Winnipeg in 2025

Many large projects are slated to begin in 2025 across Winnipeg head to next phase in the new year. This comes at the same time as city council has indicated they have drained the rainy day fund and are in the hole for next year. The threat of tariffs by Donald Trump will certainly spook many export related businesses in the city and beyond. Is it a negotiation tactic or will there may be some painful times coming?

The election of Donald Trump who takes office in 2025 could have huge influence on how well Canada does and by extension Winnipeg. A tariff war could hurt Winnipeg which is geared for exports. There is a promise by the Conservative to cut the $122 million accelerator housing program funded by the federal government and awarded by the city if they get in office. It has attracted huge interest across the country and housing projects are starting in the new year or are under way. But does it stop after next year?

Portage Place is now fully in True North's hands and signals the largest investment in downtown in a generation. The new Pan Am Clinic will be the best health clinic of its kind in Canada when completed. And just like Grant Park will be busy seven days a week.  And it is this type of activity which is needed centrally in Winnipeg. Grant Park is along a bus route that is not nearly as well used as Portage Avenue.

Portage and Main, for better or worse, is under construction as it ends the days of the Concourse. The first section is around the former Bank of Montreal where the Metis are building offices and a museum. This section along East Portage could look quite different in 2025. If the museum attracts the tourism that is expected, this could result in a lot of surface foot traffic.

The Manitoba Metis Federation is not the only indigenous group with big downtown plans. The MMF will be working on the Bank of Montreal museum but also absorbing their office building purchases along Main Street. Meanwhile, the Southern Chiefs Organization will continue their work on converting the down Bay into offices and housing with the $200 million budget they have. The only problem is that their chief has been replaced and it is still unknown how it might affect the schedule or direction of the work. The SCO really needs to make clear what is happening.

In the southern party of the city, the long awaited University of Manitoba acquired lands of the Southwood Golf Club. It has been a painfully slow period of development. The housing needs of students on campus remain a concern and yet nothing announced these last years. Construction was to start this year but so far no announcements have been made. The expected 10,000 units of residential units over the next decades is estimated to cost around $6 billion. It will transform the area with 12 million square feet of development. 

We should see some announcements in 2025 as it is likely the demand in this area will be immense. It is odd that the smaller University of Winnipeg that doesn't have the large land gift U of M has next to it has not seen as much housing as the University of Winnipeg. 

The University of Winnipeg has been the most consistent builder of apartments in the downtown in recent years. The above picture shows another apartment town amidst a bunch that the University has built in earlier years. They don't seem to be slowing down which is good as they are building today's and tomorrow's neighbourhoods.

There are several other areas of the city that should show physical growth in terms of retail and residential. Very few offices are being built. The post pandemic world means more people work from home. It might be a while before we see another office tower go up. As far as business investments go, we are seeing many manufacturers gear up although many in Manitoba will be wary on Trump tariffs. It seems the sustainability of growth in Winnipeg and Manitoba will depend on that.