EllisDon Capital

EllisDon Capital helps all orders of government, non-profits, and indigenous groups realize the assets that will benefit their communities for generations to come.

We’ve delivered some of the largest, most complex infrastructure and residential projects in North America. The evidence is at the places where we receive care, where we learn, and where we work; the venues where we’re entertained; the homes we live in; the transportation infrastructure that helps us get around; and the public institutions that serve us.

Joey Comeau signature
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P3 Financial Closes
$980M+
Equity Placed
$25B+
Total Capital Cost of Financially Raised Projects
$258M+
EllisDon Equity Invested
$14.3B+
Private Capital Raised for Projects
$7B+
Total Capital Cost of Assets Under Management

Ambition. Accountability. Accomplishment.
Everything you’d expect from EllisDon.

EllisDon has developed a complete suite of construction services by celebrating entrepreneurial spirit. EllisDon Capital has blossomed for the same reason.

In 2003, when we embarked on our first Public-Private Partnership projects, the original members of Capital were given licence to invest in our clients’ projects. We were the first Canadian construction company to take equity positions in P3s. And today, our Financial Advisory is a sophisticated consultancy with an outstanding record of achieving competitive financial commitments for well over 100 P3 projects and never failing to reach Financial Close. Similarly, we built a team of asset management experts to support clients through the design-build phase and long-term operations.

Our Community Builders and Developments teams were born of a vision to address Canada’s housing crisis. They apply expertise gained on dozens of complex infrastructure projects to affordable housing and market real estate.

Danny Giacomel SVP Public Infrastructure at EllisDon Capital

Danny Giacomel

Senior Vice President, Public Infrastructure

Public Infrastructure

EllisDon Capital’s innovation was integrating three crucial aspects of project execution. We got involved in public infrastructure projects from the conceptual stage, with financial services; with EllisDon’s renowned design-build experience; and with asset management to guide developments through construction, operation, and long-term concession periods.

We apply deep expertise and lessons learned to new infrastructure projects, to progressive new delivery models, and to new initiatives that broaden the scope of Capital’s services in Canada and the USA.

We’re one of the only integrated players in the industry with the ability to be a 100% equity partner and to invest in our clients.

Western Canada and the US

EllisDon has had a significant impact on public infrastructure in Western Canada. We have completed large projects in all major sectors building international airports, developing, constructing and maintaining hospitals, transit and public institutions. Every aspect of our Capital teams’ services plays a role. And we’ve integrated EllisDon Facilities Services to serve clients through Operations and Maintenance.

Our team also collaborates with EllisDon’s offices south of the border to serve clients in the United States. Our work as developer, investor and facilities services provider to Prince George’s County Public Schools in Maryland is an excellent example.

Ben Deeley

Ben Deeley

Senior Vice President, Public Infrastructure

In addition to development, financial and facilities management services, it’s always exciting to promote community-based business opportunities across North America.

South Niagara Hospital

Niagara Falls, ON

Overview

Project: South Niagara Hospital

Location: Niagara Falls, ON

Client: South Niagara Hospital

Model: Design-Build-Finance-Maintain

Capital Cost: $2.1 billion

Our Roles: Lead Developer, Equity Investor, Financial Advisor

Other EllisDon Services: Facilities Management, Sustainability

New Toronto Courthouse

Toronto, ON

Overview

Project: New Toronto Courthouse

Location: Toronto, ON

Client: Infrastructure Ontario

Model: Design-Build-Finance-Maintain

Capital Cost: $573 million

Our Roles: Lead Developer and Equity Provider

Other EllisDon Services: Facilities Management, Sustainability

Awards

2013 Project Finance Magazine: North America’s Public-Private Partnership Deal of the Year; 2013 Gold – National Awards for Innovation & Excellence (Infrastructure) from the Canadian Council for Public-Private-Partnerships (“CCPPP”); 2014 Award of Excellence in the engineering for the Lees Ave Bridge• Best Rail/Transit Project in the Americas – P3 Bulletin; 2017 Infrastructure Project of the Year – Tunnelling Association of Canada Awards; 2021 LEED Silver Status

