When Terry Hui walks into a meeting on the 10th floor of Concord Pacific’s Pender Street headquarters, he’s quick to acknowledge the obvious—a large bandage on the left side of his face. The room’s north-facing windows offer sweeping views of Burrard Inlet, the North Shore mountains, and, fittingly, the office of fellow Vancouver tycoon Jimmy Pattison across the street. Hui could wave, but today, he has some explaining to do.
Grinning and talking in his usual rapid-fire style, Terry Hui holds up his phone to show a photo: a helmeted figure sprawled on grey pavement. It’s him. The president and majority owner of “Canada’s Largest Community Builder” took up longboarding over the weekend and paid the price on a hilly road near UBC—after security kicked him out of a parking lot. “Riding’s easy,” he says. “Stopping’s the hard part.”
That’s a fitting metaphor for Concord Pacific. For more than 20 years, the company has thrived on a single, exceptional parcel of land—Concord Pacific Place, the former Expo 86 site along Vancouver’s False Creek. Since 1990, it’s become home to some 20,000 people, with over three dozen towers and countless smaller buildings. But the land is nearly built out. Of the original 83 hectares, only about 10 remain, enough for perhaps a dozen towers, half of which won’t be developed for another decade.
While Concord has other projects in the region and across Canada, none match the success—or location—of its flagship site. Some are even struggling. Hui has diversified into tech, energy, and infrastructure, but none rival his real estate empire in scale.
Meanwhile, developers everywhere face increasing uncertainty. Condo sales may have boomed for two decades, but today’s market feels shaky, especially compared to the U.S. “It’s a dead cat bounce,” says Matt Meehan, Concord’s senior VP of planning. In times like these, it helps to have a leader willing to take risks—even if it means hitting the pavement face-first.
Talk to people who know Terry Hui, and words like “smart,” “creative,” “thoughtful,” and “generous” come up often.
“He pushed everyone, including the city, to be more creative,” says Larry Beasley, Vancouver’s former co-director of planning.
“He’s competent and invaluable,” says David Eisenstadt, CEO of Keg Restaurants Ltd., who has partnered with Hui on the Vancouver Art Gallery’s relocation.
“He’s a unique mix—artistic, technical, and deeply analytical,” adds Paul Lee, former EA exec and longtime friend and investor.
“He inherited his first billion,” laughs real estate consultant Howard Nemtin, “but the second one, he earned.”
Still, for all the admiration, there’s an air of mystery. Ask around and you’ll often hear: “Never met him.” “Don’t know much about him.” “Bit of an enigma.”
