A recent article posted by the Winnipeg Free Press reported:
“Developer Private Pension Partners revealed its conceptual plans for the land currently occupied by the defunct Osborne Village Inn (160 Osborne St.), the lot immediately to the east, where the hotel’s former beer vendor stands, and the parking lot to the southeast along Wardlaw Avenue, at a community open house on Jan. 29.”
We were proud to share our exciting plans at the open house, meeting with local residents and interested parties, and to gather feedback from key stakeholders about the future of Osborne Village.
As we stated at the open house, our plans for the new six-storey apartment building and the two four-storey multi-family complexes are in the early stages. The six-storey multi-use, multi-family apartment building will be on 160 Osborne Street and will deliver approximately 100 units. The two four-storey buildings, which are also multi-use and multi-family, would be at 424 and 425 Wardlaw Avenue, with approximately 60 units in each building. Covered and uncovered parking will be available as well as 14,000 square feet of street-level commercial space for development.
Private Pension Partners is still working with the existing owners of the property to finalize the purchase. We will be submitting our application to the City of Winnipeg for rezoning of the property and, following that approval, the purchase will then be closed and our development plans executed on.
As Karl Loepp, our COO of Private Pension Partners stated in the Winnipeg Free Press article, “Our company is a long-term investor in multi-family. We’re not in the business of building and flipping. We like to own and hold for the long term, adding value to our investors, value to the community in that we’re long-term landlords in that neighborhood.”
We’re pleased to know that our plans for the redevelopment of the area have been welcomed by the residents and stakeholders in the area, including Justin Paquin, chair of the Osborne Village Business Improvement Zone.
We look forward to the future and being part of the thriving Osborne Village community and hope to begin construction within the next year.