Mr. Speaker, I am gratified that after years of hard work and negotiations that began between the former federal government and the government of New Brunswick and the city of Fredericton, our community will be home to a new downtown convention centre.
The centre will accommodate 1,500 people. The 66,000 square foot building will include a six storey office complex as well as two parking garages with a capacity of 750 vehicles.
I am pleased that the federal and provincial governments will cover a combined third of the total cost of the $24 million project. I particularly commend the city of Fredericton for pledging $16 million, the remaining two-thirds.
This kind of investment is crucial to development in downtown Fredericton. Not only will it showcase our city and enhance business and employment opportunities, but the new convention centre will also have a positive economic impact on all of New Brunswick.