This year, $284,000 in grants are available to downtown property owners in the City of Medicine Hat’s Downtown Development Incentive Program (DDIP).
Eligible property owners can qualify for up to $50,000 in grants towards a renovation or a new build. This includes commercial developments, multi-purpose buildings and multi-family dwellings.
“The results of this program are plain to see,” said Mayor Ted Clugston, noting that every $1 invested by the City has netted $10 invested by the private sector.
Indeed, the redeveloped properties are attracting new businesses to the downtown area.
FWBA Architects, a Lethbridge-based company, moved into the newly renovated Hutchinson Block in 2016.
Built in 1911, the building was a retail landmark in the city’s downtown. But from 2014 to 2016, it was transformed into sleek office space by developer Aaron Burghart, catching the eye of Lethbridge-based FWBA architects.
“We wanted to move into a vibrant place that is located in the heart of the community,” said David Cocks, a principal at FWBA Architects.
Burghardt, who owns the Hutchinson Block, found the DDIP helpful in completing the intensive renovation.
“Financial institutions are more confident in investing in you when the city has your back,” he said.
For more information about the DDIP, and to apply, contact Sandra Blyth, business support officer with the City of Medicine Hat at firstname.lastname@example.org or visit https://www.medicinehat.ca/index.aspx?page=920.