Brandon Donnelly

Daily insights for city builders, delivered every morning at 6 AM ET. I’m Brandon Donnelly — a Toronto-based real estate developer and founder of Globizen. I’ve been writing here since 2013.

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  • Canada should be celebrating Vancouver’s new Terminal 2 port

    July 14, 2025 · View original

    Last week, the Vancouver Fraser Port Authority kicked off procurement for the new Roberts Bank Terminal 2 project by issuing a request for qualification (RFQ). Bidders now have until September 25, 2025 to submit their qualifications with the hopes of eventually being selected to deliver this “nation-building project” in the Lower Mainland of BC.

    The contract will include the delivery of an approximately 100-hectare marine landmass (~247 acres), 35-hectare widened causeway, 1,300-meter wharf structure and berth pocket, and expanded tug basin. And when complete by the mid-2030s, the new terminal is expected to create more than 17,000 well-paying long-term jobs, unlock $100 billion in new trade capacity, and contribute somewhere around $3 billion in annual GDP.

    Here’s a rendering of the new marine landmass:

    The Port of Vancouver is the largest port in Canada by tonnage and TEUs (twenty-foot equivalent units). It’s also one of the largest in North America. This expansion is expected to increase its capacity by up to 50%, which could have it leap ahead of several major US ports by the time it’s complete in the mid-30s. That could place it among the top 4 container ports in North America.

    It would be hard to overstate the importance of this project for Canada. The economic center of gravity for the world is steadily moving toward East Asia. In the 1980s, if you were to map and drop a pin at this economic center — according to GDP — it would have landed in the North Atlantic (between the US and Europe). By 2030, this economic center is projected to be near the border of India and China.

    Already, China is Canada’s second largest trading partner (after the US). And over 60% of the container trade flowing through Vancouver is transpacific. More specifically, it is trade with China, Japan, South Korea, Vietnam, and India. If we don’t expand our port capacity and if we allow our container supply chain to become bottlenecked, well then these containers will simply shift south to the US West Coast. It’s that simple.

    Though this project was approved by the federal and provincial governments in 2023, it has faced stiff opposition from local community groups and environmentalists. This is partly why it took approximately 10 years. The Federal Environmental Assessment process began in 2013. And it wasn’t until April 2023 that the feds granted approval with a list of 370 legally binding environmental conditions.

    What this means is that by the time this project is (hopefully) complete in the mid-30s, it will have taken at least two decades! And perhaps even longer knowing how construction works. This is far too long, which is obviously why we are working to make changes to how we, as a country, green light important nation-building projects. There’s no question that this is one of them, and so today I think it’s important to celebrate this milestone.

    It’s time to build, Canada. And as fast as possible.

  • The banking system is frustratingly archaic

    July 13, 2025 · View original

    I experience this feeling on a regular basis, especially because I’m also someone who interacts and uses crypto on an almost daily basis. This week’s frustration came about as I was trying to move money around from our Parkview Mountain House account in the US. We bank with US Bank and, for the record, the people in the Park City branch are absolutely lovely people.

    But here’s one of the things: US bank cannot interface with my mobile phone because I have a Canadian number. And because I live in Toronto, I’m also not able to download and use their mobile app. This means I cannot do rudimentary digital things like deposit a cheque (also known as checks in America). I’m constantly hamstrung and forced to do a lot of things in person. Is there really no simple solution to this?

    In contrast to this, I own brandondonnelly.eth, which links to my personal Ethereum wallet. It’a also linked to my Farcaster account (Twitter-like social network), as well as many other onchain platforms and products. And it works, as expected, anywhere in the world.

    If someone in Botswana would like to send me 0.001 ETH (~C$4) because they like what I write on this daily blog or they just want to buy me a morning coffee, they could easily do that by entering brandondonnelly.eth on their phone. They could also choose to do so with a stablecoin pegged to the US dollar. And when I eventually do my income taxes and I review my wallet’s ledger, this transfer would show up and I would be able to categorize it accordingly.

    This, to me, is very clearly the future of the global economy.

    Full disclosure: I am long ETH and companies like Coinbase.

    Cover photo by Ales Nesetril on Unsplash.

