Property Overview
This is a spacious, high-value condominium in Winnipeg's Exchange District, offering over 2,000 square feet of living space within the 290 Waterfront Drive complex. Its primary appeal lies in its rare combination of generous interior space and a premier downtown location. The unit ranks in the top tier city-wide for both its size and assessed value, placing it among Winnipeg's most substantial condo offerings. Built in 2006, it is a modern residence within a historic neighbourhood. The property suits buyers who prioritize space and location over a detached home, such as empty-nesters seeking a low-maintenance downtown lifestyle, professionals desiring a prestigious and central address, or those looking for a condo that feels more like a full-sized urban apartment. It’s a fit for someone who values statistical rarity—owning a property that outperforms over 99% of Winnipeg homes in key metrics—but who also appreciates the character and vibrancy of the Exchange District.
Frequently Asked Questions
1. What does the "Elite" ranking mean for value and size?
The data indicates this unit's living area and assessed value consistently place it in the top 1-4% of all comparable properties in Winnipeg. This means it is exceptionally large and highly valued compared to most condos and homes city-wide.
2. The building was constructed in 2006. Is that considered old for a condo?
While newer than many buildings on its street, 2006 is relatively modern, especially for the Exchange District where many buildings are historic. The ranking shows it is above average for age within the neighbourhood, suggesting it offers modern conveniences within a classic area.
3. Why is there a significant difference between the assessed value and past sale prices?
The current assessed value is $900K. It last sold for $970K in 2022, and previously for $1.2M in 2017. This variance can reflect market fluctuations, specific unit upgrades, or assessment methodologies. It's important to review recent comparable sales and condo financials for current market context.
4. What is the neighbourhood and building like?
The unit is in the 290 Waterfront Drive complex, part of the historic Exchange District. This area is known for its architectural character, arts scene, restaurants, and proximity to The Forks. The building itself is a mid-2000s concrete structure, likely offering stability and soundproofing.
5. Who might this property not suit?
It may not be ideal for first-time buyers on a tight budget, given its premium price point. Those seeking a brand-new build, a suburban setting, or a very small, low-maintenance space might also find it a less perfect fit. The condo fees and specifics of the building's rules and reserve fund would be important considerations for any buyer.