A towering $165 million development will add to Winnipeg’s most famous intersection.
Real estate firm Artis REIT announced Thursday the construction of a 40-storey apartment tower near Portage and Main.
The developer says 36 floors will be residential use, while four floors will be dedicated to commercial and amenity space.
Construction at 300 Main Street is expected to take only three years and will also include a $25 million facade upgrade to the firm’s other office tower at 360 Main Street.
Armin Martens, president and CEO of Artis REIT, said the project will not see any civic or provincial government funding.
The Winnipeg Construction Association estimates work on the two towers will create approximately 700 person-years of employment, or on average, about 350 construction workers will be employed full-time during the two-year build period.
The tower will be Winnipeg’s tallest once complete.