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News Release from Alterra, published June 12th, see transcript below:

ALTERRA AND ROBERT COOPER, CEO, APPOINT STUART WILSON AS NEW COMPANY PRESIDENT
Developer makes strategic move for company’s long-term succession strategy

[TORONTO, June 12, 2023] – Alterra Group of Companies, a leading integrated developer and builder in Toronto and throughout Ontario, is pleased to announce the appointment of Stuart Wilson as the company's new President. This strategic move is part of Alterra's ongoing commitment to strengthening its leadership team and building on its legacy of integrity, quality and design excellence of its communities. Wilson brings a wealth of expertise to his new role, most recently as Alterra’s Chief Operating Officer, where he has consistently demonstrated exceptional financial acumen and played a pivotal role in the company's growth and success. Prior to joining Alterra, Wilson and Robert Cooper, Alterra's CEO, worked together for many years, further solidifying their professional partnership.

"I am honored to assume the role of President at Alterra," said Wilson. "I look forward to building upon the solid foundation laid by Robert Cooper and working closely with our talented team. Together, we will continue to focus on delivering well-designed and integrity-driven multi-residential projects that contribute positively to the communities we serve."

Expressing his enthusiasm for the new appointment, Cooper, the company’s ongoing CEO, stated, "I am delighted to welcome Stuart Wilson as Alterra's new President. His proven leadership skills, extensive development knowledge and fresh perspective will be instrumental in driving Alterra's continued growth and success."

With a major focus on Alterra’s future, Wilson’s appointment and succession is a strategic move with a long-term transition. Cooper remains deeply entrenched in the progression of Alterra, supporting Wilson in his role and the property acquisition team of which Cooper is very involved. Cooper is set to remain CEO of Alterra for the foreseeable future.

Alterra has a rich history in the development industry:

● Under Cooper's leadership, along with company founder Richard Cooper, Alterra established a strong reputation in the Hamilton and Burlington areas during its initial years. Notably, Alterra became the largest single-family home builder at the time in the region and spearheaded the development of the acclaimed Meadowlands of Ancaster, a 1000-acre master-planned community.

● Additionally, Alterra successfully navigated its product line into the multi-residential development industry with the addition of high-rise condominiums to its portfolio.

● Alterra's notable milestones include the conversion of office buildings into residential units, such as the Network Lofts project, which exemplified the company's dedication to enhancing its construction expertise.

● Furthermore, Alterra made significant strides in downtown Toronto with their first George Street development, Post House Condominiums, and the prestigious 36 Hazelton luxury condo project.

● In 2022 Alterra built the Ace Hotel Toronto, a property they co-own, marking their first foray into hospitality and bringing a major hotel brand to the city of Toronto.

● Recent mixed-use condominiums projects helping to shape Toronto include 159SW, RUSH Condos, Wonder Condos, 28 Eastern, 321 Davenport and Celeste. These projects not only showcase Alterra's ability to deliver complex and high-end developments, but also established the brand as a leader in the industry.

Reflecting on Alterra's achievements, Wilson added, "Our portfolio is now robust enough to highlight our legacy and showcase how we are positively transforming the City of Toronto. As we are officially in our 50th year, we are well positioned to be an integral part of the city's development and community fabric for the next 50 years."

Alterra remains committed to its core values of integrity, quality and community development. The company takes pride in producing homes that are thoughtfully designed, responsibly marketed and built with the utmost care. With a dedicated team of loyal employees and a focus on maintaining strong relationships with existing partners while pursuing new opportunities, Alterra is poised for further success in the ever-evolving real estate market including larger projects, master planned sustainable communities and a deeper commitment to design and end user satisfaction.
 
Plenty of folks dislike the staggered setback that’s now ubiquitous - but I don’t think I’ve heard from anyone who lives in one of them. Anyone have any experience with them? Always wonder about whether it feels like your neighbour is breathing down your neck.
 
I think that rather than feeling neighbours above staring at you you would get more air and way more light rather than being stacked on top of each other. This is the point of the stepped being is it not? I think it is way more interesting and better for living. No different than having neighbouring houses.really.
 
Plenty of folks dislike the staggered setback that’s now ubiquitous - but I don’t think I’ve heard from anyone who lives in one of them. Anyone have any experience with them? Always wonder about whether it feels like your neighbour is breathing down your neck.
I think the issue many have with the staggered setback is more around that we are in a massive housing crisis, and the setbacks reduce the number of units available in the few places density has been allowed.

Of course no one living there objects, they were able to buy a home, unlike many others. It's great for them, less for society in general.
 
I think the issue many have with the staggered setback is more around that we are in a massive housing crisis, and the setbacks reduce the number of units available in the few places density has been allowed.

Of course no one living there objects, they were able to buy a home, unlike many others. It's great for them, less for society in general.
The point of setbacks is to preserve the usability of public parks. Disagree that they're bad for society
 

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