  • Up to 170,000 jobs are at risk of disappearing from Canada’s new construction sector

    July 12, 2025 · View original

    The Globe and Mail just published this piece about job cuts across the real estate industry. And pictured in the article is my friend Norm Li, who runs a renowned visualization company here in Toronto, but just recently had to lay off 75% of his team.

    This is sad — and quite a departure from the way things were before 2022. You used to have to book Norm and his team many months in advance just to get in the queue. That’s how busy they were creating visual content for the architecture and development industry.

    But there’s not much you can do when the market more or less shut offs. And Norm is not alone. The article estimates that there are some 536,300 jobs in the new construction sector in Canada. And based on the way the above chart is looking, up to 170,000 of these jobs are currently at risk of disappearing.

    If you look at the comment section of the article you’ll find that a lot of people either couldn’t care less or actually relish the fact that the real estate industry is shedding jobs. A lot of people responded with “good.” This is not at all surprising (and not just because it’s, you know, a comment section). Homes remain unaffordable in Canada.

    In the first quarter of this year, RBC estimated that the share of income needed to cover homeownership costs in Toronto is still averaging over 60%. And so for many/most people, the new construction sector isn’t a source of personal utility; it’s a creator of things that aren’t affordable.

    Oh, you can’t make money anymore? Good.

    But here’s a better kind of “good” to consider: as painful as the current conditions are for everyone in the industry — myself included — the market is being forced into a reset. Among many other things, municipalities are rethinking their development charges, construction costs are coming down, and nearly every developer seems to be pivoting their new-home business toward bona fide end users (as opposed to investors).

    What I think this means is that when the market does return — and it, of course, will — it is highly likely that it will be rooted in sounder fundamentals. And this, I would say, is good.

    Cover photo by Maarten van den Heuvel on Unsplash; pre-construction home sales chart from the Globe and Mail

  • Generalist vs. specialist developer

    July 9, 2025 · View original

    A few weeks ago I accidentally sparked, via this tweet, an entertaining debate about what it takes to be called a developer. This led to my post “Do you even develop, bro?“, where I explained my view on when it might be appropriate. (Spoiler: It’s a broad term.) But my friend Brendan Whitsitt of Imprint Development has just published an even better post on the topic. It’s called “Developer vs. Dirt-Flipper” and you should give it a read.

    In it, he says this:

    > So if we tried to sketch a Platonic ideal for what a developer is, we might say that the ideal developer would have a solid understanding of, and experience in, all phases of development, including construction. This person will have a holistic perspective that attempts to optimize across all phases of a project rather than just one part.

    This doesn’t relate directly to the debate of who should be called a developer, but I think it’s an insightful comment. Developers have very specific skillsets, but they also tend to be generalists. Our job is to stitch together lots of different disciplines and elements to ultimately produce a space that people can live, work, play, and/or do other things inside. The more you know about the entire process, the better you can be at any one part.

    I even think this transcends just the development process. The more you know and understand about cities, market trends, human behavior and countless other things, the more thoughtful you can be about formulating new developments. It’s never ending and it makes for an interesting line of work. But I do think this raises the question of: When is it valuable to specialize?

    For example, some development companies like to follow a division of labor model. One team focuses on acquiring new sites, one team focuses on approvals/entitlements, and so on. Once a particular phase is completed, the project gets passed on to the next group. And in theory, these specialist teams should be able to go deeper and harder than a team forced to spread their time.

    But on the flip side, it means that the person trying to buy sites might not be thinking about what a pain in the ass it will be to build on. They may just be trying to get deals done. Let the other team worry about building the thing. So personally, I’ve always liked the accountability that comes with taking a project from beginning to end — it’s never somebody else’s problem. It’s your problem.

    Of course, even if you don’t do this, you’re still a developer.

    Cover photo by Max Langelott on Unsplash

  • What are Uber and Travis up to?

    July 8, 2025 · View original

    Uber’s stock has done exceptionally well this year. At the time of writing this post, it’s up over 60% year-to-date. But at the same time, it remains unclear to me what the relationship will be between Uber and this brave new world of autonomous vehicles.

