I agree that the building itself is not historically or architecturally significant. However, it would be nice if they could save some of the artwork/signs and reuse them on a new building. I think the building will likely be knocked down. Just looked up the property assessment. The building and the parking lot behind it are one big lot. The assessed value is only $896,000 for a 41,983 sq ft lot. That's just under an acre, so pretty big considering how close to downtown it is. I could see a development similar to the new buildings where the Zoo was. Maybe two 4-6 story buildings with a walkway between them above the backlane.
Property assessment is here:
https://assessment.winnipeg.ca/asmtpub/e...2097530600&pgLang=EN&isRealtySearch=true