The opportunity is real. The potential is boundless. The time is now.
After a decade of unprecedented activity, a boom in population, and an invigorated commitment to partnerships and growth, downtown Winnipeg is the prime location for your rental residential development. And with a new development grant available through our Request for Proposals (RFP), it’s the place to build now.
There’s an energy radiating from Portage and Main - you feel it in every new development. Look around and you’ll see the growth happening. And it’s not slowing down. To meet urban demands, $2 billion dollars* has been invested in downtown developments within the last decade.
The influx of people grows with every new educational, professional sports, cultural and corporate facility. The urgent needs now are rental residential property developments.
The excitement is palpable and the influx of people is growing. Capitalize on downtown’s low vacancy rates and build where people clearly want to be. Cultural and entertainment attractions, sporting events, and educational opportunities are around every corner. For thousands of people who call downtown home, proximity to work is only part of the draw.
Downtown Winnipeg is consistently among the lowest vacancy rates in the nation. Downtown’s population is also increasing at a much higher rate than the rest of Winnipeg.
Together we are committed to increasing the momentum that has been building downtown over the past decade. To date, development incentives, investment in infrastructure and planning leadership have evolved Winnipeg’s downtown into one of the most viable areas in which to develop. Investments happening today will support progress for generations to come.
To date, over $70 million of incremental property taxes generated by new downtown development has been committed for reinvestment to promote development, make improvements to the public realm and supportive programming. The reinvestment of incremental taxes is targeted to enhance the downtown experience whether you are investing here, living here, working here or are just visiting.
A vibrant and sustainable urban centre requires a robust and diverse residential population. Our commitments illustrate our full support of residential property developers and the current and future residents. The Live Downtown: Rental Development Grant Program is another expression of our continued commitment to downtown. All sectors are working together to protect and appreciate your investment.
The Live Downtown: Rental Development Program commits an additional $23 - $25 million to support further rental residential development, one of the key components required to achieve the downtown community we deserve and strive for.
Although the Province and the City are the primary financial contributors to programs aimed to promote downtown initiatives, other private and public sector stakeholders are committed to working together to strengthen growth and further downtown development.
The Live Downtown: Rental Development Grant Program offsets a proportion of developers’ capital investment through an annual grant for a period of up to 20 years. Property developments can be new construction or redevelopment of existing buildings.
Seize the Demand. Capitalize on the new incentive grant. Invest in urban residential development.
Incentive grant snapshot
This is a rare opportunity to access development grants of this kind.
In fact, it's the most lucrative program offered to date.