Winnipeg City Councillor Kevin Klein serving Charleswood-Tuxedo-Westwood
Wednesday Councillor Kevin Klein (Charleswood-Tuxedo-Westwood) released details of an amending motion in an effort to secure the proposed sale and development of Portage Place Mall.
Klein said he learned that the development group, Starlight, had provided a detailed list of benefits for the City of Winnipeg in March of 2020. The Public Service did not share that information package with all members of the council, and that is unacceptable given the importance of this investment into our City.
Read the Starlight proposal, click below..
"Over 20 investors inquired about Portage Place Mall," Klein said. All of them walked away without making an offer on mall. We (the City) need to be realistic in our expectations for this property.”
There are significant economic benefits:
$12M of annual new consumer spending.
Person-years of employment: construction and development 3,343; on-going operations 3,082
$411M of wages and business earnings, $698M of economic activity- construction and development
$3.6B in new economic activity over 10 years from on-going operations; $325M in GDP during construction and development
Councillor Klein explained that the City of Winnipeg has made deals with companies to attract downtown development in the past, some worked, and some did not and some well over $20 million. Klein added that several major cities across North America offer incentives to attract development, it's nothing new, it's necessary to compete in today’s competitive global environment.
We need to have a vision for our City and our downtown. I see this development attracting more businesses and people year after year, paying dividends to the City for decades to come.
What happens if Starlight walks and the Portage Place is boarded up? That I venture to say will cost our City much more than $20 million.
This development will bring the needed change to Downtown Winnipeg and the benefits easily far out way the financial request. I urge my colleagues to consider the future of our City and support this amending motion on Thursday at City Council.