WINNIPEG — The St. Regis Hotel is changing hands again.
CentreVenture has sold the property on Smith Street for $4 million to Fortress Real Developments, the same group that is planning SkyCity, a massive complex proposed for the parking lot across from the former Canada Post building.
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The SkyCity development was announced back in 2013 and is expected to be the city’s tallest tower with at least 47 floors at the corner of Graham Avenue and Garry Street.
In a release, CentreVenture said Fortress has a plan to build a 625 stall parkade and a commercial/retail complex on the St.Regis Hotel site. Part of the sales agreement is Fortress must begin construction by April 2017 or the property reverts back to CentreVenture.
The St. Regis Hotel was bought by CentreVenture back in 2013. That allowed for the VLTs to be taken away and the liquor and vendor licenses to be removed for the building.
A surface parking lot on Garry Street has also been sold for $650,000 that will be used for the nearby The PINT Public House and Sports Bar.