WINNIPEG – The potential True North Square multi-use development’s future downtown remains on hold as a deadline for the project was extended for a second time.
Downtown development agency CentreVenture has extended until May 15 a deadline to finalize the purchase price and development plan for a piece of downtown property that would be part of True North Square. The previous deadline was Monday.
Jets owner Mark Chipman planned to build a $400-million development on Carlton Street that would include towers housing a hotel, retail and residential space.
However, Chipman put those plans on hold in January after Mayor Brian Bowman said CentreVenture, the city’s development agency, didn’t follow proper processes before it signed a contract with True North Sports and Entertainment to create the development.
“There is getting it done, and there is getting it done the right way,” Bowman said in January. He called the deal “not cool.”
Chipman angrily refuted Bowman’s suggestion that it was a “backroom” deal, and showed a video of the proposed development that Chipman said the mayor had been shown in November and knew all about.
Part of True North Square would be built on the site of the former Carlton Inn, which was bought by CentreVenture to allow development of a four-star hotel to complement the in-process expansion of the Winnipeg Convention Centre.
READ MORE: CentreVenture forced to back down on True North development deal
City council in January voted to direct CentreVenture to invite other bids to develop the land or risk losing $3.75 million from the city to offset the cost of buying the old Carlton Inn and tearing it down.
Originally CentreVenture gave True North until the middle of February to finalize a purchase price and development agreement for the Carlton Street site, but True North asked for a six-week extension until March 30. That deadline was today extended to May 15.
True North refused to comment Monday.
CentreVenture has said True North Square is a good fit for downtown.
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