WINNIPEG – Winnipeg Mayor Scott Gillingham is calling the $650 million redevelopment of Portage Place “one of the biggest downtown developments in generations.”
Gillingham voiced support regarding the conditional sale of the land, parking and air rights from the North Portage Development Corporation (NPDC) to True North Real Estate Development Limited.
A report on the Purchase and Sale Agreement was posted on Sept. 11 for the Sept. 17 meeting of the City of Winipeg’s executive policy committee.
“This agreement will pave the way for one of the largest private sector investments in downtown Winnipeg’s history, supporting a $650 million redevelopment of a tired shopping mall into a dynamic centre for health, recreation, housing, arts and retail,” Gillingham said.
The proposed redevelopment will create a 1.2-million-square-foot mixed-use space with a health care centre, multi-family housing with up to 40 per cent affordable units, common areas, green spaces and renewed commercial units, a City of Winnipeg release said.
The project will also extend Edmonton Street to better connect the area and increase accessibility, the release added.
Gillingham connected the Portage Place development to the larger drive to revitalize Winnipeg’s downtown area.
“The health of our downtown is critical to the success of our entire city. When I ran for mayor in 2022, I committed to finding a solution for Portage Place, and today, I am proud to support a plan from True North that delivers on that promise. This project will provide both economic and social benefits and will complement the neighbouring Wehwehneh Bahgahkinahgohn development being led by the Southern Chiefs’ Organization,” he said.
True North is expected to move forward pending approval from NPDC shareholders, the City of Winnipeg and the Province of Manitoba, the release said, with construction projected to take lace over the next three to four years.
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