Hudson’s Bay’s 39th “governor,” Mr. Baker, declined an interview request for this article, instead emailing a statement. “The Southern Chiefs’ Organization fully owns and operates the building, with oversight and control of all aspects of its future development,” he said, adding that the company supported the Indigenous organization’s vision for the building.

But there is deep skepticism in Winnipeg that its makeover can be completed without significantly more financial backing. Beside the University of Winnipeg, both the provincial utility, Manitoba Hydro, and the Winnipeg Art Gallery had also rejected, as too costly, taking over the building.

Hudson’s Bay jumped at the chance to get rid of a building “that was worth nothing in the first place,” and the government is not supporting the building’s costly conversion “with enough money to actually do it right,” said Wins Bridgman, a Winnipeg-based architect who has worked with Indigenous groups, including the Southern Chiefs.

“Then we wonder why it somehow doesn’t work,” he said.

“Beware of what people give you and why they give it to you.”