Mayor's inner circle votes on extension request on Portage Place sale

A rendering from True North Sports and Entertainment shows a proposed plan for a redevelopment of Portage Place Mall. (Source: True North Sports and Entertainment)

The Mayor's inner circle has voted in favour of granting an extension to True North as it decides if it will buy Portage Place mall.

"This is a significant project that would be transformative for our downtown. We need the Portage Place property to be performing at peak level," Winnipeg Mayor Scott Gillingham told members of his Executive Policy Committee on Tuesday.

"That asset, that property we know, to say it's underperforming currently would be an understatement."

True North’s real estate wing has asked for a six-month extension on the decision to buy and redevelop Portage Place Mall. True North says it still needs to do further consultation and due diligence.

Speaking with reporters following the meeting, Gillingham said he has no concerns of further delays to the process.

"I think we have to keep in mind that this is perhaps one of the largest projects that may be undertaken that will transform our downtown, one of the largest projects certainly in recent memory," he said.

"So giving True North as a potential investor the time to do a little bit more investigation, have more conversations and more public consultation I think is warranted and certainly support that."

The extension request still requires full council approval, as well as approval from the provincial and federal government. City council is set to vote on the matter next week.