RE #184: Kendal Harazny - Co-Founder of Wexford - Developing amazing urban projects in Canada & USA
Kendal Harazny is a Principal and Co-founder of Wexford Developments, a real estate development, investment and management company. Wexford has completed over $500 million of development, currently has $500 million in assets under management, and has an upcoming development pipeline exceeding $400 million, including over 900 units breaking ground in 2022. Focused on Western Canada and the Southwestern United States, Wexford is primarily involved in urban mixed-use residential projects, but has also developed substantial land, retail and industrial assets.
In this episode, Kendal and Chris discuss an array of topics such as the differences in Canada vs. the United States and what it takes to develop a generational asset. They also chat about how Wexford identifies and selects projects to work on and why design matters and how to communicate to neighboring stakeholders and much more!
Follow Chris on Twitter: https://www.Twitter.com/FortWorthChris
Follow Chris on LinkedIn: https://www.linkedin.com/in/chrispowersjr/
Learn more about Chris Powers & Fort Capital: https://www.FortCapitalLP.com
Follow Fort Capital on LinkedIn: https://www.linkedin.com/company/fort-capital/
Listen & Subscribe on Spotify: https://open.spotify.com/show/7oIeNSaSJ4zkTQOXiedyOr?si=dEM48cSPQ9OIQ1HiD8sjrg
Listen & Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-fort-with-chris-powers/id1410549811
0:00 - Kendal’s Background and Career
02:02 - What are the top things that create bad deals in development?
04:02 - More on Kendal’s Background
08:35 - What are the biggest differences between Canada and the United States?
10:54 - Getting Project Approval in Canada
13:17 - How do you handle emotional opinions from the community when doing development?
15:47 - Incorporating Feedback from the Community & Rezoning
17:40 - How long is the process from submitting to the city to approval?
19:35 - Is everything you do for rent or do you have for sale opportunities?
20:04 - How do you capitalize deals and think about debt?
21:53 - Why don’t you bring US debt into Canada?
22:58 - Cultural Differences in Lending
24:45 - How is recourse structured?
26:20 - How do you think about parking for your projects?
29:27 - Thoughts on Building EV Stalls
31:41 - Is a lot of your equity coming from Canada or is it global?
32:42 - The Toronto & Vancouver Real Estate Market
34:45 - What experiences are you having as it relates to building and the supply issues we’re seeing?
38:24 - What do you look for in markets before entering?
41:16 - How do you know you’re going into the best location?
43:08 - How do you think about hiring architects?
46:50 - The Importance of the Cohesion Between Architects, GC’s and Engineers
50:04 - What matters to you when picking General Contractors?
52:41 - What is ‘Crystalizing The Promote?’
58:08 - Kendal’s Hunt for An Acquisition Manager
The FORT is produced by Johnny Peterson & Straight Up Podcasts
-
11:29
Space Ice
3 hours agoRings Of Power Season 2 Pt. 1 - You Owe Amazon An Apology - Best Movie Ever
3536 -
LIVE
Tundra Gaming Live
59 minutes agoThe $2500 Great Tundra Nation Get Together Giveaway Stream!!!
1,506 watching -
1:05:06
Athlete & Artist Show
3 hours ago $3.56 earnedHIGH STAKES Sports Betting & Casino Games
15.1K15 -
1:21:22
Tactical Advisor
4 hours ago$1900 Rifle Giveaway! | Vault Room Live Stream 007
64.2K7 -
2:58:24
I_Came_With_Fire_Podcast
14 hours ago"The Mysteries of Indrid Cold, Alternative American History, and Whether JFK Deserved It"
17.2K4 -
14:53
Winston Marshall
2 days agoYIKES...Did You See THIS?!
50.5K68 -
8:09:08
PoisonTaco
9 hours agoCitizenCon 2954 DAY 1 - Rumble Watch Party
60.2K18 -
1:05:10
Game On!
15 hours ago $6.65 earnedHappy Alabama vs Tennessee Day! | College Football Preview
31.4K6 -
25:14
CarlCrusher
19 hours agoHunt for the Skinwalker Portal Mystery of Magic Mesa - pt 1
28.6K17 -
6:40
The StoneZONE with Roger Stone
16 hours agoAn Obama Race-Baiting Stunt Just Backfired Big Time, Flushing His Legacy Down the Toilet
38.6K54