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Winnipeg Free Press - PRINT EDITION

Breathing new life into downtown

CentreVenture reveals new vision for Portage Avenue

By: Murray McNeill

Posted: 04/28/2010 1:00 AM | Comments: 0 (including replies)

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Details on the districts Key elements in the new "action plan" for Portage Avenue: Shrink the downtown by dividing the area around Portage into four districts: the University of Winnipeg District, the Retail District, the Sports and Entertainment District and the Commercial Office District, as identified on the map, and concentrating future development there. Each district would have its own character and focus, and target specific types of development, rather than using the old shotgun approach. Concentrate most future retail development on Portage and Graham avenues between the MTS Centre and The Bay. Tie the University of Winnipeg into the Portage redevelopment by extending the pedestrian skywalk system westward from the Investors Group building to the university campus. Bolster the University of Manitoba's presence downtown. Seek to have the area around downtown Portage designated as the city's first tax increment financing zone. A TIF zone diverts increased property and education taxes from reassessments on any redevelopments in the zone into a separate account. The money is then used to pay for grants to developers for further improvements in the zone. Continue working with the private sector to redevelop two key properties in the near future -- the former Metropolitan Theatre on Donald Street just south of Portage, and the A & B Sound/Mitchell Copp buildings on the north side of Portage across from the MTS Centre. Reopen Portage and Main to pedestrians. -- Source: CentreVenture Development Corp.

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CentreVenture Development Corp. has unveiled its new vision for downtown Portage Avenue, which includes a new hotel across from the MTS Centre and extending the skywalk system to the University of Winnipeg.

With the redevelopment of Main Street well underway, the city's downtown development agency is turning its attention to breathing new life into Winnipeg's other key thoroughfare.

Corporation officials told the agency's annual meeting Tuesday the agency and the Downtown Council, which includes the area's major stakeholders, have developed a new "action plan" for Portage. Highlights include dividing the downtown around Portage into four distinct districts, seeking to have the area designated as the city's first tax increment financing (TIF) zone, extending the pedestrian skywalk system westward to the U of W, and redeveloping the former Mitchell Copp/A & B Sound buildings.

CentreVenture CEO Ross McGowan said in an interview the agency recently acquired the former Wild Planet building across the back lane from the other two buildings. It wants to turn all three properties into a new mixed-use development which could include a hotel, residential units and retail space. He said it will be a multimillion-dollar project, but he refused to disclose any details until planning is complete.

"There is progress being made with commercial and hospitality interests," McGowan said. "I think by July or August we'll be able to make an announcement."

He said the agency's redevelopment plans don't stop with just those three properties. It's also trying to acquire several other properties in the same block between Portage and Ellice avenues and Donald and Hargrave streets. But he wouldn't say which ones or how many, because negotiations are ongoing.

He said the agency would like to have the area around downtown Portage designated as a TIF zone so the additional property and education taxes generated from any new redevelopments there can be placed into a separate account and used to spur on more new developments in the area. The proposed extension of the skywalk system to the U of W campus is one of the projects that could be funded with TIF proceeds.

"We're exploring it (the skywalk extension). It's on the agenda."

He said one of the key objectives of the action plan is to shrink the size of the downtown by focusing development within the four new districts.

"Instead of going south with new development or going north, we want to push it all towards the centre -- to strengthen the core," he said.

McGowan, CentreVenture chairman Jim Ludlow and Mayor Sam Katz all told the meeting that great strides have been made in efforts to revitalize the downtown.

"The downtown is in the midst of a serious upswing," McGowan said. "I think we're much closer to our tipping point than many would have thought just a few years ago."

"I'm excited about the downtown," Katz said.

murray.mcneill@freepress.mb.ca

Republished from the Winnipeg Free Press print edition April 28, 2010 B6

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