The Value of Investing in Canadian Downtowns - International ...
The Value of Investing in Canadian Downtowns - International ...
The Value of Investing in Canadian Downtowns - International ...
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Data Collection Process<br />
From the outset it is critical to acknowledge that the project team faced significant challenges <strong>in</strong> the compilation <strong>of</strong> a<br />
complete set <strong>of</strong> capital projects data for the City <strong>of</strong> W<strong>in</strong>nipeg. <strong>The</strong>refore the team utilized a methodology to present<br />
capital projects data that differs from the other case studies. More specifically the capital projects map is based on<br />
lists <strong>of</strong> major capital <strong>in</strong>vestments that were compiled by Economic Development W<strong>in</strong>nipeg Inc (2001-2009) and the<br />
Downtown Trends, Downtown W<strong>in</strong>nipeg Market Research 31 (2005-2009). <strong>The</strong> team identified downtown projects<br />
from both lists that were <strong>in</strong>stitutional and/or public projects. Additionally, the team <strong>in</strong>cluded a couple <strong>of</strong> significant<br />
projects from 2011 that they were made aware <strong>of</strong> through the the <strong>in</strong>terview process. This data has some limitations<br />
as it fails to capture smaller scale <strong>in</strong>vestments i.e. social programs, small scale public realm upgrades and/or<br />
undertak<strong>in</strong>g a detailed plann<strong>in</strong>g process etc. In addition, there were <strong>of</strong>ten discrepancies between the two sets <strong>of</strong><br />
data, <strong>in</strong> which case the project team utilized the Economic Development W<strong>in</strong>nipeg Inc data.<br />
Moreover this approach fails to account for the municipal proportion <strong>of</strong> <strong>in</strong>vestment; rather it captures the total value <strong>of</strong><br />
public capital <strong>in</strong>vestments. However, given the data limitations faced, this approach is considered optimal for ga<strong>in</strong><strong>in</strong>g<br />
a prelim<strong>in</strong>ary spatial understand<strong>in</strong>g <strong>of</strong> where, when and how much is be<strong>in</strong>g <strong>in</strong>vested <strong>in</strong> public and quasi public<br />
facilities over the past decade <strong>in</strong> downtown W<strong>in</strong>nipeg.<br />
Summary <strong>of</strong> Public Investments<br />
Project<br />
<strong>Canadian</strong> Museum for Human<br />
Rights<br />
Year<br />
Total<br />
Investment<br />
Project<br />
Year<br />
Total<br />
Investment<br />
2009 $180,000,000 Indoor Walkway System Expansion 2009 $8,700,000<br />
True North Project 2002 $125,000,000 Central Park Redevelopment 2009 $5,600,000<br />
Red River College – Cul<strong>in</strong>ary<br />
Institute<br />
2011 $27,000,000 Manitoba Children’s Museum 2011 $10,000,000<br />
United Way Build<strong>in</strong>g 2009 $9,500,000 CanWest Centre for <strong>The</strong>atre and Film 2009 $5,500,000<br />
Millennium Library 2005 $20,700,000 West End Cultural Centre 2009 $3,500,000<br />
Sport Manitoba Sport for Life<br />
Centre<br />
University <strong>of</strong> W<strong>in</strong>nipeg<br />
Plug In Institute <strong>of</strong> Contemporary<br />
Art<br />
2009 $15,000,000 Millennium Library Park 2008 $2,100,000<br />
2003-<br />
09<br />
$13,000,000 <strong>The</strong> Forks Skate Park Plaza 2006 $1,800,000<br />
2009 $12,000,000 Old Market Square 2009 $1,750,000<br />
Upper Fort Garry Gate 2009 $10,300,000 TOTAL $451,450,000<br />
31<br />
Downtown W<strong>in</strong>nipeg Biz. (2011). BIZ Trends 2010-2012. Retrieved from:<br />
http://www.downtownw<strong>in</strong>nipegbiz.com/resource/file/DBIZ_Trends_2010.pdf. Accessed 2011<br />
November 29.<br />
125