Winnipeg Construction IX

[esquire]

I guess HBC's absence from a forum about the building's future tells you what to expect.

[Urban recluse]

Originally Posted by bomberjet

^They'd just mess it up anyways.

I was hoping they show some commitment to the building.

[esquire]

In some ways it's amazing that the downtown HBC is still even open. I'd love to know store's revenues and profits over the past 20 years looks like.

[drew]

Originally Posted by esquire

In some ways it's amazing that the downtown HBC is still even open. I'd love to know store's revenues and profits over the past 20 years looks like.

Probably a flat line, for the first 10 years or so, followed by a precipitous slope downwards starting when the PP store opened, and the downtown store was basically left to flounder.

When I got married about 10 years ago, we did our registry at the Bay downtown. It was still very much a full service store at that point.

[esquire]

^ Yeah, that sounds about right. The downtown Bay has been gradually declining for as long as I can remember (I started shopping there in the mid/late 90s), but the pace really accelerated a couple years after the Polo Park store opened.

The downtown Bay is now at the point where even willing shoppers can't find what they need because the inventory is so minimal.

[CoryB]

Best guess is the retail and real estate operations of Hudson Bay are legal separate. By continuing to operate the retail store in whatever minimal capacity they can take the lose from the building carrying costs and transfer it over to their retail side reducing tax payable on both sides. There has to be some benefit to propping up that location and keeping it open.

[cllew]

^^^^ That's how Eaton's did it. The stores were owned by T. Eaton Reality Ltd and leased to the retail division. When they offered Eaton's credit cards, they came from Eaton's Credit division and were offered to retail division customers.

[trueviking]

There is nobody locally with any connection to the future of the Bay building that could show up to such an event. It's owners are in New York and any decisisions will come from there.

[DowntownBooster]

You would think with the downtown population increasing that HBC would make some kind of effort to attract more clientele. There is also a large downtown workforce within walking distance that may want to venture to the store if it were more enticing. I don't know why the company seems to have given up on what used to be the flagship store. I would not expect them to have all 6 floors open again as those days are obviously long gone but is it not possible to do something great with the 2 floors they currently operate on? It would be fine to have something else done with regard to the top 4 floors and the basement but I sure hate the thought of a growing downtown without the HBC.

[Urban recluse]

It all comes down to the building: HBC does not want it.

[Only The Lonely..]

A shame..

For four years in the 70's Winnipeg was the headquarters of the Bay (1970-74) before they relocated to Toronto.

[CoryB]

Originally Posted by DowntownBooster

You would think with the downtown population increasing that HBC would make some kind of effort to attract more clientele. There is also a large downtown workforce within walking distance that may want to venture to the store if it were more enticing. I don't know why the company seems to have given up on what used to be the flagship store.

The thought that downtown has a lot of people during the day therefore it should be able to support retail has been tried a few times (Winnipeg Square, CityPlace, Portage Place) and just does not translate through to actual sales for whatever reason. HBC held out for many years trying to make the store viable but it just wasn't happening so slowly pieces started to disappear.

Originally Posted by Urban recluse

It all comes down to the building: HBC does not want it.

As for the HBC location, the cost to operate and maintain the building is a huge drain. I don't think HBC necessarily has anything against that specific location. Heck if someone was leasing the top 4 floors and helping covering the building related costs I wouldn't even be surprised if HBC was open to keeping the building. But when you have to pay heat, property tax, etc on four floors + the basement that are contributing nothing back yeah I can understand the dislike.

[Urban recluse]

Understandable. If it were redeveloped, I would like to think HBC would lease space and keep its presence downtown...hopefully.

[EndoftheBeginning]

Six storey, 135 room Hyatt House hotel proposed for 700 Sterling Lyon Parkway. Perhaps someone whispered that a water park is coming to the area
Actually, it's not a bad location for a hotel.

[Urban recluse]

A hotel was part of the plans from the beginning. Looks good, suburban of course, but based on the location...

[esquire]

That's interesting. Given the proximity of IKEA and the OC, I figured that area was pretty ripe for some new hotels... other than the Four Points, CanadInns and Holiday Inn on Pembina, there isn't much else in south Winnipeg. Looks like this could be the growth centre in the local hotel industry.

Hyatt was probably the biggest unrepresented North American hotel chain in Winnipeg. It's also interesting that their first property here will be in SW Winnipeg and not the two major hotel hubs, downtown/airport.

The building itself looks kind of like your standard issue suburban limited service hotel job... nothing remarkable.

Good find, EotB... thanks for posting that.

[Gm0ney]

And a Residence Inn going up by the Fairfield on Ellice? Suddenly 2 new extended stay hotels arrive in Winnipeg...

[optimusREIM]

on a different note, it's been awhile since dreamscape was mentioned. LOL I know they have no chance but the website is updated for 2017 and their FAQ mentions this summer as possible start date. Can't wait to be taken by surprise when it starts haha

[Jack1983]

Didn't someone mention that there is talk of a development on the Canada Packers site? That would be a perfect location!

Originally Posted by optimusREIM

on a different note, it's been awhile since dreamscape was mentioned. LOL I know they have no chance but the website is updated for 2017 and their FAQ mentions this summer as possible start date. Can't wait to be taken by surprise when it starts haha

[biguc]

That would be an ideal location. Fairly central and with a future rapid transit stop. And since it'll all be under a trillion pounds of glass, you won't have to worry about the smell.