It’s been more than 10 years since the City of Terrace gambled $1 million of its citizens money in purchasing the former Terrace Co-op shopping centre complex on Greig Ave.
The city’s bet then was that it could have some kind of influence in developing the property.
Hopes were briefly raised in 2013 when it struck a sales deal with Calgary-based Superior Lodging for a hotel and associated amenities.
But that’s been frustratingly unrealized because the city so far has been unable to receive a clean environmental bill of health from the provincial government which is needed to close the deal.
That just might happen now by the end of the year.
Enter Pomeroy Lodging of Grande Prairie, Alberta which purchased the Chances gaming centre here in 2014 with the goal of combining it with its own hotel as well as a conference centre at a new location.
Pomeroy has now chosen its preferred location, the Co-op property meaning it, Superior and the city are now embarked on a cards-close-to-the-chest negotiation to determine who might do what at the property.
There’s a further twist in that Pomeroy’s plan can only be realized if it receives approval from the city to increase the number of slot machines now at Chances here.
Complicated? You bet. In the gaming world, the house always wins. In this scenario, however, it’s difficult to say whose house that is.