Sen̓áḵw (Squamish Nation) | 11 Towers | 171m | 58fl | 4M sqft | U/C

[officedweller]

By me today:

[jollyburger]

Website got updated and all the construction updates are gone

https://senakwvillage.com/

Doesn't seem to be anything new in terms of the renderings included on the updated website.

[Chappnw]

Originally Posted by jollyburger

Website got updated and all the construction updates are gone

https://senakwvillage.com/

Doesn't seem to be anything new in terms of the renderings included on the updated website.

The lease-up and property management teams are locked in and gearing up to start accepting new tenants around the beginning of Q2 next year. Sounds like leasing will kick off in Q1, so expect to see marketing campaigns soon and fewer construction updates. You can register for updates on the new site, but those will come in the form of email updates...

The main focus right now will be getting leasing for T1 rolling while introducing a new property management company to the West Coast. They’re a big name in the purpose-built rental space, coming from Toronto, but they’ve never operated in BC before. It’ll be interesting to see how they handle staffing and day-to-day operations here. They’re known for high-end rentals and unique amenity programming, so this could be something different for Vancouver. Will a Toronto-based operator nail it in Vancouver? We're all excited to see how it goes!

The developer, operator, lease-up team, and financial backing (OP Trust) are all connected in some way - which you can dig into once more info comes out. Very interesting dynamic.

[osirisboy]

Websites that are nothing but a register now page are the most useless things online

[giallo]

As seen from English Bay

[djmk]

cool pic.

[jollyburger]

Some photos of the corridor finishings.

https://www.instagram.com/reel/DRdX4wYgdFn/

[Capitol Hill]

Originally Posted by djmk

cool pic.

Not for the crab’s family!

[Zepfancouver]

Originally Posted by Capitol Hill

Not for the crab’s family!

I would title that photograph ' Food Chain ' by giallo

[Vin]

Originally Posted by Capitol Hill

Not for the crab’s family!

And the mussel family....lol.

[Chappnw]

Well, without so much as a “hey Vancouver 👋,” Fitzrovia quietly strolls into town and posts their General Manager for Senakw… at $95–125k. Bold move, considering that’s far under market for the most senior on-site role at one of the most complex residential communities we’ll see in this city.

Industry chatter always had us thinking they paid true market wages…especially with their Toronto flash, big branding, and “we do it differently” narrative. But from the outside? This feels… off. When your first leadership posting comes in low, it raises more eyebrows than excitement. Maybe it’s an OP Trust thing, keeping the finances tight… but would have assumed sharp oversight, solid governance, and proper resourcing.

Property management already battles infamously high turnover, and paying at market value is the bare minimum to stabilize a team, let alone attract senior talent capable of managing a project with this level of scale, politics, and operational intricacy.

If this is their opening act in Vancouver, it’ll be very interesting to watch how the operations unfold and who’s willing to take on that level of responsibility for that level of pay.

And look, you can call me greedy in this thread if you want, but let’s be honest: I’m looking out for the people who might think this role is your typical “property manager” gig. It’s not. Most PMs in Vancouver fall into that salary range already, and this position is nowhere near the same scope, responsibility, or complexity.

[whatnext]

Originally Posted by Chappnw

Well, without so much as a “hey Vancouver 👋,” Fitzrovia quietly strolls into town and posts their General Manager for Senakw… at $95–125k. Bold move, considering that’s far under market for the most senior on-site role at one of the most complex residential communities we’ll see in this city.

Industry chatter always had us thinking they paid true market wages…especially with their Toronto flash, big branding, and “we do it differently” narrative. But from the outside? This feels… off. When your first leadership posting comes in low, it raises more eyebrows than excitement. Maybe it’s an OP Trust thing, keeping the finances tight… but would have assumed sharp oversight, solid governance, and proper resourcing.

Property management already battles infamously high turnover, and paying at market value is the bare minimum to stabilize a team, let alone attract senior talent capable of managing a project with this level of scale, politics, and operational intricacy.

If this is their opening act in Vancouver, it’ll be very interesting to watch how the operations unfold and who’s willing to take on that level of responsibility for that level of pay.

And look, you can call me greedy in this thread if you want, but let’s be honest: I’m looking out for the people who might think this role is your typical “property manager” gig. It’s not. Most PMs in Vancouver fall into that salary range already, and this position is nowhere near the same scope, responsibility, or complexity.

Could it be they expect a new-build to have fewer problems?

[LeftCoaster]

Different problems. While they won't be dealing with aging building issues they will be tenanting a brand new building, onboarding hundreds of new tenants and dealing with deficiencies across the project.

Definitely not easier, just different.

That salary is comically low.

[PBlonde]

Originally Posted by LeftCoaster

Different problems. While they won't be dealing with aging building issues they will be tenanting a brand new building, onboarding hundreds of new tenants and dealing with deficiencies across the project.

Definitely not easier, just different.

That salary is comically low.

Not to mention that on a new building you have the joy of learning which systems will work as intended, which ones have quirks and which ones don't work.

[s211]

Originally Posted by LeftCoaster

Different problems. While they won't be dealing with aging building issues they will be tenanting a brand new building, onboarding hundreds of new tenants and dealing with deficiencies across the project.

Definitely not easier, just different.

That salary is comically low.

Comically low in relation to what? Other PM roles? If so, then not comically low. And multi-res PM pays lower than commercial PM, to boot. This is a Canada-wide phenom. GMs will make a little more but very very few people in the PM side of the business have the true chops to be GM level. It is what it is.

[LeftCoaster]

GM of a large mixed use community.

A single or even 2 building property manager is not going to be the same as a GM running 3 soon to be 11 buildings.

[jollyburger]

City of Lougheed seems like it was $160-190K.

https://www.glassdoor.ca/job-listing/gen...8200_KO0,36_KE37,56.htm?jl=1009857951879

[LeftCoaster]

Seems a lot more like market for an experienced large asset GM to me.

[SFUVancouver]

Originally Posted by jollyburger

City of Lougheed seems like it was $160-190K.

https://www.glassdoor.ca/job-listing/gen...8200_KO0,36_KE37,56.htm?jl=1009857951879

That's the kind of range I would expect for all of the reasons folks have mentioned above, plus the potential to lure an experienced GM/PM from another large-scale property management job, especially when the Senakw is new-build amidst active construction and the rental management company is new to the market and learning as they go (i.e. the role can be expected to manage up as well as manage down).

[WarrenC12]

Paying low wages and getting amateur mistakes will cost the owner a LOT more in the long run. Weird decision unless there are other staff and this isn't the overall PM as planned.