604-280 Waterfront Drive

Property Overview & Key Characteristics

This is a premier condominium at 604-280 Waterfront Drive in Winnipeg's historic Exchange District. Its primary appeal lies in its exceptional scale and prestigious location. With 2,382 square feet of living space, it ranks in the top 1% of homes city-wide for size, offering a rare, expansive floor plan more akin to a luxury detached home than a typical condo. The unit is situated directly on Waterfront Drive, promising iconic views of the Red River and immediate access to the city's most celebrated walking and cycling paths.

The property suits a specific buyer: someone seeking an urban, low-maintenance lifestyle without compromising on space, privacy, or quality. It’s ideal for empty-nesters who want to downsize from a house but not their living standards, or for professionals who desire a prestigious, turn-key residence in the heart of the city's cultural district. A less obvious perspective is its value proposition within the context of heritage neighbourhoods; while most buildings in the Exchange are much older, this 2007-built condo offers modern systems and amenities within a historic setting, providing contemporary comfort without the potential upkeep challenges of a century-old structure.

Frequently Asked Questions

1. What does the "Elite – Top 1%" ranking mean for the living area?
It means this condo's square footage is larger than 99% of all residential properties in Winnipeg, making its size exceptionally rare, especially for a condominium.

2. Why is the assessed value significantly different from the recent sale price?
The city's assessed value ($1.05M) is for taxation purposes and is based on a prior valuation date. The recent sale price of $1.43M reflects the current market value and what a buyer was willing to pay for this unique, high-demand property.

3. What are the implications of having no basement?
As a condo, this unit includes only its specific interior space. Storage, mechanical systems, and parking would be located in common areas of the building, not in a private basement. This emphasizes the importance of understanding the condo's designated storage and parking arrangements.

4. The year built is ranked "around average" on its street but "Elite" in the Exchange District. Why?
This highlights the character of the neighbourhood. Waterfront Drive has many newer condos, making a 2007 build typical there. However, within the broader Exchange District, which is dominated by heritage buildings from the early 1900s, a 2007 construction is very modern and ranks at the very top for being new.

5. Who is responsible for exterior maintenance and major repairs?
As a condominium, the corporation is responsible for the building's exterior, common areas, and major structural elements. The owner is responsible for the interior of the unit. Details would be outlined in the condo's reserve fund study and bylaws, which are essential review documents for any serious buyer.