Quote:
Originally Posted by BuildUpWpg
I've mentioned it before...redevelopmemt of the downtown Bay and parkade in Victoria. Notice in the master plan diagram the Bay is hollowed out in the middle for residential. and the old parkade is replaced with a tower. Why couldn't this all work in Winnipeg? Oh right, no one here with deep pockets, and our downtown isn't attractive enough.
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1. The Winnipeg Bay parkade is a separate title/owner so its not included.
2. Heard the atrium model + renovations comes in close to double the cost per sq ft of space on completion as just about any other project locally.
So on a high level you can do a top to bottom reno of Medical Arts into apartments or you can do that same with the Bay building. End of the day the units will rent for/sell for basically the same dollar per sq ft. If you are an investor where do you put your money?
Unless the Government is putting grant money on the table for the Bay project or someone wants a space that large and can't easily secure it elsewhere downtown nothing is going to happen.