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

---

"The best thing that has happened to downtown Winnipeg is CentreVenture Development Corporation... If you want to get something done in downtown Winnipeg, CentreVenture should be participating."
-- Joe Diner, J.J. Barnicke, Winnipeg.

Downtown property values have increased, residents and businesspeople are optimistic about downtown's future, the demand for residential development is on the rise. Downtown Winnipeg is booming with new construction megaprojects and major building refurbishments worth over $870 million. Proof positive that once again, downtown means business.

Through its Urban Development Bank, CentreVenture has provided over $9 million in gap financing, mortgages and development capital, supporting 28 projects, which have leveraged more than $60 million in private sector investment. CentreVenture's Heritage Tax Credit Programs, over several years, have leveraged some $20 million in heritage preservation and redevelopment projects on 26 buildings, a better than 9:1 ratio of private investment to public support.

Among a host of other developments, downtown’s success stories include the construction of a new downtown hotel and two new office buildings -- one in a refurbished heritage building, and the other a new property on Waterfront Drive. CentreVenture's involvement with Mountain Equipment Co-op and Giant Tiger enabled developers to replace abandoned buildings with major retail establishments by tapping into tax and other financial incentive programs.

The Exchange District is now home to Red River College's downtown campus. CentreVenture advocated for the Princess Street location to be the site of the $35 million project, recognizing the significant economic spin-off benefits that choice would generate in The Exchange. With CentreVenture assistance, warehouse buildings are being transformed into residential properties including rental lofts and upscale condominiums.

CV has sold 23 abandoned buildings and vacant lots in Winnipeg's downtown that had come to the City in tax sales. New investment in these properties totals $52 million and more than $2.5 million in proceeds were reinvested in CV’s Urban Development Bank. CentreVenture made the business case that convinced the three levels of government to invest $9.1 million in the Waterfront Drive project, a meandering riverside roadway and adjacent public parklands in the historic East Exchange neighbourhood.

In February 2004, a request for proposals was issued for residential and mixed-use development on the valuable lands fronting Waterfront Drive. Out of the 19 development proposals received, four exciting new projects were chosen for this street that is destined to become one of Winnipeg's premier addresses. As a result, eight previously surplus City lands are receiving $58 million in private sector investment towards 202 residential units and over 35,000 square feet of commercial space. The response regarding these developments has been so overwhelming that existing adjacent property owners in the area are now planning investments worth close to $100 million, and enjoying increased property values.

CentreVenture was a catalyst behind the simplified and less restrictive downtown zoning bylaw and streamlining of the City's downtown development approval process. CentreVenture Development Corporation won the prestigious International Economic Development Council Award in 2002 for its entrepreneurial approach and accomplishments in revitalizing Winnipeg's downtown through innovative partnerships. In 2005, CentreVenture was again honoured by the IEDC, this time with an Honourable Mention in the Multi-Year Economic Development Programs category.

Many Canadian cities look to CentreVenture as a successful model in redevelopment of their own downtowns.