Province, city commit millions to new hotel, 21-storey tower slated for downtown Winnipeg
Vacant building on Broadway will become a boutique hotel; high-rise on Colony to include affordable housing
A boutique hotel and a commercial and residential apartment high-rise are set to be downtown Winnipeg's latest additions, after the province announced it will contribute millions to each project.
A vacant six-story building at 325 Broadway will be converted into a 140-room Hyatt Centric hotel — the first of the Hyatt Centric brand in Western Canada — complete with a restaurant and spa, the province announced in a news release Thursday.
"We are excited to have the opportunity to transform a key location in downtown Winnipeg to a world-class luxury hotel," said Anupam Kothari, president of Kothari Group, which developed the project, in the release.
The Manitoba government will provide $5.2 million over 20 years for the nearly $40-million project under the Manitoba Works Capital Incentive program, which rebates incremental education property taxes generated by a project for up to 20 years, the province said.
The hotel is expected to create 200 short-term construction jobs and 70 hotel jobs within three years of completion.
"This unique boutique hotel project … will revitalize a vacant building and grow downtown tourism and hospitality, breathing new life into the core and showcasing the best the city has to offer," said Jeff Wharton, minister of economic development, investment and trade.
The province is also spending up to $2.73 million under the incentive program on the development of a 21-storey tower at 308 Colony St, which will create 214 apartment units and two office or commercial spaces on the ground floor.
Eighty-six of the units will be used for affordable housing, and an outdoor green space, terrace, gym, and lounge will also be added to the project.
The project, developed by the University of Winnipeg Community Renewal Corporation 2.0, is being designed for net-zero greenhouse gas emissions and will cost $70.5 million, the province said.
The building is expected to create 200 jobs during construction and more than 10 jobs once it's built.
The City of Winnipeg is also providing funding for the two projects, including up to $1.4 million over 10 years for the hotel and up to $5 million over 25 years and a capital grant of $250,000 for the high-rise. The city also provided a grant of $21,600.
"The Hyatt Centric project is consistent with our commitment to explore conversions of downtown office buildings into new uses and the 308 Colony project will help address the urgent need for more affordable housing options in our city," Mayor Scott Gillingham said in the release.