2150 Portage Avenue

[bomberjet]

ICF go all the way up on this, if anyone knows? I've seen ICF on some smaller residential infill multi-units type places. They only do the ICF up to the first floor, second floors and up are wood.

[BuildUpWpg]

Just west of Moray on Portage, the old Robin's donuts and the big parking lot beside it is ideal for twin apartment block builds. Sadly the property has sat dormant (with a for lease sign up) for at least 8 years now. Time for the land owner to put it up for sale instead of trying to lease it out.

[CoryB]

Originally Posted by BuildUpWpg

Just west of Moray on Portage, the old Robin's donuts and the big parking lot beside it is ideal for twin apartment block builds. Sadly the property has sat dormant (with a for lease sign up) for at least 8 years now. Time for the land owner to put it up for sale instead of trying to lease it out.

Zoning was approved to change the former Robins on Portage near Moray into a Starbucks around 2019. Obviously the pandemic halted any progress. I have not seen any for lease/sale signs on the property though. Also Winnipeg west of Route 90 and north of the Assinboine has long been identified as a strong possibility for a future Starbucks location as there currently is only two inside Safeway locations in that large area.

[CoryB]

2159 Portage appears to be starting the second floor walls and they seem to be the same style which I think is ICF.

[Authentic_City]

2150 Portage Ave

[morty]

Originally Posted by CoryB

Zoning was approved to change the former Robins on Portage near Moray into a Starbucks around 2019. Obviously the pandemic halted any progress. I have not seen any for lease/sale signs on the property though. Also Winnipeg west of Route 90 and north of the Assinboine has long been identified as a strong possibility for a future Starbucks location as there currently is only two inside Safeway locations in that large area.

Property is owned by Ladco IIRC, they're in no rush to develop the land compared to some other institutional landlords. There was a 2nd pad site development proposed on that site at some point but it seems to have also fallen through. Purely speculation, but I wonder if it would make more sense for them to develop it as multi-family residential instead. New zoning changes will mean they can develop it with no parking minimums.

I wonder if Starbucks is hesitant to do any further development in Winnipeg in the near term after the complete mess that Council put them through with the Jefferson & McPhillips location.

[FactaNV]

Originally Posted by morty

Property is owned by Ladco IIRC, they're in no rush to develop the land compared to some other institutional landlords. There was a 2nd pad site development proposed on that site at some point but it seems to have also fallen through. Purely speculation, but I wonder if it would make more sense for them to develop it as multi-family residential instead. New zoning changes will mean they can develop it with no parking minimums.

I wonder if Starbucks is hesitant to do any further development in Winnipeg in the near term after the complete mess that Council put them through with the Jefferson & McPhillips location.

How can a land lord just sit on a property as well positioned as this one for years and afford it? They're still paying taxes but making no money. I don't understand these people sometimes. Maybe my middle class is showing and I'm too poor to understand the great minds of the landlord.

[Glenn99]

Originally Posted by FactaNV

How can a land lord just sit on a property as well positioned as this one for years and afford it? They're still paying taxes but making no money. I don't understand these people sometimes. Maybe my middle class is showing and I'm too poor to understand the great minds of the landlord.

They own the Ft. Richmond mall. It was mostly empty for years before they finally redeveloped it.

[bomberjet]

Some of/most of these plays aren't necessarily about tenants in CRU's. It's about owning property long term. Having the land developed into a strip mall both pays your costs for that property and ideally brings profit. McDonalds, for example, is basically as property developer that also leases/franchises restaurants.

[OTA in Winnipeg]

Originally Posted by Authentic_City

2150 Portage Ave

Looks good. Thanks for the update.