Tag: cities

• New acquisition for Globizen Flats: 571 Oakwood Avenue in Toronto

  

  

  This week, Globizen announced a new acquisition for our Flats division: 571 Oakwood Avenue in Toronto.

  This is an exciting moment for us because it marks the first project in our strategy of unlocking underutilized urban sites to create thoughtfully crafted, design-forward rental homes in walkable, transit-oriented communities across Toronto.

  The mission is simple:

  • Fill a Housing Need: We believe there’s a gap in the market for spacious, well-designed, family-oriented rental homes at accessible price points.

  • Support Toronto’s Urban Evolution: We believe that Toronto is at a unique turning point in its urban history, transitioning from a monocentric downtown surrounded by low-rise suburbs to a polycentric city that fundamentally rethinks its relationship to the car.

  • Invest in Renewable Energy: Canada needs more clean energy capacity. We see this as an opportunity to create a decentralized renewable energy asset alongside our communities.

  Globizen Flats is a response to these beliefs.

  Check out the full post in the Globizen Journal. You can also subscribe and follow Globizen Flats (@globizenflats) on Instagram.

  As an aside, I initially created the above toilet image as a joke. It’s a photo of the bathroom in the existing house on site. But my partners thought it was cool and that we should share it publicly, so here we are. I bet that toilet was the neatest thing when it was first installed.

  2026.09.03

• The great bifurcation: Machine-centred vs. human-centred real estate

  “When you fall in love again, you don’t think about the ex very much.” —Travis Kalanick, co-founder of Uber, talking about how he feels about Uber today

  You’d be forgiven for thinking that Travis Kalanick, co-founder of Uber, is back. Since leaving Uber heartbroken in 2017, he has been relatively quiet. But in his words, “I’ve been working my ass off the whole time. I just haven’t been talking about it.” Clearly. Last month, he announced that his startup Atoms had just raised $1.7 billion in equity. The round was led by venture firm a16z.

  Atoms is an audacious business and I would encourage you to check out their website and read their vision. Travis describes his life’s work as “digitizing the physical world” and Atoms’ mission is “physical automation to transform industry and move the world.”

  What that means — and what’s fascinating for us real estate people — is that he’s creating a physical AI company that uses single-purpose machines (as opposed to general-purpose humanoids like what Tesla has been promising for a number of years) to automate specialized tasks such as food preparation, resource extraction, and transport.

  However, all of these “atoms” need to be stored and processed somewhere, and so Travis views land and real estate as a critical resource in the world of physical AI. He goes on to argue that real estate development is a “dramatically underappreciated” ingredient. Everyone in tech has been too focused on software. And he means it. I took a look at their careers section and they have dozens of real estate-related job postings across the world.

  The hope with all of this is a new Golden Age:

  “Everything in our world, in our cities, in our civilization – look around you – is mined or grown – manufactured and moved. The next Golden Age will be upon us when the means of growing, mining, manufacturing and moving physical things becomes fully divorced from human labor.”

  When you consider this vision and our current data centre boom, it’s not hard to imagine the potential impacts on our built environment. Our cities are bifurcating into two broad forms of real estate: machine-centred and human-centred real estate.

  The machine-centred assets might service our online lives or the physical world, as is the case with Atoms, but they won’t necessarily need to engage with their broader environment or have things like windows, climate control, and even lights. They are “black boxes” for machines.

  Human-centred assets are, on the other hand, the sort of spaces that we talk about on this blog: walkable, human-scaled communities where people genuinely want to live, work and play. This, in my view, is the divide we are headed toward and it’s going to mean a reconfiguration of our urban areas and a repricing of real estate assets.

  Intuitively, I think this will only enhance the value of human-centred assets. We are going to want what is scarce: authentic human connections, beautiful architecture, and differentiated people-first experiences.

  2026.08.15

• Navigating cities through a stroller lens

  I love to travel and I try my best to be efficient at it. Pre-kid, Bianca and I would leave for weeks with just two carry-on suitcases and a laundry event at some point in the middle of the trip. But now we’re planning our first trip to Paris and Nice with Vivienne (she’ll be ~3 months old) and this has forced us to rethink our entire operation.

  I have spent more time than I care to admit researching travel strollers and super-light car seats and thinking about how best to navigate the places we are going. It’s an expensive world that I didn’t really need to know about.

