For more than 30 years, Solmar Development Corp. has focused on excellence, whether it's building highrise projects in the GTA or lowrise communities in Niagara-on-the-Lake, or delivering on its promises of exemplary customer service.
Director of Sales & Marketing Angela Marotta shares her insights on what the company values most, and where it plans to go next.Condo Life: Solmar has been in business for more than 30 years. What have been the keys to your success over this time? Angela Marotta:
We are family owned and operated, and as key family members, we have continued to share the same philosophy and vision for the company for all these years. Each project is thoughtfully designed with the buyer in mind. From our amenity spaces to landscape and surrounding greenspace, and ultimately to the suite and home designs.When we acquire property, we always have the big picture in mind, which has allowed us to navigate through any difficult zoning and planning issues, and consolidation of various parcels of land. We have a very strong planning department and consultants that have been with Solmar from inception. They understand and continue to support the long-term vision to bring our projects to final stages. As principals, we are involved every step of the way. My father, Benny Marotta, is a visionary and has a very keen eye for design and architecture. No architectural plans are redesigned or enhanced without him and then flowed to myself and brother-in-law Giuseppe Paolicelli for final review, always with the buyer in mind.CL: The homebuilding industry is undergoing a lot of change these days, with increasing government involvem ent, policy issues and other challenges. How do you see all this playing out in the foreseeable future? AM:
Regulatory changes within the Planning Act have given municipalities more local power to facilitate change in zoning bylaws, and thus hopefully allow for economic growth within their communities. As developers, we have faith that the governing bodies take into consideration the future economic growth, together with quality of life of residents. There has to be a balance.However, changes to the Ontario Municipal Board are somewhat troublesome, as they may restrict the tribunal to propose decisions based on the best planning solutions, as the process has now been fast-tracked. It's complicated, and I'm still trying to come to grips with the pros and cons. There will always be complex appeals, which make the process difficult to navigate. We will always try to push higher density on proposed developments, as it increases their viability. Giuseppe works very closely with our inhouse planner to ensure that we do.CL: Affordability is a growing concern for homebuyers in the GTA, but much of what determines end costs – land use policy and availability and approvals processes – are out of builders' control. How does Solmar address the affordability challenge? AM:
Everything boils down to timing and the span from inception of a project to construction to proposed occupancy. We never rush developing our proformas without having a clear understanding and comfort level of the market and future costs that are at times not completely defined. We are careful, but still take on a level of risk that we are comfortable with. We never want to sell out a project that quickly. Allocations are determined and timelines for release are defined so we always have a contingency whereby we retain flexibility with pricing over time to protect us against any instabilities or change.We also try to price ourselves at or just above market without being "out of" market. Our projects are higher end, with various luxury amenities and features that attract a consumer that appreciates value and may be willing to spend a little more as a result. We attract a lot of end consumers, and any investors purchasing in our projects feel comfortable knowing they have a secured investment based on our reputation as a builder.CL: Where do you see the next homebuilding – and therefore, for customers, homebuying – opportunities in the GTA, in terms of geographic area and housing type? AM:
Consumers are finding pricing within the downtown core to be very high and competitive. Projects such as ours at The Edge in Mississauga allow consumers to have homeownership at much more reasonable pricing, gain equity over time and still be able to work in the city due to the great transit infrastructure in Mississauga. The LRT is along Hurontario right at The Edge. With higher density projects outside of the downtown core, you're seeing more and more buyers looking there. Our project at Park Avenue Place in Vaughan, which is sold out, saw buyers coming from all across the GTA. Again, municipalities that have planned and developed transit infrastructure well have seen economic growth and a superior quality of life in their community as a result.CL: How are things coming along at Edge Towers in Mississauga? AM:
We're excited to see the development come to life. It took great perseverance to consolidate individual lots to comprise what is now three luxury buildings with more than 1,400 units. Tower 1 is currently under construction and nearly sold out. Tower 2 is not far behind, with construction starting before the end of the year and nearing 80 per cent sold. Tower 3, launching this fall, will be the pinnacle of the project, with 50 floors of luxury suites and amenities that will make this tower a unique place to live.CL: And at Park Avenue Place in Vaughan? AM:
Park Avenue is currently under construction with occupancy set for fall 2020. This has been an amazing project, as it is referred to as the sister project to our now completed highrise, aptly called Bellaria, which was the first development of its kind in Vaughan. Park Avenue comprises two towers of beautifully designed suites located at the south east corner of Jane and Rutherford. This project saw lots of end users as buyers, many of whom were referrals from Bellaria – a major source of pride for us.
AND ON A PERSONAL NOTE:If I wasn't involved in homebuilding, I would:
Be in the hospitality industry, as my passion is wine and food. Together with our family, my sister Melissa Paolicelli and I own and operate Two Sisters Vineyards.My greatest inspiration in this business is:
My father. I have seen him take on such high levels of risk and navigate through them in the most decisive and intelligent way. He has accomplished great things and built or developed many landmark communities that we are very proud of.When I'm not at the office, I:
Am enjoying quality family time with my three teens and the rest of our close family in Niagara-on-the-Lake, preferably at the Vineyard! We live part time in NOTL, and it has become such a special place for us all.PORTFOLIO Edge Towers
Downtown MississaugaUnder construction and register nowPark Avenue Place