True North Carlton Street development deal gets extension

An extension has been granted on the controversial Carlton Street development deal between True North Sports and Entertainment the CentreVenture, the city's arm's length development agency.

On Monday, the deadline for an agreement between True North and CentreVenture to develop on land at 220 Carlton Street was extended to May 15.

• CentreVenture CEO 'optimistic' True North hotel deal will happen

• Questions raised over True North Carlton Street development plans

The Carlton project holds significant revenue-generating potential that would help the city raise money to pay it's share of the $180-million Winnipeg Convention Centre expansion.

CentreVenture bought the property and tore down an existing hotel with the hopes of attracting a developer to build a new facility.

A previous deal for the land fell through and True North approached CentreVenture with a plan to develop the area.

But controversy broke out when Mayor Brian Bowman raised concerns about how CentreVenture granted Truth North the option. A public spat between Bowman and True North owner Mark Chipman ensued.

• Mayor Bowman and CentreVenture rift widens over True North deal

• Mark Chipman fires back at mayor, puts Carlton Street project on hold

This latest extension on the development deal gives all parties six more weeks to negotiate an agreement.

The offer to purchase the Carlton Street land expires in June.