  All of this is still to be tested out in the field, but here’s where we’ve landed:

  • Our two carry-on suitcases have been consolidated into one larger 85L checked bag. This is about freeing up our hands as much as possible.
  • I’ve swapped my personal item for a Patagonia Black Hole Mini MLC Pack (30L). MLC stands for maximum legal carry-on. This is not a referral link. I just like the bag. My business partner introduced me to it.
  • We got an Ergobaby Metro 3 travel stroller from family that we’ll be using. It fits into overhead compartments. Unfortunately, it’s not compatible with our car seat, and so we came close to buying a second and lighter travel-only car seat (along with the requisite travel stroller adapters). This felt wasteful. We scratched the car seat. I was also not excited about lugging it around.

  I think this is as minimal as we can be.

  We almost exclusively take the train and walk in Paris (though I have caused chaos in their traffic circles before) and, for Nice, I found a ride-hailing app called SIXT that allows you to reserve rides in advance and add in a car seat for newborns. The main reason we debated a car seat is because where we are staying in Nice is a little out of the centre and we would have wanted to Uber. Now we’ll just test our luck with SIXT and Vivienne’s capacity for long walks on steep inclines.

  It’s amazing how differently you start to think about cities and places when you’ve got a stroller to contend with and an infant with limited neck strength. If any of you have any tips, please leave a comment below.

  2026.08.10

• The spirit of a place

  We often think of cities in terms of their built environment. This city has lots of futuristic tall buildings, this one has lots of ornate mid-rise buildings, and this one is mostly suburban sprawl. But the built environment is only one component.

  Underlying the physical environment (let’s call it the hardware of a place) is a cultural ethos that connects our spaces and influences our behaviors (let’s call it the software of a place). In the architecture community, this is often referred to as the genius loci, or the “spirit of a place.”

  I was reminded of this when reading a recent column by Benedict Evans that starts with him reminiscing about the six years he spent living and working in the San Francisco Bay Area:

  “More fundamental than that, though, is the ethos and the sense of possibility. Of course, you’re going to do amazing things. Of course, you’re going to make a company – that’s what everyone does. Of course, this new thing is going to change the world. The world is malleable. You can do things. You can create a giant company from a PowerPoint in a couple of years.”

  This, of course, is a well-documented feature of the Bay Area. And its origins can almost certainly be traced all the way back to the Gold Rush of the mid-1800s when risk-taking misfits flocked to the region in search of overnight riches, transforming a sleepy hamlet into a place.

  But even though the lineage may appear clear in the case of San Francisco, the genius loci of a place does not represent immutable code. It changes over time, just as the fortunes and influence of a city also rise and fall over time.

  I often think about this in the case of my city, Toronto. Instead of being founded by maverick gamblers, the city was founded on an opposite set of principles: British imperial loyalty, Protestant morality, and anti-revolutionary order.

  Toronto has changed a great deal since then, through massive waves of immigration and robust post-war expansion, and the city’s built environment has naturally transformed from orderly Victorian row houses to supertall towers.

  But now, with the frenetic condominium boom of the last cycle in the rear-view mirror, there’s an increasing sense of what’s next. What will be Toronto’s genius loci of the future? That’s the exciting opportunity in front of us today and it’s up to us to decide. Indeed, the world is malleable.

  2026.08.07

• Audio is the poor person’s augmented reality

  I have long been interested in the work of entrepreneur Dennis Crowley. He is perhaps best known as the co-founder of Foursquare, which popularized location “check-ins.” But he’s created a bunch of other stuff too. The common theme is that his products exist at the intersection of tech and cities (the physical world), which is probably why I’ve been so interested over the years.

  Check-ins, for example, allowed you to say to all your friends, “hey everyone, I’m at this bar.” It was a way of checking if anyone you knew was there too, or close by, and also a way of inviting your friends to come join you if they were so inclined.

  This was extremely popular for a period of time, but then kind of fizzled out, and Foursquare was forced to pivot and try a bunch of other things. And in the end, this “problem” of augmenting the physical world with our social graph (and other information) never really got solved. I mean, this is broadly the promise of augmented reality.

  Thankfully, Dennis has a new company (Hopscotch Labs) and a new tech/city product called Beebop (which is currently in private beta). Here’s how it works (excerpt from this Crazy Stupid Tech interview):

  It’s an iPhone app. There’s not much to do in the app, there aren’t a lot of buttons to press. Once it’s installed and you set the permissions, every time you put on your headphones — your AirPods or any other headphones, it doesn’t matter—it chimes and says, “Beebop’s been activated.” (Beebop is the first project from the company, Hopscotch Labs.)

  Then as you walk around the city, it will tell you things about certain places. Eventually, if I walk by a place where my friend was, it tells me that Alex was here two days ago. If I walk by a place and someone’s inside, it tells me that Max is inside that place. A lot of it is still under development. Eventually, people leave a comment at a place. Imagine Twitter. It is as if you leave a tweet and you stick it in the ground. When you walk over it, you hear it.

