Press Release

Press Release 

Urban Economy Forum 7 (UEF7): Housing Finance at the Heart of Urban Transformation 

October 14–16, 2025 | Richmond Hill, Ontario, Canada 

The 7th Urban Economy Forum (UEF7), held from October 14–16, 2025, at the Richmond Hill Centre for the Performing Arts, convened over 80 global leaders from cities, governments, financial institutions, and academia to advance sustainable housing finance as a cornerstone of inclusive and resilient urban transformation. 

Organized by the Urban Economy Forum (UEF) under the leadership of its Chair and Founder, Mr. Reza Pourvaziry, and powered by World Nexus, the Forum was supported by the Global Smart Network (GSN), the Glocal Platform for Urban Financing (GPUF), and the City of Richmond Hill as co-host. 

UEF7 served as a dynamic platform to bridge urban policy and finance, focusing on practical mechanisms that turn financial innovation into tangible progress for cities worldwide. 

Plenary Speakers 

The Forum’s plenary sessions featured a distinguished group of experts and practitioners, including Ms. Coleen Volk (Canada Mortgage and Housing Corporation), Ms. Jennifer McKelvie (Parliamentary Secretary to the Minister of Housing), Mr. Mitchell Cohen (President and CEO, The Daniels Corporation), Dr. Michael A. Cohen (The New School, New York), Mr. Richard Florida (University of Toronto), Mr. Patrick Tighe (Patrick Tighe Architecture), and Mr. Benjamin Tal (Managing Director and Deputy Chief Economist, CIBC). 

Together, they explored how finance can serve as a powerful vehicle for inclusion, sustainability, and innovation, presenting actionable models that integrate housing finance, investment, and social equity as key drivers of urban transformation. 

Reflecting his holistic vision for city building, Mitchell Cohen shared, : 

“The buildings and communities we build are clay within our hands –to mold and to shape –not just the physical form, but the emotional, spiritual, and communal threads that evolve when social infrastructure is an equal partner to the physical.”  

Keynote Speakers and Opening Ceremony 

The Opening Ceremony featured inspiring remarks from The Right Honorable Mark Carney, Prime Minister of Canada, Ms. Elizabeth Dowdeswell, Mr. Reza Pourvaziry, Mayor David West, and Ms. Daisy Wai, MPP for Richmond Hill. 

In his keynote address, Mr. Reza Pourvaziry, Chair and Founder of the Urban Economy Forum, reaffirmed the Forum enduring mission: 

“From the very beginning, our vision for the Forum has been to ensure that it is not merely theoretical, but rather a practical and creative platform dedicated to promoting and realizing sustainable development through sustainable resources. Each year, the Forum strives to foster a practical conversation on the urban economy, shifting the focus from abstract discussion to unlocking and activating development resources”. 

In essence, the Forum’s main mission is capacity-building and the creation of a dynamic global dialogue around the urban economy. 

This year, the theme of housing takes center stage. Naturally, one of the most critical aspects of this theme is housing finance and investment, which stands as a core pillar of urban transformation. 

The ceremony also marked a milestone with the unveiling of a commemorative plaque recognizing Richmond Hill as Canada’s First Frontrunner City on Urban SDGs, celebrating the city’s leadership in advancing sustainable urban development. 

 Vision and Global Impact 

The Urban Economy Forum has become a global platform connecting urban policy, finance, and sustainability. The Forum’s vision positions the urban economy as the foundation for transformation, linking economic resilience with social inclusion and prosperity. 

Under Mr. Pourvaziry’s leadership, UEF7 highlighted housing finance and investment as central tools of urban transformation, empowering cities to adopt innovative financial mechanisms toward achieving the Urban SDGs. The Forum’s initiative of Frontrunner Cities continues to demonstrate how local governments can translate sustainability into measurable impact through innovation and integrated financing approaches. 

 Shared Commitment for the Future 

Reflecting on the Forum’s collaborative spirit, Mayor David West noted: 

“True change requires the involvement of all levels of society. When cities and towns are engaged and mobilized, the adoption of sustainable development becomes possible. 

UEF7 concluded at the World Urban Pavilion in Toronto, reaffirming a shared global commitment to turning dialogue into action. With the strong partnership of Richmond Hill and other development partners, preparations are now underway for UEF8, continuing the Forum’s mission to build inclusive, resilient, and sustainable cities through the power of the urban economy. 

Frontrunner Cities: Spotlight on the city of Lowell 

The “Frontrunner Cities” session at UEF7 spotlighted Lowell as a model of urban transformation. Moderated by Mayor Daniel Rourke, the discussion featured Mr. Reza Pourvaziry, City Manager Tom Golden, Mr. Corey Robinson, and other senior officials. The panel showcased innovative strategies in sustainability, finance, and urban planning, illustrating how strong leadership and cross-department collaboration can drive real, measurable progress. Lowell’s approach demonstrates the power of integrated policies and financial tools in building resilient, inclusive, and sustainable cities.