The deal is almost done to build the province's Wood Innovation Resource Centre on the site of the Prince George Hotel.
The building is expected to be constructed almost entirely out of wood, at unprecedented heights for a wooden building, and house operations by UNBC, UBC, CNC and Emily Carr if current plans come to fruition.
Mayor Dan Rogers and members of city council denied anything had been slated for the old PG Hotel location that they now own. But a number of sources contacted by The Citizen confirmed the wood-focused university facility was not only the plan, but already close to official announcement.
However, said the same sources, if it doesn't come to pass the old hotel land would still be put to good use for downtown revitalization.
Ted Coole and his partners have operated the PG Hotel for decades. Although terms of the deal were not released, he said he finally accepted an offer from a group of investors - just not the investors he first thought.
For in-depth coverage of this story, read Thursday's edition of The Citizen.
