Halifax won't buy World Trade and Convention Centre for $13.5M
Municipality could still buy WTCC if private offer made
The Halifax World Trade and Convention Centre is still for sale and the city has decided not to purchase it for now.
"We had 90 days to consider the purchase and that expired on June 7," said municipality spokesman Brendan Elliott. "Back in May, we decided that it wasn't a good use of tax dollars to purchase the building at this time. We have a couple of other opportunities to step back in the process and we'll assess things at that time."
New convention centre coming
The World Trade and Convention Centre has been a fixture in the downtown core since 1984.
A new convention centre is under construction in the heart of downtown Halifax.
The $500-million Nova Centre will also include a luxury hotel, condos and office space. It is scheduled to open sometime next year.
WTCC on sale for $13.5M
The province has signed a 25-year deal with the builders of the Nova Centre and is selling the World Trade and Convention Centre for $13.5 million.
Now that the city has said they won't be buying the building at that value, the province will open the sale to the private sector to see if there's any interest, Elliott said.
Municipality could still buy it
If another buyer is found, the city has 30 days to decide whether it wishes to match that price and purchase the building under the same terms and conditions contained in the private offer.
"So we have another opportunity to jump in once we assess what the true market value of the building is at that point in time," Elliott said.
If no buyer is found, the city will purchase the World Trade and Convention Centre on the day the convention centre in Nova Centre opens.
Brian Taylor, a spokesman for the province, would only confirm that some ongoing discussions are underway.