  So like before, it’s about experiencing cities:

  It’s been a long time since I built something. What’s different now? AI is what’s different. You know what’s different? Everyone’s on their phones all the time. Back in my day, we made stuff for the streets. You would use your phone, you’d put it away, and stuff would happen. Where are the people making that stuff anymore? All we make is stuff that makes you look at the screen. Let’s make stuff that gets you out in the world, where you’re not glued to the devices. You’re out there doing stuff. Big companies out there aren’t going to make stuff like this.

  The key idea here is that augmented reality doesn’t have to just be visual. Visual also requires somebody to figure out a cool set of glasses that people will actually wear out in public. Who knows when this happens, though I do think it will eventually.

  So what Dennis is doing is making something that works today — with audio. This has been called the poor person’s augmented reality, but I think that’s selling it short. This is really clever. And once again, it’s fundamentally connected to how people live in and interact with our cities.

  2024.11.10

• The Eiffel Tower and the awful tower

  It was explained to me this week that Paris has two principal towers: The Eiffel Tower and the awful tower. The awful tower is, of course, the Tour Montparnasse. Completed in 1973, the Tour Montparnasse is tall, brown, monolithic, and seemingly out of place with the rest of Paris’ urban context. At the time of its completion it was the tallest building in Paris and it remains the tallest building outside of La Defense (business district).

  But the Eiffel Tower is also tall. In fact, it’s taller. So how is it that the Eiffel Tower became such a symbol for Paris and the Tour Montparnasse became the “awful tower?” Both were intended to represent modernity (at their respective times) and both were controversial at the time of their construction.

  Today people respond to these two towers very differently. Is it because the Eiffel Tower is set in a beautiful park and more separated from its urban context? Or is it because the Eiffel Tower has had almost another 100 years to settle in. It’s not exactly clear. But we do know that as humans we have a bias toward the status quo. And so I like to think of change in the following way:

  – There’s change that people immediately like

  – There’s change that people hate and will always hate

  – And there’s change that people initially hate but will eventually like

  The Eiffel Tower, you could argue, falls into category number three. It was big, modern, and alarmingly different when it was built at the end of the 19th century. But now people seem to like it. I know this based on the number of street vendors selling little replicas. For the record, I have yet to see little replicas of the Tour Montparnasse sitting on blankets on the street. I’m a buyer if I do come across one though.

  But is it really right to place Montparnasse into category number two? Could it be that it just needs more time to settle in and then it will ultimately move into number three? Maybe. In 2017, an international design competition was held to find an architect for the redesign of the tower. Studio Gang submitted an entry. But Nouvelle AOM was ultimately selected.

  I wasn’t part of the selections committee, but I think a good way to evaluate the success of this project will be whether or not it moves the tower into category three. That is, people start to like it. Then maybe Paris will become known as a city of two towers, as opposed to a city with one nice one and one awful one.

  2022.05.03

• New Zealand just abolished single-family zoning (for the most part)

  New Zealand has been in the news lately for sweeping housing legislation that effectively abolishes single-family zoning throughout most of Auckland, Hamilton, Tauranga, Wellington, and Christchurch.

  But before I get into how this will all work, here’s a bit of background from an article that Matt Gurney wrote talking about Toronto’s inability to build affordable housing and create safe streets:

  Now it’s time to segue back to the New Zealand thing, and there’s no particularly graceful way to do it, so I’ll just be blunt and inelegant: the federal government in New Zealand intervened on local housing rules because there was a crisis that local leaders were unable or unwilling to address. New Zealand has severe housing-affordability challenges (though Canada seems determined to close the gap). This has been a problem in New Zealand for years, and not enough was done, so the federal government stepped in… The government expects this to immediately spur construction of new housing units.

  It is no doubt a top down approach. But we all know how difficult it is to build anything at all when you start from the other end.

  So the way this new legislation will work is that it forces local councils to allow landowners to build up to 3 homes and 3 storeys on most lots. This is instead of 1 home per lot. The maximum site coverage has also been increased to 50%. And all of this will be available on an as-of-right basis, so no special permissions or variances needed.

  The pitch is that this will unlock as many as 105,000 new homes in already built-up areas. This is, of course, a good thing for a whole host of reasons. It uses land and infrastructure more efficiently, it makes public transit more viable, and it increases housing supply in a highly constrained market.

  I suspect that we will be seeing a lot more of this in the coming years.

