Winnipeg unanimously votes to purchase Portage Place Mall
Posted September 18, 2024 2:09 pm.
Winnipeg’s executive policy committee unanimously voted in favour of a purchase agreement for Portage Place Mall.
This deal would allow the sale of the land, parking lot and air rights to True North Real Estate Development. It also includes millions in financial support from the city, including street and skywalk improvements, as well as tax grants.
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The agreement is not expected to impact the multi-year budget as it will be funded through incremental property taxes, previously budgeted funds and money from other levels of government.
Full council, along with the two other levels of government and True North’s shareholders still need to approve the deal.
