In Conversation With... Vince Santino, senior vice-president of development, Aoyuan Canada

One of the most notable master-planned communities being built in the city is M2M, Aoyuan International’s first development in Toronto. Located in a prominent neighbourhood in North York, just north of the Yonge and Finch transit hub, M2M boasts many of the things today’s new-home buyers are looking for.

When completed, M2M will comprise five towers, 1,650 residential units, tons of office and retail space, a community centre, children’s daycare and even its own greenspace for a future park.

We caught up with Vince Santino, senior vice-president of development, for an update on this fully integrated neighbourhood – designed for living, working and playing – and a possible surprise coming from Aoyuan this year.

How are things coming along at M2M?

Construction on our first phase has progressed very well. We’re just about completed our underground parking garage, and our site team will begin work on our above grade structure this month. Sales have continued to be very strong through the pandemic, and we have only a few great suites left in Phase 1.

How did the company pivot to deal with COVID-19 restrictions, and how are consumers responding?

From a sales perspective, we increased focus on electronic instead of in-person transactions, which helped us maintain momentum. Whenever necessary, we took a “by appointment only” approach with our sales office and, of course, with strict implementation of all COVID protocols.

Our valued customers’ response has been very positive, as we endeavoured to make their experience as user friendly as possible. They, along with our valued broker partners, adjusted very well, and together we’ve kept the process of buying a new home as seamless as it was prior to COVID.

Last year was quite the surprise, given the strong performance of the industry in spite of the challenges of the pandemic. What do you attribute this to?

Our resilience as an industry. We’ve all been able to adapt quickly and still meet the needs of our customers. The Building Industry and Land Development Association and the Ontario Home Builders’ Association together have kept us galvanized and informed as a group. Our membership has incredibly strong leadership, which has helped us all navigate and move forward well during a very challenging time. We have never lost sight of the fact that Ontario is one of the best places in the world to live, work and play, and have stayed focused on providing housing opportunities and choice to so many who want to build their lives here.

How do you assess the current market? Clearly, COVID is having an impact, but many believe things could boom quickly once the situation is under control…

We at Aoyuan share that sentiment. Over the course of the last nine months, we have continued to see our registrations rise and field inquiries on timing for next sales releases and our second phase, as well. It has given us a sense that there is a lot of capital parked on the sidelines and that people haven’t necessarily cancelled their plans to buy a new home, but rather have put them on a short pause and will jump in as we start to come out of the pandemic. Housing supply is still a challenge that we’re all working through here in Ontario, and low interest rates have continued to stoke buyer confidence, especially in and around the Greater Golden Horseshoe, where their investment in a new home continues to be a sound one.

How does Aoyuan plan to take advantage of the pent-up demand?

We’re busy preparing for the release of our next phase at M2M. Over the last few months, we have continued to connect with our valued customers with updates on what is upcoming, and at the same time have focused on those elements that made our Phase 1 offering successful. Our goal is to build on this in Phase 2.

In our recent Outlook 2021 Special Report, your general manager Fan Yang talked about Aoyuan continuing to develop residential projects that include expansive suites to make condo living more comfortable for multi-generational families and other demographics. How are you doing that?

Phase 2 at M2M will continue to offer a significant percentage of larger suites as we did in Phase 1, with new and very efficient designs that continue to maximize utility and give our customers choice. We’ve placed special focus on maximizing spaces, such as dens and living areas, in our suite designs and our common area amenities such as offices, boardrooms, fitness and children’s activity rooms, as well as outdoor spaces, understanding that multi-generational families want comfort and flexibility. Given we’ve all learned how to be at home more and yet still live our daily routines over the last several months, every bit of space has become more precious.

What have you learned from the beginning of M2M – from planning, approvals and construction – that you can apply later in this project or in future projects?

One important thing is to continue to be realistic with respect to delivery timelines. Construction and development activity in the GTA has been at unprecedented levels, especially over the last decade. Government staff and regulatory agencies at all levels, along with subtrades and consultants, have all managed intense workloads and subsequently, approval timing and construction schedules have seen the impact of this. It has become much more important to manage expectations in this respect.

Large, master-planned communities such as M2M – with different housing types, sizes and price points, plus proximity to amenities and transit… there are others emerging in Mississauga near Square One, along the lake in Port Credit, and elsewhere… How much are these developments becoming the new home destinations of the future?

We believe this trend will continue in and around the GTA, given the continued upward pressure on prices for single-family homes in more suburban areas, which remain in high demand. The trade-off and value proposition of being in a community that readily offers transit choices and a variety of amenities, all within a much smaller and more pedestrian friendly radius, is resonating more with new-home buyers.

What’s next for Aoyuan Canada – in Toronto or elsewhere in the GTA – beyond M2M?

Toronto continues to show its strength, and we feel very fortunate to be active in such a great market. This year will see us continue to focus on the GTA, and we’ll have one or two surprises in store outside of M2M. So stay tuned.

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And on a personal note

How have you coped or managed during the COVID restrictions… taken up any new hobbies or acquired any new skills… perfected your barista skills?

Daily – and early – morning exercise has really helped me get through this period… and yes I have continued to work on those limited barista skills. Still searching for the ultimate espresso bean!

What’s the first thing you’re going to do once things return to “normal”? Vacation? A golf trip…?

A full on, no-holds barred dinner, after 7 pm, with a few friends at one of our favourite holes in the wall… the little things we all have come to appreciate so much more.

What’s on your reading list these days?

A couple of Stephen King oldies that I had been meaning to get to for a very long time!