Five rental developments, including the revitalization of the James Avenue Pumping Station, are getting tax breaks.
The city and province are investing up to $32 million in future tax revenue that would have been generated by the new properties.
“As mayor, I’ve been a big proponent of finding ways to encourage more people to live downtown,” Mayor Brian Bowman said Friday.
“Making investments like this towards the future of our downtown will benefit our entire city and help foster a growing, thriving, more modern city of Winnipeg.”
There are 700 units set to be built in five locations, including 75 affordable suites.
Developers behind the pumping station office and residential project say without these grants, it would be difficult to repurpose heritage buildings.
The powerhouse, decommissioned in 1986, is more than a century old and was used to supply water for fires.
