WRITER - Vancouver Lifestyles -
Building Vancouver in Style
Instinct. Passion. Humor.
Construction?
Can we say construction in the same breath as these more ephemeral, human qualities? “Si!”
NAT BOSA, Bosa Development Corporation
In 1972, when Dave Barrett’s NDP government was in power, people were moving to Calgary in droves. No jobs, no prospects. Just, get me outta here. An advisor warned Nat Bosa, “Get liquid.”
“If you had ten acres of land where we lived in Treviso under the shadow of Monte Grappa, you might raise a family. If you make shoes and I make pants, maybe we trade and we both have some shoes and pants. Today, one person can work 1000 acres with one machine. I was thirteen and a half when we came here. I never once thought to go back.
When I was 16, my brothers and I started framing houses. We weren’t the best, but I tell you one thing – we were the fastest! Ha! Those were great times. We worked from an attitude. Let’s make sure we got the drive! One guy was working for us 50 years ago; he still works for us. Today, some guys are doing renovations on my house, it’s ten o’clock, they stop for coffee. There’s no drive, because nobody taught these people.”
Now, some clever soul is telling Nat Bosa, “Get liquid.” This is one of those breakthrough moments in life. There are Workers and there are Owners. E
So Nat Bosa says to a real estate friend, “You see that block in North Vancouver? Buy everything for me.”
“How many? Three, four houses, Nat?”
“No. Everything.”
That was the beginning. Today? 22,000 units. Over $3 Billion. Houses, townhomes, condos. Vancouver, Calgary, Aylmer, Quebec, Seattle, Portland, San Diego, Maui, Whistler. When the local market was tanking in 1981, he flew to Ottawa, drove over to the Gatineau and bought 2300 units in a blink. Sold the bunch for a handsome profit in ‘85-’86.
He buys land sites in an instant. He once bought a property with, “I’m on the way to the airport. Can you give me a price before my plane takes off?” In San Diego, they’ve practically declared him mayor. Six towers and two more on the way. He’s completely re-vitalized the waterfront and the downtown core.
“The new buyer is smart. We are changing drastically our approach. The kids are grown up. The house is always needing something. This breaks, that goes. Now, we’re building condos with 3000 square feet, a library, a wine room. We’re raising the bar on finishes. We’re giving the life style. You want to go away? Walk out the door, don’t worry about it.”
And Vancouver?
“Look, people came here for Expo, they took a peek, maybe they came back for a visit, and then to stay. We’ve been blessed with high real estate prices. But remember. So many properties are held by outsiders who have no intention to move their money or their business here. They come because on a beautiful sunny day, there is no place more beautiful. Seattle, San Francisco, San Diego these places are vibrant. People are buying. My father told me years ago, if people are not consuming, there is no economy.
The other thing is we need a bit of a plateau now. We need to slow down and catch our breath. Full employment sounds wonderful, but, in fact, construction costs go through the roof. The workers are good. They know their stuff, union or non-union, it doesn’t matter. But we can’t get enough of them.”
Why all this?
“Some people think I’m a workaholic. Of course, what we’re doing excites me, the malls we own, the projects my kids are building. But, I’ll tell you, since 1983, I never work on Thursdays. I have a buddy, every Thursday, we go skiing, bike riding, play golf.
When it starts being work, I stop.”
He’s 61. Thank goodness, Capilano College has announced a new degree program in mountain biking. Now, Nat Bosa, Italian immigrant, farmer’s son, school dropout, millionaire, builder of communities, can be a graduate.
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