New Affordable Luxury Apartments For Rent in Osborne Village

Paragon Design Build’s 20-unit apartment building boasts designer suites with balconies, free high-speed internet and a heated underground parkade

Beautiful neighbourhoods make up our lovely city.

As one of the leading infill developers in Winnipeg, we love bringing in new developments that add value and vibrancy with a dash of style to these neighbourhoods. You’ll find Paragon developments across the city, from the hip and bustling Osborne Village to family-friendly River Heights community.

Areas like Osborne Village and River Heights are called mature neighbourhoods. These neighbourhoods tend to be very walkable and close to amenities such as schools, shopping, entertainment and more.

Paragon is proud to introduce new affordable luxury rental units in Osborne Village, where tenants can enjoy living in high-end suites at below the market price.

530 River Avenue: Osborne Village Luxury Apartments – Redefined

530 River Avenue is our latest Osborne Village project. The property sported a single-family home built in the 1900s. It was later converted into a triplex unit that operated as a rooming house-style rental.

“When we purchased the 100-year-old building, it was derelict and at the end of its lifespan,” says Paragon President Nigel Furgus. “Our lawyer pointed out that he used to live in one of the units when he was in law school. He mentioned the building was already falling apart 20 years ago.”

Infill development is a natural process of redevelopment and evolution that all cities follow. Great cities like New York and Paris have reinvented and redesigned themselves multiple times. Usually, this process occurs gradually with new builds replacing older ones that have fallen into disrepair or no longer serve the needs of the neighbourhood.

Osborne Village is a great microcosm of how the infill process has happened over decades in Winnipeg. It began life with streets lined with single family homes. Over the years, it has evolved to have a much denser population - in fact, it’s one of the densest areas in Canada. That change has been driven by the demand from people seeking an urban environment with restaurants, parks and good transit options that is close to downtown and the river.

The suites at 530 River range from 550 to 990 square feet, and amenities include water utilities, free high-speed internet, in-suite laundry and a private balcony. The pet-friendly apartment also has modern security features such as security cameras, a secure parkade and secure entrances.

Bringing Vibrancy To The Village

Instead of being a derelict rooming house, 530 River Avenue is now a brand new, highly desirable apartment building. The building is fully operational and offers 20 units with heated indoor parking.

“We are proud of the work we did in the neighbourhood. When you bring in 20 plus people in a corner where there used to be a derelict building, it revitalizes the whole area. We’ve been getting a lot of feedback about how much value, vibrancy, life and activity we brought into the area,” says Nigel.

The apartment was 100 per cent fully leased before completion. It has a great mix of tenants from young professionals, retirees, empty nesters and new Canadians.

A Community Driven Project

We take pride in how we do community consultation.

“We consulted with our neighbours, and in the end we brought in a great building and improved the area. We replaced part of the city sidewalks and added landscaping along River and Nassau. Our neighbours were worried about garbage bins, so we made sure there’s a garbage enclosure to tuck that away. Community consultation is a huge part of Paragon developments. Our neighbours’ feedback is important to us,” Nigel explains.

530 River Avenue Fast Facts

Completion time: 11 months

Completion date: April 1, 2021

Architect: Affinity Architecture Inc.

Structural Engineer: Wolfrom Engineering Ltd.

Mechanical and Electrical Engineer: CGM Engineering

Interior Designer: Zoe Henry Designs

For more information on 530 River Avenue and suite availability, please visit

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