View Single Post
  #91  
Old Posted Mar 5, 2013, 3:22 AM
casper casper is offline
Registered User
 
Join Date: Nov 2011
Location: Victoria
Posts: 9,009
Quote:
Originally Posted by Retallack View Post
I'm in commerce at the U of S and I was told by a couple well-connected classmates that John Nasser has no intention of building on this site unless he can secure tenants. Apparently, he does not have the passion for this project his father does and is happy sitting on it and collecting parking revenue indefinitely, for 20 or 30 years, as my classmate said.

These are just rumors, so take them for what they're worth. I hope they're wrong - this would be an amazing project if it went through.
I believe at one point in time there was a clause in the sales agreement between the city and the developed that said, within a certain amount of time construction must start or the property would revert back to the city. That said, this project has had enough twists and turns that I don't remember what the conditions were at the end of the day.
Reply With Quote