July 29, 2016
Northern Development Initiative Trust and Commonwealth Campus have reached a settlement to end a legal proceeding regarding development lands in the 400 block of George Street. The development of these lands can now proceed and can be positioned for additional investment in a part of the city’s downtown that has been transformed in recent years to include new shops, new restaurants, a renovated Ramada Hotel and the internationally renowned Wood Innovation and Design Centre.
The terms of the mediated settlement remain confidential.
For Northern Development, the settlement resolves an outstanding proceeding, creating more certainty for the organization as it remains in a strong financial position to continue investment in communities throughout central and northern B.C.
Northern Development Initiative Trust