True North Carlton Street development deal gets extension

An extension has been granted on the controversial Carlton Street development deal between True North Sports and Entertainment the CentreVenture, thecity's arm's length development agency.

On Monday, the deadline for an agreement between True North andCentreVentureto develop on land at 220 Carlton Street wasextended to May 15.

• CentreVenture CEO 'optimistic' True North hotel deal will happen

• Questions raised over True North Carlton Street development plans

The Carlton project holds significant revenue-generating potential that would help the city raise money to pay it's share of the $180-million Winnipeg Convention Centre expansion.

CentreVenturebought the property and tore down an existing hotel with the hopes of attracting a developer to build a new facility.

A previous deal for the land fell through and True North approachedCentreVenturewith a plan to develop the area.

But controversy broke out when Mayor Brian Bowman raised concerns about howCentreVenturegranted Truth North the option.A public spat between Bowman and True North owner MarkChipmanensued.

• Mayor Bowman and CentreVenture rift widens over True North deal

• Mark Chipman fires back at mayor, puts Carlton Street project on hold

This latest extension on the development deal gives all parties six more weeks to negotiate an agreement.

The offer to purchase the Carlton Street land expires in June.