New Retail Development at Polo Park on Hold

September 11, 2009 07:30 AM in News • 2 Comments

David Asper It could be 16 months or longer before construction begins on the vacant land once occupied by the Winnipeg Arena in St. James.

CBC News reported late Thursday that developer Shindico is holding off on its plans at the moment due to the sluggish economy.

Local businessman David Asper is relying on new retail development on the land to fund the future Blue Bomber stadium at the University of Manitoba. The city has a memorandum of understanding with Asper, which would see the current stadium sold to his company Creswin Properties. Money from the sale would be pumped into the $150 million sports complex in south Winnipeg.

Mayor Sam Katz agrees that right now is not the best time to move forward.

According to this article, an Asper spokesperson said an announcement regarding the development will be coming in the next few weeks.

WpgCameraMan

No one wants to build at Polo Park when the Ikea area is the major hot spot to be. And now the talk is the old CKY building won’t be town down. Asper doesn’t have two pennies to rub together, so why let him reap the benefit of team ownership and a new facility, when the only way it will get built is with the majority of the money coming from the various governments?

The dream is over people.
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