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Regina’s Railyard Renewal Project receives $33.6 million in funding

Regina’s Railyard Renewal Project receives $33.6 million in funding

November 27, 2018

On Friday, an announcement was made that the city, provincial and federal governments will each chip in $11.2 million (totaling $33.6 million) toward Regina’s Railyard Renewal Project that aims to provide a diversity of housing in the area.

The $500 million project was initially announced in 2015 following the city’s acquisition of the former CP rail yard off Dewdney Avenue in 2012.

According to CBC News, the money announced will be put toward cleaning the site up, along with upgrades to Dewdney Avenue’s sidewalks and a pedestrian bridge to connect the warehouse district with the city’s downtown core.

Despite the current climate of Regina’s housing market, the city claims high vacancy rates is only a temporary issue as they plan on having a population of 300 thousand people in the near future.

Early stages of the revitalization project are expected to start next year, with development expected to be completed in 15 to 20 years.

 

Photo Source: City of Regina

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RE/MAX Admin

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