Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan, is redeveloping the former home field of the Winnipeg Blue Bombers into a mixed-use space.
The investment organization is partnering with Shindico Realty Inc. to transform Polo Park, which housed Canad Inns Stadium from 1953 until 2013. The site was acquired by Cadillac Fairview and Shindico in 2018.
According to a master plan released by the pension fund, the area will be redeveloped into a 33-hectare space for residential housing and amenities, offices, parks and retail businesses. In a press release, Wayne Barwise, executive vice-president of development at Cadillac Fairview, said the redevelopment could attract new retailers to Winnipeg. “We are thrilled to be in a position today to share the plans and will be submitting an application to rezone the Polo Park lands in the coming weeks.”
In other news, the Alberta Investment Management Corp. is investing in loan transactions sourced by the Public Sector Pension Investment Board.
According to a press release, the two investment organizations will collaborate to grow their credit portfolios. PSP Investments will source loan opportunities for funds earmarked by both organizations.
Since the AIMCo began investing in private credit in 2010, previous allocations were managed by teams based in its Canadian and U.K. offices. In the release, Evan Siddall, the AIMCo’s chief executive officer, said the arrangement is expected to improve the AIMCo’s returns from the asset class. “This is a mutually beneficial endeavor and displays the power of cooperation between two Canadian Maple 8 peers for the betterment of the Canadians each respectively serve.”