Toronto Joins the Alfred Network in Canadian Expansion
Alfred is expanding its global footprint of 175,000 multifamily units in 44 US cities to become an international company with Toronto as its newest strategic Market.
The Pulse on Canadian Real Estate
Currently, in the Canadian residential market there are low interest rates and the desire for more living space which has helped bolster the demand for housing. Canada is currently facing a housing affordability problem, where rent is considered unaffordable in many parts of the country, and particularly in major job markets such as Toronto. With the increase in cost, renters expect more from living in their community including a seamless and tech-forward living experience. The Canadian government is responding with investments in affordable housing options while Alfred is positioned to provide residents with a more sustainable and rewarding option for living.
Alfred is already testing its technology and experiences in multifamily properties throughout Ontario. Since the acquisition of HOM in May 2021, we have expanded our tech-enabled community programming with some of the most innovative and forward-thinking property owners in the country including Crown Property Management, Brookfield and Starlight.
The Future of Living
The world is changing at a rapid rate. Alfred’s co-founder, Marcela Sapone, shares that the focus over the next few years in real estate will be on ESG, net zero emissions, climate change relief and infrastructure management, including waste management, sensors and hardware, preventative maintenance and energy usage data. Some of the ways in which Alfred is paving the way for the industry standard is by providing a management model for sustainable real estate in the most efficient tech-first way.
With over 40 government-led initiatives to support innovation and economic development in Canada, the talent pool is large and the opportunity to collaborate with innovative companies and founders is one the most exciting outcomes of this expansion into the Canadian real estate market.
Alfred will be hiring roles across the board, specifically targeting operations, marketing, sales, finance and technology roles. Former WeWork Canada executive Stephen Tapp will lead Alfred’s Canadian expansion.
Read more about the fundraise and Alfred’s expansion into the Canadian market here.
Get in touch with us to learn more about Alfred’s resident experience solutions at partners@helloalfred.com.