Since 1987, ONE Properties has been creating spaces where people live, work and play by developing, owning and managing the properties that define their communities. Headquartered in Edmonton and founded by Peter Edgar and Guy Scott (originally as Western Asset Management), ONE Properties has grown substantially over the past 35 years and now has more than 48 million square feet of space that’s developed or under development, more than 16 million square feet under management, and more than 140 employees in three major Canadian cities.
Darren Durstling, President and CEO, has been with ONE Properties since 1998. He says, “Edgar and Scott formed the company with the simple goal of making a difference in people’s lives through real estate. I joined the firm nearly 25 years ago and alongside the partners and team, we have continued to build this privately owned, integrated real estate investment firm to what it has become today; developing and managing a range of high-quality assets across Canada.”
There have been important milestones along the way. In 2013, ONE Properties, in partnership with Alberta Investment Management Corporation, was awarded one of the first LEED certifications for an industrial building, recognizing Stoney Industrial Centre’s Building 4 for its environmental sustainability. Just a year later, in 2014, ONE Properties entered a new province by opening their Toronto office. The pace didn’t stop – 2015 saw the start of the ICE District Joint Venture in partnership with Katz Group. Since then, additional milestones include the Amazon distribution centre (in partnership with TD Greystone) in Nisku and becoming a management partner for Edmonton International Airport.
Durstling continues, “We are proud of our growth through the last few years and excited about the new partners and people who have joined us as well as the new properties we have brought into our portfolio for development and management. We are also proud of our tenant service model, which helps businesses succeed, and of our resident experience model, providing high-quality living environments inspired by top hospitality standards.”
The property management business is fast-paced and brimming with competition. ONE Properties stands out by building high-trust relationships based on values of alignment, collaboration and integrity. Being agile and retaining their entrepreneurial spirit allows the team to tackle challenges quickly and find creative, out-of-the-box solutions.
Those challenges, Durstling notes, only help the company grow stronger. “We are not alone in facing the headwinds of inflation and the pressures that come with that,” he says. “We have a track record of successfully weathering the economic cycles of the past 30 years and are confident in our future with strong people and great partners.”
The team members operating out of Edmonton, Calgary and Toronto are key in the company’s success. According to Durstling, “Our more than 140 employees represent an incredibly diverse community. The team of individuals who have joined us along our journey come from a variety of backgrounds and experiences, enriching the day-to-day culture of our workplace. We are proud of our environment where everyone has the opportunity to contribute and grow, regardless of their identity.”
Durstling adds, “We have a team of exceptional professionals who are skilled in every aspect and sector of the business. I would like to recognize and acknowledge our CFO, Laurie Anderson, who has been with ONE Properties for over 20 years and has been instrumental in our growth and success.”
Together, Durstling and the team have contributed to the innovation and establishment of new development standards in Canada. This includes master-planned industrial parks such as Henday Industrial Park, Border Business Park and Stonegate Industrial, along with iconic buildings and communities including ICE District, Edmonton Tower and BLVD Beltline.
“Environmental, Social and Governance (ESG) principles and considerations are embedded in our operations,” says Durstling, “On the development side of our business, we are committed to staying at the forefront of innovation and performance and achieving Leadership in Energy and Environmental Design (LEED) certifications wherever possible. On the property management side of our business, we execute on programs to secure building certifications, such as ENERGY STAR benchmarking and BOMA BEST. We work with our clients to attain Global Real Estate Sustainability Benchmark (GRESB) goals, including utility tracking, tenant engagement, building retrofits and green procurement programs.”
Just a few notable developments in Edmonton where ONE Properties’ commitment to high quality shines, include:
Henday Industrial Park (in partnership with CPP Investment Board and Walton)
Fronting Yellowhead Trail between Anthony Henday Drive and Winterburn Road (215 Street), Henday Industrial Park is a 238-acre development featuring attractive, state-of-the-art and environmentally sustainable buildings providing immediate access to arterial roads and national transportation through the nearby CN Intermodal Yard. Phase 1, comprised of three industrial buildings (618,363 square feet) and 3.5 acres of outdoor storage was developed then sold to BentallGreenOak.
ICE District (in partnership with Katz Group)
Upon completion, ICE District will be one of the largest and most advanced mixed-use sports and entertainment districts in Canada. The development delivers a new era of entertainment in the form of epic concerts, heart-stopping NHL and WHL hockey games and events, world-class gaming, boutique shopping, trendy dining, and more. Learn more at www.IceDistrict.com.
Southpark on Whyte (in partnership with Wheaton Properties)
Located on Whyte Avenue and in Edmonton’s popular and lively neighbourhood of Old Strathcona, the Southpark on Whyte mixed-use development offers 98 high-end rental suites plus 15,900 square feet of retail. Learn more at www.SouthparkOnWhyte.com.
Citizen on Jasper (in partnership with IG Mackenzie Real Property Fund)
ONE Properties’ newest residential/retail mixed-used development in central Edmonton is located in one of Edmonton’s most popular downtown neighbourhoods. Citizen marks an exciting addition to Jasper Avenue with 344 premier apartment suites and 8,600 square feet of retail space. Learn more at www.CitizenOnJasper.com.
Glenora Park (in partnership with Revera)
Glenora Park retirement residence offers the best of city living amidst the elegance of Edmonton’s River Valley. The 290-suite development features on-site, premium amenities and services including an outdoor terrace, golf simulator, fitness centre, pool, art studio, lounge, theatre, spa and salon, bistro, restaurants, and more. Designed to support seniors’ changing needs, the pet-friendly residence offers a range of suite and care options ranging from seniors’ apartments to independent living, assisted living and memory care. Learn more at www.ReveraLiving.com.
Edmonton International Airport – Property Management
Last year, ONE Properties was awarded a management role for EIA’s Airport Sustainability Campus, which encompasses entertainment, tourism, shopping and light industrial developments.
For ONE Properties, the role of industry leader also means supporting the communities that allow them to thrive.
“We believe in the transformational power of people coming together to build strong and caring communities,” Durstling explains. “We are focused on giving back to local communities where we live and work and are supporters of Food Banks Canada and the Stollery Children’s Hospital Foundation. We are always seeking out opportunities to partner with unique Canadian-led businesses. We work with Montreal-based company Alvéole to introduce urban beekeeping at properties we manage.”
Durstling concludes by speaking to the past while focusing on the future. “We thank our partners who put their trust in us with their investments and our lenders who have been very loyal,” He adds what comes next, “We will be focusing on investment and development in our core competencies of industrial, multi-family and retail real estate, and our capabilities in property and asset management to create economic value in our communities for our partners and our employees.”