That line is probably BS circulating since you're 100% correct in your assessment, but what else could it be? There must be something wrong here, otherwise why not just sell the site if you are no longer interested in the market?
IDK, its probably just one small part of a giant real estate investment portfolio with equally complex financing and the bean counters have found that keeping it on ice for years is less risky than selling. Seems to be not uncommon for big builds, I can think of two developments in similar positions in Toronto (Mirvish Village and Yonge/Bloor skyscraper). Hard to envision what the little man can do about these things, but I'm interested in people's thoughts.
At this point you'd think they would sell it. Unless it's a nice tax writeoff, idk. TN and the City must be out of patience. Maybe TN can buy it back and build it themselves. Unlikely, but spitballing.
I was just about to ask which decade they intend on building & completing it in?
One would think Chimpan would be pestering them ( Northlands) constantly to complete.
Chipman and Gaglardi should make a bet. If the Jets win the series, then Northland finishes the hotel as soon as possible. If the Stars win, then the site sits empty for another 5 years.
Just for fun...
Allegient Stadium in LV started in 9/17 and was completed in 7/20. The Sphere in LV commenced construction7/18 and was completed 10/23.
Sandman Signature in Winnipeg broke ground in 2018. It is not finished.
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