Construction workers could be breaking ground on the River Walk condominium project on Front Street any day now after a deal between the town and the Winnipeg developer was made Friday to move the project forward.
Town council had said it wouldn’t go ahead with the almost $5-million project until 75 percent (24) of the 32 units were pre-sold.
With only up to 20 units sold, and Penn-co Construction Corp. only able to hold its price until April 1, it appeared the project might be in jeopardy.
But Mayor Glenn Witherspoon met with Ernest Penner of Penn-co here Friday to discuss a plan to have the developer take responsibility for the four or five unsold units needed to begin construction.
“He was very receptive of our request,” Mayor Witherspoon said after the meeting. “He said it’s easier for them to move ahead now than move backwards.”
The mayor said Penn-co would list their units with the same realtors the town is enlisting today.
Penner said he just had to clear the plan with his accounting department before making any deal final.
“He said we should get his letter in less than a week, then we’ll probably get the shovels in the ground,” Mayor Witherspoon said Friday.