the weekend edition May 26th

It’s been another busy week at addy. The Lower Mainland coffee events continue (yes, we will have more in other cities soon), save the date for an addy townhall this week and check out the latest feature within your addy account – an Income Ladder. Plus, don’t forget about the latest industry news. Lots to cover… let’s go! 

Today’s reading time is 5½ minutes. 

🗓️ addy Townhall

Save The Date – We are putting together an addy Townhall event. addy co-founders Michael Stephenson, Stephen Jagger and Jeff Booth will be on hand for a townhall event on Thursday, May 30th at 4pm Pacific. There will be room for a handful of addy members to attend in person at our Kitsilano offices and addy members can join the online link to participate. Mike, Steve and Jeff will discuss a range of topics and take questions from members. Will be a fun event!! More details to follow! 

💰 The Kimbrook Apartments Distribution

🎨 Davenport

The Davenport in Toronto from QMW has just dropped on the addy platform. QMW plans to renovate and reinvigorate this building to create a purpose-built rental building with 8 residential units and 1 commercial unit in Toronto, ON.

Watch

👀 Meet Samuel Werner (CEO) and Avrohom Marder (President) from QMW as they discuss their real estate business, past properties and the upcoming Davenport property in Toronto. (Watch)

🪜 New Feature Alert

Income Ladder

👀 You now have your own Income Ladder within your addy account!

What is an Income Ladder?

🙋 An Income Ladder is a spreadsheet that shows monthly earnings from each investment. The Income Ladder projects how much you could receive in dividends and exits based on issuer proformas. This allows you to estimate future passive income. 

Where do I find my Income Ladder?

📍 Your Income Ladder can be accessed by clicking the “Portfolio” link in the main navigation then scrolling down to the section Your Income Ladder. (Right below your addyverse)

🫡 Shout out to addy Senior Engineer Ben Vishny for creating this feature. 

📰 Industry News

Housing minister says he’s trying to convince big cities not to hike development charges

Development charges are meant to cover some of the costs a new development brings to a city, including things like water and sewer costs, as well as roads, parks, community centres and police. Most communities in the country charge some fees with differences about the overall cost and what is included. (The Whig)

Canada’s inflation rate falls to 2.7% in April, driving up odds of June rate cut

Canada’s annual inflation rate fell to 2.7 per cent in April amid a broad-based slowdown in price growth, boosting expectations of an interest rate cut next month. (BIV)

“Fragmented” Industry Keeping Canada From Reaching Its Construction Capacity: CMHC

In short, Canada isn’t living up to its construction capacity, according to a new report from the Canadian Mortgage and Housing Corporation (CMHC). In the report, written by Mathieu Laberge, Senior Vice-President, Housing Economics and Insights at CMHC, the resonating theme is that Canada has the construction resources it needs, yet homes aren’t getting built as quickly as they could – and a “fragmented” construction industry isn’t helping. (Storeys)

B.C. announces 670 subsidized units in next phase of rental housing plan 

The premier cited recent government laws, regulations and programs to build and increase the supply of affordable housing, including placing restrictions on short-term rentals, building rental units near transit lines and targeting public lands for middle-income homes. (Global News)

🤔 What did you think of today’s newsletter?

Great 😊 | Solid 🙂 | Meh 🫤