Optimism Is Everywhere
A healthy mix of commercial and industrial projects is in evidence throughout Winnipeg and the surrounding area. Billions of development dollars confirm that Winnipeg’s renaissance is alive and well. Take a look at the list below, and it should become quite obvious that the degree of both public- and private-sector investment signals a tremendously positive outlook for our city.
Perhaps that’s why FDi Magazine named Winnipeg one of the top 10 midsized cities in the Americas for foreign direct investment (FDI) strategy as well as business friendliness
Building Permit Values
Building permit values, which indicate construction costs for new construction, additions and renovations, have historically been strong in Winnipeg. In 2015, building permit activity slowed down but still remains high in comparison to previous years, totaling $1.6 billion. Over the last five years, building permit values have increased by 9.1 per cent per year on average, which is six per cent higher than the national rate and ranked fifth in comparison to other major metropolitan centres.
Winnipeg Building Permit Values by Type from 2005 to 2015 (Thousands of Dollars)
Building Permit Values by Major Metopolitan Area:
Average Annual Per Cent Change from 2010 to 2015
Source: Statistics Canada
Current or Recently Completed Projects
Major Winnipeg investments include the following:
- Canada Goose plans to double its staff in a new 103,000-square-foot facility by early 2017 as it lays the groundwork for a bigger international expansion into the U.S, Europe and eventually China.
- Magellan Aerospace Limited and the University of Manitoba unveiled their new Advanced Satellite Integration Facility (or ASIF) at Magellan’s Winnipeg facility. It supports research, development, construction and testing of satellite systems and components. This expansion was funded by an investment of $3.9 million, which includes $625,000 for the establishment of an Industrial Research Chair.
- Bell MTS completed construction of a $53-million, multi-tenant, 64,000-square-foot commercial data centre in Winnipeg. The new facility is the only custom-built commercial data centre of this size in Manitoba and positions Bell MTS as the leading provider of server co-location, managed hosting and cloud services in Manitoba.
- A new water treatment plant, reservoir and delivery infrastructure for CentrePort Canada—valued at $43 million—is now in place, bringing water services to new businesses. This project improves water services at CentrePort and enhances its attractiveness for future business investment.
- The RBC Convention Centre Winnipeg completed a major expansion, which adds 103,900 square feet of new meeting and convention space to the existing 160,000-square-foot facility. The $180-million investment was shared between the Government of Canada, the Manitoba government and the City of Winnipeg.
- CentrePoint, the first major private commercial development in Winnipeg’s downtown core in many years, opened its doors in 2015. The $130-million project in the nearly one-square-block development includes a 160-room Alt Hotel, a 400-stall parkade, the Winnipeg office of retail software developer iQmetrix and anchor tenant Stantec Consulting Limited.
- Construction has begun on Winnipeg’s first premium fashion-outlet mall. The developer behind the $200-million Outlet Collection Winnipeg mall, Ivanhoé Cambridge, held an official grand opening at the site, which is on the northwest corner of Kenaston Boulevard and Sterling Lyon Parkway (across from the IKEA store). The 400,000-square-foot indoor mall will boast more than 100 stores. Set to open in May 2017, it will be the anchor tenant in the new 117-acre Outlets of Seasons development being built by Regina-based Harvard Development and Forster Projects.
- The University of Manitoba completed construction of its new $59.3-million Active Living Centre. The leading-edge, 100,000-square-foot building combines the benefits of an ultramodern fitness facility with research to encourage healthier lifestyles, build healthier communities and explore solutions to manage and prevent chronic diseases.
- The University of Winnipeg opened its new $27-million student residence in 2016. Forty-six of the 102 rental units are intended to be affordable for students with families attending the university or other post-secondary institutions in the city.
- Red River College’s $60-million Skilled Trades and Technology Centre will welcome its first students in September 2017—about 1,000 of them—in a first-rate facility designed to educate future carpenters, electricians and refrigeration technicians.