In this episode of Challenger City TO, Iain welcomes Jordan Ostapchuk, a pioneering capital designer, to explore the transformative role of capital design in urban investment. Jordan, who often finds himself as the "token capitalist in a room full of designers" and the "token designer in a room full of capitalists," shares his unique perspective on integrating creative thinking with traditional finance to address the complexities of modern urban challenges.

Key Discussion Points:

• Introduction to Capital Design:
  • Jordan explains the concept of capital design, blending the rigor of investment with the creative logic of design.
  • The importance of framing problems correctly to develop effective solutions.
• Role of Institutional Capital:
  • How institutional capital, encompassing over a hundred trillion dollars globally, influences urban development.
  • The need for design to help risk-averse and conservative investors adapt to new challenges with modern tools.
• Challenges and Innovations:
  • The mismatch between traditional asset classes and the modern world.
  • Jordan's experiences in driving innovation at a major real estate developer in Toronto during the rise of WeWork.
  • The example of APG changing their definition of infrastructure to include equality and quality of life.
• Toronto as a Challenger City:
  • The potential for Toronto to become a Challenger City by articulating clear aspirations and leveraging its strengths.
  • The role of institutional capital in contributing to the city's long-term viability and vibrancy.
  • Jordan's vision of a future where Toronto's decision-making processes are inclusive and future-oriented, with an Office for the Future dedicated to strategic planning.
• Designing Better Decision-Making Systems:
  • The need to improve the consultation process in urban planning.
  • The potential of innovative decision-making processes like quadratic voting.
  • Balancing top-down and bottom-up approaches in urban planning, drawing inspiration from natural systems.
• Toronto's Unique Position:
  • Toronto as a leading hub for pension investors, known for the Maple model.
  • The opportunity for Toronto to leverage its strengths and innovate, despite a tendency towards complacency.
• Future Outlook:
  • Jordan's speculation on where we might be in 10 years, potentially discussing urban investment in the headquarters of the Toronto Civic Strategic Sensing Centre.
  • His hope for a city that looks more like a thriving forest than a rigid Lego set.

Quotes:

• "If we can frame the problem correctly, I think we're 80% of the way there to solving it."
• "Institutional capital will be the most transformative force of the 21st century."
• "A Challenger City has a distinct aspiration for what it wants to be and a strategy to achieve it."
• "We're sitting in the headquarters of the Toronto Civic Strategic Sensing Centre, where we have a robust process for thinking about the future and incorporating multiple voices and perspectives and constantly adapting."
• "I hope that we can say the city looks a lot more like a forest than it does a Lego."