Winnipeg could be offering about $9.7 million in tax breaks for redevelopment of the former Hudson’s Bay building in the city’s downtown.
The historic building was transferred to the Southern Chiefs’ Organization (SCO) in April.
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Downtown landmark to get new life as Winnipeg Hudson’s Bay building transferred to Southern Chiefs
A report to the city’s executive policy committee recommends tax incentives worth $387,000 a year for 25 years.
The federal government has pledged $65 million toward the redevelopment project, while the province of Manitoba is chipping in an additional $35 million.
The downtown landmark, located at 450 Portage Ave., is to be redeveloped to include almost 300 affordable housing units, as well as a child care centre, a museum, an art gallery and restaurants.
A health centre that focuses on both western and traditional medical practices is also planned, among other initiatives.
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Vacant Bay store in downtown Winnipeg to be used in part for affordable housing: sources
The prominent location was the Hudson Bay Company’s flagship store when it opened its doors in 1926.
The six-storey, 655,000-square-foot department store closed in November of 2020, causing much speculation about its eventual fate — especially after it was given a $0 valuation in 2019.
— with files from Global New’ Sam Thompson
