Purpose-Built Rentals; Opportunities & Challenges - Brendan Whitsitt (#30)
Brendan is the founder of Imprint Development, a Toronto-based housing company focused on Purpose-Built Rental development. Before launching Imprint, Brendan was SVP of Development at Tricon Residential, where he led some of Canada’s most ambitious rental housing projects.
He works at the intersection of development, distressed real estate, and construction execution—stepping in where others can’t or won’t. His latest venture, Recovery Capital, helps lenders and stakeholders reposition stalled projects through a mix of rescue capital, development strategy, and boots-on-the-ground project oversight
In this episode of the Real Estate Development Insights podcast, we sit down with Brendan Whitsitt to explore the evolving landscape of purpose-built rental housing (PBR). With a career that spans architecture, private development, and large institutional platforms like Tricon Residential, Brendan brings a nuanced perspective on what it takes to make rental projects work in today’s environment.
We dive into the differences between condo and rental development models, the critical importance of systems and incentives, and why execution—rather than entitlement—has become the main driver of value. Brendan also shares insights into building better rental buildings, from thoughtful amenity selection to optimizing the resident move-in experience.
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He unpacks the current market reality: stalled condo projects, financing challenges, and what his new venture, Recovery Capital, is doing to reposition struggling developments as viable rental opportunities.
Here are some of the topics we cover in this episode:
– The evolution of purpose-built rental development in Toronto
– Key differences between condo vs. rental execution models
– Why horizontal project management outperforms vertical handoffs in rentals?
– Critical systems and incentives every rental project needs
– How to design rental buildings with resident experience and retention in mind?
– Challenges in leasing, amenities, and operational strategy
– The role of institutional investors in the Canadian PBR market
– A closer look at Recovery Capital’s model for saving stalled developments
– Forecasting the next 3–5 years of housing supply, immigration, and affordability
Imprint Development is a real estate company focused on delivering rental and mixed-use projects that last—physically, financially, and socially. Headquartered in Toronto and informed by experience across North America, we apply a fully integrated model to design, build, and operate high-quality rental housing with discipline and care.For the communities where we work, this means more thoughtful buildings and better long-term outcomes.
For investors and partners, it means alignment. Not just in execution, but in how we think about value creation. Our approach prioritizes cost control, operational strength, and durable returns over optics and short-term wins.
Construction Innovation ChecklistÂ
This document is a supplementary resource to
episode #24 of the Real Estate Development
Insights Podcast in which Payam Noursalehi shares a practical framework for evaluating and selecting the most suitable innovative systems for your next project.Â
