Final REAL talks with Brandt expected to go past Sept. 1 target date

It appears a Sept. 1 target date will come and go without a final sale agreement for portions of Regina’s REAL District to Brandt Group of Companies.

In a statement, the City of Regina said significant progress has been made on completing the deal since it was first approved by city council in May.

Read more:

• ‘Room for more’: Fair fans want bigger rides, better security at QCX
• Brandt now seeking to manage parts of REAL District it’s not buying
• Regina soccer contract raises questions about proposed Brandt deal

“Given the size and scope of the transaction, the parties are taking the appropriate time to complete and finalize the detailed agreements and closing requirements,” it said.

“This is a customary part of completing a transaction of this nature, and the parties continue to make progress toward closing.”

The city’s statement explained the closing timeline is being updated to accommodate the continued negotiations. But it did not give a new date.

“In the meantime, REAL continues to operate the campus as usual, with all planned events and activities proceeding as scheduled.”

Last week, council approved a change to the agreement that will allow Brandt to operate the parts of the district that it’s not acquiring for up to 20 years.

That includes Mosaic Stadium, the Co-operators Centre, AffinityPlex, and Confederation Park.

Brandt is purchasing the Canada Centre and Agribition Building, where work is underway on the company’s Queen City Distillers project, as well as the Brandt Centre and Queensbury Convention Centre.

It will also lease the Bunge International Trade Centre from the city.