AMERICAS - A new convention centre in downtown Halifax, Canada is expected to open in January 2016, according to a memorandum agreement between the city and the province.

The Halifax Regional Municipality is set to approve an agreement with the province that could see construction start on the Argyle Street Complex, which includes the convention centre, a hotel and office tower, later this year.

After months of delays the cost of the US$160m project has increased by $4.9m, with the federal government covering the added cost.

New property taxes generated by an 18-storey hotel, office tower and shops that are part of the larger complex located on two city blocks, will contribute to the extra $4.9m. The city can defer part of its annual payment for 10 years if these buildings are not finished when the convention centre opens.

Developer Joe Raima is also offering $4.9m worth of credit that can be drawn upon.

Do you have a news story for CMW? Email: zvernor@mashmedia.net