Plans delayed for major makeover to Portage Place

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This article was published 30/11/2020 (1911 days ago), so information in it may no longer be current.

A due diligence period for the $400-million redevelopment of Portage Place has been delayed until March 1.

Starlight Investments had hoped to complete the process by the end of November but the company confirmed Monday that it needs more time.

“Discussions are ongoing with multiple levels of government and we are excited to be working with them on the redevelopment of Portage Place and downtown Winnipeg,” wrote Marni Larkin, a spokesperson for Starlight, in an emailed statement.

The project aims to create 500 housing units and almost 500,000 square feet of office and retail space in the city centre.

Winnipeg city council approved a $20-million incentive package to support the project, while the province has promised a $28.7-million education tax rebate. A federal request for $20 million of additional support is still being considered.

“We appreciate the importance of the Portage Place redevelopment to Winnipeg and Manitoba and are in discussions with Starlight Investments. This important work is ongoing,” wrote federal spokesperson Catherine Mounier-Desrochers, in a written statement.

Starlight has said it won’t proceed with the project unless all three governments provide $20 million.

Paul Jordan, chief executive officer of The Forks-North Portage (which owns land at the site) said the extended timeline is understandable, as Starlight is dealing with major economic changes during the COVID-19 pandemic.

“So they need to redo their mathematics,” said Jordan. “The good news is they are still interested.”

joyanne.pursaga@freepress.mb.ca

Twitter: @joyanne_pursaga