The Times won't be changing -- a decision by a city committee has saved the Times Change(d) music venue in downtown Winnipeg.

Councillors decided to preserve the Fortune Block, a neighbouring building and the Winnipeg Hotel for their heritage significance.

The Times Change(d) is housed inside the Fortune Block.

The owners of the buildings wanted to sell them to a developer for demolition. They say the structures are beyond repair and unsafe.

The developer was planning a 150-room $35 million dollar hotel for the South Main Street location.

That deal is now dead.

John Pollard of Pollard Bank Note has offered to spend millions of dollars to restore the Fortune Block.