Old stadium site hits the market
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Hey there, time traveller!
This article was published 25/04/2011 (5480 days ago), so information in it may no longer be current.
The old stadium site in Polo Park is finally up for sale.
The City of Winnipeg issued an invitation for Expressions of Interested on the 26-acre site, with a closing date of June 3.
The documents, available on line, state the city is looking for a “high-density mixed use development,” that would generate a great deal of property tax revenue.
A new, $190-million, 33,000-seat stadium is under construction at the University of Manitoba and is expected to be ready for the 2012 CFL season.
The city documents state the city is interested in only selling the property — not leasing the land — and the demolition of the old stadium has to be included at no cost to the city.
The documents do not indicate when the land would be sold but sets out a tentative timeline:
June 3 – Deadline to submit expressions of interest.
June 24 – City releases shortlist of the most interesting submissions, and then begins reviewing the shortlisted submissions in detail.
July 24 – City begins final negotiations with one or more of the winning submissions.
The city placed a caveat on the expression of interest — it might not find any of the submissions appealing and it is not compelled to negotiate with any of the developers making submissions.
Each submission must include a transportation impact study and an economics benefit analysis, itemizing the estimated property taxes generated by the project; the number of jobs created; and, any other benefit to the city.
The city says its willing to consider submissions for the entire 26-acre site or any portion of the site.