For the residents of Avenue Living, enhanced technology now gives quicker and better access to services, as well as faster turnaround times on work orders. It also means signing a lease is much more simple. The company is also embracing more real-time data analytics.
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Avenue Living Asset Management has ambitious plans to aggressively grow its commercial real estate portfolio. The Calgary-based real estate company is planning to expand its current commercial portfolio from about 400,000 square feet to more than one million in 2020.
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Avenue Living Asset Management is on a steady acquisitions trajectory, with an expansion initiative that targets surpassing 10,000 multi-family units by the end of 2019.
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Nathan Ubaldo thrives on challenges in his role as residential portfolio manager for Avenue Living Communities in Swift Current, Saskatchewan. “When I fix something, it makes me feel happy. When I see our residents happy about the outcome of the work, I feel proud of that.
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Avenue Living Communities has launched its latest #AvenueGiving initiative – a food drive and fundraising campaign for the Medicine Hat & District Food Bank. The campaign goal of Feeding Friends is to raise $15,000 in donations to the food bank. Avenue Living donated $5,000 to kick off the effort, which runs until July 6.
With 10 per cent of the Medicine Hat community using the food bank on a regular basis, Avenue Living Communities has launched its latest #AvenueGiving initiative – a food drive and fundraising campaign for the Medicine Hat & District Food Bank.
The campaign goal of Feeding Friends is to raise $15,000 in donations to the food bank. Avenue Living donated $5,000 to kick off the effort, which runs until July 6.
“We wanted to give back to our community, and support the hardworking efforts of the Medicine Hat food bank,” says Monica Layden, Residential Portfolio Manager for Avenue Living Communities. “As part of the Feeding Friends campaign, we encourage our residents and everyone in Medicine Hat to stop by the office and drop off non-perishable items of food.
“The food bank does so much for the community and helps the people in need. People that are struggling. I felt it was really important for us as a company to be able to give back to the community and show that we’re a part of this community.”
The need has become more urgent in the last few years with the downturn of the economy, particularly in the oil and gas sector.
Both food and financial donations will be collected at the Avenue Living office at 1027 South Railway Street. The office is open seven days a week and people can also donate online at avenueliving.ca.
“We’re doing social media and we’ve let all of our tenants know that we’re doing this,” says Layden. “And at the end of the campaign, we’re going to be having a barbecue just to celebrate what we have achieved.”
Celina Symmonds, Executive Director of the Medicine Hat & District Food Bank, says one in 10 households in Alberta experience food insecurity. It’s no different in Medicine Hat.
“Last year alone we served 11,771 individuals, of which 6,718 were children,” says Symmonds. “We gave out 740,210 pounds of food. It’s important to note that the food bank is not government funded. It’s funded completely by our community. So donation dollars here are extremely important and really the only way that we survive here. Our volunteers donated over 15,000 hours last year. We also serve 500 to 700 brown bag lunches every single school day in our community.”
Symmonds says the food bank relies 100 per cent on donations from the community so when companies like Avenue Living come forward and support the organization, it’s certainly the “bread and butter” in ensuring people in the community have access to much-needed food.
“The need in the community is extremely high,” she says. “And for folks that are experiencing food insecurity, the food bank is more than just food. It’s also community and creating opportunities to get out of poverty and learn skills, as well as creating relationships within the community so that they’re not alone. It’s a big picture of how we support those in our community who are most vulnerable.”
This is the second campaign in the Avenue Living Communities’ new community-focused event series: #AvenueGiving. The first was Brown Bagging for Calgary’s Kids – a grassroots-focused and community-funded organization that works with people throughout Calgary to feed kids who would otherwise go without a healthy lunch at school. The mission of #AvenueGiving is to give back to those in need, with a focus on ALC centres across Western Canada, where Avenue Living has more than 8,500 residential rental units.
Every single building bought by Avenue Living Asset Management gets an upgrade. Avenue Living has spent millions of dollars renovating properties to increase value for residents as well as enhancing their experience of living in rental units. It also enhances the value of the portfolio for the company’s investors.
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While C-suite diversity in Canada has been a challenge for many companies, Avenue Living has been a leader in fostering gender diversity in its executive roles. A strong female presence in its corporate office is a key pillar for the Calgary-based company’s success.
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“I am honoured to be joining the Avenue Living team,” said Brad Wall. “This is a great Canadian business and one of western Canada’s most significant housing providers. They have a strong presence in Saskatchewan, a solid record for reinvestment and a vision for growth.”
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“I still go back to the farming and where you were brought up,” says Daffy, who grew up on a ranch in the Medicine Hat area, raising cattle and growing wheat. “If somebody needs a hand, you go help them. It gets returned tenfold over.”
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“Workforce housing isn’t a term we coined or created, but our business model is focused on it,” says Jason Jogia, Chief Investment Officer for Avenue Living Asset Management, which owns and operates more than 8,000 multi-family rental residences across many Western Canadian markets.
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With more than 8,000 residential rental units across Western Canada, the Call Centre could be considered the heart of Avenue Living Communities. Recently, significant changes in Call Centre operations have upgraded the service to prospective customers looking for information to rent one of the company’s units.
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Avenue Living has completed analysis on the portfolio concentration of the largest multi-family owners and operators in Canada. Much of our Prairie peer group is more focused in primary markets (Calgary, Edmonton, Regina, and Saskatoon) leaving the secondary Prairie markets less institutionally owned. This inherently generates acquisition opportunities.
Please see this link to view our downloadable PDF: Opportunity in a Fragmented Market
Economic realities like rising interest rates and the stricter mortgage stress test are making it tougher for Canadians to purchase homes these days, causing renting to become a much more desirable option.
That scenario has benefited Calgary-based Avenue Living Asset Management which holds an 8,000+ residential rental unit portfolio in Alberta, Saskatchewan and Manitoba.
Continue readingAfter several years as a facilities manager, Ali Sebbahi’s new focus will be even larger: Regional Construction Manager. “If there’s a bigger job to be done like siding, parking lots, common areas or suite renovations where they need lots of work and we’re hiring a third-party contractor, that’s where I step in.”
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“The lunches that we made in the morning, the kids were eating by noon,” says Zora Roberts, President of ALC, who volunteered for duty in making sandwiches on Monday. “We’re across 18 communities in Alberta, Saskatchewan and Manitoba and our philosophy is to be involved with the grassroots of every community.”
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“Since the upgrade we’ve had an uptick on website traffic of about 13 to 15 per cent. We’ve received a lot of emails and testimonials from current tenants, prospects and vendors saying the difference between our previous website and our current website has been day and night.”
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The Avenue Living Agricultural Land Trust has ballooned in the past two years to include more than 25,145 acres in assets with a value of about $32 million and a strategy to aggressively expand in the near future. All of the Land Trust’s land holdings are currently in Saskatchewan.
Continue reading“I am fascinated by our core values. They are the DNA of Avenue Living and I breathe them. They should not only underpin how we do business but they should also shape the decisions made by each and every employee on a day-to-day basis. For me, core values are the DNA of a company.”
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“It is my pleasure to extend a special welcome to Avenue Living Communities on joining the WHL’s family of corporate partners,” commented WHL Commissioner Ron Robison. “We are looking forward to Avenue Living Communities participation in many of our WHL Canadian markets this season through game nights and other assets.”
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