Jim Neilas is the owner and founder of Neilas Inc., a Toronto-based real estate development company that he created to supplement a gap in the marketplace for small-scale, higher-quality boutique condos. He developed the company with the vision of raising the standard of condominium design executed through the creation of original living spaces and idealistic locations. The company would later go on to rebrand as Storey Living.
Q: What was the first development your company worked on?
JIM NEILAS: The company’s first successful development would be the CUBE Lofts located in the Little Italy Neighbourhood of Toronto. It was a significant success and made some pretty serious headlines in the news and received a lot of public attention for its unique modern design. We were looking to fill in a gap in the market and I feel we accomplished that with the CUBE Lofts.
Q: How do you feel you and your company have impacted the real estate industry?
JIM NEILAS: We’ve always looked to fill gaps in the market and innovate our projects to stand out from the competition. We always have our ears on the ground listening for what consumers want in rental properties and finding ways to further advance those visions into something that the city hasn’t seen before.
Q: What has changed about condominium design within the last 10 years?
JIM NEILAS: That’s a great question. Well, one major trend is the focus on maximizing living space and creating multifunctional areas. Open-concept floor plans have become a lot more popular because they create a sense of spaciousness and allow for more natural light. There’s also been a shift towards more sustainable and eco-friendly features, such as more efficient appliances. Also, I’d say the incorporation of smart technology will continue to gain momentum. That’s like smart thermostats and lighting systems. Finally, I’d say we’ll see a greater emphasis on creating community spaces, such as rooftop gardens and shared workspaces.
Q: Where do you see condo design going in the near future?
JIM NEILAS: At the risk of repeating myself, I think we can expect to see even more emphasis on sustainability. There’s a growing demand for buildings that not only look great but have a minimal impact on the environment. With urbanization and population growth, developers will need to think creatively about how to make the most of limited space while still meeting the needs of residents.
Q: Any advice for young people looking to start their own business?
JIM NEILAS: There’s no silver bullet, especially in today’s world. Follow your own path and make space for your own ideas. Do that, and the world will make space for you, too.
