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Originally Posted by esquire
^ That building holds an immense amount of potential now that the somewhat-gentrified Exchange is starting to creep up to Alexander. It could really become the focal point of the northern boundary of the Exchange District... sort of like another Princess Street. Any word on who owns it or what their long-term plans are?
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It's owned by J.K. May Investments Ltd., which owns the Nutty Club buildings and a number of surface parking lots around Westbrook and Portage E. The building on Alexander E., which was built as a warehouse for Eaton's in the early 1920s, is still (under)used for warehouse purposes. Hopefully the new activity creeping up into this part of the Exchange District generates interest in redeveloping this building, or at least creating active uses in it. In the last couple of years, two building across the street are now home to a microbrewery and microdistillery, respectively, for example.
Unfortunately, I suspect the building's owner might be one of those downtown Winnipeg property owners who have limited knowledge of how real estate development works, sit on the properties, view their buildings and the surrounding neighbourhood as worthless and characterless, while also having a vastly overinflated sense of the property's value when it comes to the matter of selling it.
'Dad bought the building/parking lot for pennies in the 1940s and we are still waiting for the magical million-dollar payout from when the government builds a megaproject here. Meanwhile, we put in the minimal amount of investment.'
I haven't been inside, but I have heard from a reliable source The Nutty Club buildings east of Portage and Main are apparently this amazing magical time capsule of early-20th century manufacturing. They are close to the Exchange and The Forks.
And they make candy. They could make a killing directly and indirectly by opening up their factory to tours, but that's likely something they would scoff at with resigned cynicism.
Downtown has countless properties owned by folks like this.