Sunday, June 8, 2014

How to fail as a property manager while trying way too hard

The "MaRS Discovery District" is one of those bright ideas. You can sense that lots of well-educated and well-meaning folks convened many a meeting to convince themselves that both PowerPoint presentations and careers would be made in abundance by this stroke of genius.

The idea is hardly a new one; create a government-funded idea incubator to nurture start-ups into serious new-economy players.

What could go wrong?

According to this story from the Globe and Mail, employment at MaRS has gone from ten to 97 in less than ten years. 37 employees earn into the six numbers. Boss Ilse Treunicht pulls down over half a million a year.

All of those plump pay packets are essentially for managing one mostly-empty office building.

But not to worry; now that they've signed up an infectious disease lab to take the top four floors, the rest of the building will be spoken for in no time!

Or not!

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