Convention centre to open January 2016

An opening date has been set for the new trade and convention centre in downtown Halifax, according to a memorandum of agreement between the city and the province.

The Argyle Street complex is expected to open in January 2016.

The Halifax Regional Municipality is set to approve an agreement with the province that could seeconstruction start on the new convention center, hotel and office tower later this year.

After months of delays the price of the $164 million project has increased by $5 million, but the federal government is covering the added cost.

The city and province will cost-share the convention center lease, with an option to buy the building for $1 after 25 years.

Some of the money for the centrewill come from new property taxes generated by an 18 story hotel, an office tower, and stores that are part of the larger complex located on two city blocks.

But if those buildings are not finished when the convention center opens, the city can defer part of its annual payment for10 years.

Developer Joe Ramia is alsooffering $5 million worth of credit that can be drawn upon.

The provincehas asked the municipality for a $40,000 contribution toward a new marketing campaign to promotethe complex.