Iqaluit (Jun 12/06) - Mike Mrdjenovich saw an opportunity for a new building in Iqaluit and he jumped on it.

That opportunity was to build a hotel and conference room complex downtown and the results will be evident by next January when the facility opens.

The Nova Centre will consist of 76 suites along with three conference rooms, an exercise room, a restaurant and a lounge.

With a price tag between $10 million and $11 million, the Nova Centre will be a quality, clean, upscale hotel, said Mrdjenovich, the owner of Nova Builders. "On a scale of one to 10, we're going for a seven to eight for this hotel."

Tourists should be able to expect a high-quality hotel when they pay top-dollar to stay in the North, he said.

While no pricing has been determined yet, Mrdjenovich said, "rates will be similar or a bit lower compared to other hotels in Iqaluit."

The Nova Centre will be built directly across from the Legislative Assembly, he said, adding business travellers will be within walking distance of all of the downtown buildings.

Construction is expected to begin within the next few weeks with an anticipated workforce of about 20-30. It will take approximately eight to nine months to build the complex and Mrdjenovich hopes to have it open as soon as late January.

The new hotel will incorporate Iqaluit's name into the look, said Ambrose Livingstone, owner of Livingstone Architect which designed the Nova Centre.

Iqaluit means "place to fish" said Livingstone, adding the front part of the building will incorporate a fish design.

Any new lodging capacity in Iqaluit is always a good thing for tourism, said Brian Webb, marketing director with Nunavut Tourism.

"It gives more of a choice for people travelling to Iqaluit," he said. "People have seen the plans and are excited."