Known as “the Gateway to the West”, Winnipeg is a multicultural city with a diverse economy serving approximately 800,000 residents and counting. Like all major Canadian cities, Winnipeg has faced some interesting rental dynamics recently due to increased immigration that has put added pressure on the housing supply. That, coupled with exorbitant interest rates preventing would-be buyers from purchasing homes, has led to rental vacancies plummeting to their lowest rates in over a decade.
But change is on the horizon. Driven in part by millions of dollars from the Federal Housing Accelerator Fund, multifamily projects near transit corridors have become a priority for the city—and Carrington Real Estate is one of the key players leading the charge on the purpose-built rental front.
25 Station Place: Phase 1
Located at Station Place and Rathgar Avenue in the district of Fort Rouge, a new 16-storey apartment tower is underway amid an expansive mixed-use development, known as 25 Station Place. Plans for Phase 1 of Carrington’s flagship property include a state-of-the-art geothermal heating and cooling system that will exceed national standard by approximately 40 per cent, a host of on-site amenities, direct access to 3,000+ square feet of commercial space and a new rapid transit hub station.
“This transit-oriented development is a milestone for our company,” said Jared Carrington, President of Carrington Real Estate, at the ground-breaking ceremony in June. “Not only does Station Place exceed the national energy standard by a significant margin, but this stunning apartment complex will also be built entirely with pre-cast concrete panels.”
Carrington’s first rental project was a 16-unit apartment on Henderson Highway, built after the company was established in 2018. Since then, the assets have grown from simple stick-framed, mid-rise construction projects to high-density, multifamily developments with investors. The portfolio has evolved in both size and sophistication, and the new “STNP01” rental tower aims to set the benchmark for all future purpose-built rental developments in Winnipeg.
According to Sam Goszer, Carrington’s business partner, CEO of Carrington Real Estate and lawyer, the project takes into account new, cutting-edge designs, building trends and living technologies that will provide an exceptional experience for future tenants—and central to it all is the new Jubilee rapid transit station that is certain to attract a broad mix of residents.
“Our demographic is really just people who want to move seamlessly downtown to work, to the University of Winnipeg’s Red River campus or head the other way towards University of Manitoba,” he said. “That’s kind of our target demo. It’s going to be an upper-scale rental development that offers a uniquely urban experience.”
Energy performance goals
The project also aims to attract tenants who prioritize sustainability and the environment. From construction through to completion, great emphasis will be placed on energy efficiency and reduction of green house gas emissions.
“Our goal is to exceed the national energy code by 40 per cent—which isn’t an easy feat given our climate and other challenges,” Goszer said. “We have located this property, and others within our development pipeline, on the rapid transit line to make for convenient commuting for our tenant base. We want to reduce our green house gas emissions, and we want our tenants to be able to reduce their emissions, while simultaneously allowing our tenants to reduce their cost of living by way of easy access to rapid transit and a slew of amenities in this community. We want more of our buildings to move toward net-zero—which is a longer-term goal for us—and we are hoping that is something our tenants want to participate in, making for a greener more sustainable and vibrant communities.”
A key sustainability piece driving the STNP01 project is the geothermal heating and cooling system, which essentially draws energy from the earth to warm or cool the air of a building. Considered one of the most environmentally safe methods today, Carrington said the state-of-the-art system has been embedded into the plan since the beginning.
“It basically draws energy from the ground, which is a static temperature year-round,” he explained. “That air then travels up though our heat pumps and is converted to heat or air-conditioning. The system was part of the masterplan created by the land developer that we purchased the property from. It was an attractive feature for us in that it allowed us to work with our architects and reach, if not exceed, our energy efficiency targets. It would have been very difficult to do that otherwise.”
Amenities a-plenty
With a completion date set for summer 2026 and construction currently on track to meet that target, future tenants can expect a slew of impressive amenities in the building and surrounding community, which Carrington and other neighbouring developers have dubbed “mid-town”. From party rooms to coffee shops, to lifestyle-oriented services and a parkade, a broad mix of commercial offerings will keep residents busy and entertained, while attracting visitors to the transit-accessible area.
In the meantime, the Carrington team has its eye on the future with the second phase of development, a 20+ storey tower that’s set to break ground a year from now.
“Transit-oriented, high-rise buildings are exactly what Winnipeg needs for various reasons,” he said. “But none are more important than energy efficiency and improving our city’s vibrancy. On all fronts, Carrington Real Estate plans to be there to deliver.”
For more info, visit www.carringtonholdings.ca
Project facts & milestones
Construction: March 2024 – Summer 2026
Location: 250 Station Place, steps from the Jubilee rapid transit station
Units: 150+ consisting of a variety of sizes and layouts in both multi-level and single-storey townhomes
Developer: Winnipeg-based Carrington Real Estate
Architect: MMP Architects
