Time for Lake Placid to show its cards on River Landing
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The clock is ticking down for a Calgary developer with a plan to build a massive hotel retail complex at Saskatoon's River Landing.
Lake Placid has the end of the day [Monday] to come up with a letter of credit showing they have the cash to get started on its $200 million project. If they don't – it's back to the drawing board for the city. Lake Placid CEO Michael Lobsinger made the promise five months ago.
“Today, with Doctor Nasser's help, we have the financing available. We can move forward. And we can move forward quickly,” said Lobsinger back in June. Now it's time for Lobsinger to make good on that promise. Lobsinger has until 5:00 pm to show the city he can get started on his massive hotel retail complex.
Business Partner Karrim Nasser is hopeful he and Lobsinger will come through. “We're working to make that deadline. And we're still working hard, and hopefully we'll make it,” said Nasser.
