Terra Asset Management was formed by staff members of one of Canada's most experienced development management firms, Terra Housing.  TAM's mission is to help create a financially sustainable housing sector by providing excellent asset management planning and project management services.  Visit the TAM website.

TAM is currently working with several housing co-operatives, housing groups and stratas to plan and manage the renovation and repair of their housing assets.  Housing co-operatives across Canada are facing a range of challenges as their buildings age.  These challenges include the need for infrastructure repair and replacement, demographic changes and resulting inappropriateness of their current housing mix, as well as the expiry of operating agreements and the subsidy associated with those agreements.  With these changes comes the need for proactive asset management planning complete with a schedule of future capital repairs and financial planning to ensure that there are sufficient funds to undertake planned repairs.

What is Asset Management?

  • a program of activities
  • designed to manage capital assets
  • to deliver a desired service level
  • at the lowest life cycle cost.

Asset management is a form of long-term planning used by organizations around the world, for both large infrastructure projects (like highway and municipal water treatment systems) and smaller-scale facilities (like hospitals, or non-profit housing operations). An asset management program is based on a written asset management plan (AMP) which is a foundation management tool.  An AMP explicitly links a financial plan, the status of a housing society's physical assets and on-going operations and maintenance practices.  It also permits a housing society to monitor progress with comprehensive financial projections and performance benchmarks.

TAM's Role

TAM's role is to work closely with the housing groups to develop comprehensive asset management plans as strategic tools to assist the groups to make informed decisions in the proactive management of their assets.  TAM has contracted with several housing groups to produce a loan application once the AMP and the Borrowing Resolution have been approved and to offer comprehensive project management services to address issues arising from the AMP.