WINNIPEG — A major-league revitalization sparked, in part, by the NHL’s return to Winnipeg is slowly taking shape downtown.
The 11-block Sports, Hospitality and Entertainment District, which includes the MTS Centre, the newly renamed RBC Convention Centre and a number of high-rise condo developments, will change the landscape and hopefully demographic of Winnipeg’s downtown core.
“What we’re trying to do here is create some density, create more activity, create more vibrancy within this district to begin with and hopefully expand beyond the bounds of the district in the longer terms,” said Tom Janzen, development manager for Centre Venture, an arm’s-length city agency devoted to downtown revitalization.
Centre Venture has estimated nearly $1.4 billion in total investments has been committed to the district, including the $470-million investment in the MTS Centre and the Jets acquisition, the $194-million police headquarters and the $180-million expansion of the convention centre.
Some of the new SHED development has been made possible through a joint funding agreement among Centre Venture, the city and the province.
The tax increment finance project is a five-year, $25-million “loan.”
“Ultimately what it does is it directs the incremental increase in property taxes generated by new development, and re-invests those dollars directly back in (to the SHED district),” said Janzen.
The money will be designated for streetscaping, sidewalk widening and lighting improvements.
“We wouldn’t have those future tax revenues anyways if we didn’t do something,” said Dave Angus from the Winnipeg Chamber of Commerce. “It’s really about addressing gaps and there is a gap where the market is and where the cost of development is right now.”
Winnipeg’s mayor has said this is an extremely important project.
“What we are doing, beautifying the streets, signage, green space, dealing with safety issues … it’s a good use,” said Mayor Sam Katz.
Many agree having more Winnipeggers residing in the downtown is a key component in ensuring a vibrant, dense and active district.
“The magic around any downtown is getting more people living downtown, and part of people living downtown,” said Angus, “is available, affordable space, but also things to do within walking distance of those condos.”
Centre Venture has said another key component is making the district more pedestrian friendly, which is why the agency has proposed a future public plaza for on a surface lot on Graham Avenue between Carlton Street and Donald Street that’s currently owned by Manitoba Public Insurance.
“In our view, that’s a really important location within the district and really the heart of the district,” said Janzen.
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