[drew]

I think for a highrise building, the geology here in Winnipeg isn't that bad comparative to other locations. They will be founded on the bedrock no matter what.

(Bedrock is about 40 to 50 feet below grade).

For a small to midrise building, this may be where the numbers can get a bit skewed out of our favour as regardless of the height of the building, you will need a deep foundation.

I don't know where 185 Smith would fit in, but I suspect it has foundation supported directly on the bedrock.

Isn't the low land value in Winnipeg more of the deterrent to $$ developments? I.e. you can't charge high enough rent to justify a very high cost per square foot development..?