Winnipeg | Downtown | True North Square | U/C

[dmacc]

^+1

[Biff]

Originally Posted by drew

In a perfect world this would be going up at the existing surface lot beside their existing HQ at Main and Broadway. It would have had a far greater impact there. Le sigh.

Time to actively encourage the development of Broadway back into a predominately residential artery.

Someone extremely high up, and I mean tops, told me today that they are looking at other things but has found it unbelievably frustrating that a lot of the surface lot owners absolutely refuse to sell their lots.

[Gm0ney]

Originally Posted by Biff

Someone extremely high up, and I mean tops, told me today that they are looking at other things but has found it unbelievably frustrating that a lot of the surface lot owners absolutely refuse to sell their lots.

Tax them like they're developed.

[optimusREIM]

Originally Posted by Andy6

Graham and Carlton is the new Portage and Main. Just needs some barricades to complete the transformation.

Maybe we can have a "non-binding" plebiscite to decide. Oooo even better, let's let the business owners on the 4 corners fund a retail concourse, underground of course, and then we can let it decay for 40 years and complain bitterly when changes occur in any way.

[buzzg]

Originally Posted by drew

It's OK. Not tall enough to make an impact one way or the other.

In a perfect world this would be going up at the existing surface lot beside their existing HQ at Main and Broadway. It would have had a far greater impact there. Le sigh.

Time to actively encourage the development of Broadway back into a predominately residential artery.

Totally agree, it's perfect for it really. Already lots of residential on the street and to the south. Focus on main floor commercial with residential above. Doesn't even need to be big buildings, but just make a busy, active streetfront. Look at streets like Commonwealth Ave, Newbury Street, Tremont Street in Boston – incredible.

Then also look to Boston's Southwest Corridor Path (Carleton St, Claremont St, etc) for how to develop the Portage Place Promenade.

Originally Posted by Andy6

Hopefully the existing Wawanesa building will be demolished and replaced with a major residential project at Main and Broadway.

No, hopefully someone just develops the empty lots. No need to tear down the existing building, the surface lots are big.

Originally Posted by Biff

Someone extremely high up, and I mean tops, told me today that they are looking at other things but has found it unbelievably frustrating that a lot of the surface lot owners absolutely refuse to sell their lots.

In regards to parking for Wawa or redeveloping the Broadway and Main lot?

[optimusREIM]

Originally Posted by Biff

Someone extremely high up, and I mean tops, told me today that they are looking at other things but has found it unbelievably frustrating that a lot of the surface lot owners absolutely refuse to sell their lots.

Wait they are, as in actively and currently, looking at other things? Does this mean that there could be more to come? Also, It's really discouraging to hear that owners of parking lots can't bear part with them since they are cash cows. How long do they plan to sit on their land before letting it go? I bet that the whole skycity lot sale really messed the economics and market for parking lots up.

[esquire]

Originally Posted by Biff

Someone extremely high up, and I mean tops, told me today that they are looking at other things but has found it unbelievably frustrating that a lot of the surface lot owners absolutely refuse to sell their lots.

I guess the Skycity surface lot debacle didn't help things, everyone thinks their lot is worth 10 million bucks now. But in fairness to the much maligned surface lot owners, I don't see why they should take one for the team so that one of our developers can meet their profit targets.

[esquire]

Originally Posted by drew

It's OK. Not tall enough to make an impact one way or the other.

In a perfect world this would be going up at the existing surface lot beside their existing HQ at Main and Broadway. It would have had a far greater impact there. Le sigh.

Time to actively encourage the development of Broadway back into a predominately residential artery.

^ Good point. The other parts of downtown all seem to have clear purposes, but Broadway is kind of twisting in the wind. Like I said in an earlier post, the days of Broadway as our wannabe University Avenue or boul Rene Levesque, lined with insurance , trust and financial companies is dead. So what is it supposed to be? The "government district"? A residential area? Both could work... the most successful downtown residential area is just a few metres away south of Broadway, yet Broadway itself doesn't really project any of that success. Maybe a few new builds could capitalize on the people in the area and form a new image and purpose for Broadway.

[Andy6]

Originally Posted by optimusREIM

Wait they are, as in actively and currently, looking at other things? Does this mean that there could be more to come? Also, It's really discouraging to hear that owners of parking lots can't bear part with them since they are cash cows. How long do they plan to sit on their land before letting it go? I bet that the whole skycity lot sale really messed the economics and market for parking lots up.

It’s not really sitting on it. It’s using it profitably to provide a service that is in big demand (which is a sign of health in the downtown area).

[Biff]

Originally Posted by optimusREIM

Wait they are, as in actively and currently, looking at other things? Does this mean that there could be more to come?

