Key takeaways
What property managers can take from Scott’s approach
- Doing the right thing pays. Aspen has never dropped a building after going under contract, and that reputation made it the buyer brokers chose even when it wasn’t the highest bid.
- Respect everyone equally. Scott tells every new hire he is no more important than the receptionist, which keeps the organization flat and communication open.
- Go anti-corporate. After losing a big tenant pitch in 2016, Aspen toured Silicon Valley and redesigned The Edison mid-construction around amenities and play.
- Pay people for their commute. An office has to be better than working from home, which means running it more like a hospitality business.
- Reduce the supply of empty offices. Calgary’s incentive to convert obsolete office towers to residential is helping cut vacancy, and Aspen is converting a building of its own.
About the guest
SH
Scott Hutcheson
Executive Chair, Aspen Properties
Scott co-founded Aspen Properties, a Calgary owner, developer, and manager of commercial real estate, about 25 years ago. He worked at Goldman Sachs, earned a master’s degree in real estate at Columbia University, and skied for Canada’s national ski team for five years. He chairs Invest Alberta and has served on dozens of boards, including QuadReal, Own the Podium, and Arts Commons.
Episode summary
In this episode
Jared Sarbit talks with Scott Hutcheson, executive chair of Aspen Properties. Scott grew up in a family that has worked in land and timber for five generations, spent time at Goldman Sachs in New York, and studied real estate at Columbia before co-founding Aspen about 25 years ago.
Scott shares the values he learned from his father, why integrity has made Aspen more money over time, and how serving on boards like QuadReal and Invest Alberta brings knowledge back to the business. He explains how losing a major tenant pitch led Aspen to rethink office buildings, resulting in The Edison and The Ampersand, and why respect is the company’s first value.
He also covers Alberta’s growth, Calgary’s office vacancy and conversion program, technology and data, sustainability without greenwashing, a café that trains people with disabilities, and his advice for aspiring leaders.
Chapters
- 0:00Episode preview
- 1:20Introducing Scott Hutcheson
- 1:51Five generations in land and timber
- 3:16From Goldman Sachs to real estate
- 6:28Learning values from his father
- 10:45Why doing the right thing pays
- 13:06Serving on boards
- 19:31Respect as the first value
- 22:20Losing a pitch and going anti-corporate
- 28:47Paying people for their commute
- 31:35Alberta’s growth and office demand
- 36:39Calgary’s office vacancy
- 38:47Technology and data
- 42:10Sustainability without greenwashing
- 44:54A café with a purpose
- 47:47Alberta’s energy future
- 51:02Advice for aspiring leaders
- 53:27The property he would want
- 56:19Book recommendations
Jump to a chapter (19)
- 0:00Episode preview
- 1:20Introducing Scott Hutcheson
- 1:51Five generations in land and timber
- 3:16From Goldman Sachs to real estate
- 6:28Learning values from his father
- 10:45Why doing the right thing pays
- 13:06Serving on boards
- 19:31Respect as the first value
- 22:20Losing a pitch and going anti-corporate
- 28:47Paying people for their commute
- 31:35Alberta’s growth and office demand
- 36:39Calgary’s office vacancy
- 38:47Technology and data
- 42:10Sustainability without greenwashing
- 44:54A café with a purpose
- 47:47Alberta’s energy future
- 51:02Advice for aspiring leaders
- 53:27The property he would want
- 56:19Book recommendations
From the conversation
Transcript excerpts
In the end you… always make more money in the long run by doing the right thing.
Scott HutchesonPlay from 0:40
I don’t care whether you’re my age or your age or somebody younger than you, we all want anti-corporate today.
Scott HutchesonPlay from 25:02
We have to pay them for their commute, that’s what we say.
Scott HutchesonPlay from 29:39
Want your office to beat working from home?
We’ll walk your building with you and send a written cleaning scope and price. Free, no obligation.
Read the conversation
Full episode transcript
Show transcript
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FAQ
Questions about this episode
What is Aspen Properties?
Aspen Properties is a Calgary-based owner, developer, and manager of commercial real estate in Calgary and Edmonton, founded about 25 years ago. Its properties include the Calgary Tower, The Edison, and The Ampersand.
How is Calgary reducing downtown office vacancy?
Scott Hutcheson credits a City of Calgary incentive program that encourages owners to convert obsolete office buildings into residential. Taking old offices out of the market lowers vacancy and brings round-the-clock activity downtown, and Aspen is converting one of its own buildings.
How does Aspen Properties approach sustainability?
Aspen uses the GRESB framework and works to improve its score every year. Scott says the first rule is to avoid greenwashing, so the company only adopts policies that genuinely help the environment rather than ones that just look good.
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