One of Winnipeg’s most iconic music venues and adjoining hotel are going to auction.
The Albert, the dingy Exchange District bar inside the Royal Albert Arms Hotel – perhaps best remembered for having hosted Green Day and Nickelback before they made it big – opened to auction in mid-November.
The mortgage company has put the property – the 53-room hotel now serves as low-income housing while the beverage room has been closed for years – into foreclosure. The property has fallen into disrepair and hasn’t had any guest services, including a front desk, for several years.
Angela Mathieson, president and CEO of CentreVenture, Winnipeg’s downtown development agency, said the reserve bid at the November 15 auction for the 104-year-old heritage property was “more than $1 million.”
It’s even possible the beverage room could also be reopened.
“[Its history] is creating a lot of interest. Some people would like to buy it and open it up for live music,” she said.
If the reserve bid isn’t met, the mortgage company could then list the property and try to sell it.