Formal Plan announced for Regina Revitalization Project

REGINA, May 27, 2011 /CNW/ - Today the City of Regina announced the next steps toward realizing a generational opportunity to redevelop 53 acres of land in the heart of Regina.

The areas involved include approximately 33 acres which is the current CP Rail yards, and approximately 20 acres which includes Mosaic Stadium at Taylor Field.

A small business unit within the City Manager's Office will develop project plans, engage stakeholders and investors, and manage the work involved in moving the initiative forward in this initial stage. The unit will consist of 2-3 staff dedicated to the project and will draw on expertise from internal City staff as well as consultants and outside experts.

On April 19th, Mayor Pat Fiacco released a vision for redeveloping the land, which includes transforming the current Mosaic Stadium site into a mixture of housing, commercial and retail opportunities, and development of the CP land to include a new multi-purpose entertainment centre, as well as commercial and retail space.

"This project will be by far the biggest inner-city re-development initiative in Regina's history," Mayor Pat Fiacco said. "Turning the vision into reality is complex, but it will pay huge dividends for our entire community."

As part of the next steps, the initiative will be staged into three phases:

  • Phase one involves further defining objectives and governance for the redevelopment initiative;
  • Phase two includes detailed planning for both the CP Rail and Mosaic sites, and planning for the new entertainment centre. It also includes securing funding through private sector investment and public sector involvement;
  • Phase three includes construction of the entertainment centre and development of the property surrounding the facility, as well as residential and commercial development on the Mosaic site.

"This model allows the project to proceed more quickly," City Manager Glen Davies said. "In the future, as we get closer to implementing the plan, we will look at establishing a separate corporate entity to take over the planning and management of the project."

Since the vision was released, the City has initiated discussions regarding purchase of the CP land, and has engaged the firms of Deloitte and Dialog to provide expertise in finance, planning and public/private partnerships.

The City Manager will report back to Council in August, 2011 with a detailed project plan. Over the next year, a secondary plan will be developed that will describe how the land will be used, what amenities such as parks and green space will be included, and identify required infrastructure such as streets and sidewalks.

Planning and implementing a project of this magnitude is a long and complex process. The entertainment centre is a top priority and is being treated as a project within the larger initiative. A proposed timeline would see site preparation and construction on the entertainment facility beginning in late 2012, with completion by the end of 2015. Development of the remaining CP land would begin in 2013. Development of the current Mosaic site would begin in 2016.

While the City is currently leading the initiative, informal partnerships with the Province, the Saskatchewan Roughriders and the Saskatchewan Sports Hall of Fame continue to exist. A budget of $500,000 has been requested to fund the work to start the plan. The Provincial Government has agreed to cover half of the request.

SOURCE City of Regina

For further information:

Media contact only:

Jeff Bohach

Communications Branch

777-7919

News Releases are available at Regina.ca


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