The University of Winnipeg has unveiled plans for its $27-million apartment complex in downtown Winnipeg.

The 14-storey, 112,000-square-foot building will provide a variety of options for tenants across all income levels. Of the 102 suites, ranging from one to three-bedrooms in size, 46 will be geared at lower-income tenants. The remaining 56 will be offered at regular market rates, 16 of which will be considered premium units.

With financing from the Manitoba government, the project will have no impact on the university’s operating budget.

“This new building will be perfectly situated to provide a home for students from a variety of backgrounds and will add new richness to the growing downtown community,” says Housing and Community Development Minister Peter Bjornson. “It will create jobs, provide an economic boost for services in the area and build upon our partnership with UWinnipeg, which has changed the landscape of downtown Winnipeg.”

Construction of the complex will begin in early 2014, and is scheduled to be completed in fall 2015.