For over 30 years, Boardwalk has been driven by community, forging relationships and creating memories. We believe our communities are more than just a place to live: every Boardwalk building is a place where our resident members feel a sense of family and community, a place they can call home.
Our focus on people, genuine relationships, and shared values have created a truly unique and defining culture that differentiates a Boardwalk community. We put our heart and soul into everything we do, and we take pride in knowing that our communities are a place where residents celebrate life’s precious moments.
Today, we continue to draw inspiration from our early days, taking pride in who we are, what we do, and maintain the same solid values that have helped us successfully navigate through decades of growth and change. From our humble beginnings to expanding across the country, we’ve made some serious headway. Though always looking ahead to the future, we can’t help but remember where we came from.
Where it All Started
Brothers Sam and Van Kolias began their journey in 1984, with a modest 16-unit walk-up project in Calgary, Alberta. Their hard work proved worthwhile as the newly renovated building quickly attracted residents. Within six months, the brothers sold the fully occupied building to fund freshly created jobs and further acquisitions of similar properties
Boardwalk goes public on the Alberta Stock Exchange, giving associates the opportunity to own part of the company for just $0.0675 per share (accounting for two stock splits). During that year, Boardwalk purchased more than 1,000 apartment units in Calgary and Edmonton, Alberta
In 1996, Boardwalk took its next leap and expanded into Saskatchewan. Soon after, we set our sights on Central Canada where our focus on community translated seamlessly in Ontario in 1999, and Quebec in 2002
Transitioning to REIT
With 31,780 suites, Boardwalk converted to a Real Estate Investment Trust (REIT). A REIT is a corporation that is not taxed because it distributes most of its net taxable income to unitholders
Boardwalk commenced its very first development project in 2012 by building on excess land owned by the Trust. Boardwalk received a rent subsidy grant from the Province of Alberta for approximately half the cost of the development project, and, in return, committed to providing 54 of the 109 units as affordable housing at a rate 10% below CMHC market rents for a period of 20 years
Boardwalk Partners with RioCan
Boardwalk partners with RioCan REIT to build Brio, a 162 – unit apartment community in Calgary. The mixed-use building will offer 130,000 square feet of rental housing to be managed by Boardwalk and 10,000 square feet of retail to be managed by RioCan
Recognising the need to meet our resident’s growing needs, Boardwalk introduces its new logo and three new brands: Lifestyle, Communities and Living
With more than 30,000 suites and 55,000 resident members across four provinces in Canada, we’ve grown to become one of the country’s friendliest REITs through our commitment to our resident members.