Even with many apartments being built in the last few years we have had several places closed for various reasons such as fires, engineering reasons and the like. The Parkview at 440 Edmonton was a personal care home right off Central Park that had deteriorated so bad that it was better to close it than keep it open in the pandemic.
Central Park had being seeing improvements a few years ago but has once again fallen into a slump. Security is an issue everywhere as addiction creates desperation and unsafe atmospheres. There is no shortage of apartments in the area but affordable places are hard to find. The Parkview will now be home to 180 units of transitional and social housing. The 13 storey apartment has been empty since 2022. The new owner is the University of Winnipeg Community Renewal Corporation 2.0 which has had a lot of success building apartments downtown.
All around the Winnipeg Art Gallery are University of Winnipeg housing complexes. This is a complete change from the 1980s when the university washed their hands of their men's and women's residences and turned them into faculty use. The feeling is students didn't need university built housing. It was a terrible mistake but back then the U of W didn't have two pennies to rub together. How things have changed. If only the University of Manitoba did the same. The Fort Garry campus has done not very much despite having the land to do it. They have a huge swath of land where the Southwood Golf Club was. Perhaps in 2025 work will begin on the land they bought there.
An empty lot at 225 King Street and 231 Princess Street will become 54 apartments downtown. There has been significant housing built around here in last several years. Just down the street from there an open lot will be made into 128 apartments.
Around the art gallery at 530 St. Mary Avenue and at 252 Good Street will go 165 apartments and 50 apartments of affordable housing. And at 125 Garry Street, nearly empty building will be turned into 126 units of apartments.
Still, it is a lot of empty buildings and surface parking lots that will become housing. The Manitoba government has committed to a $10 million fund with with Business Council of Manitoba. This commitment echoes the important conclusion in the much shared Foundations UK essay about what is needed to get Britain out of its stagnant economy. The argument equally applies to Canada and by extension Manitoba. The idea is that business leverages what government does. Investment is the key for housing, infrastructure and energy. And government can't do that by itself.
Private investment has to drive growth and clearly, it has taken a NDP government to do that. The federal government has only recently gotten back into getting housing infrastructure built. They had been involved in the 1970s but the provinces pushed them out. The provinces themselves used their transfer payments for others areas such as tax cuts. The aging housing infrastructure and lack of new buildings has stretched into years. And the housing built was not the right housing as it was not near transportation routes, had not enough bedrooms and so on.
Public investment needs to be focused on what gets housing built and not just one kind of housing. Capacity helps keep prices down but government seems to have lost focus and people start to think of there houses as an investment that beats the market and helps fund fabulous wealth in the future. This ignores the fact that people need need places to live after they sell their houses and will have to rent or buy in a high priced market. For some they can't sell because there is nothing to buy.
The government should only be concerned about capacity. If they try to help home owners achieve huge wealth through property, it will only backfire as it is still a market. As seen in the U.S,. cycles will tank property prices around every ten years. Canada has avoided this mostly by better banking and federal mortgage rules. However, it is not immune from it and house prices have reaches inflated heights and are already starting to lower. The question is whether rate cuts will start to raise prices way up again.
Building capacity is the one thing the government can do. It means financial supports to builders, zoning adjustments that don't force builders to build cars spaces or limit height onerously, that don't skimp on safety but drop rules that are a hundred years old and unnecessary, to help landlords and homeowners upgrade to energy efficient appliances and insulation and to infill vacant land and convert vacant buildings or demolish them for housing.
The city, the province and the Feds all seem geared to work on the housing crisis. It remains to be seen whether they stay focused on it. Too often it is one of the things cut by governments and it has become obvious that private business alone can't solve this. In Winnipeg, the people living on the riverbanks is an indication that we don't have the right type of housing. Zero vacancy affects everyone. It will remain one of the top priorities for Canadians. It should be the same for government.
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