What Winnipeg's Exchange District will look like in 20 years

The Exchange District Biz has released a 20-year strategy aimed at transforming the area into a vibrant, urban neighbourhood.

The organization unveiled the strategy on Wednesday, saying it includes a set of development ideas to help the neighbourhood grow.

David Pensato, executive director of the Exchange District BIZ, emphasized that this is a strategy as opposed to a step-by-step plan.

“What this really does is confidently show the direction is good, the type of revenue projections are good,” he said.

“This then needs to come together into a series of smaller, specific plans.”

The blueprint, which is built on the Exchange District Plan 2022, sets out 28 foundational projects in key areas that include innovation; walkable and lively streets; residential development; and public transit.

Some of the projects include restoring current structures, creating new developments, and increasing residential units.

According to the Exchange District BIZ, modelling of the strategy shows a property tax uplift of $103.5 million and a business tax uplift of $5.7 million. The organization adds that the strategy is expected to bring in an additional 11,000 residential units, which would increase the population by about 15,000.

“It’s about taking the opportunities as they come,” Pensato said.

“Certainly developing and committing to the strategy and the overall principles is the first step. Then working with the city and with the key stakeholders on establishing what the priority list is, is next.”

The strategy will be presented to the Standing Policy Committee on Property and Development on Nov. 22. If approved, it will move to the executive policy committee on Dec. 5 and then a full council vote on Dec. 14.

Pensato said he’s confident the strategy will get through city council.