PROJECT CONSOL AVE

FULL CASE STUDY

INTRODUCTION

Project Consol Avenue was brought to us by an owner who had reached a breaking point. He had been losing money monthly for nearly two years and had no clear path forward. He reached out to Arete with a simple request:

“Can you walk through the building and tell me what to do?”

Within 24 hours of our walkthrough, Arete delivered a full proposal, a repositioning strategy, a redevelopment avenue, and a detailed execution plan that would stop the losses, transform the building, and set the owner up for long-term success.

PROBLEM

The building’s income structure did not justify its carrying costs. Rents were low, tenants were long-term and paying well below market, mechanical systems were old, and the basement and lot were underutilized. Cash flow was negative, frustration was high, and the mortgage term was approaching. The owner needed clarity, direction, and a complete reset.

DISCOVERY

On our initial walkthrough, the opportunity became obvious based on our creative outlook and abilities.

  • The building could be rezoned to RMFM.

  • The basement could be converted into new units.

  • Strategic renovations could dramatically increase rents.

  • Efficiency upgrades were eligible for grants and rebates.

  • A refinance under CMHC could recover all losses and capital.

  • A full repositioning could 2.5× the building’s value.

Strategy

Within 24 hours, Arete produced:

  • A complete repositioning plan.

  • A rent-control correction strategy.

  • An eviction plan for tenant turnover.

  • A design and construction scope.

  • Full financial modeling.

  • A CMHC refinance path.

  • A Phase 2 redevelopment plan under RMFM.

EXECUTION

1. Evictions & Vacant Possession 

We lawfully removed long-term tenants who had occupied suites for decades.

2. Full Design, Construction & System Upgrades 

Modernization included suites, mechanical systems, electrical, fire protection, and common areas.

3. Efficiency Upgrades & Rebates 

Grants improved building efficiency by approximately 55%.

4. Marketing & Lease-Up 

The building reached 100% occupancy within two weeks of construction finishing.

5. CMHC Refinance 

Before the mortgage term ended, the owner recovered all losses and new capital.

6. Phase 2 – RMFM Redevelopment Path 

A future expansion plan was structured for densification and unit addition.

RESULTS

  • Building value increased 2.5×. 

  • Owner recovered all losses and all new expenses. 

  • Building became cash-flow positive. 

  • Full lease-up achieved in 2 weeks. 

  • Efficiency improved by 55%. 

  • Redevelopment path created for future phases. 

Most importantly, Arete handled the entire scope — from walkthrough, strategy, evictions, construction, grants, leasing, and refinancing.

Project Consol is a clear demonstration of Arete’s speed, clarity, and full-cycle execution. Where owners see chaos, Arete provides a plan within hours. Where assets are failing, Arete restructures them entirely. And where others hesitate, Arete acts — carrying the full project from concept to completion.

CLOSING