Urban Development Bank
The Urban Development Bank is a powerful CentreVenture resource that can be accessed to finance downtown development projects that qualify for assistance.
Urban Development Bank tools include bridge financing, mortgage financing, construction loans, loan guarantees, subordinated debt and, in some cases, equity participation for small and medium sized real estate developments.
The City of Winnipeg created an Asset Agreement that has given control of surplus City-owned properties in the downtown to CentreVenture. The goal is to make these properties – present and future – a contributing part of downtown revitalization.
When the Urban Bank helps a project achieve success or sells a surplus property, earned interest and profits are cycled back into the bank to help replenish reserves and create the opportunity for new development loans.
CentreVenture can also help developers explore partnering with traditional lenders like banks and credit unions.
If you’d like to find out more about the Urban Development Bank, you can write, e-mail or call CentreVenture.