  2021.10.26

• A few observations from Paris

  

  The last time I was in Paris was in 2006. That’s a long time ago and so it was great to be back in the city earlier this week. I don’t know the city as well as I do many other cities, but I speak enough French to be dangerous and we spent a good amount of time on this trip just exploring. On average, we clocked about 20,000 steps a day. So here’s a list of some of the things I was reminded of or learned of on this visit. If any of you are more familiar with the city, please feel free to speak up in the comment section below.

  • I love Paris.

  • The Parisian art of people watching is alive and well. One of my favorite things about Paris is how so much of the cafe seating faces out toward the street. That’s what you’re supposed to be watching: urban life.
  • Most cities have a clear message. In Los Angeles, it’s probably that you should be more famous. In Boston, it’s arguably that you should be smarter. And in New York, it is perhaps that you should be richer. In Paris, the message feels loud and clear: You should be more fashionable.
  • Compared to Toronto, the center of Paris feels far more static. Less construction. Less change. Less that is new. That’s not such a bad thing given how beautiful the city is. But in my view, cities are about balancing preservation and progress. From what I could tell, a lot of the new construction seemed to be happening in the suburbs and in the outskirts of the city.
  • That said, COVID feels much further along in Paris. The city was very open and everyone seemed to be back in the office. Locals said that the city was operating at maybe 80%. It felt busy.
  • Dress shoes are dead in Paris. Everyone wears cool sneakers no matter how young or old. Think business suits with Nike Air Maxes. My hypothesis is that it’s just far more practical given how much people walk in Paris. I plan to adopt this strategy immediately.
  • In addition to walking, everyone seemingly bikes and/or uses an electric scooter. Again, it didn’t seem to matter how young or old. Paris also seems to have solved the scooter clutter problem, as has many other cities. There are designated spots (painted lines next to on-street car parking) and that’s where you’ll find the scooters. Toronto needs to get on board.
  • Traveling at 300 km/h on a train is a highly civilized way to move between urban centers.
  • There’s nothing wrong with having a picnic and drinking a bottle of wine (or two) in a park. In fact, it is probably something that should be celebrated. Let people be grown-ups.
  • When you purchase a baguette, you should immediately take a bite out of it to see how fresh it is.
  • The Eiffel Tower, much like the CN Tower, looks far better when illuminated.
  • Balconies of any size can be wonderful. We had a small Juliet balcony off of our hotel room in Nice and we used it every day for croissant eating and to dry our bathing suits. In a more permanent situation, I am sure we would have started growing things on it.
  • Midrise buildings do indeed create nice urban street walls. But it’s important to keep in mind that Paris’ midrise blocks are also deep and dense and with lots of courtyard conditions. That’s how the city is able to house so many people at such low building heights.
  • Facing conditions between buildings is less of a concern when you employ less glass. Smaller punched windows allow you to better manage privacy. I would go so far as to argue that if Paris were an all-glass city, much of its current built form would be fairly unlivable.

  What did I miss in this list?

  Photo by Alexander Kagan on Unsplash

  2021.09.30

• 🙌 La Bovida

  

  Paris 1e

  2021.09.25

• Unicorns overwhelmingly originate in big cities

  In the world of startups, a unicorn is used to refer to a company with a market cap greater than $1 billion. A decacorn, the latest benchmark, is what it sounds like in that it’s a company with a market cap greater than $10 billion.

  While unicorn status is just one measure, valuations are an important yardstick for cities and countries. How many big new companies are you creating? That is a critical question because, presumably, these big new companies are going to create a bunch of new jobs and generate a lot of new wealth for people.

  This recent blog post by Elad Gil is a great summary of what’s happening in the world from this perspective. The raw data is also available if you’d like to dig deeper.

  Here are the number of new unicorns since October 2020 by city:

  

  Silicon Valley, not surprisingly, continues to dominate, followed by New York.

  Here is a breakdown for the United States as a whole:

  

  Miami and Austin have been in the news a lot over the past year and their startup scenes may very well be on the rise relative to other US cities. But it’s interesting to see other smaller cities on this list, like Salt Lake City, who are, at least right now, holding their own.

  I found this last set of two charts particularly interesting:

  

  

  They are showing unicorn count (first) and unicorn market cap (second) as a percentage of their respective countries. For example, Silicon Valley is sitting at about 47% and 51%, respectively. So about half of all unicorns in the US have originated from this geography.

  But for most other cities on this list, the percentage is much higher and, in many cases, it is 100%. (Silicon Valley is perhaps relatively low because the US has lots of other big and important cities.) For me, this shows the continued dominance of cities. If you’re building the next great unicorn or decacorn, the data tells us that you’re probably doing it in a big city somewhere. And I don’t see that changing anytime soon.

  2021.06.27