Winnipeg | ZÜ | 160 Osborne St & 424/425 Wardlaw Ave. - Page 7

WinCitySparky · #**121** Posted **Oct 17, 2023, 3:21 PM**

Brick is going up quickly on the west facing side, looks great. Brick’s comin back!!

optimusREIM · #**122** Posted **Oct 17, 2023, 4:21 PM**

Quote:

Originally Posted by WinCitySparky

Brick is going up quickly on the west facing side, looks great. Brick’s comin back!!

How's the progress on the building across Wardlaw? Last I saw it was a hole in the ground.

ColdRain&Snow · #**123** Posted **Oct 17, 2023, 4:46 PM**

Quote:

Originally Posted by optimusREIM

How's the progress on the building across Wardlaw? Last I saw it was a hole in the ground.

It's still a hole. I'll walk by and take some pictures tonight.

Justanothermember · #**124** Posted **Apr 10, 2024, 4:01 PM**

Bumping this thread considering all the talk of unit pricing.

Looking at the website, it seems to appear as though the units are filling up, and there is only one unit available at that $3k/month people are mentioning, so it just might be that people are willing to pay a premium for luxury living in the city. Although in saying that, most of the units listed appear to be reasonably priced for this kind of newer development in OV (under $2k/month).

ColdRain&Snow · #**125** Posted **Apr 10, 2024, 4:04 PM**

The two bedroom apartments range between $1695 - $1840. The $3000 unit (there is only one in the whole building as far as I can tell) is a live/work unit, meaning there is a large office space attached to the unit.

The average currently-listed 2-bedroom in Winnipeg on Rentals.ca is $1760/month. In this building, you can get a brand new 2-bedroom for less then that. For 1-bedrooms, the average price is $1360/month. In this building, you can get a brand new 1-bedroom for $1100/month. The prices in this building are pretty reasonable all things considered. There are for sure competitive with other new buildings.

https://www.thezu.ca/floorplans

https://rentals.ca/national-rent-report

FactaNV · #**126** Posted **Apr 10, 2024, 5:05 PM**

Quote:

Originally Posted by ColdRain&Snow

The two bedroom apartments range between $1695 - $1840. The $3000 unit (there is only one in the whole building as far as I can tell) is a live/work unit, meaning there is a large office space attached to the unit.

The average currently-listed 2-bedroom in Winnipeg on Rentals.ca is $1760/month. In this building, you can get a brand new 2-bedroom for less then that. For 1-bedrooms, the average price is $1360/month. In this building, you can get a brand new 1-bedroom for $1100/month. The prices in this building are pretty reasonable all things considered. There are for sure competitive with other new buildings.

https://www.thezu.ca/floorplans

https://rentals.ca/national-rent-report

Fair enough! I didn't realize that the 3Gs included an office, I should have checked the site. Thanks for the info guys.

Atrial78 · #**127** Posted **Apr 10, 2024, 5:37 PM**

None of these builds should be this expensive. Rent is being driven sky high by low vacancy caused by immense population growth.

lbnevs · #**128** Posted **Apr 10, 2024, 5:55 PM**

Quote:

Originally Posted by FactaNV

Fair enough! I didn't realize that the 3Gs included an office, I should have checked the site. Thanks for the info guys.

I'm confused about the huge extra cost for an office. Are these units billed as live work zoned that you can run a commercial business out of them? Or is this just another way of saying two bedroom plus den?

ColdRain&Snow · #**129** Posted **Apr 10, 2024, 6:32 PM**

Quote:

Originally Posted by lbnevs

I'm confused about the huge extra cost for an office. Are these units billed as live work zoned that you can run a commercial business out of them? Or is this just another way of saying two bedroom plus den?

The floor plan renderings show 4 computers per suite plus a few other tables. It looks like you're supposed to run a small office-based business out of them (such as a tech start up or consulting business). I doubt you run a retail business out of them.

EdwardTH · #**130** Posted **Apr 10, 2024, 8:17 PM**

Quote:

Originally Posted by Atrial78

None of these builds should be this expensive. Rent is being driven sky high by low vacancy caused by immense population growth.

Not really, being driven by construction costs more than anything. If they were cheaper it wouldn't be viable to build most of these projects in the first place. I mean I do agree that it's become wildly unaffordable.

Atrial78 · #**131** Posted **Apr 10, 2024, 11:58 PM**

Quote:

Originally Posted by EdwardTH

Not really, being driven by construction costs more than anything. If they were cheaper it wouldn't be viable to build most of these projects in the first place. I mean I do agree that it's become wildly unaffordable.

Significant population growth is absolutely increasing demand for housing. Our supply of raw materials and skilled trades workers is not keeping up with that demand and therefore prices are rising, leading to higher construction costs. Its simple supply and demand.

WinCitySparky · #**132** Posted **Apr 11, 2024, 12:21 AM**

Edit: Oops got sucked into politics chatter

michelleb · #**133** Posted **Apr 12, 2024, 12:14 AM**

Private Pension Partners' new builds are consistently on the high end of local market rents compared to other builders. It's in the name: these are investment properties intended to generate high returns for their shareholders. They're not the type of builder to apply for CMHC affordable unit subsidies or a parking reduction variance to reduce building costs.

They're not so much real estate developers as a bunch of accountants: https://privatepensionpartners.com/about/team/