Land parcels will be leased to building developers for a 99-year term. The lease term is renewable. Lease prices vary by lot location and will approximate freehold value.
Servicing of the land will begin in 2023, and the first lots will be ready for building construction in 2024.
Most buildings will be mid-rise and high-rise construction, which typically take 18 to 24 months to complete. The first buildings are expected to be ready for occupancy in 2026.
The land is zoned for medium- to high-rise condos and rentals, as well as offices and commercial space (retail, hospitality and lifestyle businesses). Housing will be apartment style and townhouse style.
At full buildout, Southwood Circle could be home to about 20,000 residents, in addition to the university population of over 40,000 people who travel to the campus each day. With a total daytime population exceeding 65,000 people, the combined Southwood Circle and university campus will become the second largest city in the province.
Southwood Circle will be a community for anyone looking for a vibrant, interesting lifestyle in a great location with great amenities. We expect people of all ages, backgrounds and income levels to be drawn to this unique new neighbourhood. While the location will be attractive to people associated with the university, the community will not include student dorm-style housing.
The lands are owned by the University of Manitoba and leased in entirety to UM Properties, the master land developer.
The community was named Southwood Circle to acknowledge the site’s past and to reflect our embrace of Indigenous teachings. The word “Circle” reflects the importance of the circle of life in all things, which is an important concept in Indigenous culture.
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