Downtown Buzz News from the Downtown Winnipeg Business Improvement Zone


Downtown Hudson’s Bay revitalization Giving The Hudson’s Bay Building Its Second Lifeline Downtown


Stefano Grande T


he revitalization of the downtown Hudson’s Bay building is a tough nut to crack. It’s big, it’s old and obsolete, and built in an era in which retail was the


downtown. Retail in Winnipeg is now scattered through- out, in big box stores and large shopping centres, and in places where residential growth has been redirected – in the suburbs. Today, downtown retail primarily serves office workers


and local residents and large spaces like Hudson’s Bay cannot function like it did in the mid-1900s. As a result, its 800,000 sq. ft. space has been scaled down. Hudson’s Bay continues to work on reinventing itself to


remain current for today’s savvy shopper and the manage- ment team at the downtown location has put a lot of effort into utilizing the space in different ways. Although these great things are happening, we still need to continue to support this iconic retailer in their current location. Many people look to the Hudson’s Bay building as Win-


nipeg’s historical gem and it needs to be preserved for many good reasons. Without an archive of our history, our City would be soulless. Imagine our City without the Downtown and the Exchange District and its repertoire of heritage buildings. So what can we do? What can be done to give this incred-


ible and beautiful historical building a second lifeline? If the Hudson’s Bay building was demolished, I am quite


certain that a surface parking lot would generate a ton of cash for its owners. It would be filled during the day, but it would be a large wasteland in the evening. Perhaps if this happened, decades from now, the Hudson’s Bay building could be transformed into a series of ramps to park five floors of free parking. Tat’s certain to bring more people downtown – to do something. Realistically, the only solution is to redevelop it but this


is a formidable task. Te Hudson’s Bay building would cost hundreds of millions of dollars to renovate into of- fice, residential, or smaller commercial spaces. Number crunchers will tell you that not many businesses would be willing to pay $50 per square foot, when across the street, spaces are half the cost. It’s also unlikely that Winnipeggers would shell out $600,000 for a 900 square foot condo with no parking, when a more affordable unit could be found in Tuxedo or Waterfront Drive, even though they may find personal value in being part of an ongoing legacy of this unique building. Te numbers just don’t work. A property tax freeze over a long period of time could


The Hudson Bay building on Portage has so much potential, but who has the vision to revitalize it?


generate $40-50 million in incentives for developers, but it may not be enough to make the redevelopment financially viable. Te idling that has happened for over a decade now, continues forward. Tis is a task for our development community, to play a


role and to invest. As they patiently wait, they will reap the benefits in several decades. Government can play a role in providing special tax breaks on all construction materials and services purchased for this task. Manitoba Hydro can provide its loans to retrofit the building to Power Smart standards. Freezing property taxes and/or blending tax incentives with traditional financing could help lower the carrying costs of the project for the developer. All of these actions could lead to stronger real estate values around the Hudson’s Bay building, creating lifts in the surrounding


New downtown crosswalk art F


rom June 24th through to the end of summer (or as long as it will last), Downtown Winnipeg BIZ is featur-


ing five Portage Avenue crosswalks with Canada-themed painted artwork. Te BIZ launched this public art installation to celebrate Canada’s 150th Anniversary, and to continue the celebration through to the 2017 Canada Summer Games. Building on the success of many visual


enhancements along downtown’s major streets, each crosswalk design honours the diverse natural landscape of Canada, with themes including a prairie wildflower field, a maple tree forest and a salmon run. Te artwork was achieved with stencils and high-quality road paint, and was installed by an enthusiastic group of Downtown Win- nipeg BIZ and City of Winnipeg employees. Street paintings are now complete at the


following crosswalks: • Portage Avenue @ Balmoral Street • Portage Avenue @ Vaughan Street • Portage Avenue @ Edmonton Street • Portage Avenue @ Donald Street • Portage Avenue @ Fort Street


Crosswalk art across from the UW. Crosswalk art at Vaughan Street.


downtownwinnipegbiz.com (204) 958-4640


info@downtownwinnipegbiz.com 426 Portage Avenue, Winnipeg, MB R3C 0C9 8 Smart Biz www.smartbizwpg.com August 2017


tax base. We have seen what the MTS Centre has done for the surrounding buildings and developments and I believe this could offer the same for our downtown. We must proceed with caution. If incentives are pro-


vided, then the Hudson’s Bay building needs to integrate into a broader vision for the community. Te Hudson’s Bay building will need to appeal to and support the residents and business owners who have invested millions into the neighbourhood, while being attractive to the students and visitors who frequent our downtown. Let’s revitalize the Hudson’s Bay building based on the


vision of our community, by the community. Let developers show everyone how they can play a role in the revitaliza- tion. Tis is the only solution unless knocking it down is what Winnipeg truly wants.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16