New Housing Developments Near Whyte Ridge Real Estate

If you’re thinking of selling Whyte Ridge real estate, now could be an opportune time to list. Winnipeg is set to have numerous housing developments break ground in the months to come. From multi-story apartments to an entire university town, there is lots to get excited about for the future of Winnipeg real estate. Despite less than favourable economic conditions, the housing and property sectors in Winnipeg have remained steady. This combined with the fact that the federal government will be providing Winnipeg with $122M from the Housing Accelerator Fund, makes it a promising time for new developments. In this article, we will be going over some of the most exciting real estate projects underway in Winnipeg. Follow along below to learn more!

What’s Being Developed Near Whyte Ridge Real Estate

One of the newest developments in Winnipeg that has already commenced construction, is a project called Market Lands. This mixed-use project is being built at the site of the former Public Safety Building in the Exchange District. The project is being developed with a variety of incomes in mind and is anticipated to have a net zero energy consumption. Market Lands will be a 10-storey building that will offer 102 apartment units, ranging from studios to two bedrooms. Furthermore, the 52 income-tested units will be rented out at 59% of CMHC Median Market Rent for the neighbourhood.

Another new development that could be seen in the months to come is the renovation of Portage Place. It’s been a long time coming for Portage Place to get a makeover. As one of Winnipeg’s key shopping destinations, the new Portage Place would enhance the appeal of Downtown Winnipeg. As of right now, the sale of the building has not been finalized by the developers. However, if it goes through, the redevelopment would include several new amenities and services. For example, a full-size grocery store, apartment living spaces, health centres, green areas, and community services.

Following the potential renovation of Portage Place, Winnipeggers can also look forward to the transformation of the historic Hudson’s Bay Company heritage building. The Downtown Winnipeg building is set to undergo changes following the Southern Chiefs’ Organization’s project announcement. This multi-million dollar development will revitalize the HBC building by preserving its heritage and helping to create housing and employment opportunities. In addition to this, the building will have over 300 affordable housing units for families and post-secondary students. Moreover, there will be culturally safe assisted living facilities for First Nation elders. Other amenities include a museum, gallery, restaurants, rooftop garden, health centre, and Governance House for the SCO.

Other Developments to Keep an Eye On

One of the biggest projects soon to be put into motion is called Southwood Circle. This development will be the equivalent of a university town, predicted to be home to roughly 20,000 residents. Developers of Southwood Circle are keen to make this city within a city sustainable. This is being accomplished by having more transit routes than roads, doubling the statutory parkland requirement, and focusing on smart housing design. The minuscule city is being constructed on the site of an old golf course near the University of Manitoba. Project experts are hopeful that the success of this project will turn the neighbourhood into a worthwhile destination. Currently, plans for Southwood include 11,000 residences, 300,000 sq. ft designated for retail, and expansive parklands. Southwood will be developed in four phases over the next two decades, with construction beginning this year.

Finally on our list of projects, is the Colony. Aptly named, this building will be located on Colony Street in the heart of Downtown Winnipeg. Residents of Winnipeg will be excited to know that this building is mixed-use and mixed-income. At 21-storeys high, the Colony will be home to 214 apartments and four commercial spaces on the ground floor. 86 of these units will be designated as affordable living spaces. Apartments will differ from studios to two-bedroom units. Similar to the Market Lands, the Colony is also aiming for near-net zero greenhouse gas emissions. Buyers will be happy to know that this project is nearing its completion date of winter 2025.

Contact us Today!

There are lots of exciting new developments in the works in Winnipeg! If you’re looking to sell Whyte Ridge real estate and move into something new, it’s important to get in touch with an experienced agent! As your REALTORS®, we are committed to providing you with the best services possible. If you have any other questions about why your home may not be selling as fast as you’d hoped, contact us today! We’d be happy to help support you through your real estate journey. Please feel free to reach out with any additional questions or concerns. Be sure to check out our social media for the latest updates and more. We look forward to working with you in the near future!