The skyline in Winnipeg is about to change. A new 20-storey highrise will be built across from the MTS Centre.

Developers say the tower will include a three star hotel called The Alt, with a 450 spot parking garage.

Jeoff Chipman, a developer, says the first 12 floors will hold office and retail space with a bar and grill planned for the first floor.

"Probably a national chain I'd believe, although we've had some recent interest from sports bars," says Chipman.

Developers say they hope the new highrise will lure people downtown. The announcement of the NHL returning to Winnipeg doesn't hurt either.

The project has been in the works for more than a year. Those with stakes in the project say having the Jets play right across the street can only help them in succeed.

The building will incorporate the facade of the heritage bank building on the corner of Donald Street and Portage Avenue.

"It's going to be part of the entranceway to go into the building, so we think it has a significant heritage component," says Chipman.

Demolition for the heritage bank building is slated to start in the fall with the $75 million project set to open late 2013.

- With a report from CTV's Laura Lowe