The CBC reports that the City of Winnipeg has made an enticing offer to any interested private company: a 1,000-stall parkade under the city’s most famous intersection can be theirs.
The city’s infrastructure renewal and public works committee voted Tuesday to ask the private sector for expressions of interest on the Winnipeg Square parkade, worth an estimated $20-and-$50 million.
“It’s a prime piece of downtown real estate, and you can go up pretty high there,” one councillor told CBC reporters. Last year the three-storey parkade earned $1.7 million, after expenses. But the real “gold mine,” as one councillor referred to it, is the land above the structure: an empty lot that could be developed. The committee’s decision doesn;t mean the land is for sale; that move will only be made once the private sector has been surveyed and more research is done to assess value.