Oakville Trafalgar Memorial Hospital

Oakville, ON

Overview

Project: Oakville Trafalgar Memorial Hospital

Location: Oakville, ON

Client: Halton Healthcare Services

Model: Design-Build-Finance-Maintain

Capital Cost: $1.1 billion

Our Roles: Co-Developer and Equity Investor

Other EllisDon Services: Facilities Management, Energy & Digital Services

Awards

2016 Gold Award for Infrastructure – Canadian Council for Public-Private Partnership; 2020 Best Sustainable Buildings Gold Certification – Building Owners and Managers Association (“BOMA”) Toronto; 2021 Global Real Estate Sustainability List, Global Real Estate Sustainability (“GRESB”); 2021 Earth Awards – Health Care Facility, BOMA Toronto

Ottawa LRT – Confederation Line

Ottawa, ON

Overview

Project: Ottawa LRT – Confederation Line

Location: Ottawa, ON

Client: City of Ottawa

Model: Design-Build-Finance-Maintain

Capital Cost: $2 billion

Our Roles: Co-Developer, Equity Investor and Financial Advisor

Other EllisDon Services: Facilities Management

Awards

2013 Project Finance Magazine: North America’s Public-Private Partnership Deal of the Year; 2013 Gold – National Awards for Innovation & Excellence (Infrastructure) from the Canadian Council for Public-Private-Partnerships (“CCPPP”); 2014 Award of Excellence in the engineering for the Lees Ave Bridge • Best Rail/Transit Project in the Americas – P3 Bulletin; 2017 Infrastructure Project of the Year – Tunnelling Association of Canada Awards; 2021 LEED Silver Status

Brampton Civic Hospital

Brampton, ON

Overview

Project: Brampton Civic Hospital

Location: Brampton, ON

Client: William Osler Health Centre and The Healthcare Infrastructure Company of Canada

Model: Design-Build-Finance-Maintain

Capital Cost: $550 million

Our Roles: Co-Developer and Equity Investor

Other EllisDon Services: Facilities Management, Energy & Digital Services

Awards

2008 Citation of Merit, Brampton Urban Design Awards; 2006 Ontario Concrete Awards

Emily Carr University of Art + Design

Vancouver, BC

Overview

Project: Emily Carr University of Art + Design

Location: Vancouver, BC

Client: Emily Carr University of Art + Design

Model: Design-Build-Finance-Maintain

Capital Cost: $104 million

Our Roles: Developer and Equity Investor

Awards

2018 LEED Gold Certification; 2021 Global Real Estate Sustainability List, GRESB

Saskatoon Civic Operations Centre

Saskatoon, ON

Overview

Project: Saskatoon Civic Operations Centre

Location: Saskatoon, ON

Client: Integrated Team Solutions SCOC Partnership

Model: Design-Build-Finance-Maintain

Capital Cost: $199 million

Our Roles: Developer and Equity Investor

Awards

2021 Global Real Estate Sustainability List, GRESB

Thunder Bay Correctional Complex

Thunder Bay, ON

Overview

Project: Thunder Bay Correctional Complex

Location: Thunder Bay, ON

Client: Infrastructure Ontario/The Ministry of the Solicitor General

Model: Design-Build-Finance-Maintain

Capital Cost: $744 million

Our Roles: Lead Developer and Financial Advisor

Other EllisDon Services: Facilities Management

Affordable Housing

EllisDon Community Builders was born when members of our Capital team saw the opportunity to use infrastructure development methodologies to address Canada’s housing crisis. As Community Builders, they integrate design, construction, financing, operation and maintenance expertise to help clients develop affordable and supportive accommodation nationwide. EllisDon has led or is currently leading the development of over 1,200 affordable residential units across Canada, totaling approximately 1.2 million square feet, across various built-forms and with a capital cost over $400 million.

