WELL certification. Greybrook believes that’s a vital step in positioning Toronto for a comeback, and will be critical for the city’s resilience going forward. “We spend 90 per cent of our lives indoors, and it took a pandemic for us to really think about the impact our indoor environment has on our health.”
Members had the opportunity to jump into the discussion during a Q&A session, where topics such as development regulations, affordability and Greybrook’s partnership with Delos Canada were covered. The event was a unique opportunity to stay abreast of our city’s rapid transformation—something long-time Torontonians are well aware you could miss in the blink of an eye.