Fort Mall in court-ordered sale
The Fort Mall is for sale again.
The property is among those formerly owned by Worthington Properties seized for unpaid debts.
Edmonton’s historic Ramsey building, the Macdonald Lofts and a downtown Edmonton parkade are also being offered by CB Richard Ellis as part of the court-ordered sale of Worthington assets.
Worthington’s office in the Ramsey Building was destroyed by the fire on March 24. Michael O’Reilly, an associate of Worthington owner Dan White, has been charged with arson.
Worthington is also in trouble with the B.C. government, which had to step in after staff, having not been paid for weeks, abandoned a pulp mill purchased by Worthington on Mackenzie, B.C.
Worthington Properties purchased the Fort Mall in 2006, and have since promised to completely rebuild the site as a mixed residential and commercial development, including 20-storey or higher condominium towers.
The project has been on hold since 2008.
Dan White himself was convicted of money laundering and cigarette smuggling in 1997. He received a $267,000 fine and a six-month conditional sentence.
Sturgeon Creek Post
Wednesday, May 6, 2009