True North wants six month extension to decide on sale of Portage Place Mall

True North’s real estate wing is asking for a six-month extension on a plan to buy and redevelop Portage Place Mall.

True North’s real estate wing is asking for a six-month extension on a plan to buy and redevelop Portage Place Mall.

The organization had until the end of the year to purchase the mall’s assets, following community consultation and its own analysis.

The city, province and federal government are all shareholders in the North Portage Development Corporation (NPDC) which currently owns the land, parkade and air rights. A private company owns the building.

A report to the Mayor’s Executive Policy Committee (EPC) is recommending council approve a six-month extension request from the NPDC. The report says this is needed so True North can continue its due diligence, which includes further consultation.

In a statement to CTV News, True North says a second phase of public consultation is set to begin in December as it needs the extra time to ensure its vision, which includes housing, health care and community services, will serve the needs of the community and be successful.

“True North Real Estate Development further continues to advance dialogue with its key partners and consultants, both public and private, with the intention of pursuing this vision to its successful completion and remains optimistic that this can be achieved within the extended time period," the statement reads.

The statement also says discussions about complimentary programming opportunities with The Bay building project being redeveloped by the Southern Chiefs Organization is “evolving.”