Winnipeg Construction IX

[Bluenote]

Originally Posted by esquire

^ HBC really hasn't put much money into any of its Winnipeg stores over the last 30 years... even the Polo Park location is basically still riding the coat-tails of the renovation that Sears did back in 2000 to turn it into a short-lived small-e 'eatons' location.

I think the downtown store received a significant upgrade around the time Portage Place opened (its last meaningful upgrade), but that was it. These days if the carpet rips, the only repairs are of the duct tape variety.

I think part of the issue is that dated mall across the street and those eyesore skywalks that attach to the Bay. At one time in the late 80’s when the mall was cool and the skywalks looked new and were full of little stores. The foot traffic to the bay was 10 Times what it is now. The Bay as pointed out was also renovated then and looked good.

I think of the mall would just spend some money on updates and the city spend some cash on those ugly as sin skywalks. It would bring back the traffic. But when you walk through there now. You just want to get out as fast as possible.

[BAKGUY]

Originally Posted by Roger Strong

That sounds like the latter days of Eaton's, when they just stopped doing mainteI nance.

I Disagree. I worked @ Eaton's Downtown and they did far more maintenance to the end than The Bay Downtown is now doing. They had a permanent maintenance staff that to the end had linoleum and carpet rolls in the basement to do over areas that showed wear.
The attitude @ HBC is we do not make a profit at this location so be lucky we do not close. With the shrunken withered store from 7 to only 2 functioning floors they would do a far better job. If they did a spectacular reno it could ignite something fabulous across downtown as a whole!

[Wpg_Guy]

I like the lighting on The Met

[Wpg_Guy]

Sterling Lofts

[img][/img]

[Roger Strong]

Originally Posted by BAKGUY

I Disagree. I worked @ Eaton's Downtown and they did far more maintenance to the end than The Bay Downtown is now doing. They had a permanent maintenance staff that to the end had linoleum and carpet rolls in the basement to do over areas that showed wear.

After Eaton's closed and people were demanding that the building be saved, the former property manager did an op-ed in the Free Press. He listed a bunch of reasons why the building would never be turned into condos or apartments, and why new retail in the building was unlikely.

Among the reasons was that maintenance had stopped towards the end. The building had a tacit agreement with the city to avoid inspections, because they'd lead to the building being closed rather than repaired. We're talking plumbing and electrical, not carpet.

The warehouse building (City Place, etc.) was a different story and was maintained. Among the things going for it was that the floors could hold a heavier load.

[Urban recluse]

God I hope the emergency exit is not staying like that.

God that Dollarama building is just swaful; fine for downtown Morden maybe, but this location: no way!

[buzzg]

Up close it looks like framing, I'd imagine it's gonna be some sort of boarding.

[Urban recluse]

Glass enclosure with black framing would look mighty fine.

[Wpg_Guy]

More info on the NewPort Center redevelopment

NewPort Center is the newest member of the SHED district

By Geoff Kirbyson

True North Square is still under construction but its impact is already being felt in Winnipeg's downtown office market.

The new owners of the NewPort Center have already begun a multi-million-dollar upgrade to the nearly 50-year-old building's interior and exterior. By the time the upgrades are completed in 2020, 330 Portage Avenue will have been transformed from what they consider to be a B- building into a B+.

The renovations will include exterior glazing, upgrades to the elevators, lobbies, common areas and washrooms and a repositioning of the entrance way to attract a large restaurateur. In May, a skywalk-level conference room will be complete and ready for use by tenants.

As specialists in retrofitting and upgrading buildings, KingSett Capital and CCI Corpfin Capital were attracted to the NewPort Center because it hadn't had any major renovations since it was built in 1970.

Without question its most attractive feature was its location in the heart of the Sports, Hospitality & Entertainment District (SHED), just across Hargrave Street from the home of the Winnipeg Jets and Manitoba Moose and the site of dozens of concerts and other events every year.

"We're at center ice," said Linda Capar, Winnipeg-based senior associate with Avison Young, which is handling the leasing of the building.

"We're connected through the skywalk (to Bell MTS Place) and we'll benefit from the traffic at True North Square and upgrade to the SHED from that development."

