It’s been a work in progress for half a decade: but on Wednesday, the group in charge of The Market Lands redevelopment finally unveiled their proposal for the downtown space.
The unused area, which is more than 2 acres, has been an eyesore across from City Hall since the Public Safety Building (PSB) was emptied in June of 2016.
The Princess Street property houses both the vacant building and the civic parkade. The latter was abandoned in 2012 amid structural concerns.
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The new proposal shown by CentreVenture Development Corporation Wednesday includes up to 400 residential units, commercial space and a public market.
There’s also green space, in accordance with a caveat that requires part of the land to have a public use.
The proposal was made after multiple public consultations.
Mayor Brian Bowman was on hand for the unveiling.
“It’s not every day…we get the chance to redefine an entire block of land in the heart of our city,” Bowman said.
But not everyone is thrilled about the future plans.
Business owner Lennard Taylor said he’s worried they could amplify the already-concerning lack of parking in the Exchange District.
“They’re talking about adding 400 new units to the neighbourhood with only 200 new parking stalls,” Taylor said.
“Where is everyone going to park?”
With Red River College, City Hall, Old Market Square and dozens of shops and apartments within just a few blocks, parking in the area is already at a premium.
CentreVenture said interested developers are welcome to build underground spots, but nothing is guaranteed unless the market calls for it.
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Taylor said on Wednesday he believes there’s a dire need.
Nothing is set in stone just yet, however.
The proposal still needs to clear council this spring, before CentreVenture will turn towards interested businesses in a Request for Expression of Interest.
If all goes according to their plan, the parkade and PSB could start to be demolished later this year. Shovels could hit the ground as early as 2020.
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