Angry Mortgage Special Guest Jeremiah Shamess- Executive Vice President at Colliers and Head of Private Capital Investment Group | EP. 162
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Feb 24, 2026 Jeremiah Shamess, Executive Vice President at Colliers and head of private capital/investment group, offers a commercial real estate tour of Ontario. He discusses shifts in development land demand and why condo presales faltered. Conversation covers purpose-built rentals, CMHC programs and incentives, bulk condo buyouts, and why AAA office space is rebounding in Toronto.
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Speculation Ended Developer's Easy Model
- Development land heated by speculation shifted in late 2021 as buyers became cautious, especially for residential condo sites.
- Developers had relied on deposits and presales to fund projects, so reduced presales removed that low-equity pathway and increased risk.
Treat Large Developer Pullback As Early Warning
- Expect developers with long track records to pull back early in a cycle; they stop competing when market sentiment shifts.
- Watch for pauses from the largest firms as a leading indicator of tighter markets.
Use CMHC And Deferrals To Make Rentals Pencil
- To make purpose-built rentals viable in expensive downtown sites, secure CMHC ACLP financing, development charge deferrals, and property tax deferrals.
- Those three levers together increase leverage and lower financing costs so the project can pencil.