Portage Place redevelopment plan approved by city council [Video]

The Portage Place deal with True North is closer to reality, as the approvals required appear to be falling into place.

“This has been a long time coming,” said Mayor Scott Gillingham.

All three levels of government need to sign off before a deadline at month’s end, to sell the property, air rights, and parking to True North’s real estate wing.

Winnipeg City Council did its part Thursday, voting unanimously on $40 million worth of subsidies including tax grants, for the $650 million project.

“This is a very exciting project, $40 million of City of Winnipeg incentives, will leverage over $600 million of investment in our downtown from other funders,” said Gillingham.

On Friday, federal support and approvals could be announced, as Liberal minister Dan Vandal is set to participate in a news conference at the mall with True North and the Southern Chiefs’ Organization (SCO).

The province has already …