Incentives aim to boost downtown living in Winnipeg

A new rental development program is providing property tax incentives in an effort to create more places to live downtown in Winnipeg.

The Live Downtown Rental Development Grant Program, launched Tuesdayby the Manitoba government and the City of Winnipeg,aims to develop 750 to 900 new apartments.

Live Downtown is funded using Tax Increment Financing, a subsidy which gives rental property developers an incentive to build downtown.

One of the commitments I made in the recent civic election was to increase the number of Winnipeggers who call downtown home, said Mayor Brian Bowman.

Along with increasing downtowns population, Live Downtown seeks to reuse surface parking lots, and to accommodate a wider range of income levels.

By increasing the mix of residential and commercial buildings we can add to the vibrancy of downtown life, accelerate the energy and vigor of activities downtown at the end of the work day, decrease infrastructure servicing costs and reduce vehicle reliance, said Premier Greg Selinger.

More information is available on the Live Downtown website.