Winnipeg’s skyline is in for a major change, after developers announced plans for a new highrise to go up in the downtown area.

On Wednesday, Fortress Real Development announced plans to construct a mixed-used tower at Garry Street and Graham Avenue.

"We want to make sure that the building is just iconic and becomes the post card shot," said Jawad Rathore, the president of the development company.

The site formerly held the Winnipeg Tribune building, but the location has long been used for parking after the building was demolished.

How will it stack up?

Winnipeg’s current tallest building, 201 Portage Avenue, measures 128 metres

The city’s second tallest, the Richardson Building, is just four metres shorter at 124 metres.

Toronto’s First Canadian Place rings in at 298 metres, while the tallest building in the world, in Dubai, measures a whopping 829 metres.

Now, developers say they plan to build the new tallest building in the city and fill it with condos, offices and retail space.

In April, Rathore said there would definitely be a grocery store in the building, despite the fact city developers have previously had trouble attracting grocers to the area.

The building is expected to be 42 storeys, with 70,000 square feet of retail space and 25,000 square feet of grocery store space.

"Tier 1 class, top-shelf, Class A grocers — we all know who they are," said Rathore.

The Ontario-based company has been courting major supermarket chains, but officials did not reveal which ones.

The highrise is planned to be the tallest building between Calgary and Toronto, but no conceptual drawings showing what it might look like were revealed on Wednesday.

Mady Development is currently overseeing architecture and design of the building.

Mady Development officials said they are still look at designs, and it’s possible it could end up being two towers.

The project is estimated to cost between $100 and $200 million, and developers hope to begin construction as early as 2014.

Mayor Sam Katz said the City of Winnipeg hasn’t been asked to offer any funding for the project, and he is pleased about the announcement.

"I’ve never seen anything of this magnitude before. Even in my term in office, this is a very large project," said Katz.

Developers have several more hurdles to jump through before the project can begin. They do not yet own the land. Once they have bought the parcel, they will begin looking for tenants.