At Portage and Main, the MMF has taken over the former Bank of Montreal as well as BellMTS two office buildings at 333 Main and the parking lots behind them on Pioneer. Further down Main Street, the former Wawanesa headquarters at 200 Main and 165 Fort Street and their parking lots are filled with MMF workers as well.
The MMF is listed as having around 1,200 employees. Some of them are in rented offices elsewhere so the Metis have been looking to consolidate and invest in property. With that in mind, they have had their eyes on available properties in downtown Winnipeg for a while. Nearly no one wants to sell their surface parking lot cash cows so MMF has had to wait for companies looking to downsize and move or in the case of Wawanesa, consolidate to one headquarters. Hoarding parking spaces is a 70 year Winnipeg tradition.
Lloyd Axworthy as a cabinet minister in the 1980s, tried hard to bring development to downtown Winnipeg. To that end, he brought the National Research Council facility to the former St. Paul's College site and just as about to me complete the new Conservative government under Brian Mulroney cut it. The building, complete in 1985, sat empty for years till the Mulroney government started adding some labs in 1992. This was largely in response to the outright disgust in the west about the CF-18 contract going to Quebec, despite Winnipeg's Bristol Aerospace having the lower price and higher technical rating. The Institute of Biodiagnostics was born.
Strange, when you let scientists do research in applied areas, they actually can make great advances. Amazing research created world class discovery in MRIs. Bu 2005, so much progress was made that a second office was built of 40,000 square feet to create about a combined 230,000 square feet. It is a very modern campus overall.
Nothing much happened until once again Axworthy was a cabinet minister. However, as soon Stephen Harper, the program was cut, 54 workers fired and the buildings put up for sale. This led to the problem with the MMF. When federal land goes up for sale, it has to go up for sale to First Nation and Metis to settle outstanding land claims. It is unclear what happened but Covid probably had the Feds thinking they needed the buildings. Ultimately, they didn't, especially with a new NRC facility near the airport. Labs and workers still can make use of the building but no reason why they can't lease space in what is largely empty floors now.
So after seven years of legal wrangles, the Manitoba Metis Federation have the building and will be bringing 100 staff from their Child and Family Services unit at 2000 Portage Avenue near Deer Lodge to Ellice. As for the 70 labs, the MMF wants to begin a nurse training program there as well as an MRI. This story is worth a followup later on.
It is hard to assess the MMF's overall governance and planning. It appears they have times the market right. They do have employees in support agencies like training and child and family services who need office space. Income generation through owning parking lots if well established in Canada. They are building apartment space and being a landlord is well established at generation income. The MMF is looking at buying the Fort Garry Hotel. I'll write more on that at some point.
The MMF is not the first to create a business conglomerate. Some have been created and failed while others continue to offer supports to their community. real estate should have some lasting value. Hotels can be valuable but not upgrades. Ask the Richardsons about that and the Fairmont Hotel. That upgrade is $120 million. The point is that some businesses need capital and good management. And ultimately, a plan. This includes a succession plan. Who takes over when David Chartrand retires?


No comments:
Post a Comment