Prestige rises in north Winnipeg Gauthier looks to ‘build it right’ with rental apartment development for residents age 50-plus By: Joshua Frey-Sam Posted: 6:00 AM CDT Monday, Aug. 26, 2024 Last Modified: 10:44 AM CDT Monday, Aug. 26, 2024 Updates

Hey there, time traveller!
This article was published 26/08/2024 (732 days ago), so information in it may no longer be current.

Jim Gauthier veered from his lane in automotive sales to take a stab at real estate development for the first time in 2015.

While it proved a success, the locally renowned businessman vowed it would be his only attempt at being a landlord.

Nine years later, the chairman of Gauthier Automotive Group has revved up another housing endeavour in north Winnipeg.

This time, Gauthier says he’s done it the right way.

A new seven-story, 123-unit rental apartment complex exclusive to those 50 years and older — named the Prestige — is the first such residence to hit the region in years. (It’s also the only 50-plus residence in the immediate area.)

“I don’t think there’s anything in this end of town that would compete with it,” said Gauthier, who moved from his longtime condo on Wellington Crescent to the new build earlier this month to be near three of his dealerships and his grandchildren, who reside in West St. Paul.

Located at 1025 Templeton Ave., on excess land behind Gauthier’s Kia dealership on McPhillips Street, the structure is built entirely out of concrete — one of several important characteristics Gauthier insisted on during the planning phase.

“No. 1, I felt that there was a need for 50-plus; there is none. They’re building apartment blocks all around us, they’re building very cheap ones made out of wood,” he said.

“My son and I sat down and we said, ‘If we’re going to build it, we’re going to build it right.’”

There’s certainly a sense of pride in Gauthier’s voice when discussing his latest business venture. Much of that confidence comes from believing he’s corrected some of the mistakes he made during his first build, across the street.

The Lady Joyce Apartment Homes, which Gauthier named after his late wife, became an unjustifiable venture after a few years, as the upkeep became costly due to tenants turning over so frequently.

Gauthier sold Lady Joyce to a real estate investment trust in 2020.

“The thing that we like about the 50-plus is that this is probably one of the last moves. They’ve had the house, they’re looking to downsize and they have all the amenities — there’s no reason for them to leave. So you don’t get that movement,” he said.

An underground parkade was a must-have, according to Gauthier, who believes a lack of one was a deterrent for a more mature crowd moving into Lady Joyce.

Other amenities, such as a yoga studio, gathering room on the main floor and a sky lounge that overlooks the Leila North neighbourhood, were added to make it worth the cost for a one- or two-bedroom rental, which starts anywhere from $1,495 to $2,495 per month.

Coun. Devi Sharma (Old Kildonan) has endorsed the latest development in her ward. She stressed the need for senior residences as a maturing community looks to downsize.

“With an aging population, the demand for senior-friendly residences is rising,” Sharma said in an emailed statement.

“We know folks often prefer to remain in the neighbourhood where their family and friends are and close to the amenities they are familiar with.

“The addition of new housing in the north is always a good thing. And the key is providing options, both for those who grew up in the area, raised their families and are now on to the next phase of life, and also others who may want to move here and experience what the neighbourhood has to offer.”

Sharma said it’s essential to offer various housing options within the community, especially for those who may have specific accessibility needs.

While independent living options exist in the Old Kildonan ward, availability has largely dried up, leaving seniors with a choice to enrol into assisted living or stay at home where the upkeep can become burdensome, observers say.

“(The idea) came when I had quite a few of my friends that were 50-plus say they wanted condos,” Gauthier said.

“A lot of them said, ‘Hey, if we could get an apartment that was a nice size for 50-plus — we don’t want the kids running in the hallways no more, we’re fed up with that. We want to have an association where we can play cards, where we can have parties, where we can do all kinds of things.’

“That kind of got us in the mood.”

The name of his new build doesn’t hold the same weight as the first, but Gauthier believes the Prestige fits due to the structure’s finer details.

More than 100 interested occupants viewed the complex during the open house period this summer. Of those, 35 pre-leased a suite.

Gauthier estimated it would take about six months to fill every unit as tenants sell homes or terminate existing leases.

He said he’s not worried about the interest that exists for a senior residence in north Winnipeg.

“I’ve been born and raised in Winnipeg and I know there’s a lot of money in this end of town. Old money,” he said. “So, we don’t think we’re going to have a problem renting it.

“It’s going to take some time, but that’s normal.”

joshua.frey-sam@freepress.mb.ca