Housing In Winnipegs Downtown: Issues and Opportunities

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Housing In Winnipegs DowntownIssues and
Opportunities
Presentation for 2008 WHHI Forum Tuesday,
September 9, 2008
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Background on Winnipegs Downtown
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Winnipeg Downtown

• Covers 3.2 km2 of land area representing 0.7 of
  the City of Winnipeg Land Area.
• Currently divided in 2,027 parcels that contain
  9,300 dwelling units, representing 3.4 of the
  Citys dwellings units.
• 13,285 people live Downtown representing 2 of
  the Citys population.
• Downtown is arranged into 11 districts.
• About 71 of Downtown Households Live in
  Buildings Completed in 1980 or Earlier. Almost 20
  percent lived in buildings completed before 1946.
• Downtown support more than 57,000 jobs (Census
  2001) 40 in major office buildings and a
  further 29 in public sector supports 25 of the
  CMA workforce.

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RESIDENTIAL LAND USE LAYER
Source City of Winnipeg (2008)
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Winnipeg Downtown
1
0.4
RESIDENTIAL DWLG DISTRIBUTION
2
2
22
7
16
6
43
1
Source City of Winnipeg (2008)
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Markets Affecting Downtown Housing Stock
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Dwelling Tenure
(645)
(7490)
Downtown housing market is predominantly a rental
market
Source Stats Canada 2006 Census
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Changes in Tenure Downtown 2001-2006
Changes indicate a market for condominium housing
downtown
Source Stats Canada 2006 Census
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Downtown Apartment Universe (9,375 units)
Bulk of the stock serves the rental market,
of Dwelling Units
43
22
16
7
6
2
2
Source 2006 City of Winnipeg- Property
Assessment Dept.
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Private Apartment Average Monthly Rents
Source CMHC Oct 2007
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Profile of Downtown Households
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Downtown Population ( 13,285 persons)
of persons
38
26
14
8
6
5
4
Source 2006 Statistics Canada
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Downtown Household Size
of persons
Source Statistics Canada 2006 Census
14
Downtown Household Type
of persons
Source Statistics Canada 2006 Census
15
Downtown Age Groups
of persons
Aboriginal or Student population
Source Statistics Canada 2006 Census
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Income Distribution of Downtown Winnipeg
Households Larger proportion of low
income households live Downtown
Percentage
Source 2001 Statistics Canada
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Income of Downtown Winnipeg Households
Majority of the Downtown households earn below
25,000
Source 2001 Statistics Canada
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Issues Affecting Downtown Housing
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Support Services / Social Infrastructure
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DOWNTOWN STAKEHOLDERS MANDATE AREA LAYER
Source City of Winnipeg (2008)
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Downtown Winnipeg Zoning By-law
Source City of Winnipeg (2008)
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WINNIPEG DOWNTOWN PARKING LAYER
Source City of Winnipeg (2008)
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HERITAGE DESIGNATION LAYER
Source City of Winnipeg (2008)
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Recreation and Entertainment
25
ENTERTAINMENT, ARTS, CULTURE EDUCATION LAYER
Source City of Winnipeg (2008)
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Vehicular Traffic
Quantity over a 24 hour period (weekly average)
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Streetscape Initiatives
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Commercial Amenities
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Barriers to Increasing Residential Opportunities
Competing Forces
Development Economics
Design and Affordability
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Market Gap of Apartment Development in Downtown
Winnipeg(Assuming an avg. suite size of 800 sq.
ft. land or building acquisition of 10,000 per
unit 180,000 sale price)
Market Gap
Source 2007 Altus Clayton Study
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Projected Demand for Household Growth
FORECAST FOR THE PERIOD OF 2006-2021

• In Winnipeg CMA, 18,250 net new apartment
  households are projected over the 15 year period
  (2006-2021), representing 1/3 of the total
  household growth.
• Downtown is expected to capture between 13.5 to
  22.5 of new apartment households (i.e. 2,500 to
  4,100 units).
• Therefore, the population of Downtown Winnipeg is
  expected to grow by 4,700 to 6,070 persons
  between 2006 and 2021, with an annual growth rate
  ranging between 1.9 to 2.4 per cent.

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Projected Distribution of New Apartment Units
FORECAST FOR THE PERIOD OF 2006-2021
Source City of Winnipeg (2008)