If you’ve ever wanted to live downtown, close to the hustle and bustle of the city, the next few years will represent a great opportunity.
Since 2010 more than 250 condos have been built or are under construction. And about another 1,000 proposed, including:
D Condos (Assiniboine Ave.): 91 units
Glasshouse Condos (Portage & Donald): 197 units
Four projects, announced in the last year, promise 358 new condos. And that doesn’t include the 42-storey Fortress development on Garry which will add another 300-400 condos–we’re still waiting for more information about that project.
Winnipeg is not alone in adding significantly housing projects in its core:
Edmonton – 1,500 units proposed, 430 completed or under construction
Regina – 135 units under construction 210,556
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Regina is also expecting to add 120,000 feet of office space this year, outpacing the previous 10 years.
On a population-to-new-condo basis, Winnipeg will build them almost as fast as our Alberta counterparts
- Edmonton: Pop. 817,498 – 1,500 condos – 1 per 545 residents
- Winnipeg: Pop. 663,617 – 1,200 condos – 1 per 553 residents
- Regina: Pop. 210,556 – 135 units – 1 per 1,560 residents
If you’ve bought your first home (be it house, townhouse or condo), you know price is a big factor. Both from the perspective of paying the monthly mortgage payment and in getting together a big enough down-payment. So price will be a factor in getting people to move downtown. Lower-costs have a better chance of attracting young urbanites to the area.
Here’s what current developers are planning (and what a 20% down-payment would cost):
Glasshouse Condos – starting at $174,900 ($34,980)
62M Condos (Waterfront Dr.) – starting at $195,000 ($39,000)
D Condos – as low as $280,000 ($56,000)
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