Matthew McClenaghan takes on presidency at EDGAR Development, alongside his partner and friend, CEO Peter Edgar
After 25 years in the real estate industry and five years at EDGAR Development, Matthew McClenaghan is taking on a new role as President at EDGAR, alongside his partner and friend, CEO Peter Edgar. McClenaghan’s appointment comes as the company sees record growth, with more than 5 million square feet of residential in the pipeline. The company’s focus has been on building two large, complex, comprehensive communities in New Westminster and Port Moody, with more to come.
McClenaghan grew up in the Lower Mainland’s real estate industry, working in every aspect of the business from sales and marketing to development and construction. He is looking forward to leading and growing the team at EDGAR and to ushering in a new era of growth for the company.
How is today’s real estate market different than it was when you were getting started?
The cost of development was much lower. Approvals took less time. New home sales and high energy presale environments were in their infancy. I started in the industry at a time when there was real innovation into the way new communities were being designed and sold. Thoughtful layouts and amenity rich buildings were something new.
How did you get into real estate?
My brother was studying medicine, and I was considering doing the same. However, I had received my real estate license and was interested in where that could take me. My mom was a real estate agent and my parents had built a few homes over the years, too. So, I was familiar with the industry.
If you asked your 18-year-old self where you would be today, what would he say?
Probably right where I am today, although on a more ambitious timeline. However, I wouldn’t want to change my prior experiences. The success and, most importantly, the challenges and hard lessons shaped me into what I am today.
What’s been the biggest success for you so far at EDGAR?
Being able to successfully work with a best friend. Peter and I are a great team, and our respective strengths are complementary. Also, acquiring and shaping our Portwood community. We are proud of Portwood as it brings so much in the way of all forms of housing and amazing amenities.
What do you see ahead for EDGAR and for the Vancouver real estate market in general?
For Vancouver, I see the residential market remaining strong. All types of housing are badly needed and there is a big hole to fill. EDGAR is excited to be a part of that solution. We live in an amazing place and are proud to be an innovative company focused on building well-designed homes for all the people who share our love for this region. We want to design and build communities where people can thrive.
For more information about EDGAR Development, visit edgardevelopment.com.