Winnipeg | Downtown Developments & Discussions

[ColdRain&Snow]

Is it just me, or does it seem like there is a large demand for higher-end rental units downtown right now?

I noticed 300 Main St seems to be filling up pretty fast according to this thread:
https://skyscraperpage.com/forum/showthread.php?t=221811&page=361

255 Carlton St (at True North Square) seems to be pretty full:
https://www.225carlton.com/?gclid=Cj0KCQ...S8VTH3iCBrzwhOONZmDQvaEPywwaAjb6EALw_wcB

185 Smith St seems very full (only 2 units available):
https://www.smithstreetlofts.ca/

233 Kennedy St seems very full (no 1-bedrooms available);
https://www.theartsres.com/floorplans

None of these are cheap buildings, you're looking at $1400+/month to get a 1-bedroom in any of the buildings above. Are things finally changing downtown? It seems like there's an increasing number of people in Winnipeg who are willing to pay a premium to live downtown.

[TheDowntowner]

Originally Posted by ColdRain&Snow

Is it just me, or does it seem like there is a large demand for higher-end rental units downtown right now?

I noticed 300 Main St seems to be filling up pretty fast according to this thread:
https://skyscraperpage.com/forum/showthread.php?t=221811&page=361

255 Carlton St (at True North Square) seems to be pretty full:
https://www.225carlton.com/?gclid=Cj0KCQ...S8VTH3iCBrzwhOONZmDQvaEPywwaAjb6EALw_wcB

185 Smith St seems very full (only 2 units available):
https://www.smithstreetlofts.ca/

233 Kennedy St seems very full (no 1-bedrooms available);
https://www.theartsres.com/floorplans

None of these are cheap buildings, you're looking at $1400+/month to get a 1-bedroom in any of the buildings above. Are things finally changing downtown? It seems like there's an increasing number of people in Winnipeg who are willing to pay a premium to live downtown.

I think it isn't as out there of a prospect now in 2023. It is definitely a mix of a lot of different factors. We have higher immigration levels, start of the school year, an uptick of inter-provincial migration, a new Ukrainian diaspora, more couples choosing the DINK life, and an under-representation of the impact of remote work on incomes/ choice in residence.

We should also consider that we think $1400/mo is a "premium" price to live in a one bedroom in DT Winnipeg. But it is still $450/mo cheaper than the national average for a one bedroom...

https://www.ctvnews.ca/canada/canada-s-l...-2-078-per-month-rental-report-1.6538807

[Cam]

Originally Posted by TheDowntowner

I think it isn't as out there of a prospect now in 2023. It is definitely a mix of a lot of different factors. We have higher immigration levels, start of the school year, an uptick of inter-provincial migration, a new Ukrainian diaspora, more couples choosing the DINK life, and an under-representation of the impact of remote work on incomes/ choice in residence.

What does that mean?

[TheDowntowner]

Originally Posted by Cam

What does that mean?

Dual Income No Kids

[OTA in Winnipeg]

^

[1ajs]

Originally Posted by TheDowntowner

Dual Income No Kids

just like these to who live in the exchange who actualy refer to themselfs as dinks https://www.youtube.com/@auroraadam

[Jeff]

judging by the amount of lights on in the lower half of 300 main i noticed last night, that building seems to be filling up quite quickly for sure!

[WinCitySparky]

I’m sure the fire at Strardbrook will ensure all 200 suites get leased before year end

[cheswick]

Originally Posted by WinCitySparky

I’m sure the fire at Strardbrook will ensure all 200 suites get leased before year end

What are you implying?

[WinCitySparky]

That a bunch of the people who were evicted from the Stradbrook tower due to the fire will take up the remaining un-leased suites at 300 Main from the original 200 that were initially put up for lease (the first 21 floors).

[cheswick]

Not sure where to put this, but IG Wealth Management is forcing employees back to office 3 days a week minimum by years end. Upto now it was department specific with some folks not coming in at all. I'm sure this mandate is going to go over like a lead balloon so we'll see if it gets fully implemented, but it'll mean more people downtown.

[zalf]

The rubble from the former Windsor Hotel was cleared away this week, and its foundation has been excavated and filled.

[WinCitySparky]

Yeah just walked by 5 min ago, took up more room than I had realized

[FactaNV]

Originally Posted by zalf

The rubble from the former Windsor Hotel was cleared away this week, and its foundation has been excavated and filled.

Anyone hear any dirt on what the plan is for that land?

[post_man]

Originally Posted by FactaNV

Anyone hear any dirt on what the plan is for that land?

I can't think of any reason Sabino and Garcea would have bought the Windsor in the first place if it wasn't to turn it into condos one way or another. So, not dirt, but conjecture: my money's on selling it to a condo dev.

The Pembina and Cambridge hotels and the ill-fated SkyCity deal support this guess.

[bomberjet]

Property. But it, hold it, sell it. Run a scam with other like minded individuals. The norm.

[WinCitySparky]

Rentals maybe but I doubt condos, the market in 2023 doesn’t seem to support it especially in current downtown status quo.

[borkborkbork]

https://www.winnipegfreepress.com/breaki...reno-for-downtown-parkade-worth-it-lukes

$30-55M to repair a parkade that generates <$1M annually. You have to really believe there are lots of positive spillovers, because otherwise, those economics aren't very attractive.

I'm guessing this is really a hidden subsidy to the WPS, since if I recall right half the spots are earmarked for cop parking

[1ajs]

what happens when u cheap out on maintince

[Labroco]

Originally Posted by FactaNV

Anyone hear any dirt on what the plan is for that land?

A non confirming parking lot…