300 Tuxedo, Residential, Winnipeg

Case Study

BACKGROUND

Atelier Living transformed the former Shell Canada service station within Tuxedo Park Shopping Centre at 2025 Corydon Avenue into one of Winnipeg’s premier luxury rental communities.

Developed in partnership with IG Mackenzie Real Property Fund, Dynasty McCOR Development Inc., and architect Raymond Wan, the project reflects a shared vision to deliver a sophisticated, design-forward residential experience in one of Winnipeg’s most established neighbourhoods.

Located at the prominent intersection of Tuxedo Avenue and Corydon Avenue, the development introduced a premium rental offering into a market with limited luxury inventory while enhancing the surrounding community and creating long-term asset value.

THE OPPORTUNITY

The site presented a unique opportunity for densification, transforming an underutilized former service station site into a landmark mixed-use residential destination. The strategy maximized the value and potential of the existing site by introducing 84 new residential units while retaining and enhancing its commercial component.

Through strategic planning, innovative design, and a focus on resident experience, the project aimed to deliver a luxury rental product unlike anything else in the market while increasing density and maximizing long-term asset value.

McCOR’s Role

As Development Manager, McCOR led the project from planning construction of the building through execution of leasing and management of construction with a focus on delivering an exceptional resident experience and maximizing long-term asset performance. Responsibilities included:

  • Strategic redevelopment and densification planning and project execution
  • Resident-first design and amenity planning
  • Premium positioning within Winnipeg’s luxury rental market
  • Pre-leasing strategy to accelerate occupancy, improve post-development cash flow, and support early stabilization
  • Residential leasing and stabilization strategy
  • Commercial leasing strategy and execution, achieving 100% commercial occupancy, including securing a restaurant tenant
  • Achieving 100% commercial lease-up at premium market rental rates
  • Operational planning and long-term property management

CONCLUSION

The redevelopment delivered Atelier Living — a 13-storey, 84-unit luxury rental tower featuring premium finishes and a hospitality-inspired living experience.

The project achieved rapid lease-up, reaching 100% residential occupancy within eight months of receiving occupancy permits. The pre-leasing strategy supported early occupancy and improved cash flow following development, accelerating the property’s stabilization.

Atelier Living continues to perform strongly, achieving some of the highest residential rental rates in Winnipeg while maintaining a low tenant turnover rate. This combination of premium rents, sustained occupancy, and resident retention demonstrates the strength of the development’s market positioning and long-term appeal.

Today, McCOR continues to manage the property, ensuring operational excellence, exceptional resident service, and long-term asset performance.

Atelier Living stands as a benchmark for strategic densification and luxury rental redevelopment in Winnipeg and reflects McCOR’s ability to transform underutilized sites into vibrant, high-performing residential communities.