David Podmore, a Canadian real estate icon, will be retiring as chair of Concert Properties effective June 30, 2024.
Podmore started the Vancouver company with co-founder Jack Poole in 1989. Since then, the company has grown to include a number of corporate entities with diversified operations across the country, with over $9 billion in assets.
After a new chair is named, Podmore will work closely with the appointee to ensure a smooth transition. On July 1, he will remain in an advisory capacity as chair emeritus to support the board and Christine Bergeron, president and CEO, Concert Properties.
“I am confident that now is the time to step aside and entrust the company’s continued success to our highly qualified and knowledgeable board of directors, and the experienced leadership team led by Christine,” said Podmore. “It has been the honour and privilege of my life to lead Concert. I will leave knowing my partner Jack would have been proud to see all that we have accomplished.”
In June, Podmore will be celebrating his 75th birthday and Concert Properties will be turning 35.
“We have achieved a great deal over the years. Among our accomplishments, we have built over 13,800 homes, which include 1,450 assured and affordable homes, with approximately 9,000 more in our development pipeline. Additionally, we currently own and manage over 13 million square feet of industrial and commercial properties,” said Podmore.
Through Concert Infrastructure, the company has invested in, developed and now manages 10 essential Canadian public infrastructure projects.
”David’s legacy is truly remarkable, not only in the impact he has had on the Canadian built landscape, but perhaps more importantly the tremendous impact he has had on so many lives. On a personal note, I am thankful for David’s trust, leadership and friendship, and am grateful for the opportunity to learn from one of the most respected icons in Canadian real estate,” said Bergeron.
In addition to retiring as chair of Concert Properties, Podmore will also be stepping down as chair of Concert Infrastructure Fund (CIF) at the same time.
With an aggregate portfolio capitalization of $3.3 billion, CIF is an independent long-term investor, developer, and manager established 14 years ago to partner with governments to deliver critical public infrastructure assets that support essential public services that strengthen the economic and social fabric of Canadian communities.
