Halifax won't buy World Trade and Convention Centre for $13.5M

The Halifax World Trade and Convention Centre is still for sale and the city has decided not topurchase it for now.

"We had 90 days to consider the purchase and that expired on June 7," said municipality spokesman Brendan Elliott. "Back in May, we decidedthat it wasn't a good use of tax dollars to purchase the building at this time.We have a couple of other opportunities to step back in the process and we'll assess things atthat time."

New convention centre coming

The World Trade and Convention Centre has been a fixture in the downtown core since 1984.

A new convention centre is under construction in the heart of downtown Halifax.

The $500-million Nova Centrewill also include a luxury hotel, condos and office space. It isscheduled to open sometime next year.

WTCCon sale for $13.5M

The province has signed a 25-year deal with the builders of the Nova Centre and is selling theWorld Trade and Convention Centre for $13.5 million.

Now that the city has said they won't be buying the building at that value, the province will open the sale to the private sector to see if there's any interest, Elliott said.

Municipality could still buy it

If another buyer is found, the city has 30 days to decide whether it wishes to match that price andpurchase the building under the same terms and conditions contained in the private offer.

"So we have another opportunity to jump in once we assess what the true market value of thebuilding is at that point in time," Elliott said.

If no buyer is found, the city will purchase the World Trade and Convention Centre on the daythe convention centre in Nova Centre opens.

Brian Taylor, a spokesman for the province, would only confirm that some ongoingdiscussionsare underway.