Nick Gefucia

Nicholas Gefucia

Vice President, EllisDon Community Builders

The service has several components. It requires analyzing feasibility, allocating risk to parties that are equipped to manage it, and getting involved in projects early to build an interdisciplinary team that can serve the client throughout the development lifecycle.

If you are considering a development, talk to anyone on our team about our advisory service. It’s not a sales pitch but a real-world assessment of feasibility compiled in a comprehensive report. It’s knowledge that’s hard to come by – the intelligence you need to decide whether to pursue a development. Yes, we charge for these reports; but they’re a small and valuable investment. And yes, we want you to choose us to help you if you decide to go ahead with your project. But we gain nothing from encouraging a client to take on a project that cannot be completed.

Beyond the Preliminary Development Report our services cover financial solutions, regulatory compliance and approvals processes, and design-build selection and oversight. Let’s discuss the details.

We are uniquely equipped to deliver affordable housing at scale at any point of the compass.

259 Backstreet Blvd

Penticton, BC

Overview

Project: 259 Backstreet Blvd

Location: Penticton, BC

Client: BC Housing

60 Caledon Ave

Hamilton, ON

Overview

Project: 60 Caledon Ave

Location: Hamilton, ON

Client: Victoria Park Community Homes & East Kiwanis Non-Profit Homes

140 Merton

Toronto, ON

Overview

Project: 140 Merton

Location: Toronto, ON

Client: Missanabie Cree First Nation

Oliver Affordable Housing

Oliver, BC

Overview

Project: Oliver Affordable Housing

Location: Oliver, BC

Client: M’akola Housing Society

822 Gladstone Ave

Ottawa, ON

Overview

Project: 822 Gladstone Ave

Location: Ottawa, ON

Client: Ottawa Community Housing

122 Baseline Road West

London, ON

Overview

Project: 122 Baseline Road West

Location: London, ON

Client: Housing Development Corporation

Wildwood Affordable Housing

Calgary, AB

Overview

Project: Wildwood Affordable Housing

Location: Calgary, AB

Client: City of Calgary

Friends of Ruby (Egale Centre)

Toronto, ON

Overview

Project: Friends of Ruby (Egale Centre)

Location: Toronto, ON

Client: Egale Canada

Habitat Affordable Housing

Mississauga, ON

Overview

Project: Habitat Affordable Housing

Location: Mississauga, ON

Client: Habitat for Humanity Halton-Mississauga

Affordable Housing Bulletins

The Federal Lands Initiative Update

The Federal Lands Initiative is a $316.9 million program designed to facilitate the transfer or leasing of surplus federal lands and buildings to eligible applicants. These properties are made available at reduced prices or, in some cases, at no cost, with the objective of transforming them into affordable housing.

This bulletin describes opportunities coming out of the latest update to the Initiative.

Download PDF
CMHC Co-op Housing Development Program

This bulletin summarizes the CMHC’s latest update to the Co-operative Housing Development program.

The update includes information on funding options, approval processes, and timelines for co-operative housing initiatives.

Download PDF
June 2024 CMHC Insurance Update

CMHC has issued updates regarding the current Multi-Unit Mortgage Loan Insurance program. The updates change refinancing criteria, project classification, MLI Select Criteria, amortization extension, use of lender correspondents, and environmental site contamination requirements.

This bulletin from EllisDon Community Builders summarizes aspects of the updates that might affect you.

Download PDF
2024 Federal Budget Summary

In April 2024, the Government of Canada delivered the 2024 Federal Budget: Fairness For Every Generation. The budget for this year focuses on building more affordable homes by increasing funding and introducing new initiatives to ensure equal opportunities for all Canadians. This bulletin from EllisDon Community Builders provides a summary of proposed measures.

Download PDF
April 2024 Cutting Red Tape to Build More Homes Act

Ontario is proposing the “Cutting Red Tape to Build More Homes Act” as its next step in increasing housing supply.

