City hall will finance streetscaping projects for the new downtown CentrePoint parkade and hotel/office tower project.
The downtown development committee approved the creation of a $1.2 million streetscaping project designed to enhance the street level appearance of the giant five-storey parkade being constructed on the north side of Portage Avenue opposite the MTS Centre on Hargrave Street between Portage and Ellice Avenue.
An administrative report states the program will construct streetscaping elements in front of the parkade and in front of the new Alt hotel on Donald Street.
The $130-million CentrePoint project is a development venture between the Chipman-family-owned Longboat Development and Artis Real Estate Investment Trust. In addition to the massive 400-stall parkade, the project includes a five-storey office building and a 15-storey hotel atop the office building, and a 195-unit, 21-storey condominium tower.
The streetscaping funds will be taken from the proceeds of the sale of the Winnipeg Square parkade.