The downtown decade – investments at $2.4 billion for Winnipeg 2005-2015
WINNIPEG, MB – The Institute of Urban Studies at The University of Winnipeg today released an update on Winnipeg’s downtown development over the past decade (2005 to 2015) which shows unprecedented growth: $2.4 billion has been invested with another $1 billion planned, the downtown population has grown from a low of 9,000 to 16, 000 residents, and more than 2,500 residential units have been added or are in development.
The report adds that the provincial and city governments have assisted through programs such as Tax Increment Financing (TIF) which encourages residential development. The Province of Manitoba has also relocated Crown Corporations downtown – Manitoba Hydro – with the Manitoba Liquor and Lottery headquarters to follow.
“With well over $2.4 billion in direct investment and a billion more planned, a transformative renaissance is redefining our downtown,” said Dr. Jino Distasio, Director, Institute of Urban Studies (IUS) and Associate Vice-President, Research and Innovation, UWinnipeg. “IUS is pleased to update the tremendous amount of growth that continues to strengthen our downtown and community. This change is unprecedented when looking back over the last 100 plus years. As a community, we should be amazed at the level of activity, and increasingly, the world is taking notice including the recent National Geographic ranking of Winnipeg among the top 20 destinations globally.”
The report documents the largest downtown projects to date. The top five are: Canadian Museum for Human Rights ($351 million); Manitoba Hydro HQ ($278 million); Winnipeg Police HQ ($215 million); Winnipeg Convention Centre expansion ($180 million) and Centrepoint ($100 million.)
The University of Winnipeg has attracted $217 million in investments to the downtown through a series of projects in the past decade including the two largest, The Richardson College for the Environment and Science Complex ($67 million) and the Axworthy Health and RecPlex ($40 million).
Access the IUS reports.
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Diane Poulin, Senior Communications Specialist, The University of Winnipeg
P: 204.988.7135, E: email@example.com