Quote:
Originally Posted by Biff
So I was speaking with a high up development figure in the city and was lamenting the lack of significant new proposals in Winnipeg as opposed to what we are seeing in other communities like Halifax, Kitchener-Waterloo, Hamilton, Edmonton and Vancouver (I left out Toronto because...well it is Toronto).
I mentioned that metro Vancouver for example as they have 60+ 150m (likely at least 300 units) or taller proposals in the pipeline. I realize that Vancouver is over 3 times the size of Winnipeg, but you would think that we should have at least a half a dozen or so proposals for say 300+ unit buildings in the pipeline.
This is when they said that actually there are 4 or 5 that are in planning that will hopefully get announced this year. That sounds promising. I would rather have a bunch that get proposed and don't succeed that have no proposals at all.
Our problem is the state of downtown. It really is perceived as an unattractive for big development - the crime and homelessness. I don't want to argue these points as this is what has been communicated by developers. That is a real issue if they feel it is an issue. The city really needs to work harder to change this perception/reality.
Anyways, I thought it was great news and hope to hear more about these as they hopefully become reality.
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Interested insight Biff, although I would challenge that line of thinking from the developer. Vancouver is not without its challenges with crime, homelessness, and drug abuse, albeit concentrated away from its downtown core. And a higher downtown population means those that are visibly homeless have a higher chance of blending in rather than standing out like they do here.
An advantage with developers is that Vancouver is effectively constrained in all directions and has higher land values, so naturally you can't stick to 6 story builds and expect to make a profit, so they have to build up higher.
I would like to know how many tall proposals are going on in Calgary or Edmonton, which are much more comparable geographically and in demographics, especially Edmonton.
Right now it's too easy to build in suburban Winnipeg, which I imagine have higher profit margins and especially lower risk than in high-rise residential builds. Lower COL and the comparatively easy commute to downtown Winnipeg here also means there can't be a huge disparity in prices for rentals or condos in downtown, so that adds risk and cuts profit margins of more expensive high-rises