New development for Exchange District now officially under construction

A development in the heart of Winnipeg’s Exchange District has broken ground.

Work is now underway on Market Lands, located at the former site of the public safety building on Princess Street and William Avenue.

Several pieces of heavy equipment could be seen Tuesday afternoon doing the early preparations for the site. Market Lands Inc. President Jeremy Read said construction officially began on Jan. 20.

“Twenty-four months from now, we expect to have occupants in the building,” he said.

The plan for the site includes a tower with about 100 units of mixed-income housing and a creative hub where four arts organizations will reside.

“There’s a use caveat from the original donors of the land to the city that stipulates these lands need to be used for some public purpose,” Read said. “So in this instance, the public purpose is providing the affordable housing and also a home to arts organizations.”

Market Lands will also feature public spaces and a second building centred around food produced by smaller producers. That portion is expected to be completed in the fall of 2026.

Read said he hopes the building will help revitalize the area.

“Our hope is that this building contributes to the life of the Exchange, the well-being of the Exchange, and provides good quality and affordable housing to Winnipeggers who need it.”

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