Winnipeg | ZÜ | 160 Osborne St & 424-425 Wardlaw Ave. | Completed - Page 7

WinCitySparky · #**121** Posted **Oct 17, 2023, 3:21 PM**

Brick is going up quickly on the west facing side, looks great. Brick’s comin back!!

optimusREIM · #**122** Posted **Oct 17, 2023, 4:21 PM**

Quote:

Originally Posted by WinCitySparky

Brick is going up quickly on the west facing side, looks great. Brick’s comin back!!

How's the progress on the building across Wardlaw? Last I saw it was a hole in the ground.

ColdRain&Snow · #**123** Posted **Oct 17, 2023, 4:46 PM**

Quote:

Originally Posted by optimusREIM

How's the progress on the building across Wardlaw? Last I saw it was a hole in the ground.

It's still a hole. I'll walk by and take some pictures tonight.

Justanothermember · #**124** Posted **Apr 10, 2024, 4:01 PM**

Bumping this thread considering all the talk of unit pricing.

Looking at the website, it seems to appear as though the units are filling up, and there is only one unit available at that $3k/month people are mentioning, so it just might be that people are willing to pay a premium for luxury living in the city. Although in saying that, most of the units listed appear to be reasonably priced for this kind of newer development in OV (under $2k/month).

ColdRain&Snow · #**125** Posted **Apr 10, 2024, 4:04 PM**

The two bedroom apartments range between $1695 - $1840. The $3000 unit (there is only one in the whole building as far as I can tell) is a live/work unit, meaning there is a large office space attached to the unit.

The average currently-listed 2-bedroom in Winnipeg on Rentals.ca is $1760/month. In this building, you can get a brand new 2-bedroom for less then that. For 1-bedrooms, the average price is $1360/month. In this building, you can get a brand new 1-bedroom for $1100/month. The prices in this building are pretty reasonable all things considered. There are for sure competitive with other new buildings.

https://www.thezu.ca/floorplans

https://rentals.ca/national-rent-report

FactaNV · #**126** Posted **Apr 10, 2024, 5:05 PM**

Quote:

Originally Posted by ColdRain&Snow

The two bedroom apartments range between $1695 - $1840. The $3000 unit (there is only one in the whole building as far as I can tell) is a live/work unit, meaning there is a large office space attached to the unit.

The average currently-listed 2-bedroom in Winnipeg on Rentals.ca is $1760/month. In this building, you can get a brand new 2-bedroom for less then that. For 1-bedrooms, the average price is $1360/month. In this building, you can get a brand new 1-bedroom for $1100/month. The prices in this building are pretty reasonable all things considered. There are for sure competitive with other new buildings.

https://www.thezu.ca/floorplans

https://rentals.ca/national-rent-report

Fair enough! I didn't realize that the 3Gs included an office, I should have checked the site. Thanks for the info guys.

Atrial78 · #**127** Posted **Apr 10, 2024, 5:37 PM**

None of these builds should be this expensive. Rent is being driven sky high by low vacancy caused by immense population growth.

lbnevs · #**128** Posted **Apr 10, 2024, 5:55 PM**

Quote:

Originally Posted by FactaNV

Fair enough! I didn't realize that the 3Gs included an office, I should have checked the site. Thanks for the info guys.

I'm confused about the huge extra cost for an office. Are these units billed as live work zoned that you can run a commercial business out of them? Or is this just another way of saying two bedroom plus den?

ColdRain&Snow · #**129** Posted **Apr 10, 2024, 6:32 PM**

Quote:

Originally Posted by lbnevs

I'm confused about the huge extra cost for an office. Are these units billed as live work zoned that you can run a commercial business out of them? Or is this just another way of saying two bedroom plus den?

The floor plan renderings show 4 computers per suite plus a few other tables. It looks like you're supposed to run a small office-based business out of them (such as a tech start up or consulting business). I doubt you run a retail business out of them.

