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New tower announced for Portage Avenue
CentreVenture Development Corporation Announces Major Development in the Sports Hospitality and Entertainment District (SHED)Longboat Development Corporation and Groupe Germain Hospitality to develop a 200,000 sq. ft., 20-storey mixed-use tower that will be home to ALT Hotel and Winnipeg���s Stantec OfficeWinnipeg, Manitoba ��� CentreVenture Development Corporation announced the details today of a major real estate development project in the heart of the Sports Hospitality Entertainment District. Located on Portage Avenue, this important project will be jointly developed by Longboat Development Corporation and Groupe Germain Hospitality. The building, covering 200,000 square feet over 20 storeys, will house the province's first ALT Hotel and the headquarters of Stantec's Winnipeg office, a Canadian based professional consulting company. This is the first private investment in several decades in this part of the city, and will significantly contribute to the revitalization. supplied art winnipeg free press (SUPPLIED ART)
Premier Greg Selinger (right) and Mayor Sam Katz were on hand for the announcement. (JOE.BRYKSA@FREEPRESS.MB.)
Longboat Development Corp. and Groupe Germain Hospitality of Quebec have announced plans to develop a 200,000-square-foot, 20-storey mixed use tower on Portage Avenue, across from the MTS Centre.
The $75 million development, which will occupy a large part of the block fronted by the former A&B Sound building, will house Groupe Germain’s first Manitoba property, an ALT Hotel, on the upper 12 storeys. Stantec will consolidate its offices in the city to become the anchor tenant, bringing more than 250 employees to the new Stantec Building when it opens in 2013.
Details of the project were announced this morning by CentreVenture Development Corp., which said it is the first private investment in several decades in this part of the city and will significantly contribute to revitalization efforts downtown.
The project will include restoration and reuse of the Mitchell-Copp building’s historic façade on Portage, which will become the main entrance to the office component.
The ALT Hotel will provide 154 rooms in the tower, while the main floor will be retail and restaurant space with offices on floors two to six. Stantec will occupy over half the available area, CentreVenture said.
A 450-stall parkade is part of the project. Construction will get underway in November.
"Getting control of the former A & B Sound building was critical to our ability to advance the Portage Avenue Strategy", Ross McGowan, president & CEO of CentreVenture, said in a statement. "In collaboration with the Forks North Portage Partnership, we were able to consolidate this site with the Mitchell-Copp building. The assembly of the two properties created a site large enough for a significant development and we are ecstatic that Longboat Development Corporation stepped to the plate with a redevelopment plan. We believe the confidence LDC and ALT Hotels have in the downtown is just the tip of the iceberg and we will see increasing private sector investment in the downtown as a result of this bold development statement".
Both Premier Greg Selinger and Mayor Sam Katz were on hand for the announcement.
History
Updated on Tuesday, June 28, 2011 at 1:13 PM CDT: More details added.
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