Question: Brookfield is a major Calgary-based residential property developer, with North American holdings. In the summer of 2012, the firm was exploring the redevelopment of an
Brookfield is a major Calgary-based residential property developer, with North American holdings. In the summer of 2012, the firm was exploring the redevelopment of an established neighbourhood. There was ongoing general revitalization across the city. Brookfield was considering a unique inner-city opportunity. It had recently completed another successful inner-city residential development. The company was concerned about a lengthy approval process. Longer approvals translate to higher cost and lower profits, so the company wanted the project to start very soon to maximize shareholder return. However, the original development zoning carried very specific caveats about maintaining 1990s principles of the Garden City movement. That style emphasized wide, cur
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