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Old Posted May 20, 2022, 7:41 PM
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Biff Biff is offline
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Join Date: Jun 2004
Location: Winnipeg
Posts: 7,934
Originally Posted by Labroco View Post
Our understanding is there were a number of proposals but none of them either met CV’s requirements or were too restrictive and the developers chose not to proceed.

As the St Regis site would have had a a development agreement attached to it in the same way Market Lands does, it is surprising nothing has been announced. The same is true for the Waterfront site.

As both sites have been “ sold” it would be interesting to see what the sale price was. If all the proceeds have actually been received by CV that would be great.

If a VTB was involved what we have is really just an offer to purchase with a small refundable deposit / and or a fee for the option to purchase.

Two years is quickly coming up on the St Regis site “sale” and more than three on the Waterfront site. One has to assume CV has offered extensions to both of these purchasers due to “Covid” related issues.

I wish both developers well and hope permits are issued and construction commences. It’s a very difficult climate going forward.
The St Regis owners are still hoping to start this year.
"But a city can be smothered by too much reverence for its past. The skyline must keep acquiring new peaks, because the day we consider it complete and untouchable is the day the city begins to die." - Justin Davidson - May 2010 Issue of New York
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