Click here to visit the mobile version of winnipegfreepress.com

Winnipeg Free Press > Latest News > Exchange makeover creates excitement

Latest News

Winnipeg Free Press - PRINT EDITION

Exchange makeover creates excitement

By: Murray McNeill

17/11/2009 1:00 AM | Comments: 22

Qualico has made an offer to buy six heritage buildings from Nygard International — three on the north side of Market Avenue and three on the south side of James Avenue (pictured).

BORIS.MINKEVICH@FREEPRESS.MB.CA Enlarge Image

Qualico has made an offer to buy six heritage buildings from Nygard International — three on the north side of Market Avenue and three on the south side of James Avenue (pictured).

THE largest residential conversion project in more than 20 years is being planned for the East Exchange District.

The Qualico Group wants to purchase six, multi-storey heritage buildings on Market and James avenues from Nygard International and convert them to residential/commercial use.

Spokespeople for both companies confirmed Monday that an offer to purchase has been submitted and negotiations are underway.

"You can confirm there's something cooking," Qualico vice-president John Daniels said. "Early in the New Year we'll hopefully be in a position to make an announcement one way or the other."

Daniels also confirmed that the City of Winnipeg may also be planning to build a 450-stall parkade adjacent to the Qualico development, although a spokesman for the city said he could neither confirm nor deny that.

"It certainly would be a plus factor if it did happen," Daniels said. "But we're looking at other possibilities for parking, as well. So it (the Qualico development) may be able to go ahead without it."

Daniels didn't reveal how many residential units are being contemplated or the dollar value of the proposed project. Nor would he say if the residential units would be condominiums, rental units, or both.

"It's all pretty speculative at this point," he said, adding only that it will be a mixed-use development with commercial space on the main floors of the buildings and residential units above.

Nygard officials were also being tight-lipped. A company spokesperson said the firm wouldn't discuss details while talks are still ongoing.

Sources said three of the buildings are located are on the north side of Market Avenue, east of Lily Street. They include the former Athletes Wear building at 145 Market. That building used to house a Nygard Fashion World store and is now the new home of Brick's Fine Furniture.

The other three buildings are on the south side of James Street, also east of Lily Street, sources said.

Real estate agent Bill Thiessen, of RE/MAX Professional Realty, who specializes in downtown condominiums, said because of the number of buildings involved, it would be the largest residential redevelopment project in the Exchange District since the Ashdown Warehouse conversion in the late 1980s.

It would rival Red River College's downtown campus as one of the area's most significant heritage-building conversion projects, he added.

Thiessen said the fact Qualico is the developer may be as significant as the project itself.

"I'm just so excited that the largest residential developer in our province is saying 'We're going to take a serious look at the downtown.' They are consummate pros."

He said ideally, the development should include a combination of condominiums and apartments. And at least half of the condos should be smaller, more moderately priced units -- maybe 700- or 800-square-feet priced at less than $200,000.

There's also a need for some two-bedroom units priced in the $225,000-to-$275,000 range, he said.

As for the commercial units, Thiessen said they should be mainly retail with some office space.

Although the condo complexes on nearby Waterfront Drive have had trouble filling ground-floor retail space, Thiessen said the rents in retrofitted buildings are usually about a third less than in new buildings. It should be easier to find retail tenants for the Qualico development.

Jino Distasio, director of the University of Winnipeg's Institute of Urban Studies, also called for a mixture of residential and commercial units. "We want to look at some balance so there's an opportunity for all different kinds of people to get into this very exciting area," he said. "And the greater the level of diversity, the easier it is to market them."

He said it's also great to see a major developer like Qualico trying to find a new use for some old downtown buildings, noting Winnipeg has one of North America's largest collections of heritage warehouse buildings. "We have this great asset and we need to save it."

The executive director of the Exchange District Business Improvement Zone welcomed any new retail or residential development.

Mal Anderson said there are about 1,000 people living in the Exchange District. There must be at least twice that many to create the demand needed to attract retailers such as a grocery store.

murray.mcneill@freepress.mb.ca

What is it?

A proposal to purchase six warehouse buildings on Market and James avenues, and redevelop them as residential and commercial space.

 

How big are the buildings?

Most are four- or five-storey structures.

 

Who's behind it?

The Qualico Group, which is the province's largest residential developer.

 

Who owns the buildings now?

