A Generational Vision for Regina

REGINA, April 19 /CNW/ - Today, Mayor of Regina Pat Fiacco released a new vision for the future of prime property in the heart of the city.  The subject of the vision is 53 acres that includes the CP container yard lands (32.91 acres) on Dewdney Avenue and city-owned lands that encompass Mosaic Stadium at Taylor Field (20.14 acres).

Under the vision, large private sector investment would be made in retail, commercial, entertainment and residential development on the two properties.

"There are few chances in the history of a city, like we have today, to make such a positive impact on the future of Regina," said Mayor Fiacco.  "With this vision, the private sector will play a major role in this development."

The vision, known as Regina Revitalization, is sparked by the fact CP Rail will be moving their Dewdney Avenue container yards to the Global Transportation Hub (GTH), on the city's west side, in the year ahead.  In addition, the nearly century old Mosaic Stadium is well past its life cycle and is in need of millions of dollars of capital upgrades.

The first phase of the vision would see the CP lands developed. This would include investment in retail, commercial, and condo development.  It would also include a new entertainment facility that would be the home for arts, culture, entertainment, trade as well as amateur and professional sport.  This development will also improve the connectivity between the warehouse district and downtown core.

"I know there has been a lot of attention in the past about a new entertainment centre, but this project is about so much more and we will work with our private and public partners to determine what is best for Regina," said the Mayor.

In the second phase, the Mosaic Stadium property would be re-developed.  On the approximately 20 acres is the potential for almost 700 new residential units of various types.  In addition, the development of more than100,000 square feet of commercial space as well.

"The need for good quality mixed housing is immense," said Mayor Fiacco.  "Under this vision, we can take advantage of our existing infrastructure, revitalize one of our oldest neighbourhoods, and help build good quality lives for all Reginans."

Mayor Fiacco announced the first step to realising the vision will be the creation of Regina Revitalization Inc. This corporation will be responsible for every aspect of carrying the vision forward.  Details around its structure, etc will be released in the coming weeks.

SOURCE City of Regina

For further information:

Media contact only:
Mark Rathwell
Senior Advisor to the Mayor

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City of Regina

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