Winnipeg | 300 Main St.- Phase II / 360 Main St. | ~142M | 465 Ft | 42F | U/C - Page 273

WinCitySparky · #**5441** Posted **Oct 1, 2020, 11:58 PM**

Does anyone have vacancy numbers on 300 Assiniboine? I’m trying to get an idea in my own mind how long 300 Main can expect to take to fill up, if it ever gets finished.

bomberjet · #**5442** Posted **Oct 2, 2020, 12:00 AM**

It'll take years.

ba_split · #**5443** Posted **Oct 2, 2020, 1:52 AM**

Quote:

Originally Posted by drew

The foundation was in place for the vertical loads, but there was a lot of fairly complicated work to reinforce the existing elevator shaft core to resist the lateral loading from the taller (than originally designed) tower.

I believe the concrete strength of the existing core was less than was expected, so that also was a complicating (i.e. time suck) factor.

All of that work was happening behind the scenes, so it wouldn't necessarily look like a lot was going on from the outside.

Then there was the post tender bankruptcies of the steel and precast concrete suppliers. Suppliers for a 42 storey building. There aren't a lot of these types of suppliers in Winnipeg - in case you were wondering.

Remember, all of this was happening while the steel duty thing was going on with the US, so steel would have needed to be sourced from all over the place to keep the budget intact - but not necessarily somewhere with a quick delivery time.

These are not small issues.

Then covid hit.

Let's all be thankful that owner of this tower has kept this thing going - despite the world seemingly throwing everything it possibly can at it.

The Steel Contractor quit the project--Correct?
There aren't Steel Suppliers of what type in Wpg?

The Jabroni · #**5444** Posted **Oct 2, 2020, 5:32 AM**

New page!!

GreyGarden · #**5445** Posted **Oct 2, 2020, 1:27 PM**

I feel like looking to TNS is probably a better indicator of how long 300 Main will take to fill up. 300 Assiniboine seems like a very different type of building compared to TNS and 300 Main. That being said, I have no idea what the numbers are like at TNS, whenever i walk by after work there are always plenty of lights on, but that's just anecdotal. I did see on Twitter that they were having promotions for TNS - the person who tweeted it was trying to make it sound like they were struggling to find tenants. I'm not sure if that's true.

Winnipegger · #**5446** Posted **Oct 2, 2020, 1:49 PM**

Quote:

Originally Posted by WinCitySparky

Does anyone have vacancy numbers on 300 Assiniboine? I’m trying to get an idea in my own mind how long 300 Main can expect to take to fill up, if it ever gets finished.

The CMHC publishes rental unit vacancy rate statistics down to the neighborhood and census tract level (where available). For downtown Winnipeg, the overall vacancy rate as of October 2019 was 4.2%.

While there has been a significant increase in the supply of rental units downtown over the last decade, recent vacancy rates downtown are only marginally higher than Winnipeg's overall rate. From that perspective, the downtown rental market is relatively healthy I'd say.

I don't know how long it could take for the market to fully absorb a 200 unit building, but my guess would be 1 to 3 years and once full, will likely stay full for the foreseeable future.

drew · #**5447** Posted **Oct 2, 2020, 2:05 PM**

Quote:

Originally Posted by ba_split

The Steel Contractor quit the project--Correct?
There aren't Steel Suppliers of what type in Wpg?

The original steel supplier went out of business post-tender.

There aren't a lot of steel suppliers that can supply a building of this size in Winnipeg. There is really only one.

buzzg · #**5448** Posted **Oct 2, 2020, 2:51 PM**

TNS is over 80% full, could be higher now as I was told that a couple months ago.

Wpg_Guy · #**5449** Posted **Oct 2, 2020, 3:00 PM**

The new building on Hargrave has very few units left, James Ave is almost full, the new build on Aubert in St B across from downtown has only 3 units left. The demand is there.

Winnipeg Grump · #**5450** Posted **Oct 2, 2020, 4:13 PM**

Quote:

Originally Posted by buzzg

TNS is over 80% full, could be higher now as I was told that a couple months ago.

242 Hargrave is full, with Skip moving in by year's end.

TNSE is taking all 4 floors of 225 Carlton's office space so now you're left with a bit of commercial space on 1 and 2 then the suites. As noted by Buzzq, those are doing very well. I'd be pretty happy with that fill-rate if I was TNSE.

Flatland Metropolis · #**5451** Posted **Oct 2, 2020, 7:05 PM**

Quote:

Originally Posted by bomberjet

It'll take years.

Especially with the 'rona making the rounds.

Biff · #**5452** Posted **Oct 2, 2020, 9:14 PM**

Raising the crane n the way home from work..

pegcityboy · #**5453** Posted **Oct 3, 2020, 3:56 AM**

Let’s not forget we have conversions being done in the exchange ,plus former MB housing building on Smith and the former Medical Arts building plus Stradbrook getting closer to occupancy , so if those are filled fairly quickly , I could see more residential towers built downtown . See what the vacancy rates are in the next year . Plus the apartment building 20 story on former McNaught site should be starting at some point and Broadway Commons and Good street apartments should be occupied in the next while . Not even mentioning Railside at the Forks which is coming at some point also .

buzzg · #**5454** Posted **Oct 3, 2020, 2:56 PM**

Ya in 3-5 years we may start to get some critical mass downtown that more retail begins to return. I personally would say that while sure, major chain retailers are almost gone from downtown, there's still lots of great local shops and restaurants.

The KEY for the next decade should be Downtown BIZ, Exchange BIZ, The Forks & city all working together to officially designate residential focus streets/zones. While all this new residential is great, it's mostly been random buildings spread out all over, which is not helping to concentrate people in areas enough to get some retail nodes going to support them. If it were up to me, Broadway, Garry/Fort, Graham should be the downtown focus.