A major hurdle in front of the True North Square project has been cleared.
True North has purchased the former Carlton Inn site from CentreVenture, the city's development agency.
Along with a parking lot across the street, True North wants to build three towers, including a hotel and public plaza for hockey fans.
True North said this is a significant advancement for the $400 million proposal.
The purchase price was not included in the news release put out by True North.
Mayor Brian Bowman welcomed news of the deal.
"It's huge. It’s a significant investment. It's almost certainly one of the biggest investments, if not the biggest investments of its kind,” said Bowman.
