Winnipeg container condo remains up in the air

This article is an update to a Property Biz Canada story titled 'Winnipeg close to having its first shipping container condo ' published on February 14th. It describes various roadblocks facing the developer and its multi-family housing project in Winnipeg.
Things aren’t looking quite as bright for Winnipeg’s proposed multi-housing project built out of recycled shipping containers.
The 18-unit condo Nightingale 956 complex, slated for a residential lot at 956 Notre Dame Ave., appears to be running into a financial roadblock.
“I think that they’re in for a challenge,” Winnipeg condo specialist Bill Thiessen says of the proposed project west of downtown. “(Toronto business coach/developer Tali Zhiubritskaya) told me that they needed an 80 per cent pre-sale to build it. That’s really high by Winnipeg standards.
Usually you need 20. 30, 40, 50 per cent to pre-sell then they’ll give you the money to start your construction. They have to pre-sell with drawings, brochures and whatnot 16 of the 18 units. That’s a big challenge.
“Winnipeg is a city where people want to be able to touch something before they buy it. To basically sell it out before you even make a hole in the ground is not as common here. I think they’re up against it. I think it’s possible, but one issue they face is this is not a typical address for condo development . . .it’s not in the Exchange District proper or right downtown.”
Zhiubritskaya had already received the go-ahead from Winnipeg’s City Centre community committee and was hopeful of receiving the green light from city's executive policy committee and city council this month. The West End property has been in the Zhiubritskaya family for more than 80 years.
“We're very, very excited,” Zhiubritskaya earlier told the Winnipeg Free Press. “We've passed our first hurdle and we got a really great response and acceptance of what we're hoping to achieve.”
Despite the fact noted Winnipeg architect David Penner is involved in the project, Thiessen is not optimistic.
“It’s possible, but if I were to put a percentage on it (being built), I would probably say 20 per cent or something,” he says.







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