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Industry

Real Estate

Company Type

Residential Real Estate Development

Size

$50 Million Equity & $740 Million Debt

Investment Type

Equity/Debt

For additional information, please contact:
Doug Jendras | Managing Director
(203) 501-7667

Human Habitats Reimagined

 

As a mission-driven development company, Inspira is committed to making a positive change in the world by creating exceptional habitat communities that contribute to the sustainable growth of its inhabitants, neighbourhood and environment.

Overview

Inspira Development is raising $880 million ($50 million of equity and $740 million of debt) to develop Inspira SkyCity, an iconic residential development in Surrey City, British Columbia, Canada.

 

  • $70 million is expected to be received from resident deposits
  • Connected to all major urban centers by rapid transit – optimal location 80 yards from the Gateway Skytrain Station
  • 1,900 units in three towers, with over 75,000 SF of commercial, retail and services
  • Surrey is one of the largest and fastest growing cities in Canada
  • High density area providing housing at affordable prices to the increasing population
  • The city is planning to expedite the project approval process

Opportunity

  • Urgent need of housing supply in Metro Vancouver region with supply lagging behind significantly

 

  • Surrey is poised to have 1 million residents by 2030, becoming the largest populated municipality in Metro Vancouver region

 

  • Canada has a stable geopolitical landscape, well-regulated banking and real estate sectors along with strong law and order attracting affluent investors and immigrants from all over the world

 

  • Surrey is attracting record immigration, foreign students and intercity migration

 

  • Strong job sector and local economy

The Project

  • Architecturally timeless and aesthetically designed multifamily and mixed-use development

 

  • Located in a transit-oriented core where density approvals from the city are relatively fast and easy

 

  • Required approvals:
    • Council readings 1st, 2nd & 3rd for PLA ( preliminary layout approval), rezoning and general development permit) – anticipated within 6-8 months
    • Development permit for individual phases –  anticipated 4-6 months after approval of PLA /General DP
    • Building permits –  for entire garage and above grade Tower 1 and 2 within 6 months after issuance of development permit

 

  • Strong and diverse job market, favorable demographic trends, growing population of buyers and renters, and an undersupply of market condo and rental units – with high barriers to entry

Management

Jit Daara

President & CEO

Over 25 years of experience in turnkey commercial and residential construction, international trade shows and exhibitions, specialty and custom interiors, manufacturing and fabrication. As the Founder Director of Dara Projects Pvt Ltd (India), expanded the company’s operations across various cities in India serving international clientele. Immigrated to Canada in 2012 and gained significant experience in the Canadian construction industry by providing project management services for residential and commercial projects. Vast and varied business experience in general contracting, project and construction management.

 

Professional Accreditations:

  • Bachelor of Commerce – Delhi University, (India)
  • Licensed Realtor – UBC, Sauder School of Business – Century 21 Coastal Realty (Surrey)
  • Licensed HPO Builder

Ayesha Atif

Sr. Vice President – Business Strategy and Sales

Accomplished professional with over 15  years of experience in strategic business planning and sales. Analytical abilities, attention to detail, mature design sense and team management. Works closely with the project planning, interior design, architecture, marketing and sales to bring the projects from concept to execution.

 

Professional Accreditations:

  • Masters of Business Administration – Institute of Business Management (Karachi)
  • Bachelors of Business Administration – Institute of Business Management (Karachi)
  • Licensed Mortgage Broker – Mortgage Architect (Canada)

Specific Risks

  • Delays in fundraising and impact on existing loans
  • Delays in approvals and presales
  • Any unexpected global event impacting the economy
  • Construction delays
  • Supply chain disruptions
  • Interest rate fluctuations
  • Regulatory industry risks
  • Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment
Learn More About Inspira Development

Thank you for your interest in Inspira Development.

Please fill out your information and we will contact you shortly with more information on this opportunity.

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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