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![\"SHINDICO](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/05\/4208293_web1_The-Market.jpg\")
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SHINDICO RENDERINGS<\/p>\n
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In 2023, Shindico Realty and Cadillac Fairview shared their joint vision for an 84-acre development north of CF Polo Park, which included apartment towers, retail space and parks near the shopping mall.<\/p>\n<\/p>\n
On Thursday, Shindico said the partners will attempt to sell up to 16 acres of a 30-acre portion of the space to attract more developers. The site where Canad Inns Stadium once stood is in the affected portion of the area.<\/p>\n
\u201cWe\u2019ve decided to shift gears and we\u2019re marketing a portion of the site for sale. There will be an opportunity for builders to buy three or four acres of the site (each)\u2026. If we don\u2019t get the price we need to, then we\u2019ll continue owning the entire site,\u201d said Justin Zarnowski, general counsel for Shindico.<\/p>\n
\u201cWe\u2019ve decided to shift gears and we\u2019re marketing a portion of the site for sale.\u201d<\/p>\n
Zarnowski said the development is a lower priority for Cadillac Fairview now.<\/p>\n
\u201cThis isn\u2019t at the top of their list. So, if we\u2019re not going to build on it, the view is we should at least entertain somebody else having the chance to do it,\u201d he said.<\/p>\n
Cadillac Fairview did not respond to requests for comment Thursday.<\/p>\n
Zarnowski said the overall goal to build 3,000 apartments throughout the entire space has not changed. Within the smaller portion of the site, where some land could be sold, he estimates about 1,600 housing units could be built.<\/p>\n
\u201cWe absolutely want to see this happening. It\u2019s why we\u2019re spearheading this different approach to try to kick it off,\u201d he said.<\/p>\n
The developer blames a few key economic challenges for delaying the project since 2023, including skyrocketing construction costs and reduced demand for multi-family housing, largely due to a decline in immigration and international students.<\/p>\n
\u201cAt Polo Park, time killed (the original) deal.\u201d<\/p>\n
Zarnowski was also critical of some early delays in getting city approval for the project.<\/p>\n
In early 2020, municipal staff called on city council to vote against the development proposal over concerns that the site was too close to the airport. At the time, the Winnipeg Airports Authority argued that it would trigger noise complaints, which could put its 24-hour operations at risk.<\/p>\n
In 2021, the provincial government imposed new rules on the city that allowed new homes to be built near the airport, clearing a path for the development.<\/p>\n
Without the noise-related delay, Zarnowski said he believes at least some of the apartments would have been built, with residents living in them by now.<\/p>\n
\u201cAt Polo Park, time killed (the original) deal,\u201d he said.<\/p>\n
Zarnowski said selling part of the land now appears to offer the best potential path forward.<\/p>\n
\n\t\t\t\t\t\t\t\t\t SHINDICO RENDERINGS<\/p>\n
<\/p>\n In 2020, municipal staff urged city council to vote against the proposed development over concerns the site was too close to the airport while the Winnipeg Airports Authority argued it would trigger noise complaints, putting its 24-hour operations at risk.<\/p>\n<\/p>\n On Thursday, Mayor Scott Gillingham noted he has long supported the project and called for changes to let housing be built closer to the airport years ago, when he was the city councillor for St. James.<\/p>\n \u201cThe city is not stopping Shindico from developing that land. If it\u2019s a matter of their co-investor having second thoughts, that\u2019s beyond the city\u2019s control. In the past, maybe, city processes were slower. We have certainly made the changes now,\u201d said Gillingham.<\/p>\n \u201cThe city is not stopping Shindico from developing that land. If it\u2019s a matter of their co-investor having second thoughts, that\u2019s beyond the city\u2019s control.\u201d<\/p>\n Recent city zoning changes should make it easier to build homes near malls and along transportation corridors, since they removed the need for public hearings and other potentially costly and time-consuming city applications, the mayor said.<\/p>\n He\u2019d like to see the new homes built as soon as possible.<\/p>\n \u201cThe Polo Park mall site is a prime opportunity. It\u2019s on main transit corridors. It is underutilized land that could accommodate\u2026 housing at a time where we need more housing,\u201d he said.<\/p>\n Initial plans called for construction of the entire project to wrap up in 2033. Zarnowski said selling part of the site may result in some homes being built sooner, though all of the construction will likely take longer than first expected.<\/p>\n He said it\u2019s too soon to tell how much each acre of the land could sell for, since the city greatly restricted housing construction near the airport prior to 2021.<\/p>\n joyanne.pursaga@freepress.mb.ca<\/p>\n X: @joyanne_pursaga<\/p>\n \n\t\tWinnipeg Free Press | Newsletter\n\t<\/p>\n \t\t\t\t\t \t\t\t\t Joyanne Pursaga Joyanne is city hall reporter for the Winnipeg Free Press. A reporter since 2004, she began covering politics exclusively in 2012, writing on city hall and the Manitoba Legislature for the Winnipeg Sun before joining the Free Press in early 2020. Read more about Joyanne<\/a>.<\/p>\n Every piece of reporting Joyanne produces is reviewed by an editing team before it is posted online or published in print \u2014 part of the Free Press\u2018s tradition, since 1872, of producing reliable independent journalism. Read more about Free Press\u2019s history and mandate<\/a>, and learn how our newsroom operates<\/a>.<\/p>\n
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