True North Square, a $400-million, four-tower mixed use project, is under development with the first office tower scheduled to open in June 2018.

It has already signed up a number of long-term tenants who are relocating from Portage and Main, including Scotiabank, law firm Thompson Dorfman Sweatman LLP and accounting and consulting firm MNP.

It's estimated this transformative project will pump an estimated $500 million of investment capital into downtown Winnipeg by the time it's all completed in 2020. The plans call for it to feature more than one million square feet of residential, retail, hotel, office, parking and public space, shared among all four towers.

NewPort Center, which has 18-storeys and 151,000 square feet of space, had a vacancy rate of 18% when it was purchased last summer, but it has since fallen to 8%, thanks primarily to the recent arrival of a government tenant into 6,300 square feet.

Prospective tenants can choose from turn-key model suites of 1,000 square feet up to a full floor of 9,000 square feet. A show suite of more than 2,300 square feet on the 18th floor will be ready for occupancy in April.

The owners are "actively pursuing" tenants that require new space and want to be in the heart of the action in the SHED.

Gord Wiebe, president and CEO of CCI Corpfin, said NewPort Center is the first office asset in Winnipeg for CCI Corpfin Capital and KingSett Capital but he's optimistic more will follow.

"We're always looking. We haven't found anything near the quality of (the NewPort Center) so far of what we'd like to buy," he said.

That wasn't the case in London, Ont., where CCI Corpfin Capital and Kingsett Capital recently purchased the WestMount Center, an enclosed mall, for $31.5 million.

"There haven't been that many opportunities in Winnipeg to buy true value-add buildings," Wiebe said. "And there's never been this kind of momentum. There is a real change in the attitude of people in Winnipeg and that's driving a downtown renaissance. True North and the SHED are the drivers behind it. We are capitalizing on this with a unique office space opportunity that takes full advantage of the major investment in the area."

Newport Center’s large windows provide an abundance of natural light and its common area upgrades to the corridors and washrooms will begin in 2018.

It has 20 tenants, including the Bank of Montreal, Rogers Communications, the Winnipeg Regional Health Authority, Investors Group Financial Services and the Public Utilities Board of Manitoba.

http://www.winnipegrealtors.ca/Resources/Article/?sysid=3298




http://looplink.winnipeg.avisonyoung.com...yCurrency=CAD&RentPer=PY&SRID=0&IP=false

[Urban recluse]

Looking forward to this. Now, about its neighbor...

[CoryB]

Crane lift happening today at Sterling Lofts. Looks like it will be those anti-climb, tight box, metal fence style panels closing in the emergency escape.

[Urban recluse]

How...ghetto.

[Roger Strong]

Originally Posted by Urban recluse

How...ghetto.

That's non-market-speak for "Micro-Apartments."

[buzzg]

Originally Posted by Urban recluse

Looking forward to this. Now, about its neighbor...

That atrium area appears to be replacing/renovating the neighbouring building.

[Urban recluse]

Yeah, I meant the next one over.

[buzzg]

What's your issue with that one? Doesn't really bother me too much, there's new signage about to go up that's hopefully a lot nicer. There's definitely worse, and empty buildings still on Portage haha.

[Urban recluse]

I guess I am still fantasizing about retail/F&B over social services.

[buzzg]

Hahah, yeah definitely not the best use, but let's just try and fill all the empty storefronts first lol.

Anyone know if Air Canada owns their building, or is it someone else? And is Window Park owned by the city? The park is really starting to look appalling.

[wardlow]

Originally Posted by buzzg

Anyone know if Air Canada owns their building, or is it someone else? And is Window Park owned by the city? The park is really starting to look appalling.

Yes, they do.

What's Window Park? The park in front of the Air Canada Building is City-owned.

[Roger Strong]

Originally Posted by wardlow

Yes, they do.

They bought it back?

(They originally owned it. But when Air Canada was losing money a new CEO won acclaim for turning it around.... by selling the Air Canada building and other assets. They'd then have to pay rent, but he made a profit that year and that's all that counted.)