Two redevelopment projects in downtown Winnipeg set to work together

Two separate major downtown revitalization projects joined forces to work together in a bid to spur both social and economic development in Winnipeg’s core. 

True North Real Estate Development (TNRED), which is behind the redevelopment of Portage Place, and the Southern Chiefs’ Organization (SCO), which is behind the redevelopment of the Hudson’s Bay building, agreed to work together.

The partnership will see the two organizations collaborate on bringing multi-family and affordable housing, health care, food security, and advancing reconciliation to Winnipeg’s downtown.

“We are connecting the north and south of downtown Winnipeg to unite our citizens,” said SCO Grand Chief Jerry Daniels.

TNRED recently asked the City of Winnipeg for a six-month extension regarding a decision on if they would buy Portage Place, with that request being granted.

“With these projects as a backdrop, both of our organizations have committed to advancing social, political, and economic partnerships intended to reverse the current downward trajectory we are experiencing in Winnipeg’s downtown,” said Jim Ludlow, president of True North Real Estate Development.

“It’s way too big, way too cumbersome, others have tried and failed, way too much brain damage and if I take this for this time, our group will definitely think I’m crazy. So, here we are.”

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TNRED announced in March it was looking to redevelop Portage Place after Starlight Investments halted their plans to redevelop the space.

True North’s plan includes over 200 housing units at Portage Place, with a goal to make half of those units into affordable housing.

“What I’m hearing from people in the community is there’s a need for deeply affordable housing all across our city,” said Winnipeg Mayor Scott Gillingham. “When we look at the challenges that we have right now, with too many people struggling on our streets, there’s a need for housing that could be available with wraparound supports.”

It was announced in 2022 that the SCO would develop the Hudson’s Bay building. That plan included close to 300 affordable housing units, a museum, and a health centre.

Daniels says not that much has changed yet, aside from some food aspects, when it comes to what would be included in the redevelopment of the Hudson’s Bay building.

“We see a potential, a downtown that can be a commercial and economic hub and a place people are proud to work, play and call home,” he said.

Daniels says preparation is underway for the Bay building to undergo a major demolition, while Ludlow says True North is aiming for demolition to begin in 2024 with a project delivered by 2027.

The overall cost of the project is pegged at nearly $850 million, with the Portage Place redevelopment costing about $650 million and the Bay building’s redevelopment at $200 million.

“What we are seeing right now is the collaboration that we’ve been wanting for years,” said Kate Fensek, CEO of Downtown Winnipeg Biz. “You have decision makers, Indigenous organizations and the private sector working together.”