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Michele McMaster

Michele McMaster

Milestones in a career and life are a wonderful way of inspiring our emerging young leaders. Please share a proud or “magic moment” that shaped your journey?

One of the most wonderful things about working in housing development is that there are so many “magic moments” and milestones! As I look around the city, it is a wonderful feeling to see so many beautiful buildings whose financing I was involved with when I was at CMHC. And it is gratifying to know that families across the country have homes of their own, thanks to the financial and professional expertise of the team I led when I was at Habitat Canada.

Who were your major influencers/mentors (up to 2) and what were the key lessons you gained from them?

Over the past three years, my main mentor has been Tsering Yangki, Executive Vice President, Real Estate Finance & Development at dream. Tsering has generously shared professional expertise and her thoughtful perspective on life, enhancing my capabilities and reinforcing my values

What do you think are the next big challenges we need to tackle as an industry and as a successful city-region? Are there specific things you think we should be doing to meet the challenges?

As a wise policy wonk said to me recently, “we will never solve the housing crisis by hiring underwriters, we need to hire poets.” In other words, we need to critically consider many basic assumptions: is density bonusing really the best way to create more affordable housing? How long can capital be tied up in big sites before IRR is meaningless? Will today’s buildings stand the test of time?

Tell us how you champion others in the industry.

As a manager, I always try to create the conditions where my team can succeed. I provide individual feedback and encourage training opportunities. Privately, there is always at least one person in the industry who I am working with to mentor, generally on situational ethics or soft skills.

What is your secret talent no one knows you have?

I like to paint – with acrylics and a palette knife. There is nothing more exhilarating than smearing colour across canvas!

What is the best word to describe you? And Why?

Passionate. I am high-energy and driven by my deeply held values that this moment – today! – is our chance and our responsibility to leave the world a little bit better for tomorrow, within our sphere of influence.