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The Manitoba government and True North Real Estate Development have signed a Letter of Intent regarding a lease agreement for the Health-Care Centre of Excellence. Some facts and figures for the redevelopment:
– 35-year lease agreement;
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– 15-storey Multi-Family Tower;
– 12-storey Health-Care Centre of Excellence;
– Construction on Health-Care Centre of Excellence is planned to begin in 2025;
– Target for completion of construction in 2028;
– Portage Place redevelopment projected to cost $650 million;
– Wehwehneh Bahgahkinahgohn (The Bay redevelopment) projected to cost another $200 million;
– Economic impacts for the Portage Place redevelopment could total over $950 million with another $390 million added on in value-added impacts.
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