Luxury Real Estate Developer Sam Mizrahi has served the Canadian real estate community for over 25 years. As the founder and president of Mizrahi Developments, Sam has become a leader in the development of large scale luxury condominiums in Toronto and Ottawa. His expertise stems from his experience in custom home developments in areas of Forest Hill, Lytton Park, Port McNicoll, and Richmond Hill. Mizrahi is committed to growing the high-end luxury marketplace while creating sustainable and environmentally friendly projects that will stand the test of time.
We sat down with Sam to discuss his approach when it comes to high-end real estate that can make a positive impact on our world.
Q: Why do you think sustainability matters when it comes to developing new properties?
Sam Mizrahi: The conversation around sustainability is no longer just a ‘hip trend’ in the real estate marketplace. It has become a part of the fabric of the industry and consumers are starting to expect it. Sustainable practices not only reduce environmental impact, but they can help cut operational costs and increase the long-term value of properties. By doing our part when developing new properties, we can contribute to healthier living conditions and boost the conversation of sustainability practices that people can use in their day to day lives.
Q: What is Mizrahi Developments doing to meet your goals for sustainable and environmental spaces?
Sam Mizrahi: When we start a new project it is really important that we take the time to have conversations with residents of the community and city leaders and see what kind of improvements we can make in their area. Once we get to the building process, we turn to green technologies. We use low-impact materials to reduce waste and emissions. We also invest in renewable energy and efficient waste management systems. Smart home technology is another great way to ensure owners and tenants are comfortable while conserving energy use.
Q: What can be done about older properties that weren’t originally built with the same goals as properties of today? Can those spaces meet current standards?
Sam Mizrahi: Yes, absolutely. We are seeing really great innovations being implemented when it comes to renovating homes and condos in the industry. We are seeing more natural materials being used and alternatives that are more friendly to the environment. For those looking to renovate I would suggest taking a look at what can be saved and rehabilitated in the current space. Rather than replacing everything, you might be able to use original features like exposed brick to your advantage.
Q: What are the challenges that developers face when building sustainable properties?
Sam Mizrahi: I think it is important for people to realize that there can be higher costs upfront when building sustainably. The materials that we use are of high quality. You can’t cut corners. I think another challenge is knowing that you need to invest the time into making it all happen. Our team is constantly attending conferences, talking to industry professionals and doing research to stay up to date with the latest green measures that we can use in our developments. You need to be willing to commit 100% to sustainable and green practices.
Q: Where do you see the future going for the relationship between real estate and sustainable efforts?
Sam Mizrahi: I see the connection between the two getting stronger. I think that sustainability measures will remain an integral part of the industry well into the future. It pushes us to become innovative and find ways to build smarter. Sustainable practices have allowed us to help curb costs for tenants and renters, which helps with inflation and increased demand for housing. Sustainability doesn’t just positively impact the environment – it can have a transformative effect on the housing market and on the economy of a city or province.
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