Developer Joe Ramia announced that his Halifax convention centre project is a go, to a standing-room-only crowd of businesspeople and politicians from all three levels of government.

Ramia received a standing ovation Thursday.

While the convention aspect has been the most talked about, Ramia said he's excited about the other aspects of the project, which will be located on the former Halifax Herald Ltd. site on Argyle Street.

The $500-million project, which has been in the works for four years, will include a convention centre, residential space, a hotel, parking garage and a financial office tower.

Ramia's Rank Inc. is not expected to sign an official 25-year lease with its principal tenants, the municipal and provincial governments, until November, but there is a memorandum of understanding.

The convention centre is set to be built at the former site of The Chronicle Herald. (CBC)

Site preparation work will take place before the end of August, with construction expected in the spring.

Before then, there will be a public consultation process.

"Since releasing our preliminary design we have heard a lot of feedback from Nova Scotians, and we are listening. The designs are evolving as a result of this feedback," said Ramia.

Rank has hired the consultant behind the Halifax Public Library public consultation, and plans to hold 11 sessions in the city and around the province.