Funding & Policy Terms#
Business Improvement Zone (BIZ)#
A defined commercial district in which property owners and businesses collectively fund supplementary services and improvements — such as marketing, street cleaning, beautification, and safety programming — through a special levy.
Why it matters: Winnipeg has several BIZs, including the Downtown Winnipeg BIZ, Osborne Village BIZ, and Corydon-Assiniboine BIZ. These organizations play an important role in downtown revitalization and neighbourhood commercial vitality.
Learn more: Downtown Winnipeg BIZ
Development Levy#
A one-time charge on new development to help fund the infrastructure costs — roads, water, sewers, parks — that the new development generates.
Why it matters: Winnipeg uses development levies to fund infrastructure in new greenfield areas. A key argument for infill development is that it generates levy revenue while using existing infrastructure, improving the city’s fiscal health.
Learn more: City of Winnipeg — Development Applications
Housing Accelerator Fund (HAF)#
A federal program administered by the Canada Mortgage and Housing Corporation (CMHC) that provides funding to municipalities in exchange for commitments to remove zoning barriers and accelerate housing supply.
Why it matters: Winnipeg’s 2025 city-wide infill housing zoning amendments were directly tied to HAF commitments. Mayor Scott Gillingham championed the HAF application, with the City receiving funding in exchange for allowing fourplexes as-of-right city-wide. The HAF also funded permit-fee rebates and affordable-unit grants for qualifying projects.
Learn more: City of Winnipeg — Housing Accelerator Fund | CMHC Housing Accelerator Fund
Portage Place Redevelopment#
A \$650 million mixed-use redevelopment of the 1.2-million-square-foot Portage Place mall on 6.4 acres of downtown Winnipeg land, acquired by True North Real Estate Development in November 2024. The project — beginning in 2025 — involves all three levels of government and the Southern Chiefs’ Organization (SCO).
Why it matters: Portage Place has been a struggling anchor mall since its opening in 1987. Its redevelopment into a healthcare tower, residential tower, community centres, and retail/food services represents the largest single investment in downtown Winnipeg’s history, and is expected to reshape the city’s core by 2028.
Learn more: True North Acquires Portage Place | Heritage Winnipeg — Portage Place Update
Tax Increment Financing (TIF)#
A public financing method that captures the increased property tax revenue generated by a new development and redirects it to fund public infrastructure in that area, rather than flowing to the general tax base immediately.
Why it matters: Winnipeg has used TIF-like mechanisms for major downtown projects. True North Square received infrastructure support partly through this mechanism. TIF is a common tool for catalyzing development in areas that require public investment to become viable.
Learn more: City of Winnipeg — Downtown Development
True North Square#
A completed mixed-use development in downtown Winnipeg’s Sports, Hospitality, and Entertainment District, featuring two office/residential towers, 194 residential suites, 14 floors of office space, and the Hargrave Street Market. Built to LEED Gold certification and developed by True North Real Estate Development.
Why it matters: True North Square is the most significant downtown development completed in Winnipeg since the early 2000s. In March 2024, Wawanesa Mutual opened its new national headquarters in the complex, bringing 1,300 employees downtown. The development demonstrated that major private investment in downtown Winnipeg is viable.
Learn more: True North Square — Perkins&Will | Wawanesa HQ Opening
Wehwehneh Bahgahkinagohn#
The Southern Chiefs’ Organization’s major redevelopment project involving the former Hudson’s Bay Company downtown Winnipeg store — a landmark building adjacent to Portage Place. The project is focused on Indigenous economic reconciliation and revitalization of the downtown core.
Why it matters: Winnipeg has the largest urban Indigenous population of any Canadian city. The Wehwehneh Bahgahkinagohn project represents a significant step toward Indigenous-led economic development in the heart of the city, in partnership with the federal government.
Learn more: Federal Investment Announcement
Last updated: March 2026