A report on the purchase and sale agreement for the beleaguered mall was posted to the public agenda for the Sept.17 meeting of Winnipeg city council's executive policy committee.
A report on the purchase and sale agreement for the beleaguered mall was posted to the public agenda for the Sept. 17 meeting of Winnipeg city council’s executive policy committee — with the recommendation from the public service that EPC approve the $34.5-million sale to True North Real Estate Development.
Mayor Scott Gillingham said Wednesday that he supports the sale, which he called “one of the biggest downtown developments in generations.”“When I ran for mayor in 2022, I committed to finding a solution for Portage Place, and today, I am proud to support a plan from True North that delivers on that promise.“This project will provide both economic and social benefits, and will complement the neighbouring Wehwehneh Bahgahkinahgohn development being led by the Southern Chiefs Organization.
The city is also committing millions of dollars in support — $10 million from the Housing Accelerator Fund, $13.6 million through tax increment financing, $6.5 million for skywalk and security improvements, $2.1 million to develop a community drop-in space, and an additional $7.5 million for street work on Edmonton Street.
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