Winnipeg | Downtown | 308 Colony St | Solara Flats | 22F | Completed

[borkborkbork]

Originally Posted by FactaNV

If we can crank out 4 or 5 more of these downtown just as quick, we're cooking with gas.

Is UWCRC affected by UW's budget problems?

[bomberjet]

I enjoyed watching this go one go up. It gave me heavy Sim City urban vibes for some reason.

[FactaNV]

Originally Posted by borkborkbork

Is UWCRC affected by UW's budget problems?

I have no clue haha. Isn't their whole mandate to basically address that budget issue by having an income stream?

[Authentic_City]

Originally Posted by FactaNV

I have no clue haha. Isn't their whole mandate to basically address that budget issue by having an income stream?

Yeah, theoretically that was the idea, in part at least. UWCRC is a "special purpose entity" with a rather opaque relationship to the University proper. I'm not sure how much revenue, if any, it generates for the UW. From the limited available information, it looks like there is very little revenue from ancillary business units (assume this includes UWCRC?), and overall, a net loss after expenses.

I expect UWCRC won't be affected by the budget woes at UW, and they will continue to do their own thing at arms length from the university.

[FactaNV]

Originally Posted by Authentic_City

Yeah, theoretically that was the idea, in part at least. UWCRC is a "special purpose entity" with a rather opaque relationship to the University proper. I'm not sure how much revenue, if any, it generates for the UW. From the limited available information, it looks like there is very little revenue from ancillary business units (assume this includes UWCRC?), and overall, a net loss after expenses.

I expect UWCRC won't be affected by the budget woes at UW, and they will continue to do their own thing at arms length from the university.

Honestly it's probably time for a U California system in MB. University of Manitoba - Winnipeg, University of Manitoba - Pembina (main campus) and like a University of Manitoba - Brandon. USB is basically the French branch of the U of M so theres precedent. There is so much duplication of bureaucracy that doesn't really need to happen and this will only be compounded as international student numbers decline.

[ColdRain&Snow]

There are two separate entities when talking about UWCRC.

"The University of Winnipeg Community Renewal Corporation" is an entity of the University of Winnipeg, therefore its finances are tied to the university. The University of Winnipeg Community Renewal Corporation does on-campus projects.

All of the housing developments we talk about on this forum are developed by "UWCRC 2.0 Inc." UWCRC 2.0 is a non-profit organization that is separate from the university. Their finances are not affected by the U of W's current financial troubles.

So in-short, the housing projects we discuss on this forum (308 Colony, Marketlands, etc.) are not affected by the U of W's current financial troubles.

More Info:
https://uwcrc.ca/uwcrc-2-0-projects-2/uwcrc-2-0
https://uwcrc.ca/projects
https://uwcrc.ca/uwcrc2-0-projects

[borkborkbork]

Originally Posted by ColdRain&Snow

There are two separate entities when talking about UWCRC.

"The University of Winnipeg Community Renewal Corporation" is an entity of the University of Winnipeg, therefore its finances are tied to the university. The University of Winnipeg Community Renewal Corporation does on-campus projects.

All of the housing developments we talk about on this forum are developed by "UWCRC 2.0 Inc." UWCRC 2.0 is a non-profit organization that is separate from the university. Their finances are not affected by the U of W's current financial troubles.

So in-short, the housing projects we discuss on this forum (308 Colony, Marketlands, etc.) are not affected by the U of W's current financial troubles.

More Info:
https://uwcrc.ca/uwcrc-2-0-projects-2/uwcrc-2-0
https://uwcrc.ca/projects
https://uwcrc.ca/uwcrc2-0-projects

Where does their operating funding come from? It looks like they have ~25 staff on payroll. Are they self-sustaining based on rental revenues from their past projects?

[Authentic_City]

^^UWCRC and UWCRC2 are only notionally separate. They have the same staff and the same board of directors. Honestly, they are really just the same entity, but 2.0 focuses more widely beyond the university community. Both are connected to UW as special purpose entities.

https://uwcrc.ca/staff-directory

[FactaNV]

Do they have any other big projects on the way?

[ColdRain&Snow]

Originally Posted by FactaNV

Do they have any other big projects on the way?

