September 14, 2023
Association News
Mentorships are a cornerstone of our industry, serving as a conduit for knowledge, personal and professional development. For mentors, they offer a unique avenue to contribute and hone their leadership acumen. For protégés, they present a valuable prospect to acquire insights and direction while broadening their professional connections.

Submit your application(s) to the BOMA Mentorship Program before Sept 18th. Once accepted, you will receive a confirmation email and a link for a DiSC assessment. In October, the program begins with four workshops to cover importnant details, mentor-protégé roles, building strong mentoring relationships, and developing essential career skills.
Join us this October in Kelowna for our second Okanagan Luncheon of the year. Registration is open - Full event details coming soon!

Thursday, October 5th, 2023
11:30 AM - 1 PM PDT
Grand Okanagan Resort
1310 Water Street, Kelowna BC
We had a collection of new members join the Association in July + August. Please join us in welcoming them to BOMA BC!
Next month, BOMA's TNP "toast" to fall and to celebrate their 5th(!) Breakfast Club event - Register your seat(s) early!

Wednesday, October 11th, 2023
8:30 AM - 10 AM PDT
Palate Kitchen 
848 West Hastings Street
A huge thanks to our exceptional volunteers, generous sponsors, and enthusiastic participants who made our annual golf tournament an unforgettable success! Your unwavering dedication continues to drive our mission to support the industry. 

A special thanks to the following sponsors:
Alpine Building Maintenance - Lunch Sponsor
Ultra-Tech Cleaning Systems - Signage Sponsor
Integral Services Group - Massage Tent Sponsor
Johnson Controls - Golf Ball Sponsor
Priority Building Services Ltd. - Sponsor Co-Sponsor
First Onsite Property Restoration - Wine Co-Sponsor
GDI Integrated Facility Services - Wine Gift Sponsor

And our on-course food and beverage sponsors:
Acera Insurance
Community Fire Prevention
Fire-Pro Fire Protection
Guardteck Security Corp.
Haakon Mechanical Services
Paladin Security Group Ltd.
Somatic  Mechanical Electrical Plumbing

And finally, to all of our hole sponsors; we couldn't have done this without you!
View the event photo album and video (see link below)
Government Affairs
Between August 24 and September 17, the City of Vancouver seeks public input to help inform the 2024 Budget. They hope to learn what areas and services you think the City should prioritize in the coming year and your preferred financial tools for balancing the budget, including property taxes.
Source: Daily Hive Urbanized
Premier David Eby released a letter criticizing the Bank of Canada’s planned interest rate increase, saying that “People in BC are already hurting.”
Are you interested in joining a Vancouver agency?

Vancouver’s civic agencies are appointed by council and advise on city priorities, projects, and initiatives. Starting September 12th, 2023, you can apply to volunteer on one of many of Vancouver’s exciting agencies and communicate the city’s perspective to council. Apply to join a planning committee, advisory panel, or planning commission.

Visit and apply for an opening vacancy until October 8th, 2023.
GardaWorld Global Headquarters
Grime Fighters Service Group
Events & Education
Summer's scorching heat can harm your roof. UV rays and high temperatures can lead to cracks and leaks. Regular inspections by trained technicians are vital to catch and fix issues early.
Don't wait for leaks; act now while the fall sun shines. Learn more in the full article about safeguarding your roof through preventive maintenance.
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For over 50 years, Bee-Clean Building Maintenance has been providing expert cleaning, restoration, consulting and facilities services to valued clients in the public and private sectors, 24 hours a day, 365 days per year: Our Business is taking care of yours.
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Good to Know
Vancity Credit Union recently launched a Retrofit Financing Program, offering financial support to businesses and non-profits that own commercial properties. The program aims to promote climate-friendly retrofits, reduce carbon footprints, and improve building performance. Key features include preferred pricing for buildings meeting a 30% GHG emission reduction, flexible lending options, extended mortgage terms, and custom performance reports. Qualifying properties can expect lower costs, increased value, and resilience against future climate impacts.

To learn more, please visit the link below.
Source: Real Estate News Exchange
Urban regeneration strategies should be part of a city’s larger sustainability plan as more municipalities approve zones for multi-use spaces.
Reotech Construction Ltd.
Ultra-Tech Cleaning Systems Ltd
Event Calendar
Sep 2023
BOMA September Luncheon - Decarbonizing Developments
11:30 AM - 1:30 PM PDT | Emerald Ballroom, Fairmont Pacific Rim, 1038 Canada Place, Vancouver, BC
Oct 2023
QBT Session (Hybrid)
11:30 AM - 1 PM PDT | 1035 West Pender Street, Hastings Meeting Room, Vancouver, BC + Zoom
Oct 2023
BOMA Okanagan Luncheon
11:30 AM - 1 PM PDT | Grand Okanagan Resort, 1310 Water Street, Kelowna, BC
Oct 2023
TNP Breakfast Club #5
8:30 AM - 10 AM PDT | Palate Kitchen, 848 West Hastings Street, Vancouver, BC
Oct 2023
BOMA October Luncheon - Save-the-date!
11:30 AM - 1:30 PM PDT | The Roof, Fairmont Hotel Vancouver, 900 West Georgia St, Vancouver, BC
Oct 2023
BOMA BC Victoria Chapter | Luncheon - Save-the-date!
11:30 AM - 1:30 PM PDT | Hotel Grand Pacific, 463 Belleville Street, Victoria, BC
Nov 2023
BOMA November Luncheon - Save-the-date!
11:30 AM - 1:30 PM PDT | Mackenzie Ballroom, Fairmont Hotel Waterfront, 900 Canada Place, Vancouver, BC
Nov 2023
BOMA Victoria Chapter | Christmas Luncheon - Save-the-date!
11:30 AM - 2 PM PST | Grand Pacific Hotel, 463 Belleville Street, Victoria, BC
Dec 2023
BOMA Christmas Luncheon - Save-the-date!
11 AM - 2 PM PST | BC Ballroom, Hotel Vancouver, 900 W Georgia Street, Vancouver, BC
National News
Source: CommercialBloomberg
McKinsey Global Institute estimates that pandemic shifts could erase as much as $1.3 trillion of real estate value in big cities around the world by 2030. “Everyone is asking, ‘Is this going to come back?’” said adviser Phil Kirschner.
Source: REMI Network/Canadian Property Management
Canadian hotel investment surpassed pre-COVID levels for the first time in the first half of 2023 as more than $1 billion worth of hotel deals were completed.
Source: REMI Network
A report found that only 19 per cent of Canadians are working from home permanently, compared to 27 per cent who worked from home in 2022, as hybrid work models become more common.
Around the Industry
Source: BCREA
In Q2 2023, the BCREA Commercial Leading Indicator (CLI) increased by 0.6 points to 147, with a six-month moving average at the same level. However, it was 4.7% lower compared to Q2 2022. It's important to note that the commercial real estate environment remains abnormal and uncertain due to COVID-19's structural impact on the economy, despite positive economic and office employment growth indicators.
Source: Daily Hive Urbanized
The office building planned for the redevelopment at 8 East Broadway will now feature apartment rentals instead of the originally planned 104,000 sq ft of office space.
Source: Western Investor
The Community Impact Real Estate Society aims to make commercial spaces in gentrified communities affordable for the non-profits that would have otherwise been pushed out of the area.