Tariq Kassam is an influential leader in Canada’s real estate sector with over 15 years of experience. His expertise lies in transforming underutilized properties into profitable, vibrant community spaces. He specializes in developing multifamily rental projects strategically located near essential urban amenities and provides turnkey accommodation solutions for industries such as film, technology, retail, and insurance. Beyond real estate, Tariq is an active angel investor in technology startups, integrating innovative solutions into his projects to enhance operational efficiency and tenant experiences. His personal interests include soccer, skiing, and filmmaking, with his film projects often addressing significant social issues like discrimination and racism. Tariq’s holistic approach to real estate development not only yields financial success but also fosters community engagement and social responsibility.
What initially drew you to the field of real estate development?
I was intrigued by the tangible impact that thoughtful development can have on communities. The ability to transform landscapes and influence how people interact within those spaces really sparked my interest.
How do you identify potential in properties that others might overlook?
It’s about seeing beyond the present state of a property and imagining what it could be. I consider location potential, demographic trends, and inherent property characteristics that align with emerging market needs.
Can you share an example of a particularly challenging project and how you navigated those challenges?
A challenging project was revitalizing an old warehouse district. The key was engaging with the community early to incorporate their needs and balance historical preservation with modern utility. Navigating this involved clear communication, flexibility, and a commitment to community values.
What strategies do you use to ensure your real estate projects are environmentally sustainable?
We prioritize sustainable materials and energy-efficient designs. We also incorporate green spaces and aim for LEED certification to promote environmental responsibility in our developments.
How has your investment in technology startups influenced your real estate business?
Investing in technology startups has kept me on the cutting edge of advancements that can be integrated into property management and development, such as IoT for smart buildings and AI for enhanced customer interaction and operational efficiency.
How do you balance the risk and reward in real estate investment?
Balancing risk and reward involves thorough market research, diversification of property types, and sometimes, conservative financial modeling to ensure sustainability even in market downturns.
What role does community feedback play in your development projects?
Community feedback is crucial. It shapes project development to ensure that the end result is beneficial for both the users and the broader community. We often hold community consultation sessions before finalizing our plans.
In your opinion, what is the biggest misconception about the real estate industry?
The biggest misconception is that real estate is just about buying and selling properties for profit. In reality, it’s about providing value, enhancing lifestyles, and contributing to the economic and social fabric of communities.
How do you see the future of real estate development evolving in the next decade?
I see a greater integration of technology, with an emphasis on creating adaptive spaces that can evolve with changing human and environmental needs. Also, a stronger focus on mixed-use developments that foster community interaction.
Any advice for young entrepreneurs looking to enter the real estate industry?
Focus on learning as much as you can about different aspects of the industry, from construction to property management. Network extensively, find a mentor, and don’t be afraid to start small—every big developer began with a single project.