Winnipeg's downtown skyline is growing with the addition of a 40-storey skyscraper — the tallest building in the city — near Portage and Main.

The building proposed for 300 Main Street, at Graham Avenue. (Artis REIT) The $165-million tower will be located a block away from the iconic corner, at 300 Main St. and Graham Avenue. The upper floors of the building will be residential with the lower portion set aside for retail and office space.

In comparison, the city's two best-known skyscrapers — the Richardson Building and 201 Portage — are both 34 floors tall.

Construction of the new skyscraper will begin in February 2017 with occupancy by 2019.

Brent Bellamy, an architect with Number TEN Architectural Group, said the project shows confidence in Winnipeg and growth in the city.

"I think it will bring investment and sort of a new attitude to Winnipeg. When the Jets came back, there was a new attitude shift. We're seeing this tower being proposed because of that," Bellamy said.

The plan was unveiled Thursday by Artis REIT, a commercial real estate investment trust that owns the nearby Shops of Winnipeg Square (the underground retail concourse) and the 30-storey office tower at 360 Main, among several other properties within a small radius of that area.

Artis REIT will also spend another $26 million to give its 30-storey tower, which was built in 1979, a facelift with a new exterior. A redesign of the front entry of the office building will also take place.

Artis REIT unveils plans for 40-storey skyscraper and renewal of 360 Main tower. 3:27 The new tower is the second major downtown development announced this year.

In January, True North Sports and Entertainment announced plans for True North Square, a $400-million mixed-use development near MTS Centre.

A luxury hotel, flagship liquor store, a grocery store, public plaza, and four towers with more than a million square feet of space will be part of ​the project, which is already under construction.

The province and city are teaming up to invest $17.6 million in creating the two-acre plaza, which will include a skating rink, public stage, and green space.