Griffintown redevelopment could be dead

The controversial redevelopment of Griffintown may be off the table.
On Monday La Presse reported that Devimco, the developer behind the $1.3 billion project would not be able to go ahead, if the city doesn’t put up more money.
But a city official said the project was still on track, at least for the moment.
“I cannot confirm if it’s true or not,” said Isabelle Poulin, a media relations official with the city. “We are looking for further information before giving further details about this project.”
The South-West Borough approved the redevelopment in February 2008, despite opposition from area residents and concerns about the neighbourhood’s historical value. But the project has been marked by setbacks, as Devimco has struggled with raising the money to fund the project.
In November Devimco pushed the start of the project back by nine months. At the time the company said instability in global financial markets was preventing them from raising funds.
On Feb. 18 the project was scaled back by 70 per cent and the city said they would put up at least $300 million in financing.
But with the entire project now in question, and city officials saying little, the people behind it aren’t saying anything. According to his office, André Bouthillier, who handles media relations for the project, is on vacation. Calls to Devimco’s head office were not returned by press time.