Josh Sherman is a Toronto-based journalist. His work has appeared in the Globe & Mail, VICE, Toronto Life, and many others.
Tridel has been in the game for nearly a century and has built enough homes to house a mid-sized city over that timespan. The pioneering Toronto real estate developer was even among the first in Canada to embrace the then-new condominium model in the mid-20th century.
Attending university in Ottawa, he took a part-time gig with Tridel as a construction clerk. “Let's just put it this way: anything somebody didn't want to do, they gave that job to me,” he says of the job with surprising fondness. “When I was finished with university, I just started working full-time and never left here,” adds Ritchie, who has worn many hats, including in property management and marketing, prior to taking on his current leadership role in July 2022 after a stint as COO.
Angelo, a real estate prodigy who obtained his first building permit when he was still a teenager, oversaw the construction of the company’s first apartment complex, in 1961. Ritchie credits the late entrepreneur and his two brothers, Elvio, and Leo, with forming a foundation for the company to become one of Canada’s largest private residential real estate groups. The brothers didn’t shy away from innovation and scaling up, qualities he admires.
The evolving marketing efforts paid off: by the early-to-mid ‘80s, Tridel had exited the single-family home business altogether, focusing exclusively on condo and rental apartments.With few other examples of condos, there was no playbook for Tridel to turn to early on. Leadership needed to make decisions on the fly. For example, a condo without an in-suite washer and dryer is unthinkable today. More than 50 years ago, though, the precedent hadn’t been set .
The pipeline helps insulate Tridel from the worst effects of the current market downturn, where higher interest rates have hammered new condo sales spurringOf course, Tridel is no stranger to volatile markets, which is one benefit of being around for 90 years. It survived the late-’80s/early-’90s housing crash and the Great Recession. These past experiences, Ritchie suggests, have helped prepare Tridel to weather what comes next.
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