Portage la Prairie is the fifth largest city in Manitoba that was originally built as a fur trading post. It is known as the Strawberry Capital of the World, home to the Portage Terriers, and the community welcomes people from all over who come to use their popular recreational facilities located at Island Park. Vionell Holdings is pleased to announce that it will also be home to a brand new 128 unit rental community that will be located in close proximity to Arthur Meighen School.
While decisions on how and where to invest in housing properties often involve number crunching, there are many other considerations that come into play. Although Vionell Holdings is based in Brandon, there are many reasons as to why this family-owned property management firm is excited to enter the market in Portage la Prairie.
While strong economic growth in this central region of the province is a factor, other reasons for branching out into this market include:
1) There is a great group of local investors that have a shared vision of the new project. The general belief is that new housing options will have a positive effect on the city as a whole.
2) With the new expansion at Simplot and the construction of a pea processing plant, many new jobs have and will be created in the city. Add this to a number of value-added agricultural jobs that already exist and there is plenty of potential for economic growth and development.
3) City administration (especially the planning department) and city council members have been integral and helpful in getting this project off the ground.
4) Even though the community is progressive, there are very few rental units that have been added to the market in the last 20 years. This means that we expect that there will very likely be a lot of interest in the new rentals and demand will be strong.
5) Portage la Prairie has invested in great recreational and medical clinic facilities, which makes the community a great place to work, play and raise a family.
And, in case you didn’t know, this small city is home to the world’s best hamburger. But, don’t take my word for it, visit Jimmy’s Submarine and Dairy Delight to find out for yourself!
As we continue to make plans for the new rental property, we want to keep the community informed as well. As such, Vionell Holdings will be hosting an information session on Thursday, November 22 at 10 a.m. at Stride Place in Portage la Prairie. See you there!
By Jason Roblin. Find him on LinkedIn here!
Vionell Holdings Partnership (VHP) provides rental housing and property management for an array of residential and commercial customers, including Condominium Management. VHP currently has nearly 4,000 units under management in Manitoba. For more information please visit www.vhproperties.ca.
VHP has committed to constructing 128 multifamily residential units in Portage la Prairie that will be ready for occupancy in fall of 2019.