Winnipeg’s Portage Place Shopping Centre may soon be changing hands.

Winnipeg city councillors have been invited to a closed door meeting Friday morning to discuss the possibility of a sale.

A memo obtained by CTV News reads:

“North Portage Development Corporation have entered into a purchase and sale agreement to sell Portage Place Shopping Centre, and the associated land and parking, subject to shareholder approval. As the City of Winnipeg is a shareholder of the NPDC, its approval is required in order for the transaction to proceed. The City is also required to consent to the assignment of related skywalk agreements.”

The memo does not say who the buyer is and it does not say what is planned for the future of the mall.

One source tells CTV News the deal is significant.



A spokesperson with the mayor's office said, “Portage Place is a significant property in the heart of our downtown. It is expected that a report with further details will be made public soon and at the time, the Mayor will have more to say.”



The provincial and federal governments are also shareholders.

The Forks North Portage Partnership owns the land and a private company owns the mall itself.



A spokesperson for The Forks declined comment until next week.

The mall opened in 1987 with the aim of revitalizing the downtown area on and around Portage Avenue.