The stalled Mill Island condo and retail development may be revived and construction crews may be on the scene as early as this summer.
Developer Kevin Keefe, a partner in the project with former Hawbolt’s Furniture owner Terry Hines, confirmed that negotiations are underway with two maritime investors for more financing.
“We’ve been working on this for a long while,” he told the Hants Journal. “Summer is a possibility, but we don’t want to create a lot of expectations. We’ve been working really hard and spending a lot of money to make this come true. It’s a good plan and I really believe in it.”
Negotiations are underway with investors, one from Nova Scotia and one from New Brunswick, to take a significant equity position in the company and bring needed capital.
The redevelopment stalled in 2008 after two liens were placed on the project, including one for $176,603 by engineering firm Stanttec Consulting, which Mill Island is contesting in court via a counter-claim. The other lien is for $467,459 from contractor Titan Construction.
Mill Island may get refinancing
- Published on January 24th, 2010
- Published on January 31st, 2010
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