Another step has been taken in the long, long, long journey to have something built on the former Capital Pointe lot.
On Wednesday, a justice at the Court of Queen’s Bench in Regina granted judicial approval of the sale of the property to Royalty Developments, provided everything works out with the sale under the initial real estate listing.
The decision was handwritten, and more detailed reasons are expected to come later.
Two other offers had been put in on the property, but the application from Royalty Developments was approved.
The sale was for about $2.2 million, plus applicable outstanding taxes. The price tag for the land initially was $8.5 million.
The lot at the corner of Albert Street and Victoria Avenue was to have been the site of a hotel and condominium project. The developer, Westgate Properties, didn’t complete the project — leaving only a hole where an underground parkade was to be built.
After many delays, the City of Regina had a contractor fill the hole. That work was completed this fall.