Real Estate Development: The Curtis Way

What is really happening in Western Canada's real estate market?

In this episode of the RMS Real Estate Development Podcast, Curtis Way sits down with Dave Young, Executive Vice President, Capital Markets at CBRE, to discuss the current state of commercial real estate across Alberta, Saskatchewan, Manitoba, and British Columbia.

The conversation explores the economic trends, demographic shifts, investment activity, and market fundamentals that are shaping the future of real estate development and investment throughout Western Canada.

Topics include:

• Alberta's continued population and job growth
• Why private sector employment matters to real estate performance
• Migration trends and the Alberta Advantage
• Industrial, multifamily, office, and retail market conditions
• How municipal taxes and policies impact development decisions
• The current state of investment activity across Western Canada
• Why investors are increasingly focused on cash flow over appreciation
• Market conditions in Saskatchewan, Manitoba, and British Columbia
• Capital flows, institutional investors, REITs, and family offices
• Cap rates, valuations, and investment opportunities across asset classes
• The future outlook for Alberta's economy and commercial real estate market

Dave shares why he believes Alberta remains one of the strongest real estate markets in Canada and explains why many investors are increasingly looking west for stability, growth, and long-term opportunity.

Whether you're a developer, investor, lender, property owner, or simply interested in the future of Western Canada's economy, this episode provides valuable insight into the trends driving today's market.

One message comes through clearly: strong population growth, private sector job creation, and affordability continue to make Western Canada one of the most attractive regions in the country for real estate investment.

To learn more about the RMS Group, please visit: https://rms-group.ca/

This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

Before a shovel ever hits the ground, every successful real estate development starts with a proforma.

In this episode of the RMS Real Estate Development Podcast, Curtis Way and Dan Demers break down one of the most important tools in development: the apartment proforma. From land costs and construction budgets to financing, operating expenses, rental assumptions, and long-term returns, they walk through the numbers developers use to determine whether a project is viable.

The discussion covers how proformas help identify risk, why they must be continually updated throughout the development process, and some of the common mistakes that can lead to costly surprises.

Topics include:

• Land acquisition and off-site costs
• Construction budgeting and contingencies
• Soft costs, consultants, and legal fees
• CMHC financing and mortgage insurance fees
• Marketing and lease-up costs
• Rental assumptions and vacancy rates
• Operating expenses and property taxes
• Cap rates, valuation, and investment returns
• Cash-on-cash return versus internal rate of return (IRR)
• Why developers need to be realistic with their numbers

Whether you're an aspiring developer, investor, lender, or simply curious about how real estate projects are evaluated, this episode provides a practical look at the financial framework behind apartment development.

One lesson stands above all others: a proforma is only valuable if you're honest with yourself about the assumptions behind it.

To learn more about the RMS Group, please visit: https://rms-group.ca/

This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

In the debut episode of the RMS Podcast, RMS Group CEO Curtis Way and President Laura Way-Olenek introduce the series and share the stories behind how they got started in real estate development.

From Curtis’ early days as a carpenter and project manager to building apartments, shopping centres, industrial projects, and large-scale multifamily developments across Western Canada, this episode explores the realities of becoming a developer and the lessons learned along the way.

The conversation covers:

• How real estate developers actually get started
• Why risk management is critical in development
• The importance of asking questions and learning through experience
• Partnerships, financing, and protecting your future
• Construction challenges and lessons from the field
• How RMS evolved from northern industrial projects into multifamily development
• Why “you don’t know what you don’t know” is one of the biggest lessons in the business

This episode also previews upcoming conversations on proformas, financing, CMHC, construction, legal issues, market trends, and property management.

Whether you're an aspiring developer, investor, entrepreneur, or simply curious about how buildings come to life, this series offers a behind-the-scenes look at the business of real estate development.

To learn more about the RMS Group, please visit: https://rms-group.ca/

This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

In Episode 2 of the RMS Real Estate Development Podcast, Curtis Way is joined by RMS Executive Vice President Dan Demers for a practical deep dive into the apartment development process.

From finding the right site and navigating municipal approvals to financing, consultants, construction contracts, and lease-up, this episode walks through the real-world steps involved in bringing a multifamily project to life.

The conversation covers:

• How developers evaluate and select apartment sites
• Why “beauty is in the eye of the beholder” in real estate
• The importance of zoning, environmental reports, and geotechnical studies
• Working with architects, engineers, lawyers, and consultants
• CMHC financing and the realities of today’s lending environment
• Development permits, appeals, and municipal challenges
• Construction contracts, liens, contingencies, and risk mitigation
• Lease-up strategy, carrying costs, and deciding whether to hold or sell a building

Curtis and Dan also share stories from their own experience developing multifamily projects across Western Canada, along with practical lessons for aspiring developers looking to avoid costly mistakes.

Whether you’re considering your first development project or simply want a better understanding of how apartment buildings actually get built, this episode offers a candid look at the process behind the scenes.

To learn more about the RMS Group, please visit: https://rms-group.ca/

This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

Pilot episode overview. Join us for future episodes soon! 

Ever looked at a vacant piece of land and wondered how it becomes an apartment building, shopping centre, or thriving commercial property?

Join the team at RMS Group as they pull back the curtain on the world of real estate development. Through conversations with developers, investors, lenders, brokers, lawyers, property managers, and construction professionals, we'll explore the wins, the mistakes, the risks, and the opportunities behind every project.

From proformas and financing to market cycles, approvals, construction, and property management, this podcast is designed for aspiring developers, experienced investors, and anyone interested in how great real estate projects get built.

Real stories. Real deals. Real lessons from the people doing the work every day.