$74.3M from Bridgwater Land Sales Re-invested into Winnipeg’s Inner-City
As of March, 2016, $74.3M* from land sales in the Bridgwater Neighbourhoods has been re-invested into revitalizing Winnipeg’s inner-city through the Province of Manitoba’s Housing Development and Rehabilitation Fund, set up by Manitoba Housing and Renewal Corporation (MHRC). Land sales occur when residents/homebuilders or commercial entities purchase land from the developer, MHRC.
MHRC’s land development portfolio includes the ongoing, multi-year development of the Bridgwater Neighbourhoods, a 1,400 acre land parcel in SW Winnipeg.
For complete details of MHRC’s land development activities, see Annual Reports – Housing and Community Development / Land Development It’s not clear in the annual reports how long MHRC plans to continue re-investing a portion of land sales into Winnipeg’s inner-city.
Excerpt from 2008– 2009 Annual Report: Under the newly enacted Housing Development and Rehabilitation Fund (HRDF), proceeds from MHRC’s suburban development (land sales in the Bridgwater Neighbourhood) will be directed towards revitalizing Winnipeg’s inner-city. This fund is expected to reach $14.5 million over the next four years.
*August 2017: “I can confirm that total amount reinvested in HDRF from the Bridgwater Neighbourhood is $74.3 million to March 31, 2016”. – Jaime Patrick, Director, Land Development, Manitoba Housing and Renewal Corporation