Winnipeg city council has approved a plan to give $10,000 incentives to anyone who buys a new condo in the Waterfront-Exchange area.
There are 230 grants available.
The city's development wing CentreVenture said the incentives are needed because there is more supply than demand right now.
The $7.8 million initiative that will use future property tax revenue from the downtown area also includes plans to upgrade sidewalks, lighting and safety in the area. The hope is that will draw more retail including a grocery store to the Exchange.
But the city finance chair Coun. Russ Wyatt (Transcona) was one of three councillors who voted against the plan saying with the budget shortfall the city is facing, he can't justify the incentives.
