In Conversation With... Shaun Levy, Vice-President, Finance and Operations, Flato Developments
June 01, 2022
If you’re looking for a new-home builder known for constructing quality homes, the housing industry in the GTA and surrounding area is blessed with many of them. If it’s also important to you that such a company develop complete communities, not just build houses, and give back to the community in meaningful ways, well, you can’t do much better than Flato Developments Inc.
Indeed, the company is known for all kinds of community initiatives and charitable support, almost as much as it is for delivering quality homes in creative ways that help homebuyers.
Vice-president of finance and operations Shaun Levy shares some insights into the company’s philosophy, and what, where and when it plans to develop next.
In our 2022 Builders’ Annual, you said you saw 2022 still as a year of homebuying opportunities for new-home buyers. With recent developments (inflation, rising interest rates…) how would you characterize things now?
We see a levelling out for a few months, and it will be very challenging for new-home buyers, especially first-time homebuyers. However, due to short supply, we still foresee strong demand outstripping supply.
What new-home buying opportunities does Flato have in the pipeline?
We have new projects coming online where there will be exciting opportunities for buyers. We plan to launch a new project called GreyStone Village in Owen Sound, a master-planned community with singles, traditional towns and back-to-back towns, commercial buildings and rental apartments. Another project that may come this year is the new phase of Carriage House in Dundalk, with singles and towns. A few more projects are planned down the pipeline.
If you had the opportunity to speak directly to the Premier of Ontario on this topic, what would your advice be?
I can’t speak for the premier, but I do know that he or she would do all in their power to help address the chronic shortages in the construction industry.
Flato is doing some great things in Dundalk and other locations. What’s next for the company?
Flato has exciting developments coming in Beeton, Lindsay and Owen Sound.
On a personal note...
Who or what is the biggest inspiration for what you do?
Nelson Mandela, as his spirit of forgiveness resonated with me. We can all be more helpful and forgiving in our day to day lives.
How have you adjusted your life as a result of the pandemic? For example, putting more emphasis on wellness, new hobbies or interests…
I am definitely getting good use out of my Peleton bike, which I acquired during the pandemic. I quite enjoy being able to work out at home.
What’s on your reading list these days?
Jeffrey Archer, A Prisoner of Birth, and Phil Knight’s story about building Nike.
About Wayne Karl
Wayne Karl is an award-winning writer and editor with experience in real estate and business. Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. wayne.karl@nexthome.ca