    I mean, right now, if you’re in Phoenix, I’m told you can order a Waymo car through Uber’s app. But if you’re in San Francisco, Waymo customers must use the Waymo app. It’s all bit mirky right now, but Uber is just trying to put “as many cars on Uber’s network as possible.”

    There’s also an argument that, for the foreseeable future, ride-hailing networks are going to need some mixture of both human and robot drivers. I get this argument. But beyond the short term, I think there will be strong incentives to completely eliminate human drivers.

    Last month, the New York Times announced that Uber is in talks with Travis Kalanick, the company’s co-founder who got pushed out 8 years ago, to help him buy autonomous vehicle company Pony.ai.

    It’s a bit of an interesting story. Pony is a Chinese company, but because the US doesn’t want Chinese tech to become too deeply embedded in the American economy — and has become increasingly hostile to such companies — it has been readying a clean US subsidiary of the business for sale.

    This is what Travis allegedly wants to buy with the help of Uber. And it’s particularly noteworthy because it could be an indication that Uber is worried about Waymo and wants to have its own AV unit (which it had previously, but then sold off in an effort to quickly reach profitability).

    My sense is that Uber needs to do something along these lines. The risk of not having autonomous vehicle capabilities is simply too great.

    Cover photo by Viktor Avdeev on Unsplash

  • Attention Paris city builders

    July 7, 2025 · View original

    Neat B and I just booked some end-of-the-summer travel. We’re going to bounce around to a few different places, but the plan is to end up in Paris and then spend a week there working remotely — you know, from the Paris office.

    And by the Paris office, I mean a generous 323 sf aparthotel with a small kitchen, workspace, and shared laundry facility that we rented in the 10th. I started by searching diligently for an Airbnb; but I couldn’t find anything we liked, so I ended booking something through Edgar Suites.

    As part of this trip, I’m aiming to meet as many industry people as possible and hopefully tour some development projects. One of my goals is to better understand how Paris consistently pulls off beautiful infill housing projects like this.

    So if you’re a developer, architect, investor, or other kind of city builder based in Paris, please drop me a line at brandon.donnelly@globizen.com. I’d love to connect and learn more about your city and market, and about what you’re up to.

    Coffee and yummy pastries on me, of course.

  • One of the most iconic and extreme railways in the world

    July 4, 2025 · View original

    YouTube video

    If you’re a regular reader of this blog, you’ll know that I like trains. So when I come across a video titled “This Sahara Railway Is One of the Most Extreme in the World,” there’s a high probably that I’m going to watch it — even if it’s over 6 years old. Now for a second, I thought that I may have already written about this rail line, but AI tells me that I haven’t.

    The Mauritania Railway is one of the most iconic and famous lines in the world. It’s approximately 704 kilometers long and it was built for the sole purpose of transporting iron ore from the Zouérat mines in northern Mauritania to the port city of Nouadhibou on the Atlantic coast. Iron ore represents somewhere around half of Mauritania’s exports.

    This railway runs some of the longest trains in the world — each train can have over 200 cars, which translates into trains that are up to 3 kilometers long. They can also transport up to 17,000 tons of iron ore, making it one of the heaviest trains anywhere in the world.

    But what I find most fascinating about this railway is the informal economy that unintentionally emerged on top of it. Because the trains return from Nouadhibou to Zouérat empty, local fishermen and traders use it to transport product inland to towns along the line. And for many of these towns, this is their lifeline — it’s their only connection to the outside world.

    It’s not a fun trip, nor is it a safe trip. It also takes 20 hours to travel from one end to the other. But it’s importantly free and it provides economic opportunity. It’s an extreme example of the power of rail. Here you have a single railway that likely shoulders at least a quarter of the country’s entire GDP, and that’s without including any of the benefits derived from its informal contributions.

    If you haven’t yet seen the above video, I would encourage you to take the 12 minutes and give it a watch. The visuals are important to see. And there’s a reason it has over 10 million views.

    Cover photo by Andrzej Kryszpiniuk on Unsplash

  • Happy (belated) Canada Day

    July 2, 2025 · View original

    I hope all of you had a great longish Canada Day weekend. I say longish, because maybe you took off Monday, or maybe you didn’t. Either way, yesterday was Canada Day. I love Canada Day. Every year I take out my giant flag and bring it with me wherever possible in celebration of this place.

