Grosvenor, a property owner and developer with a 70- year track record in North America, has promoted Marc Josephson to Senior Vice President, Development in Vancouver.
With 16 years of real estate development experience, Josephson currently manages Grosvenor’s $3.26 billion development pipeline in Vancouver and leads a team of Development professionals. Since joining Grosvenor in 2013, under the leadership of Michael Ward, SVP, Development and General Manager who oversees the Vancouver development program, Marc has been instrumental in the development of numerous significant transformative projects representing $716 million in value.
With previous appointments at PCI Group and Townline, Marc specializes in highly complex, large-scale, mixed-use developments. He is currently responsible for overseeing Grosvenor’s largest development project to date in North America, their 7.9-acre, full-block, transit-oriented master plan in Brentwood, Burnaby. His role includes establishing the overall vision, directing design, entitlement, and programming, and leading the development team towards project execution. The development will incorporate The City of Burnaby’s vision to substantially increase the amount of rental and affordable housing options in Burnaby.
Marc is also leading the Grosvenor team, in partnership with Citimark, at a 63,050 square foot site at Oak Street and 37th Avenue in the development of 70 new townhomes.
“Marc’s deep knowledge of real estate development and strategic thinking has been central to our success in recent years in the Vancouver market,” said James Patillo, Chief Development Officer of Grosvenor’s North American property business. “His valuable skill set will be critical in the coming years as our net zero build-to-core residential development program expands in Metro Vancouver.”
Marc’s recent experience with Grosvenor is highlighted by the entitlement, design and development of Grosvenor Ambleside, a mixed-use waterfront development in West Vancouver that established a new benchmark for quality and price in Western Canada and received a 2021 ULI Americas Award for Excellence. He also oversaw the development of The Pacific, a 39-storey residential tower in downtown Vancouver that included the design and construction of the City’s first commercial Passive House building and preservation of one of Vancouver’s oldest heritage homes. Marc recently celebrated the certification alongside Mayor Kennedy Stuart.
Marc is an active member within the Urban Development Institute (UDI), including a past role as Vice-Chair of their U40 Board, as well as the National Association of Industrial and Office Properties (NAIOP) and the Urban Land Institute (ULI). In addition to his various committee roles, Marc has participated in expert panels for both the UDI and ULI.
Grosvenor established its North American real estate development and investment business with the purchase of Annacis Island in 1952. In addition to Grosvenor Ambleside and The Pacific, the firm has delivered some of the city’s most notable residential and mixed-use projects including the Cambie Corridor’s multiple award-winning The RISE development, Connaught and 15 West in North Vancouver and Polaris in Burnaby. Grosvenor’s average relationship is 20 years across nine investment partners in North America. The company has $3.6 billion of assets under management and is executing on a development pipeline that will deliver 4,200 homes in Canada and the US.
Grosvenor has been an active owner and developer in the US and Canada for over 70 years. We focus on vibrant urban locations, making positive contributions to neighbourhoods and communities. In 2019, we were one of the first North American signatories to the World Green Building Council’s Net Zero Carbon Buildings Commitment and have been publicly reporting our annual consumption and reduction values for over 10 years. We are guided by industry leading ESG business principles and we report to the Global Real Estate Sustainability Benchmark (GRESB).
– Our US$2.7bn development pipeline focuses on projects in urban, transit-oriented and/or amenity-rich neighbourhoods and includes urban mixed-use residential projects in Washington, D.C., San Francisco, Silicon Valley and Metro Vancouver, Canada.
– Our Investment Programme acquires value-add residential and commercial properties while actively managing and improving a US$4.8bn portfolio of 59 high-quality properties in the US and Canada.
– Our Structured Development Finance business provides funds for much-needed residential development projects in growth markets across North America.
We are part of an international property company with a track record of over 340 years developing, managing and investing to improve property and places across many of the world’s leading cities, promoting sustainability within the built environment and enhancing the well-being of our customers and communities.
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