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December 11, 2013

University of Winnipeg building an apartment complex

The Manitoba government and the University of Winnipeg are partnering to build a 14-storey apartment complex in the heart of downtown Winnipeg.

The 112,000-square-foot building will be located near the intersection of Portage Avenue and Memorial Boulevard, between the Buhler Centre and the Winnipeg Art Gallery across from The Hudson’s Bay.

It will contain 102 apartments, ranging from one to three bedrooms. Forty-six apartments will have affordable rents for lower-income people, with 32 being offered on a rent-geared-to-income basis.

The remaining 56 will be offered at market rents, 16 of which will be considered premium units.

Construction is scheduled to begin in the spring of 2014 and the project is estimated to be completed in the fall of 2015.

The University of Winnipeg Community Renewal Corp. will be the project developer and will provide property management services. LM Architectural Group will design the building, which is expected to cost $27 million. The Manitoba government is supporting the project with a loan guarantee and it will be fully self-financed. It will be eligible for tax increment financing and PST tax credits associated with apartments including affordable units.

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