Nygard International, which acquired them for an ill-fated, $80-million plan to redevelop a large section of the East Exchange District with covered shopping malls, office space and hundreds of new residential projects. That project, dubbed Nygard Village, was scrapped in 2007 after the city allowed two new condo projects on Waterfront Drive, thereby denying the Nygard development the river-front vista the company said was needed to make it viable.

 

What's being proposed?

Details are sketchy. Nygard officials are not commenting and a Qualico official would only say it would be mixed-used development with commercial space on the main floor of the buildings and residential units above.

 

What about parking?

The Qualico official said the city is considering building a 450-stall parkade on a property adjacent to the development, although a city spokesperson would neither confirm nor deny that. But the Qualico official said the company is also looking at other parking options, so the project could proceed even without the city parkade.

Republished from the Winnipeg Free Press print edition November 17, 2009 A3

  • Rate this Rate This Star Icon
  • This article is currently rated an average of 5 out of 5 (2 votes).

    • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

22 Commentscomment icon

"Smells like the stench of gentrification."

Yes. Where are all those pigeons supposed to go?

Decline has displaced more residents in central Winnipeg than phantom "gentrification" has.

Smells like the stench of gentrification.

Let me get this right... The City of Winnipeg owns an indoor parkade with almost 1000 parking spaces a few blocks south of this location which generates annual profits close to 2 million dollars. Yet in his wisdom our Mayor Sam Katz wants to sell off the property for the good of us all because owning parking lots are not to be considered a city priority . Now we hear that the City wants to construct a new 450 stall parkade in the exchange district for use by "potential" customers. Is our Mayor "on the take"?

Adding a trendy wharehouse style district to the fringe of the downtown core in any small city, drastically helps improve both the appeal and the value of the surrounding area. They tend to be upperscale, yet affordable, youthfull and well built. I look forward to seeing the achitectural plans.

Sounds good to me! It should be a boost to the inner city. And to respond to some of the comments here, more parking is not just convenient, it is essential for both local buisness and prospective tenants/condo owners. I love Winnipeg, it has a beautiful downtown, but I have to be honest, in 5 years of living in the West End and North End, I rarely shopped downtown at all... (And how much closer can you live to downtown than that?) It was just too inconvenient because I had no assurance of finding parking. I would routinely drive out to Regent ave to shop at places I knew I could park, even though I feel socially guilty about shopping at a place like Walmart. But let's be real... Our society IS based on autos, whether we all like it or not. I would not even consider moving somewhere I could not park very closeby and economically. It just would not make sense at all.

Lulu, cigarettes are bad for you sweetheart.

The Bay has a nice grocery and best of all mentioned but of course there is a need for a few green grocers like you see in other cities downtown.Those hours would have to be more like a 7 am to mdnight operation.
A Sobey's market is planning to set up in our downtown as for example on the main downtown streets in Edmonton (Jasper Ave) and Toronto (Yonge St)
Although we should use public transportation more, the new residents will people who need a car for their line of work.
so they need a place for their vehicles.
Also, some people attending the theatres etc...do drive in from other areas well outside Winnipeg.I think we need to be cognisant of that as well.

I live in the the housing co-operative at 113 Market Avenue, which only building on block that Nygaard doesn't own. I'm worried about the construction noise and hassle...but at the same I'm pleased about having more neighbors downtown, especially if some of them will be normal people, not just rich snobs locked away in $500,000 ivory towers. I just get nervous because Qualico is a big corporation and our Mayor tends to forget about constituents when there's big money involved.

With all the Mayor's talk about sustainability, increasing auto dependency with more parking is quite hypocritical.

The supermarkets the dude mentioned below me are too far for short trips to the store. What?! Are you kidding?!

When they say grocery, they mean convenient ones. I take it you've never been to the Bay grocery store? The hours are beyond annoying. I can't even begin to guess where the extra foods on Notre Dame is - and as much as I love Chinatown (And I go to the King street supermarket often, for chinese ingredients), I am not cooking rooster THAT often.

Give me a break.

You cannot buy cigarettes anywhere in the Exchange until you get to Domininion news, and that isn't the Exchange anymore. You need flour? What? you're gonna bike it to Osborne in the cold at 9 pm?

Come on!

(Of course, my guess is you have a car and drive everywhere!)

View all Comments

The comment period for this story has ended.

letters

Make text: Larger | Smaller

Special coverage

Our Communities

Poll

Should the province spend $3.1 million to keep Greyhound inter-city bus service in Manitoba?

View Results

View Related Story