An announcement regarding the a new high-rise condominium development is expected in the near future.
"It's not the right time to say too much about it right now, but things are happening," said developer Rod McLeod.
In April, McLeod and his business partners announced heir plans to build a $40 million hotel and luxury condominium complex downtown.
The development was proposed for the lot adjacent to the Bob Harkins branch of the Prince George Public Library.
Announced in April, the original plan was for construction to begin this summer with an expected completion date of late 2013.
Presales on the project have also not been launched yet, said commercial real estate agent Clint Dahl. Condos are expected to run from 1,195 to 2,374 square feet and cost between $350,000 and $800,000.
The 12-storey building will feature 151 hotel rooms, 34 condo units, a restaurant, lounge and retail space.
A bylaw that will close the portion of lane adjacent to the 10th Avenue site has been approved by city council, though it has not been registered yet with the Land Title Office. The approximately 2,272 square-metre portion of 10th Avenue at Patricia Boulevard is to be sold to the developers along with adjacent city lands, currently used as a parking lot for RCMP staff, for the hotel to be built upon.
In a July report to council, acting manager of planning and development Ian Wells stated the purchase price of the lane is $30,000, plus HST.