Lake Placid bid runs out of time |
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Sat, Oct 31, 2009 03:58 PM CST
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A hotel and office complex that was supposed to be the centrepiece of Saskatoon's River Landing development has run out of time.
Lake Placid developments had planned a $200 million project - but it depended on paying the City of Saskatoon about 4.5 million dollars for the land involved.
Friday at 5 pm was the deadline.
In a news release Lake Placid says it is still hopeful it might be able to come up with the money.
Saskatoon's city council will have to decide what to do next.
While much of the riverbank in the area has been developed in the last few years, the site of the proposed hotel remains empty.
The city has been trying to get a major development there for more than two decades.
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