Canadian commercial real estate association REALPAC announced an industry initiative to provide governments and health networks with the free use of vacant commercial space (such as retail space in malls, big box space, conference centres, hotels, industrial units, parking lots and office buildings) for use as vaccination sites.
“We see every day how hospitals are facing increasingly fragile scenarios, with provision of vital services being put on hold to divert resources to the COVID-19 response effort,” says Michael Brooks, CEO, REALPAC. “We also understand from governments that for Canada to successfully vaccinate its population by the intended September 2021 target, a very regimented approach will need to be taken.”
The goal is to provide an easily scalable portfolio of real estate assets that can form part of Canada’s distribution network to support the country’s vaccine mobilization effort.
REALPAC has secured the support of numerous CEOs, CFOs and COOs in its membership to participate in this initiative, it says. Participating members confirmed at this time include:
- Brookfield Properties
- Cadillac Fairview
- CAPREIT
- Colliers International
- Cominar REIT
- Crestpoint
- Fengate Asset Management
- Fiera Real Estate
- First Capital
- Healthcare of Ontario Pension Plan
- Ivanhoé Cambridge
- Kingsett Capital
- Manulife Investment Management
- Morguard
- RioCan REIT
- SmartCentres REIT
- Strathallen
- Triovest
“Activating vacant real estate space as clinics for either vaccination or other medical services could reduce the logistical burden on hospitals and healthcare settings,” says Brooks. “REALPAC members are keen to work with the government to repurpose their unused spaces to function as vaccination sites, or storage spaces for vaccines, essential equipment and medical supplies, which could greatly assist the vaccination rollout effort.”
