Paragon Living puts core values on display in Portage Avenue, Osborne Village apartment blocks

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This article was published 10/12/2024 (323 days ago), so information in it may no longer be current.

Nigel Furgus remembers growing up in a 600-square-foot home he shared with four family members.

“Housing (was) always a challenge for my family,” said Furgus, who emigrated from Trinidad when he was six years old.

That’s why affordable housing is top of mind for the president and co-founder of Paragon Living, a Winnipeg company that specializes in real estate development, property management and the construction of rental apartments it describes as “affordable luxury living.”

The business celebrated the grand opening of two new developments Tuesday.

The Parkbridge, at 2140 Portage Ave., includes 83 units and started welcoming residents Dec. 1.

The second building, located in Osborne Village, at 333 Wardlaw Ave., has 55 units and is set to welcome its first residents in February.

In each development, 10 per cent of the units will be leased at rates of $1,100 per month as part of Paragon’s efforts to respond to the need for affordable housing in Winnipeg.

The Canada Mortgage and Housing Corp. defines affordable as a household spending less than 30 per cent of its income on rent.

“I think there’s multiple definitions (of affordable), but as long as you can hit 70 per cent or 80 per cent of MMR, which is the median market rent, I believe that that’s affordable,” Furgus said.

“We really try to bring above-market finish for below-market rates. It’s just what our company is built on.”

The Parkbridge sits on the Assiniboine River and overlooks Assiniboine Park. The high-efficiency, pet-friendly building offers one- and two-bedroom units. Residents have access to free water, free high-speed internet, a fitness facility and designer finishings.

About 80 per cent of the units have been leased so far.

Meanwhile, 333 Wardlaw boasts one-, two- and three-bedroom units along with underground parking. The building is located a three-minute walk from Harkness Transit station.

During the grand opening celebration, held across the street from the Parkbridge at Silver Heights Restaurant, Furgus told attendees Paragon aimed to minimize waste, maximize efficiency and deliver homes that would enrich the city’s landscape.

“These buildings reflect more than just bricks and mortar,” he said. “They represent core values: sustainability, affordability and innovation. That’s what Paragon is.”

Mayor Scott Gillingham, who lives two blocks away from the Parkbridge, said he has been watching the building rise throughout the construction process and is thrilled to see it completed.

“The Parkbridge … represents a vision where housing in Winnipeg can be and should be innovative, sustainable and accessible,” he said Tuesday.

“Building more housing along transportation routes was a key commitment in my election campaign two years ago and projects like this perfectly align with that vision. They connect neighbourhoods and offer Winnipeggers high quality, affordable living options in areas with easy access to transit and local amenities.”

Silver Heights Restaurant owner Tony Swiecki has lived in the St. James neighbourhood his entire life and said prior to the Parkbridge, he can’t remember a new residential development going up in all of that time.

“This isn’t just a building — this is a place where new stories will begin,” he said of the Parkbridge.

“Neighbours will meet, families will start, the community will grow stronger. This addition will bring new faces to our community, new energy, new opportunities to our area.”

Local businesses like his stand to benefit, Siwicki added.

Paragon is touting the Parkbridge as the first multi-family residential development along Portage Avenue in more than 30 years.

Paragon Living currently has $600 million in residential projects under development. Furgus said 10 to 25 per cent of those units will qualify as affordable housing.

“I just see this affordability crisis in housing … and I always want to be a part of (the) solution,” he said.

aaron.epp@freepress.mb.ca