Halifax’s once thriving downtown still struggles to attract businesses and customers. But several elements are converging to help the largest city on the East Coast once become vibrant again.

One is that Halifax – or, more properly, the Halifax Regional Municipality (HRM) – is focusing its efforts on the issue. Two public-engagement sessions were held recently to explore options for revitalizing both downtown Halifax and neighbouring Dartmouth. Hundreds of residents turned out to share ideas, and to vent.

HRM Mayor Mike Savage attended the public sessions. He’s pushing for the city to capitalize on its strengths, including arts, culture and entrepreneurship. The hedge fund industry, in particular, has been driving change for at least a decade by using the city for its back-office operations. Industry players are drawn by the lower wages and skilled workforce.

Other financial services sector firms are setting up shop in the HRM for the first time. Last year, for example, San Francisco-based fund administrator Conifer Fund Services LLC announced it was opening a fund-administration office in Halifax as part of its strategy to grow in North America. According to the company, Halifax was selected over competing locations based on Nova Scotia’s nearshore outsourcing advantages, including cost, proximity to clients in the U.S. and access to skilled talent.

More building is required, however. Many local businesses are waiting with fingers crossed for the opening of the city’s new convention centre in 2016. The biggest development in Nova Scotia’s history, the new centre will boast more than 120,000 square feet in the heart of downtown, including a 30,000-sq.-ft. ballroom overlooking the city and 40,000 square feet of exhibition space.

Rand Gaynor, owner of Drala, one of the city’s most popular gift and specialty shops, is hopeful that visitors will help to create both more business and a sense of busy-ness in what often is an ominously quiet downtown core.

Ken Greenberg, former director of urban design and architecture for Toronto, who recently spoke in Halifax, contends that several factors are coming together to make downtowns in general more attractive to businesses. Among other groups, younger people, who want to be closer to work and fun, and desire walkable lifestyles that require less reliance on cars.

Shifting people and businesses from the outskirts to the inner workings of Halifax will require more than bike lanes and visiting conventioneers, however.

Mayor Savage acknowledges the need to get the economic infrastructure in place: “We need to have a look at how our taxation system works in a downtown core. We need to make sure our development processes are aligned with economic growth.”

One thing is certain. The issue is not going to dissipate anytime soon. The 2013 City Matters survey, sponsored in part by the Greater Halifax Partnership, found that more than 80% of survey respondents said revitalizing the downtown is “important” or “very important.”

Businesses in the city’s downtown couldn’t agree more.

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