WINNIPEG — The tallest tower between Toronto and Calgary is going on the market.
Multiple sources have confirmed to Global News that 201 Portage Avenue — which also has been known as the Canwest Building and the TD Building — will be up for sale.
Creswin Properties has owned the 32-storey tower for well over a decade. A Creswin official referred inquiries about the sale to a commercial real estate company, which refused to comment.
The sale of 201 Portage could mean big changes for downtown Winnipeg.
“Maybe with some new ownership and change of hands, maybe we will see a broad base plan for a fuller redevelopment of that site,” said Jino Distasio, the director of the Institute of Urban Studies at the University of Winnipeg.
Creswin is David Asper’s real estate company. His family was once one of Canada’s most wealthy and one of Winnipeg’s most influential.
The building was once headquarters of the Aspers’ Canwest media empire. Global News, which Canwest sold to Shaw Media in 2010, is a tenant in the building.
“Buildings in Winnipeg are so entrenched with family, names and history, so any time you see that change, it is a changing of the page, a changing of the guard,” said Distasio.
David Asper didn’t respond to Global News’ request for an interview. His siblings, Leonard and Gail, wouldn’t comment on the sale.
“No comment at this point,” said Gail Asper. “If we have anything, we will be in touch.”
201 Portage was built in the late 1980s for just under $40 million. At 128 metres, it’s the tallest building in Winnipeg.
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Commercial real estate experts wouldn’t speculate on how much 201 Portage could sell for.
The 22-storey Manitoba Hydro Place, which opened in 2009 and includes many high-tech energy efficient features, was built for $283 million.
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