The old Winnipeg Arena, which has been sitting vacant for years, may soon have a new purpose as a year-round farmers market. However, this transformation comes with a hefty price tag of $5.4 million.
According to a report by the City of Winnipeg, the cost to repurpose the arena into a farmers market would include $3.4 million for renovations and $2 million for operating costs over the next five years. This estimate was presented to the city’s executive policy committee on Wednesday.
The proposed plan would see the arena transformed into a 50,000 square foot market space, with vendors selling fresh produce, meats, and other locally made goods. The market would also include a food court and space for community events.
City officials believe that this project would not only revitalize the old arena, but also provide economic benefits to the surrounding area. It is estimated that the market would generate $1.5 million in annual revenue and create 50 new jobs.
However, some city councillors have expressed concerns about the high cost of the project. Councillor Scott Gillingham stated that the city needs to carefully consider the financial implications before moving forward with the plan.
The city will now conduct a feasibility study to determine if the project is viable. This study will also explore potential funding sources, such as grants and partnerships with private businesses.
If the project moves forward, it is expected to take two years to complete. The city hopes to have the market up and running by 2023.
The old Winnipeg Arena has been a landmark in the city for decades, and this proposed transformation could give it a new lease on life. However, with a price tag of $5.4 million, the city must carefully weigh the costs and benefits before making a final decision.
