LeBreton Flats 2.0 (RendezVous LeBreton) | Cancelled

[CityTech]

It would be in the public interest for the NCC to arrange for a superstore-type grocery store with underground parking (as acottawa described) with some form of support, either in the form of free use of the land or possibly even outright subsidization. Getting it in there now would stimulate residential demand going forward and in a bit the store wouldn't need subsidies anymore. Basically get the NCC to use it as a loss leader.

[c_speed3108]

From twitter

CTV Ottawa
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#BREAKING Trinity Development counter-sues Eugene Melnyk and CSMI for $1 billion over Lebreton Flats redevelopment deal. More to come.... #ottnews

[McC]

"I see your $700M, and raise you $300M more!"

[kwoldtimer]

In the category of "least surprising news of the day".

[lrt's friend]

And the city held up for ransom on the most important development site in the centre of the city.

[J.OT13]

Trinity Development sues Eugene Melnyk, CSMI for $1 billion

CTV News Ottawa
December 12, 2018

Trinity Development is suing Ottawa Senators owner Eugene Melnyk and Capital Sports Management Inc for $1 billion over its partnership to redevelop Lebreton Flats.

The countersuit was filed in court Tuesday morning, just weeks after Melnyk sued John Ruddy and Trinity Development for $700 million. Melnyk alleges his business partner, John Ruddy, was leveraging the historic redevelopment to grow a nearby condo complex at 900 Albert Street. That is across from the Bayview LRT station and near Lebreton Flats.

In the countersuit, Trinity Development and Ruddy say Melnyk's lawsuit is 'meritless' and the claim against John Ruddy is 'especially scandalous.'

The countersuit claims the following: "CSMI and its guiding-mind principal, officer and director, Eugene Melnyk, together with other CSMI executives, including then CEO Cyril Leeder knew about 900 Albert from the outset of the RLG Joint Venture... 900 Albert was an integral part of the CSMI/Trinity relationship."

The Trinity Development lawsuit also claims Melnyk's position on a new downtown arena was to have it funded by Trinity and City of Ottawa taxpayers.

According to the countersuit, "CSMI's and Melnyk's true aim is to have the City of Ottawa or Trinity fund and build the $500 million event centre for the Ottawa Senators hockey team, with the Senators getting 30 years' free rent. CSMI also wants the valuable naming rights and an unreasonable degree of control over the Lebreton project."

In a statement on Tuesday, Ruddy expressed his desire to move forward on the Lebreton project, "Let me be clear, I am committed to moving this project forward. The vision we've brought forward is the right one. I will work with the NCC, the City of Ottawa, and the community at large to advance solutions that will make this project a reality, and avoid losing these important lands for another generation."

More to come...

https://ottawa.ctvnews.ca/trinity-de...lion-1.4222596

[McC]

Originally Posted by lrt's friend

And the city held up for ransom on the most important development site in the centre of the city.

Nothing stopping Claridge from moving forward with their remaining parcels, if they can line up the resources.

[ars]

According to the countersuit, "CSMI's and Melnyk's true aim is to have the City of Ottawa or Trinity fund and build the $500 million event centre for the Ottawa Senators hockey team, with the Senators getting 30 years' free rent. CSMI also wants the valuable naming rights and an unreasonable degree of control over the Lebreton project."

This, if true, is a ridiculous ask from Melnyk.

The sad thing is that it's not even outside the realm of possibility.

[J.OT13]

I have no doubt Melnyk tried to squeeze out more money from Trinity as part of the deal. That's probably why he fired Leeder, who likely advised against this. That said, I believe the Sens organization when they say that they only asked the City once for financial support, and that was probably a shot in the dark that they knew wouldn't work.

[kevinbottawa]

If Trinity is successful with their lawsuit it could put Melnyk out of business completely.

[J.OT13]

Originally Posted by kevinbottawa

If Trinity is successful with their lawsuit it could put Melnyk out of business completely.

This could kill the Ottawa Senators too, at which point the NHL would probably sue Trinity.

[zzptichka]

Originally Posted by J.OT13

This could kill the Ottawa Senators too, at which point the NHL would probably sue Trinity.

Not before Melnyk and Ruddy sue NCC once they walk away from this dumpster fire.

[J.OT13]

This is nice; Mr. Melnyk sent Ottawa City Councillors a little gift for Christmas. Best photos of his African Safari!

Out of respect of his daughters' who are on the sidelines looking at the tire fire going on around them, I won't post the picture, but you can see it on Jon Willing's Twitter.

https://twitter.com/JonathanWilling/...00164031795201

[phil235]

Originally Posted by J.OT13

This could kill the Ottawa Senators too, at which point the NHL would probably sue Trinity.

What would the NHL sue Trinity for?

[kwoldtimer]

Originally Posted by McC

Nothing stopping Claridge from moving forward with their remaining parcels, if they can line up the resources.

What sites do they still own?

[acottawa]

Originally Posted by kwoldtimer

What sites do they still own?

Most of the land East of Booth. But it took them over a decade to build 4 little buildings, so I wouldn’t hold your breath.

[J.OT13]

Originally Posted by phil235

What would the NHL sue Trinity for?

If the Ottawa Senators are forced to fold over this, the NHL will suffer a significant financial blow.

[corynv]

Originally Posted by J.OT13

If the Ottawa Senators are forced to fold over this, the NHL will suffer a significant financial blow.

couldn't the sens be bought up by the league, and sold to someone else in ottawa (or if assets are turned over in the lawsuit) and keep them alive?

[phil235]

Originally Posted by J.OT13

If the Ottawa Senators are forced to fold over this, the NHL will suffer a significant financial blow.

I think it's a pretty big stretch to suggest that the Sens would fold over this. At very least, they would be a candidate for relocation, which wouldn't necessarily diminish their value.

It's an even bigger stretch to suggest that Trinity has done something that would give the NHL a legal remedy against it. The NHL is not a partner in the development, so they can't sue under the partnership agreement like Melnyk is attempting to do.

[kevinbottawa]

Originally Posted by phil235

I think it's a pretty big stretch to suggest that the Sens would fold over this. At very least, they would be a candidate for relocation, which wouldn't necessarily diminish their value.

It's an even bigger stretch to suggest that Trinity has done something that would give the NHL a legal remedy against it. The NHL is not a partner in the development, so they can't sue under the partnership agreement like Melnyk is attempting to do.

Wouldn't the NHL get Melnyk to sell rather than relocate the team? The problem isn't the market, it would be him not having enough wealth after paying Trinity (if they were successful in their counter suit). Seeing how hard they worked to keep the Coyotes afloat I don't see them letting Melnyk move the team.