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U of W Selling Historic River Heights Property

March 17, 2014 10:26 AM | News

49 Oak Street

This River Heights home at 49 Oak Street, owned by the University of Winnipeg, is up for sale. (HANDOUT)

The University of Winnipeg is putting a River Heights house up for sale after owning it for the past six decades.

The property at 49 Oak Street has been used as the president’s quarters since being purchased in 1955 for $26,500.

“Owning a President’s house used to be a common practice across Canadian universities, which often doubled as a venue for fundraising and other events,” said Bill Balan, vice-president of the U of W. “With a fully-renovated Convocation Hall and new meeting spaces newly-developed on the UWinnipeg campus, that need has diminished.”

Proceeds from the sale of the house will go towards other university capital purposes, including costs saved on property taxes, maintenance and utility bills.

U of W’s president and vice-chancellor, Dr. Lloyd Axworthy, purchased a private home in 2013.

About 49 Oak Street:

  • Constructed in 1930
  • 3,160 square feet
  • Classic traditional centre hall
  • Covered ceilings
  • Oak floors
  • Includes a mezzanine family room, sunroom and double attached garage

The sale of the house is being handled by realtor Chris Pennycook of Royal Lepage Dynamic.