True North Square

The True North Square continues to develop. The TDS law firm is already in place with three floors occupied and MNP accounting and Scotiabank are ready to go. Ceridian has announced they are moving their 200 payroll people into 242 Hargrave as well. This would constitute over 50 per cent leased and more coming.

The office building that lost the most at 360 Main Street (formerly Trizec but now sporting a TD Bank logo) has picked up Wellington Altus financial services, BDO accounting and IGM part of Investors Group. Taylor McCaffrey is moving to 201 Portage (former TD/Canwest building).

It means gaps in other buildings but the growth in e-commerce is filling space here and there and landlords are upgrading buildings to fit the needs of tenants looking to re-locate or expand.  The second office tower of of the True North development appears to be going through finishing touches inside.

Meanwhile, the True North Square has hosted one event for the Winnipeg Jets. First impressions are that it probably will serve for some street party and other events but will be reserved for sponsors and special events. The street parties simply have too many people and Donald Street is likely to remain most suited.

The overpasses and second floor area seem ideally in support of moving people around and supporting local tenants. While the towers do have underground parking, those coming for BellMTS events will be approaching from every direction. Everyone should keep in mind that the ground being built on has been a parking lot for decades.

The final component to the four towers built is the Sutton Place Hotel and condo complex. They will complete the True North development. The hotel itself will probably leapfrog to become the most top rated hotel in downtown Winnipeg and possibly home to visiting NHL teams when they play in the city. It will also be another support for the expanded RBC Winnipeg Convention Centre.

Once all the work is completed in next 18 months or so, it is likely we'll see a lull as Winnipeg's business community settles into their new places with some exceptions. The stalled and probably dead Skycity development sits on some choice land. The site across from the Canadian Human Rights Museum will probably also have an announcement soon.

Could this be the year the Winnipeg Jets celebrate their biggest victory on the streets and square surrounding bring tens of thousands of fans downtown? Here's hoping.