    This past Saturday I took it to Electric Island. And what I will say is that I saw a noticeable uptick in house and techno fans wearing Canadiana. Everything from Blue Jays hats to t-shirts saying things about the direction of elbows. This is not at all surprising. We know what happened this year. And the result is that Canadian patriotism is surging.

    According to Leger and the National Post, 83% of people surveyed in June 2025 said they’re proud to be Canadian. And according to Angus Reid, who polled people in February of this year, nearly 60% of Canadians said they have a “deep emotional attachment” to country. This is what happens someone punches you in the face. You get your back up and seek out solidarity.

    But when channelled correctly, this can be a positive thing. What we need it to do is to continue to shake us out of complacency. The status quo puts us at risk and accepts mediocrity. We need to diversify our economy (away from the US), build with the greatest of urgency, and think of ourselves as an emerging global superpower.

    Happy (belated) Canada Day, everyone.

    Cover photo by Mvrkle on Unsplash

  • A city without cars

    July 1, 2025 · View original

    YouTube video

    Okay, so I haven’t been (yet). But if you’re an urbanist in search of a new city to check out, consider Pontevedra in northwestern Spain. Pontevedra is famous for its car-free city center. Starting in 1999, then-mayor Miguel Anxo Fernández Lores began making some radical changes to prioritize pedestrians and turnaround a city in decline. They’d still be considered radical today, so I can only imagine what they felt like back in the 90s.

    The historic center of the city, which covers an area of about 300,000 m2 (or about 74 acres), was fully pedestrianized. The area surrounding it was also converted to a low-traffic zone, bringing the total size of the pedestrian-oriented area to more than 1.3 million m2 (or about 321 acres). To put this into perspective, High Park in Toronto is just under 400 acres.

    The result is that vehicular traffic dropped by ~92% in the historic center and ~53% in the city as a whole. Today, walking accounts for over 65% of all trips and the average resident walks about 5 km per day (roughly equivalent to 6,000 to 7,500 steps). On top of this, over two-thirds of children now walk to school. And the city hasn’t reported a single pedestrian death from cars in over a decade!

    But how has the city performed economically since the change? Some 15,000 people have moved to the city since it became car-free and the total inventory of shops and restaurants has increased. It has also been reported that foot traffic went up (possibly by as much as 30%) and that retail vacancies dropped significantly. This is supported by research showing that well-designed pedestrianized areas do often drive higher retail sales.

    Did you hear that Kensington Market?

  • Building Canada with how, not why

    June 30, 2025 · View original

    The One Canadian Economy Act, which received Royal Assent on June 26, 2025, has two components to it: the Building Canada Act and the Free Trade and Labour Mobility in Canada Act. Today, I’d like to talk about the first one.

    The intent of the act is to expedite the delivery of “nation-building projects.” Projects that will strengthen Canada’s autonomy, resilience, and security, and turn the country into a global superpower (my words, not theirs).

    The government states that this might include things like highways, railways, ports, airports, oil pipelines, critical minerals, mines, nuclear facilities, and electricity transmission systems.

    At a high level, the streamlining is intended to work like this:

    – Projects first need to qualify as a nation-building project. – Then, the federal government approves the project right from the outset. – Following this a single conditions document will be issued by a new Federal Major Projects Office. This is intended to replace the current process of multiple sets of comments, conditions, and federal permits.

    Overall, the target is to reduce average approval timelines from ~5 years to ~2 years.

    What I particularly like about this sequence is that projects get “approved” right at the start. This is intended to immediately change the conversation from whether we should build to how do we build, which is an important distinction.

    As someone who manages projects for a living, I can tell you that decisive and clear direction is critical to moving projects forward. Uncertainty and indecision kill momentum and motivation within teams. You need to be able to say, “this project is going, and going fast, so focus on figuring it out and making it happen!”

    Ultimately, everything comes down to execution. But at least we’re taking positive steps toward becoming a country that once again builds — and builds big.

    Photo: Gordie Howe International Bridge