An eye for the address
Credit to Author: ANNA CAYCO| Date: Sat, 23 Mar 2019 16:20:37 +0000
How cities evolve can be approached thoughtfully and designed with the community at the core of it all. It’s the confluence of sustainability and real estate that is the key
Filipino-Canadian Macario “Tobi” Reyes is living every person’s dream. He says: “I walk to work… My office is in a company-owned warehouse, two blocks from my home.”
Such convenience is not only because of Vancouver’s efficient urban planning, but also because of Tobi’s eye for location, which is a necessity as the founder and chief executive officer of PortLiving, one of Canada’s most progressive and successful property developers.
Some might say that real estate is in Tobi’s blood. He’s the grandson of the late businessman David Mendoza “D.M.“ Consunji of DMCI Holdings Inc. Ironically, Tobi found his heart in real estate almost by accident. His long journey toward success is a product of a constant curiosity for innovation, risk-taking spirit and sense of compassion.
Tobi has been a Vancouver local ever since his parents migrated to that chilly but gracious city in 1979. After graduating from Queen’s
University with a degree in psychology and history, he found that his annual visits to the Philippines were not enough to satisfy his cravings to reconnect with his cultural roots.
He recalls: “No matter how long I had been out of the country, it [after graduation] was a good a time as any to be with family, meet new people and get reacquainted with the Philippines.”
His return to Manila in 2000 would lead him away from the social sciences and into business instead. Inspired by tech giants of the time like Bill Gates, Steve Jobs and Michael Dell, Tobi established his first entrepreneurial venture: Impact Information Systems, a start-up dial-up internet service provider.
Unfortunately, alternating between sunny Manila and bone-cold Vancouver took quite a toll on the young businessman. He admits: “After operating in two distant time zones for many years, I longed for some stability — some place to call home without the pressure of getting on a 12-hour flight every few weeks.
“I subconsciously felt the desire to own and operate something that I could touch and hold, as opposed to the intangible world of bits and bytes.”
And there is nothing more tangible than land. Far from being defeated, Tobi returned to Vancouver to add another industry to his growing repertoire — real estate. Without any prior experience in property development or land banking, Tobi channelled his funds into a nondescript warehouse at the edge of the central business district in 2003.
“I did not expect my world to be forever changed,” he recalls. Establishing PortLiving — “port,” referring to his hometowns Vancouver and
Manila — as a fully-functioning company would take Tobi 10 years to complete. Most of the brunt work still fell on his shoulders as he simultaneously juggled company roles, working with various partners, while still learning more about the ins and outs of land development.
Tobi sees challenges not as hurdles but as opportunities to grow. He says: “Every project requires so many specialties from start to finish. With scale has also come a chance to be more creative.”
Even at present, Tobi says his day is never the same experience. “Every day is a mix of routine requirements, opportunities to evolve as a leader and a chance to learn more about how we can become better at what we do.”
Such a mindset had helped Tobi turn the global financial crisis of 2008 to his advantage. At that point, his fledgling company had its eye on increasing the quantity of its properties. Yet, the income of these lots was not enough to cradle the blow of the recession. This would be Tobi’s light-bulb moment, landing PortLiving on Canada’s list of rising real estate developers.
Tobi says: “I recognized the reality of a market cycle in my new industry, but also the potential benefits of such a moment. It’s such a great time to invest.” He steered PortLiving’s direction around toward funneling their money into upgrading the properties they already had.
With encouragement from city hall, lower construction costs and an abundance of land, PortLiving erected its first residential condominium, South Creek Landing, which won prestigious architectural awards like the Lt. Gov. Special Jury Award for Contextual Innovation and the Georgie Award for the Best Multi-family Mid-rise or High-rise in 2016.
South Creek Landing’s chic and forward-thinking design, with its floor-to-ceiling windows and shard-like structure, would set the standard for Tobi and his team’s contribution to forward-thinking luxury residential, commercial and mixed-use properties to the “City of Glass,” as Vancouver is dubbed.
“Clearly, my grandfather D.M., whom we called ‘Papa Con,’ was a major influence on me personally and inevitably, professionally,” Tobi says.
“While he was a very grounded, disciplined leader, he also believed in the value of risk-taking and in protecting one’s reputation — one’s brand.”
Aside from his unconventional beginnings, what makes Tobi stand out from most real estate developers is his belief and advocacy for the wellness of the communities surrounding his properties. Going beyond raking in profit, he is motivated to further refine the quality of life for these neighborhoods through PortLiving’s mindful and environmentally sustainable development and design.
Tobi explains: “How that happens and how cities evolve can be approached thoughtfully and designed with the community at the core of it all.”
While many may find environmentalism and land development to be on opposite ends, Tobi makes it his mission to integrate the two. After all, one of his projects is the One Earth Initiative, a nonprofit research and advocacy group for sustainable production and consumption.
“My current point of confluence between sustainability and real estate involves our project called Terrace House,” Tobi says with pride.
The Terrace House is expected to be Tobi and PortLiving’s greatest feat to date. With Pritzker Architecture Award winner Shigeru Ban, they are currently building the tallest North American timber hybrid tower located in downtown Vancouver’s most prestigious neighborhood, Coal Harbor. Set for completion by 2020, the 232-foot-tall shard-like tower aims to reduce carbon emissions and maximize natural lighting, and at the same time, stand for luxury personified
Amid all the accolades, Tobi has not forgotten his heritage. His inclination toward community-building is reflective of the bayanihan spirit (famous Filipino trait of neighborly cooperation) found in most Filipinos abroad. Tobi says: “I wish to use my real estate background to contribute to a global network of Filipino Cultural Centers that could continue to share our culture with others, provide business opportunities and somehow support the lives of Filipinos living abroad as a means of keeping them connected to each other and the Philippines.”
Tobi’s path to success has been a long and winding one, but choosing the road less taken has sharpened and refined his vision and his skills as an entrepreneur. With roughly 40 employees and over 1,000 condominiums under development across the Great White North, he continues to push the boundaries with art, sustainability and commerce while doing the Filipino name proud.
Now, as a father of two young girls, Isabella and Madeleine, with whom he loves to escape to sunnier destinations like Los Angeles, Mexico and Hawaii from time to time — Tobi keeps his gaze to the future. He says: “I develop properties, not just for myself or my company, but with a decades-long view, hopefully in alignment with the values of the communities that we invest in.”
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