Efforts to redevelop surplus land at 320 Geneva Street have failed.
The City of St. Catharines says an affordable housing project is no longer in the works.
Last fall, council authorized the sale of 320 Geneva Street to Penn Terra Group Limited.
The property was supposed to be redeveloped into a large multiple-unit affordable housing building.
However, the transaction was not closed by the November 10th deadline, and the current agreement of purchase and sale has been
terminated.
The City says the project experienced major hurdles, including a lack of qualified labour, interest rates, inflation and other rising costs.
Officials will determine the next steps in the property's future at a later date.
NRP Want Help After Horses Hurt
Niagara Families Connected to Doctor
Teenager Hurt in St. Catharines Stabbing
One Driver Arrested of Two Hit and Runs
Unifor and GM reach tentative contract agreement
Marineland ships another three belugas to San Diego
PM Carney says Canada will Meet U.S tariffs “Dollar for Dollar”
Province Investing in Niagara Businesses