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City says TC3 developer still seeking investors; development agreement gives permit deadline of Jan. 1, 2027
Summary
Staff told the committee developer 1Trent (Trent) has not yet pulled a first permit for the TC3 mixed‑use downtown project and continues to seek investment partners; the development agreement gives them until Jan. 1, 2027 to pull a first permit before the city considers other options.
Community Development Director Keith Niven briefed the committee on the status of TC3, the downtown redevelopment parcel the city sold under a development agreement in April 2024. Niven said the developer (1Trent) has been seeking investors for phase 1 of the project and has found fundraising difficult in the current market climate.
Niven said the developer reported that tariffs and other…
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