True North, CentreVenture push deadline to finish development deal
True North and CentreVenture are taking extra time to finish a major downtown development deal.
True North Sports and Entertainment, the company that owns the Winnipeg Jets, has an option agreement with the downtown development corporation to build a hotel on Carlton Street near the RBC Convention Centre.
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That deal came under scrutiny earlier this year, and city council voted to open up the project to bids from other developers.
That strained relations with Mayor Brian Bowman and True North board chair Mark Chipman.
Since then, the pair have met to discuss the deal and resolved some of the issues.
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On Friday, CentreVenture announced the two organizations are taking an extra two weeks to hammer out the details of the development agreement for the site.
According to CentreVenture officials, the extra time will be used to finish "administrative and legal work."
The option agreement for the site expires on June 1, 2015.