EdwardTH · #**130** Posted **Apr 10, 2024, 8:17 PM**

Quote:

Originally Posted by Atrial78

None of these builds should be this expensive. Rent is being driven sky high by low vacancy caused by immense population growth.

Not really, being driven by construction costs more than anything. If they were cheaper it wouldn't be viable to build most of these projects in the first place. I mean I do agree that it's become wildly unaffordable.

Atrial78 · #**131** Posted **Apr 10, 2024, 11:58 PM**

Quote:

Originally Posted by EdwardTH

Not really, being driven by construction costs more than anything. If they were cheaper it wouldn't be viable to build most of these projects in the first place. I mean I do agree that it's become wildly unaffordable.

Significant population growth is absolutely increasing demand for housing. Our supply of raw materials and skilled trades workers is not keeping up with that demand and therefore prices are rising, leading to higher construction costs. Its simple supply and demand.

WinCitySparky · #**132** Posted **Apr 11, 2024, 12:21 AM**

Edit: Oops got sucked into politics chatter

michelleb · #**133** Posted **Apr 12, 2024, 12:14 AM**

Private Pension Partners' new builds are consistently on the high end of local market rents compared to other builders. It's in the name: these are investment properties intended to generate high returns for their shareholders. They're not the type of builder to apply for CMHC affordable unit subsidies or a parking reduction variance to reduce building costs.

They're not so much real estate developers as a bunch of accountants: https://privatepensionpartners.com/about/team/

FactaNV · #**134** Posted **Jun 27, 2024, 5:22 PM**

https://imgur.com/a/lALEvmH

Mural painting is underway at the Zu

Biff · #**135** Posted **Jun 27, 2024, 5:47 PM**

That is awesome.

Creativity and art are usually the first things to go if any kind of Value Engineering is involved.

FactaNV · #**136** Posted **Jun 27, 2024, 5:50 PM**

Quote:

Originally Posted by Biff

That is awesome.

Creativity and art are usually the first things to go if any kind of Value Engineering is involved.

It's nice to see. P3 does seem to do a nice job though. Makes sense if they're trying to catch more lucrative markets for their pension funds.

trueviking · #**137** Posted **Jun 28, 2024, 2:18 AM**

Counterpoint to art being cut during value engineering. It’s sometimes popular because it’s cheaper than a nice cladding. Ha ha.

I wonder how much parking is included in this project. It seems like a ton. I didn’t realize how much at grade parking there is as well as full under ground.

ColdRain&Snow · #**138** Posted **Jun 28, 2024, 2:48 AM**

Quote:

Originally Posted by trueviking

Counterpoint to art being cut during value engineering. It’s sometimes popular because it’s cheaper than a nice cladding. Ha ha.

I wonder how much parking is included in this project. It seems like a ton. I didn’t realize how much at grade parking there is as well as full under ground.

Yeah there's way too much at-grade parking in the 6-story building. The whole main floor is one commercial space + a bunch of parking. Pretty disappointing honestly. They should have done it like your building where there's a bunch of long and skinny commercial spaces.

https://www.commercialsearch.com/commercial-property/ca/mb/winnipeg/the-zu/

ColdRain&Snow · #**139** Posted **Jun 28, 2024, 2:51 AM**

^That being said, they have now posted some drawings showing different demising options. So maybe there would be up to 3 smaller commercial spaces, that would be much better for the streetscape.

https://www.commercialsearch.com/pdfs/Demising%20Options/921/2502106

trueviking · #**140** Posted **Jun 28, 2024, 4:38 PM**

i didn't realize there was only 4500 sf of commercial space. The ceilings are so high, I assumed it was a huge space. At least two CRU's would be good. Maybe the grocery next door will move in. I've heard they want to expand.

The parking ratio must be close to 1 to 1. They are going to have a lot of un-sold empty spaces. They will learn not to overbuild parking the hard way.