“It’s the idea of creating a true “heart” for the community”
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Photography By Ryan Emberley
Completing the trio of visionaries behind Waterworks is Noorez Lalani, President at MOD Developments Inc. Before Noorez began the foray into real estate development, he received a law degree from the University of Windsor and later entered the Ontario bar. In addition to a law degree, Noorez also holds a Masters of Business Administration from the Schulich School of Business where he began his specialization in Real Estate Finance and Development. Prior to joining MOD, Noorez worked as an account manager for the Toronto Dominion Bank Real Estate Group where he was responsible for underwriting and managing various residential construction loans in the home building and condominium sectors. The Tap sat down with Noorez to talk about Waterworks and how it will impact the King West community.
The Tap: What was your first reaction upon seeing the Waterworks space?
Noorez Lalani: I had driven by the site for years and never realized that such a wonderful space existed. It reminded me, in a way, of the first time I went into the old 1905 Bank of Commerce building on the Massey Tower site. Here (at 505 Richmond St W) was an empty building that had been hidden for so many years and that was about to be brought back to life.
The Tap: How do you expect the Waterworks neighbourhood to change over the next five to ten years?
Noorez Lalani: I have a number of friends in the neighbourhood and the area is feeling more and more livable. I think that the area will get even better as it gets further developed.
The Lap: What elements are you most excited about when it comes to Waterworks?
Noorez Lalani: I think it’s the idea of creating a true “heart” for the community with the Food Hall and the YMCA. I’m also thrilled with the architectural design by Diamond & Schmitt and the suite designs by Cecconi Simone. This will be the best building downtown.
The Tap: Why was Woodcliffe the perfect partner for MOD Developments on this project?
Noorez Lalani: We’ve always valued partners with similar values when it comes to quality and customer satisfaction. Woodcliffe’s projects truly exemplify this approach.
The Tap: What interests you about historic buildings?
Noorez Lalani: I think that purchasers are looking for uniqueness when buying a new home. They don’t want to be in another boring glass tower. Historic buildings add that dimension that people are looking for and really helps to create a beautiful city with culture.
The Tap: What’s your favourite neighbourhood haunt in the King West area?
Noorez Lalani: Hmmm, there’s so many great spots in King West but have to say Bar Buca is one of my favourites!
The Tap: What do you find unique about the real estate industry in Toronto?
Noorez Lalani: What’s unique about Toronto is that we are one of the fastest-growing cities in the world, but we haven’t lost that neighbourhood feel that makes the city so appealing.
The Tap: Where do you find inspiration for a new project?
Noorez Lalani: I get my inspiration from the site, my partners and our consultant teams. I feel that it’s important that everyone involved feel engaged and committed to the vision of the project. I think it’s fair to say that our team has done some of their best work I’ve ever seen on the Waterworks project. The public’s reaction to our project to date has been truly gratifying.
Noorez Lalani is the President at MOD Developments Inc. MOD is co-developing the Waterworks building located at 505 Richmond Street West in Toronto.