Calgary has always had an entrepreneurial spirit, and since the 1930s, four generations of O’Connors have embodied it as they helped build the city. In 1932, John Jeremiah (JJ) O’Connor established Western Securities, a company dealing in land leases between oil companies and land owners, and he and his brothers Henry and Larkin graduated to buying farmland throughout the 1940s and 1950s. JJ bought out his brothers, and his sons John and Julius and daughter Sally carried on the family business at his side; John later bought his siblings out and brought his sons, Rodrick and Pat, into the fold.
“They weren’t in the direct development business. They were involved in developments more as opportunistic investors, buying, selling and investing around Calgary and across the U.S. in a real hodgepodge of businesses. Western Securities was really an investing and holding company from the early 1960s right up until we came out of the Savings and Loan crisis in the early ‘90s, I’d say that is where our story really starts,” says Ryan O’Connor, co-president of Western Securities.
When the U.S. government’s new Resolution Trust Corporation started selling off failed assets including real estate, the O’Connors recognized an incredible opportunity. They gathered their resources and bought land to get a foothold in Texas to complement their holdings in the Calgary market.
At the same time, the fourth O’Connor generation came on board, sharpening the company’s focus on property development to position it as a trusted full-service development and property management firm. Three of Pat’s and Roderick’s children (Ryan, Kelly and Sean) have since stepped into leadership roles and are charged with growing the company while safeguarding its family legacy. After all, family has always been the foundation of the business and nearly 95 years later, that commitment continues to guide its direction. Each generation plays an active role in shaping how the company evolves, and the tight-knit family works together to grow within ever-changing markets.
“We don’t look at it like we have this company. We’re just in charge of managing it until the next generation comes along. We’re just the stewards for this period of time,” says Sean O’Connor, co-president of Western Securities.
The result of this mindset is a culture where titles are secondary, everyone is heard and valued, and long-tenured employees mentor newer hires to help everyone succeed. This collaborative, supportive environment is what attracts young professionals and the positive culture retains them; there are employees celebrating more than 40 years with the company and the family is proud to provide fulfilling careers rather than merely paychecks. Not only their team but also their tenants have become part of the extended O’Connor family; through personalized attention and top-notch service along with mindfully designed spaces with amazing features and amenities, the team ensures tenants feel at home. That accountability, integrity and pride in their work has afforded the company a solid reputation and strong presence in the industry.
The O’Connors have worked hard to earn that reputation. They have become leaders in purchasing, developing and managing multifamily, industrial, hospitality, office and retail real estate on both side of the border, and the lean team of 70 professionals across the organization operates 25 to 30 developed and managed real estate assets.
“What I’m most excited about right now is we have an incredible pipeline to work on that’s going to take 5 to 10 years to develop. For the next 10 years, we’re going to stay focussed on the Calgary and Texas markets. We don’t have much interest in looking for other markets. We have our hands full in those two,” says Ryan.
Their hands certainly are full, both with bold residential developments like The Underwood and Fourth Street Lofts in the coveted Beltline area, and with long-time, community-ingrained assets like Willow Park Shopping Centre and Beddington Towne Centre. Western Securities has played an integral part in Calgary’s development boom over the past several years, both building new and also modernized properties that earlier generations acquired and managed. The Stadium Shopping Centre, renamed UXBorough, has been in the Western Securities portfolio since 1961 and for the past decade, the team has worked closely with the city and surrounding communities to curate their plan to build up their seven-acre site in the area. Their existing office, medical and apartment buildings will be joined by another five-building mixed-use development currently in the pipeline.
No matter the project, Western Securities delivers a quality product that is built to last and that they can be proud of not only upon completion but 10, 20 or 50 years down the road. They pay attention to detail, making efficient use of space while giving tenants something they won’t see elsewhere. Unlike many developers that build and sell, Western Securities builds and manages so their name remains attached after tenants move in. They do their name proud, offering a beautiful, functional space replete with amenities and surrounded by retail and businesses that will have a meaningful, positive impact on their tenants’ lives.
“It’s something that was instilled in us and the company from the beginning. With our apartment buildings, this is somebody’s home, their most sacred space. We ask, ‘how can we make sure they feel that they want to be here and want to stay here?’ It’s done through the initial floor plans and then through our team members who make sure our residents feel like they feel at home,” says Kelly O’Connor, principal at Western Securities.
Inclusivity is another key priority in their developments. Western Securities supports the City’s efforts to expand affordable housing, ensuring its well-designed apartments remain accessible to Calgarians. Through a municipal program last year, Western Securities provided affordable units within Fourth Street Lofts on the City’s behalf, which also allowed them to increase efficiency through a taller building allowance. By leading through action, Western Securities hopes to set the standard that more Calgary developers will follow moving forward. For the company, this community commitment extends beyond any single project. It’s embedded in the company’s culture and operations across markets and grounded in family-based values that inform every decision and interaction.
For almost a century, Western Securities has been driven by the O’Connors’ work ethic and integrity, and each generation is raised to frame business in the context of that family legacy. They all appreciate how special their family connection is and are devoted to protecting it for all the O’Connors who come after them.
“The loyalty and trust are not even a question in our company because it’s ours. It’s our family. I think that’s a unique thing that we’re really proud of,” says Sean, and they all recognize how fortunate they are that the generations are so close. “There’s no angle. Nobody’s out for themselves because I’ve got Ryan’s side of the family to worry about just as much as Ryan has mine and Kelly’s.”
As they take care of each other, they take care of tenants in their properties, all while building developments that stand out and stand the test of time. With four generations of O’Connors behind it and countless more ahead, Western Securities continues to leave a lasting mark on the Texas and Calgary markets. One thing is apparent: the best is yet to come.
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