We help clients develop projects that shape the future of their communities
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.
Our three development divisions and two complementary services serve clients in every asset class, throughout the project life cycle.
58
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.
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
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.
View Sample Projects
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
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.
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.
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.
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.
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.
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.
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.
April 2024 Cutting Red Tape to Build More Homes Act
2023 Fall Economic Statement Summary
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.
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.
