Manitoba Public Insurance has acquired Cityplace, the office and retail building that houses most of its administrative offices, while assuring ratepayers that the acquisition will contribute to stable operating costs and continued low Autopac rates.
“We have a responsibility to keep our operating costs low so we can continue to provide Manitobans with the best possible value from their public auto insurance system,” McLaren said. “Buying this building is the most cost-effective option.”
Manitoba Public Insurance has been facing difficult questions about where to locate its administrative offices in the years ahead. The acquisition will give Manitoba Public Insurance more control over its operating expenses, while allowing the corporation to avoid the disruption of relocating its administrative offices, extensive information technology facilities, a large call centre and several hundred employees.
The Crown corporation has acquired the building and surrounding parking lots from Huntingdon Real Estate Investment Trust for $81.5 million.
Most of the nine-storey building is made up of office space, with retail space on the first two floors. The corporation currently occupies about 80 per cent of the office space in the building. In addition to its administrative offices in Winnipeg, the corporation operates out of 20 claim centres and customer service facilities throughout Manitoba. Manitoba Public Insurance will take possession of the Cityplace property on May 1, 2009.