Here is an overview of our projects that I can talk about. There's other stuff in planning but it's hard to say what will pan-out and what won't. Also, I can't talk about projects that are in-planning, only projects that have been announced. On some projects we are the owner and on other projects we act as a project management consultant.

As the Owner/Developer:
-308 Colony St (this thread)
-Marketlands South (9-story building under-construction)
-Marketlands North Tower (the Corten-Steel tower)
-Marketlands North Mixed-Use Building (the Barcelona-style courtyard building)
-440 Edmonton St (renovation of an existing building)
-22 Granite Way (on the Granite Curling Club parking lot)
-2 x women's shelters in Winnipeg (can't say the location)

As a Project Management Consultant:
-Rubin Block renovation at 558 Osborne St
-Ka Ni Kanichihk expansion at 455 McDermot Ave
-1 x women's shelter in Winnipeg
-1 x women's shelter in northern Manitoba
-1 x women's shelter in southern Manitoba

Not bad for a non-profit organization. CMHC told us we have the most units under construction of any non-profit in Western Canada.

[borkborkbork]

Originally Posted by Authentic_City

^^UWCRC and UWCRC2 are only notionally separate. They have the same staff and the same board of directors. Honestly, they are really just the same entity, but 2.0 focuses more widely beyond the university community. Both are connected to UW as special purpose entities.

https://uwcrc.ca/staff-directory

Interesting! I looked a bit further and it seems that their payroll is covered by retained revenue from leasing, project management, and consulting, and the university provides space for their offices. This is from 7 years ago so I don't know if it's still accurate:

"The relationship between UWCRC and the University of Winnipeg has been close and very successful. Yet, apart from modest start-up funding, space allocation for UWCRC staff offices, and periodic repayable cash-flow support and corporate guarantees to support borrowing, the Corporation does not receive significant operating funds from the University. Rather, it has had to generate its own revenue primarily through development and project-management fees, rental income, First Nations economic development and business analysis consulting, property management fees and other sources. In the course of its work, the Corporation has delivered a range of benefits to the University, including cost effective, well-designed and sustainable real estate projects; improved, healthy food services on campus; creative partnerships with local non-profits, businesses and Indigenous communities; and a visible role as a provider of affordable housing in the downtown core.

https://ccednet-rcdec.ca/sites/ccednet-r...tainability_sept_27_2018-full-report.pdf

[peg]

Originally Posted by bomberjet

I enjoyed watching this go one go up. It gave me heavy Sim City urban vibes for some reason.

I totally feel the sim city sentiment. its been a nice sight on the graham / coming into downtown.

Its even more sim city if you happen to be listening to jazz.

Big cranes and smooth jazz go well together.

[WinCitySparky]

^this guy SimCitys!

[Kris22]

These corner units are looking like they will have some seriously amazing windows. I thought these were budget student apartments? I hope we get some photos from the inside out when construction wraps.

[zalf]

Tower crane is coming down.

[WinCitySparky]

Wow what a fast erection

[Wpg_Guy]

On Earth Day, take in the view of Canada’s tallest residential Zero Carbon Building! This 21-storey tower (Solara Flats) in downtown Winnipeg, developed by UWCRC2.0 Inc. and Lotus Holdings, features:

🌆Building Integrated Photovoltaic Panels that provide return on investment as a energy generating asset while utilizing daylight and reducing cooling loads.

😎60 Solar-Thermal Rooftop Collectors that support hot water heating demand, backed up with a high- efficient, carbon-free heating system via air-source heat pump systems.

🌡️Increased Envelope Thermal Systems: Increased envelope insulation R-Values and utilization of thermal clips, including cast-in-place thermal breaks at balcony locations.

❄️Central Cold Climate Air Source Heat Pump System draws from several heating sources including recapturing heat
created from the cooling system.

The future of environmentally sustainable housing takes all of us. We're supporting the vision of UWCRC2.0 for a more sustainable housing future through innovative problem solving, effective budget management, and collaboration with design and trade partners to make projects like this feasible.



Bockstael Construction Limited

[FactaNV]

That's so sick actually. Could be a test case for future construction methods eh?

[ColdRain&Snow]

According to this graphic, this is currently the tallest building under construction in Winnipeg.

https://www.reddit.com/r/skyscrapers/com...nstruction_building_by_city_in/#lightbox

[Biff]

Cool graphic.

I see we are duking it out with St Catherines.