Our Mission | Our History | Our Results | Strategic Directions | Our Board | Our Staff | Our Partners

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CentreVenture Development Corporation was created in May, 1999, by Winnipeg City Council to spearhead the revitalization of downtown Winnipeg. CentreVenture was established based on the principal recommendation of the Downtown Winnipeg Task Force to implement concepts reflected in the CentrePlan Development Framework, a document that was the result of extensive community consultations.

By 1999, downtown was plagued by an exodus of businesses and residents, a significant increase in arsons, and declining property values. The Task Force proposed the establishment of a "downtown development authority" to plan, coordinate and implement revitalization projects to halt the decline and improve downtown's fortunes. City Council enabled CentreVenture to adopt a public-private partnership approach that would capitalize on the expertise of the private sector and the policy development strength of government. The goal was the economic, physical and social rebirth of Winnipeg's downtown.

In 1999, the City of Winnipeg initially provided $3 million in seed capital to establish CV's Urban Development Bank which offers gap financing, mortgages and loan guarantees for small and medium-size projects. Pleased with the Corporation's results, in June, 2002, Winnipeg City Council renewed CentreVenture's mandate to 2006 and expanded its geographic reach. The City also approved an additional $7 million deposit to fuel Urban Development Bank activities, for a total investment of $10 million. In June 2006, City Council endorsed a further three year renewal of CentreVenture's operating agreement on the basis of an updated and expanded strategic plan that focuses on developing clusters of new activity along Portage and Main, the city's signature streets.

The Government of Manitoba made an initial $250,000 contribution to the Urban Development Bank fund and continues to provide additional annual contributions of $250,000.

CentreVenture's mandated area of responsibility now covers one of the largest downtown areas in North America, bordered by the Assiniboine River to the south, CP Rail Highline to the north and the Red River to the east. The area's western edge is roughly defined by Osborne, Young, Balmoral and Hargrave Streets.