Downtown Renewal Projects lever investment in Winnipeg

November 03, 2009

Winnipeg, Manitoba - Today, the Government of Canada, the Province of Manitoba and the City of Winnipeg announced funding of more than $3.2 million through the Winnipeg Partnership Agreement to refurbish and improve landmarks in the historically rich North Main and Exchange Districts in downtown Winnipeg.
The funding was announced by His Worship Sam Katz, Mayor of Winnipeg, Manitoba Intergovernmental Affairs Minister Ron Lemieux, and the Honourable Lynne Yelich, Minister of State for Western Economic Diversification.

“In their unique way, these three projects contribute to the redevelopment of the downtown,” said Mayor Katz.  “Investing in our heritage buildings for businesses and providing upgraded green space at one of our most historic meeting places is another positive step toward the renewal of this part of our city.”
“Preserving heritage buildings in Winnipeg’s downtown and investing in the vibrant Old Market Square park will help to revitalize Winnipeg’s inner city,” said Minister Lemieux.

“With today’s investment, we are creating more economic opportunities  for the downtown area,” said Minister Yelich.

The downtown renewal projects are a significant injection to lever other investment, as well as support economic growth of the downtown area through commercial and cultural activity. All of the funded projects involve the preservation and refurbishment of heritage buildings and sites to bring them up to today’s standards while maintaining the unique character of this urban historical area.

The projects include a $2.3 million refurbishment of 104 King Street to restore the historical facade of the building, add parking facilities and develop the interior to be suitable for retail space; $800,000 to enhance Old Market Square green space and lighting; and $110,000 to restore the exterior and make upgrades to the former Dominion Bank Building at 585 Main Street.

Signed in 2004 and now in its final year, the Winnipeg Partnership Agreement (WPA) has committed virtually all of its funding. It has supported 245 projects with a total investment of $75 million. The WPA has funded projects that support downtown development; neighbourhoods; Aboriginal participation in Winnipeg’s economy; and economic development through technology and innovation. The funds announced today come from Component III – Downtown Renewal.