Representatives of the three levels of government officially opened the city's Waterfront Drive Project at ceremonies held today. At the ceremonies, Centre Venture (the City's arms-length development agency) announced four new residential/commercial development projects totally over $45 million, slated for Waterfront Drive.

"Winnipeg's rivers have historically brought trade and visitors to our city's core, now Waterfront drive shares that role, and acts as the gateway to the Forks and our exciting Exchange district," said Premier Gary Doer. "This long neglected riverfront property will now bring new life to our capital city's downtown."

"Waterfront Drive is yet another positive investment in downtown Winnipeg," said the Honourable Reg Alcock, President of the Treasury Board on behalf of the Honourable Stephen Owen, Minister of Western Economic Diversification and Minister of State (Sport). " This improvement project, along with the MTS Centre and the Centennial Library, are catalysts for development and growth and will surely strengthen the social, economic and environmental vitality of the downtown area."

"Waterfront Drive has met and exceeded our expectations," said Mayor Sam Katz. "We're bringing Winnipeggers back to a beautiful waterfront playground, and today's announcement of four major residential/commercial developments proves that a wise investment of public money from the city and our partners at the federal and provincial level has been the required catalyst to spur significant private sector investment in the area."

In announcing the new developments, Chuck Loewen, Chairman of Centre Venture's Board of Directors said, "We're confident the projects announced today will be a very positive factor in establishing the East Exchange as a neighbourhood of choice, where people will be proud to live, work and play."

Situated in the historic East Exchange area the drive stretches from Lombard Avenue north to Higgins Avenue. The project incorporates a landscaped roadway, ornamental lighting, and a redesigned and enhanced Stephen Juba Park along the Red River. The park features an extensive multi-user path system, open areas and several new public art works by local artists. The roadway is designed to promote slow movement of traffic through features like Winnipeg's first traffic circle at the Bannatyne Avenue intersection.

The $9.1 million project was funded by the governments of Canada, Manitoba and Winnipeg through the Canada-Manitoba Infrastructure Program.

For additional information, contact:

Mark Gale
Communications Manager
Western Economic Diversification Canada
Tel: (204) 983-6243
Winnipeg, Manitoba