Possibly. Said Portage was tired and would like to do something there, but a lot of the owners refused to sell (not just parking lots but run down or small buildings)

[EspionNoir]

Originally Posted by Biff

Possibly. Said Portage was tired and would like to do something there, but a lot of the owners refused to sell (not just parking lots but run down or small buildings)

Maybe they will sell if they increase the price of the offers?

[Wpg_Guy]

Wawanesa moving to new office tower at True North Square
By: Martin Cash
Posted: 06/13/2019 12:01 PM

Wawanesa Mutual Insurance Company will be the newest resident of True North Square with the announcement today of a new 19 storey, 300,000 square foot building on the southwest corner of Carlton Street and Graham Avenue, the former location of Hull’s Books.

It will become home to the Winnipeg insurance company’s 1,100 employees, who currently work out of six different locations in the city.

The new development becomes the fifth tower of the True North Square Development that will now total 1.5 million-sq.-ft. of space.

True North Real Estate Development — a partnership between the Chipman, Richardson and Thomson families — will be the developers and owners of the Wawanesa building.

The $130-million building will receive no public sector funding according to TNRED CEO, Jim Ludlow.

Its construction will necessitate the demolition of the RWB’s professional division student residence immediately south of Graham Avenue. An agreement is in place between TNRED and RWB whereby TNRED will build a new residence for the RWB at a site to be determined in the immediate vicinity.

Evan Johnston, senior vice-president of Wawanesa, said the mutual insurance company’s Winnipeg workforce has doubled over the past five years and not only did it need additional space, it needed the kind of modern space that befits a competitive North American insurance company.

He said with occupancy not until 2023 there are no plans yet for the company’s current head office building on Broadway.

"In expanding our presence in Winnipeg, we strengthen our ability to support the growing needs of our 5,000 employees and two million policyholders across North America," Johnston said.

https://www.winnipegfreepress.com/busine...ower-at-true-north-square-511246162.html

[bomberjet]

Not sure if the info is available. But would be interesting to know what agreements are in place. Did RWB sell the land to TNRED or was it given for free (1$)? With the expectation that TNRED will build a new building somewhere that meets some minimum agreed upon standards.

[Wolf13]

This is awesome!

Sorry drew, but why so underwhelmed? I mean, the purpose of the building isn't to build a skyline, that's a byproduct... at 19 stories, it's still quality density at a good height downtown.

I'd prefer a surface lot, but this greatly improves what was there. Nor can you fault Wawanesa for wanting to be near the action rather than a surface lot, which I'm sure was proposed by other developers.

[Wpg_Guy]

I find lack of height is more then made up for in the quality of the architecture. It's a beautiful design that i hope will not change much upon it's completion.

[optimusREIM]

Originally Posted by bomberjet

Not sure if the info is available. But would be interesting to know what agreements are in place. Did RWB sell the land to TNRED or was it given for free (1$)? With the expectation that TNRED will build a new building somewhere that meets some minimum agreed upon standards.

I think that either way, the agreement has to lead to the construction of a new residence which is strongly suggested as being a foregone conclusion based on the comments at the announcement this morning. This is good news. My guess is TN is already cooking up some plan to maybe build on a lot nearby (hopefully a parking lot) and hopefully include more than just the residence into the building. The residence would certainly have its own dedicated space but I could see them trying to capitalize this into a sort of midrise building with other units.

Medical Arts parking lot? Archdiocese of Winnipeg? There are a few suitable sites nearby although I'm sure the actual site will be a total surprise, just like this announcement was until yesterday

[bomberjet]

Ya, seems it's a key point of the agreement for the development.

All parties are in this to make money. TN will not be doing anything for free. And will not be doing more than they're legally obligated. I'm just curious to what the specifics say.

On the actual residence, maybe they build over top the parkade at them south end? That would make a ton of sense.

[Biff]

I know some on here are critical of "The SHED District" but not withstanding how it was created etc, etc...you gotta admit from the standpoint of new development in downtown centered around the arena you have 7 new towers in the last ten years. Glasshouse, Alt, TNS 1, TNS 2, Sutton Hotel, La Grande Residence and Wawanesa. Not to mention Hydro and essentially a new convention centre.

It has become quite the conglomeration of towers....almost like a big city downtown.

[Wolf13]

Originally Posted by Wpg_Guy

I find lack of height is more then made up for in the quality of the architecture. It's a beautiful design that i hope will not change much upon it's completion.

I wouldn't even call 19 stories of office a lack of height either. Obviously the office market isn't going bananas and this is a relocation, so barring some other larger HQ relocation to DT Wpg, this is as big as it was ever gonna get.

[DonaldSmith]

It is nice to see companies like Ceridian and Wawanesa trade up from class B to Class A office space.