A pair of developers want to see a mixed residential development added in and around shops and businesses in the Polo Park area.Cadillac Fairview, which owns Polo Park mall, and Towers Realty Group, have submitted separate proposals to the city outlining their plans and requesting amendments to the Airport Vicinity Protection Area, which restricts residential construction near the airport.Development at the former stadium site and surrounding area stalled after American retailer Target pulled out of Canada in 2015.Cadillac Fairview’s proposal focuses on the area of Polo Park and the former stadium site and would be similar, although less dense, to a project the company is developing in Richmond, BC, according to a letter of intent filed with council’s property and development committee.
Cadillac Fairview’s proposal focuses on the Polo Park area and the former stadium site.Submitted by Cadillac Fairview
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The Richmond project includes 12 towers, 1,900 residential units and a central plaza that connects parking, shopping, and residential.Cadillac Fairview’s proposal notes the retail landscape at Polo Park is “close to saturation” and suggests the addition of residential would help “balance the mix of uses, and ultimately result in more employment and further growth potential.”Cadillac Fairview also notes potential tax revenue from residential development at the site could be used by the city pay to help pay off the costs of building IG Field.Towers Realty’s proposal is focused on the west side of St James Street, south of Sargent Avenue and north of Portage Avenue and includes what it’s calling a mixed-development.The company said it has 18 properties its targeting for development.
Towers Realty Group has targeted 18 properties for development along St. James Street.Submitted by Towers Realty Group“We envision an area that has the capacity for residents of Winnipeg employed by the service sector and surrounding businesses to walk to work or utilize the public transit in the area,” reads Towers’ proposal.“We envision them being able to work, live and enjoy the entertainment industry in the St. James area.”Councillors on the Property and Development committee will consider the companies’ proposals at their Sept. 4 meeting.If the proposals pass that first hurdle, the projects will require further land use approval processes, including rezoning and possible subdivisions.RELATED VIDEO: CF Polo Park instals charging station for electric cars