With the Act, which will be brought forward under Bill 185, the government suggests changes it says will affect a number of current barriers to housing developments. Some of these changes affect current development charges and Ontario’s land-use planning framework; the government says they are intended to reduce development timelines and costs.

As housing continues to be unattainable for many, the Government of Ontario says Bill 185 focuses on providing solutions to support the construction of more housing units, and to meet the Ontario Housing Supply Action Plan target of building 1.5M homes by 2031. This bulletin highlights the solutions being proposed in Bill 185.

Download PDF
2023 Fall Economic Statement Summary

On November 21 2023, the Government of Canada (the “Government”) released the 2023 Fall Economic Statement: Building a strong economy that works for everyone. The budget for this year delivers the next phase of the government’s economic plan to help create good jobs, build more homes, and make life more affordable. This bulletin from EllisDon Community Builders provides a summary of Canada’s Housing Action Plan.

The Government’s 2023 Fall Economic Statement allocates $20.8 billion in spending over the next six years focusing on priorities including affordable housing, elevated interest rates and high inflation. The International Monetary Fund projects that Canada’s economic plan will deliver the strongest economic growth in the G7 next year (Figure 1). Canada’s economy has remained resilient since the pandemic recession and has had a strong recovery. Yet, Canadians continue to struggle and face economic challenges as housing costs remain high, and to combat inflation around the world, the world’s central banks have implemented the steepest series of interest rate increases in decades.

Download PDF

Real Estate

As members of Capital, we contributed to projects that had a combined capital value of more than $25 billion and raised almost $1 billion in equity. Turning our expertise and creativity to real estate development, we use interdisciplinary services to deliver financial certainty, quality, and reliability–the hallmarks of EllisDon—to thoughtfully-designed residential and commercial real estate.

Visit ellisdondevelopments.com to learn more about the real estate division of EllisDon. And head over to ArcadiaDistrict.com to see our latest master-planned condo community in Etobicoke.

Chris Smith

VP Real Estate

The goal: to enhance communities, minimize risk and create long-term value for buyers, investors, real estate professionals, and local stakeholders.

Jeff Brace, SVP EllisDon Capital Financial Advisory

Jeffrey Brace

SVP Financial Advisory

Financial Advisory

Our Financial Advisory is a proven, market-leading team. We’ve secured competitive, committed financing for more than 100 large and complex P3 projects.

We lead all aspects of the financing process, from initial market sounding to financial close. Within this scope we provide debt structuring, negotiation with lenders, financial modelling, collaboration with due diligence advisors, and rating agency advice. 

Clients benefit from a full suite of financial resources and capabilities, including our long-standing relationships within an extensive network of key funders in the sector: major bank lenders, private placement investors and debt capital markets underwriting teams.

It’s a point of pride for the Financial Advisory team that we have a 100% success rate: we’ve never failed to secure committed financing for a bid submission, and we’ve never failed to reach financial close on the 58 projects that have been awarded to us.

Asset Management

Our nationwide Asset Management team governs and coordinates the delivery of projects procured under Public-Private Partnership models.

These complex, long-term projects require engineering, design, construction, operations and maintenance services. Our mandate is to manage the relationships between integrated project participants to deliver interdisciplinary solutions that comply with contract terms. The process brings to light operational considerations that are vital to developing high quality infrastructure that performs well long term and costs as little as possible to maintain.

Hugh Kerr

VP Asset Management

In the delivery phase, the Asset Management team uses lessons learned on exemplary projects to achieve the results our clients envisioned. We identify and mitigate risk, help find solutions to commercial matters, and monitor quality and schedule. We also manage finance and lending obligations in compliance with contract documents, covering project cash flows, insurance coverage, audits, change management and lender consents.

We see our prime function as listeners; we understand the needs of our clients and find tailored solutions that address them.

Contact

For more information, please contact us.

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