St. John's, NL

 

FORTIS PROPERTIES WITHDRAWS DEVELOPMENT APPLICATION

Fortis Properties today withdrew its application for the redevelopment of its Water Street site and construction of a new building.  The development application was submitted to the City of St. John’s on January 19, 2010.

“We do not believe there is sufficient support at Council for this application,” said Nora Duke, President and Chief Executive Officer of Fortis Properties.  “As such, we have determined it is in the best interest of our Company to withdraw.  We will refocus our efforts on the retrofit of our existing Fortis Building.” 

Fortis Properties, a wholly owned subsidiary of Fortis Inc., owns and operates 2.8 million square feet of commercial real estate primarily in Atlantic Canada, 21 hotels in eight Canadian provinces and six unregulated hydroelectric plants in Ontario.  Fortis Properties employs approximately 2,300 people. 
 

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Media contact:

Gail Tucker

Manager, Corporate Communications

Fortis Properties Corporation

T:   709.737.2927