WINNIPEG 鈥� The Manitoba M茅tis Federation is finalizing the purchase of two more office buildings and a parking lot in the heart of downtown Winnipeg.
The buildings are near the major intersection of Portage Avenue and Main Street, where the federation bought a former Bank of Montreal building in 2020.
Federation president David Chartrand says it's part of a plan to revitalize downtown Winnipeg, which has seen office vacancy rates rise since the start of the COVID-19 pandemic.
Chartrand would not reveal how much the federation is paying but says it's less than the estimated $140 million it would cost to construct new buildings.
He says the federation plans to bring 160 employees downtown from other areas, in addition to staff already downtown.
Chartrand, who has been president since 1997, also says he will work to attract new tenants for the office space.
"Throughout my political career, I've made a lot of good friends, a lot of business acquaintances," Chartrand said Thursday.
"We're looking at getting the message out there that 鈥� this downtown is available for business."
Artis REIT, the real estate trust that is selling the properties, said it's happy to see the transaction going through.
"We need more organizations to step up the way that the MMF has done and continues to do, by not only occupying more space, but bringing more people downtown to support the local economy," said Artis REIT president and CEO Samir Manji.
This report by The Canadian Press was first published July 18, 2024.
The Canadian Press
