Angelo Butera immigrated to Canada from Italy in 1972 and joined the construction industry two years later, first working on infrastructure projects before moving on to high-rise buildings as a contractor.

“I figured that instead of making money for others, I will do it for myself,” Butera explained to RENX about the genesis of Panoramic Properties Inc., which was founded in 1995 when he renovated and then rented two small apartment buildings in Niagara Falls, Ont.

The family-owned-and-run company has grown steadily over the years and Butera said it now owns and manages 11,876 residential units.

He’s set a goal of reaching 20,000 and, with all of the developments Panoramic has planned, it might not take long for the firm to hit that milestone.

Adding value to acquired buildings before moving on to another project was the early strategy, one that accelerated as more capital accumulated and more opportunities opened up.

When finding appropriate acquisitions became more difficult, Panoramic started developing its own properties.

The company’s rental portfolio now encompasses properties in primarily secondary and tertiary markets in Ontario, but also in Mississauga, Ottawa and Halifax.

Former Sudbury hospital redevelopment

Panoramic is already the biggest apartment owner in Sudbury, Ont., and it plans to grow there by tearing down a former hospital at 700 Paris St. and replacing it with a new mixed-use community.

Panoramic purchased the property from the Sisters of St. Joseph in 2010. It originally intended to convert an existing building to residential use and construct another one beside it, but that plan was scuttled in 2017.

The firm is now proposing to build: a 20-storey, 222-unit condominium; a 16-storey, 199-unit rental apartment; and a 12-storey, 109-unit retirement residence. 

Units in the apartment and condo buildings would range from 1,000 to 1,600 square feet and average about 800 square feet in the retirement residence, according to Butera.

A restaurant with a terrace would be included on the top floor of the condo, which would provide panoramic views of Ramsey Lake. A cafe that's accessible from adjacent Bell Park would be included on the ground floor of the retirement residence.

Both businesses would be open to the public.

Other proposed amenities include a swimming pool and a gym. 

The three buildings would be built at the same time and share an underground parking structure. Butera estimates construction would take “a good three years.”

The site is in close proximity to downtown amenities, services and public transit.

While a colourful 80,000-square-foot mural was added to the empty building in 2019, some locals believe the prime location is deserving of human instead of painted vibrancy.

Official plan and zoning amendments must be approved before the project can move forward, but Sudbury Mayor Paul Lefebvre and Coun. Bill Leduc both seemed supportive in a recent CTV News article.

Butera is hopeful everything will be in place to launch within a year.

Butera said Panoramic also has future plans to develop 250- and 190-unit apartment buildings in Sudbury.

Ambitious development plans for Niagara Region

Even more ambitiously, Butera said there are plans to build thousands of purpose-built rental units in Niagara Region over the next 10 years as the local population is expected to grow rapidly.

A 128-unit apartment building in Welland should be completed in a year.

A two-building, 487-unit apartment complex in Niagara Falls is expected to be completed in late 2025 or early 2026.

A 1,750-unit high-rise apartment community in Niagara Falls is expected to begin construction in 2025 and continue beyond 2030. 

An additional three 25-storey apartment buildings with a combined 600 units are also expected to start construction in another Niagara Falls location in 2025. Completion is anticipated around 2030.

There are also plans for 76- and 112-unit apartment buildings in Niagara Falls to launch during that same time frame.

Panoramic recently acquired a 274-acre site in Niagara Region where it plans to build a million square feet of residential space on 27 acres.

The property will also include a vineyard and potentially a spa, according to Butera.

Purpose-built rentals preferred over condos

Butera said Panoramic prefers rental apartments over condos for their steady income stream and the profit that can be made from selling an entire building rather than individual units before or during construction.

Panoramic manages all of the apartment buildings it owns.

“We give our people good service and we charge good money,” Butera said. “We're probably the most expensive, but we are the best.”

While Panoramic may charge premium prices, it also gives back to communities.

It donated $2 million to Niagara Falls Hospital last year, raises funds and contributes to various charities and non-profit organizations, and sponsors local events and sports teams.