It's Time for SHURE Initiative Wisdom Wednesday!
Welcome to The SHURE Initiative (The Student Housing and University Real Estate Initiative), a global network of influential decision-makers in our field.
Today, we're thrilled to feature insights from Oscar Lisa, a key member of the Investment Division at Fitzrovia in Canada. Oscar recently participated in an engaging SHURE Initiative event, and his expertise is invaluable. We are excited to share his insightful summary comments with you.
Don't miss the chance to connect with Oscar—just scan the QR code in the video! Also, be sure to follow The SHURE Initiative (The Student Housing and University Real Estate Initiative) if you're involved in student housing or university real estate!
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SHURE stands for the Student Housing and University Real Estate Initiative, a global association created to unite leaders in post-secondary education and student accommodation. Our mission emphasizes the ecosystems within higher education and surrounding communities, highlighting the importance of academics, food services, transportation, and housing in student life and institutional effectiveness.
**Join the SHURE Membership today and connect with global innovators for just $39!**
The SHURE Initiative Membership is the most comprehensive resource for university planners, C-suite executives, and property technology leaders to share global best practices and strengthen business relationships. >> https://shure.international/product/shure-premium-membership
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Oscar Lisa, an associate director of investments at Fitzrovia Real Estate, discusses the company's focus on developing high-quality student accommodations in Toronto and Montreal, with approximately 9,000 units in the pipeline and $10 billion in assets under management. Their successful project, Waverley College, became primarily occupied by University of Toronto students, achieving full occupancy within six months and 15% annual rent growth.
Fitzrovia is now targeting sites in five key southern Ontario markets—London, Kitchener, Waterloo, Guelph, Hamilton, and Kingston—to replicate this model. Location is critical, with a preference for properties within a 10-minute walk from campuses. Their in-house property management enhances resident engagement, and they secure capital from large financial institutions.
Challenges include acquiring land in smaller markets where landowners expect high prices. Despite initial concerns, Waverley College has experienced minimal issues, likely due to high rents and a studious atmosphere. Since 2018, they have been exempt from rent control, allowing for moderate annual rent adjustments to maintain good landlord-tenant relationships.
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