Where Data Meets Development

Where Data Meets Development

At just 27 years old, Emmett Hartfield saw what most developers were missing. Rather than building based on competitors’ practices, he turned to data analytics to help developers design properties with lower risk and a clearer understanding of what residents actually need. In this month’s profile, Hartfield talks about his approach, what the data predicts for the future of housing, and how he balances business and life.

For someone outside the industry, how do you explain what Intelligence House does? 

We’re a fully integrated business model for residential developers. We lead with statistical market analysis — and we do that on a very granular level. We help developers identify what products to bring to market in order to mitigate risk. We also do design work, plus branding and marketing. We’re essentially a one-stop shop for developers; in the past, they would engage multiple consultants to do all that. We started 12 and a half years ago in Edmonton and have expanded across the country [in that time]. 

Our analytics provide algorithms and analyses that guide developers in identifying gaps and opportunities, and also spot where the least risk is to ensure projects are successful. This starts with the type of product to build, but also extends to location, layout, design and amenities. We also help determine what features and finishes may be most desirable based on our data. We offer a fully integrated model from start to finish.  

You started Intelligence House in 2013, when you were just 27. What was the problem that you were seeing in real estate at that time that others were missing? 

In the past, developers would reference what their competitors were doing and take a wild guess as to what to build. Just because the competition is doing something doesn’t mean that’s what the market requires. We also saw a gap where companies would need to hire multiple consultants throughout the longevity of a project — often, this is where things go south. In those projects, there’s often lots of finger-pointing with multiple consultants providing opinions. Developers needed that data and analytics, but they also needed someone to guide them and provide the services. That’s what we do throughout the entire process.

What current housing trend do you think is still being underestimated here in Alberta? 

We could be heading toward an oversupply of apartment rental product, both in Edmonton and Calgary; more so in Calgary. With the introduction of the Canada Mortgage and Housing Corporation (CMHC) Mortgage Loan Insurance (MLI) Select program for developers in recent years, and the mandate for higher density from both municipalities, we have seen a substantial number of rental apartment products being built. Now that interprovincial and international migration has slowed, the rental market has been cooling off. 

I don’t necessarily believe a certain housing trend is being underestimated. However, opportunities seem to exist more in certain submarkets of Edmonton, such as Sherwood Park, St. Albert, and others. These locations have grown substantially in recent years and will most likely continue to do so. 

This mandate for higher density in mature neighbourhoods where multi-unit projects are being built do indeed offer opportunities for individuals to move to these desirable, mature areas; however, allowing this in almost every mature neighbourhood within the city has not been well planned. Particularly when you look at Blatchford, for example, which is now over a decade in the making, the amount of development that has occurred in that location has been extremely limited. I am not sure why the city feels the need to push for higher density in mature neighbourhoods such as Crestwood, Parkview, Wedgewood, Glenora, etc, while Blatchford sits as one big mess. Perhaps the focus should be on completing one infill community at a time, before we focus on changing the overall dynamic of Edmonton’s zoning bylaws. That is also why we are seeing more expensive products planned and built in suburban markets. 

If you could give advice to your 27-year-old self just starting Intelligence House, what would it be?

When you’re at that age, you have a lot of energy, and you have goals that you want to reach. I feel like I went too fast, and I focused way too much on work, which is good when you’re younger, but at the end of the day, that catches up with you. 

There will always be fires that you need to put out, and at the end of the day, work is something that is always going to be there, but it’s not who you are. It’s important to focus more on yourself, your health and your family because if you don’t have that, you don’t have anything, right? I would tell myself not to get so stressed out, not to take things so seriously, and just enjoy the run a little more. 

Thankfully, we have had great growth and a wonderful team that handles key components of our business. It allows me to focus on business development and managing the company but it also helps me spend more time with my family. I’ve learned a ton, and it’s exciting because what I’ve learned in the past, I can now implement moving forward.

How do you define a luxurious life?

For me, a luxurious life is being around the people who love you and who you love, as well. Seeing the world is important. Being focused on mindset, family, and growth gives me the support to pursue my goals. At the end of the day, when you are retired, work’s not going to be there for you. Money’s not going to be there for you. It’s going to help to have it, but your family is the one that’s going to be there for you. For me, that’s what’s most important.