Tuesday, February 17, 2009

Exclusive: Griffintown Project Dealt Blow

From Global Quebec:

MONTREAL - The stalled $1.3-billion Griffintown redevelopment project has taken another setback.

Montreal city hall is to announce in the coming days that it will remove the reserves the city placed on properties in the neighbourhood south of downtown last year to make way for the project by developer Devimco Inc., building owners in the area told The Gazette today.

Devimco began signing options to purchase in the area in 2005, but has now let most of those promises to buy lapse.

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