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Royal Bank of Canada Building
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The Royal Bank was the last major financial institution
to open Winnipeg premises. Although the Royal's history
in eastern Canada went back to 1869, the Montreal-based
bank did not venture west to Winnipeg until 1906. The bank
initially leased quarters on the east side of Main Street
north of Bannatyne Avenue at 445 Main Street in the Forum
Block. Shortly after, it purchased the Imperial Dry
Goods Block on West Main south of Bannatyne for $200,000.
Redevelopment of the site was delayed during a recession
in 1907-08.
Bankers' Row on Main between Portage and William avenues
had been quickly filling with neoclassical structures occupied
by insurance, trust and loan companies as well as banks. To
make its mark in this competitive context, the Royal opted
to build Winnipeg's only Italian Renaissance palazzo-style
bank and to use the prestigious American firm of Carrère
and Hastings.
