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CAN'T FIND SOMETHING? |
Business in Vancouver December 30, 2008-January 5, 2009; issue 1001 Renée Wasylyk CEO, Troika Developments Inc., Age: 33 Turning challenges and changes in the real estate market into opportunities is what drives Renée Wasylyk. Wasylyk found her calling after winning a leadership scholarship coming out of high school in southern California, where she was raised. As part of the scholarship from real estate developer the Irvine Company, she got to shadow one of its project managers and was blown over by the workings of a large organization. “It definitely put a development bug in me,” she said. After finishing a bachelor’s degree in religious studies and a master of theology at Taylor University College and Seminary, Wasylyk felt she could carve out a niche for herself in Kelowna, initially as a consultant taking clients through the rezoning application and development permitting processes. When the city began handing out her business cards, she sought out bigger opportunities, finding one as a “developer for hire” for investment groups, which led her to start her own development business – Troika Developments Inc. – with backing from investors and joint venture partners. In establishing her business plan, Wasylyk interviewed numerous developers and came to the conclusion that three things were necessary. First, she had to have her own construction company as well as a development company, because in downturn markets, construction margins can sometimes be the only margin you’re left with; second, the need for residual income, so Wasylyk built 175 rental units; and third was to make sure she got into business with other people. Her success with all three has meant the young businesswoman has profited in good times and bad. A mixed-use two-storey commercial-residential building was Wasylyk’s first development, followed by several other multi-family projects including Yaletown, a 122-unit condominium development. Troika, which employs a total of 160 people, has also added a manufacturing division – Rise & Run Manufacturing Inc. – making wood products ranging from mouldings and railings to doors and staircases. “We build whatever the needs of the market are,” said the mother of three, who has grown revenue from $35,000 a decade ago to $35 million. “And that kind of makes us unique.” • Birthplace: Drumheller Where do you live now: Kelowna Highest level of education: Master’s degree Car or chosen mode of transport: Infinity FX35 Currently reading: If Aristotle Ran General Motors by Tom Morris Last CD bought or music downloaded: Dreaming Out Loud by One Republic Favourite movie: Good Will Hunting Favourite local restaurant: La Bussola Profession you would most like to try: Physician Mentor: Bruce Merrifield Toughest business or professional decision: To stay idealistic and not allow the negativity in life to rob me of the passion for a better world, and for my role in that What’s left to do: To continue to learn, grow, change and impact the world is always a great goal |
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