What is the asking price for 634 Portage Avenue?

The lease rate for space here is Contact for pricing.

What is the total size of 634 Portage Avenue?

The total area of 634 Portage Avenue is 0.8 Acre.

How many parking spaces are available at 634 Portage Avenue?

Parking information for the property isn't currently listed. However, other nearby parking options include Impark, located 0.73 miles away , and Indigo, which is 0.82 miles away.

634 Portage Avenue, Winnipeg, MB R3C 2A9

For Sale $6,500,000
Property Type Land - Residential (land)
Property Size 34,848 SF
Date Updated Sep 8, 2025

Description

Prime Mixed-Use Development Opportunity - Asking $6,500,000

On behalf of 10049896 Manitoba Inc. (the “Vendor”), P3 Realty is pleased to present a rare, shovel-ready opportunity to deliver a landmark mixed-use rental development in the heart of Winnipeg. Fully rezoned and entitled with all required variances in place, the site is approved for a 21-storey apartment tower and up to 30 storeys.

Strategically located directly adjacent to the western border of the University of Winnipeg campus, 634 Portage will serve as a new gateway to Winnipeg’s central business district within a rapidly transforming trade area demanding a higher rental standard. This premium urban infill site offers tenants convenient access to key employment hubs in business, education, and healthcare, while positioning retailers and service providers within a growing residential community.

With a proposed design featuring a 21-storey, 374-unit purpose-built rental building, ±6,000 SF of main floor commercial space, and a ±75-stall parkade, the project represents a turnkey opportunity to capitalize on Winnipeg’s strong demand for modern rental housing and vibrant mixed-use development.

DATA ROOM - Additional project information is available via data room upon receipt of a signed confidentiality agreement.

The property is being offered for sale with offers reviewed as received. Interested parties are encouraged to submit their proposals promptly, as the Vendor reserves the right to accept an offer at any time without further notice.

Highlights

Shovel-Ready Approval – Fully rezoned with all required variances in place for up to 30 storeys.
Prime Central Location – High-profile Portage Avenue address with direct connectivity to downtown, University of Winnipeg, Health Sciences Centre, and the vibrant Wolseley neighbourhood.
Unparalleled Accessibility – Exceptional Walk Score (95) and Transit Score (90), with major bus routes connecting to CF Polo Park, University of Manitoba, and other key destinations.
Strong Tenant Demand Drivers – Proximity to 25% of Winnipeg’s workforce downtown, 8,000+ Health Sciences Centre staff, 1,500+ daily hospital patients, and 9,400+ university students.
Rare Infill Opportunity – Less than 2% of rental stock in the surrounding trade area has been built in the last 20 years.
Identified as Key Site for Affordable Housing offering Potential Government Support – Opportunity to access housing grants that may finance portions of the project, reducing required equity.
Zoned RMU - Residential Mixed Use