The WTCC was championed by then-Premier
John Buchanan who boasted to reporters in 1981 that the new facility would serve as a scaled-down version of the famous
World Trade Center in
New York City, eventually becoming the economic and business capital of
Atlantic Canada. An opening ceremony was held on 24 February 1985, for 1,200 invited guests. Buchanan stated at the time that the centre would generate revenue in "the near future", but the WTCC and Trade Centre Limited have routinely operated at a deficit over the years. As a result, TCL is working with a private developer, Rank Inc., to develop a new convention facility. The
Halifax Convention Centre is located within the nearby
Nova Centre, which opened in 2017. In March 2016 the province announced the signing of a 25-year agreement with the developers of the Nova Centre. The WTCC will hence be offered up for sale to private interests for $13.5 million. The Halifax Regional Municipality declined to purchase the complex from the province. In August 2016, it was announced that the province would sell the building to Halifax developer George Armoyan for $13.5 million. With funding from the federal, provincial, and city governments, the building is being redeveloped to house a cultural centre with a 1,800-seat performance hall, a cinema, dance studios, media production studios, and office space for non-profit cultural groups. The exterior was to be renovated to house new shops and restaurants, intended to enliven this part of Argyle Street, but developer Armco instead signed a 10-year lease with the federal government. The ground-level commercial spaces will house
Service Canada. ==Characteristics==