Global Transportation Hub facing $46M deficit after year without land sales
REGINA -- Saskatchewan’s Global Transportation Hub (GTH) is falling further and further into debt following another year without land sales.
The Regina project has now accumulated a $46 million deficit.
At an event at the GTH Thursday, the NDP opposition said it is time to examine what went wrong with the development and how to fix it.
“They targeted $3.8 million dollars this year in sales. They got nothing. Zero,” said Trent Wotherspoon, an NDP MLA.
In a statement, the government said Colliers International, the company managing the GTH, will continue to "aggressively pursue" relationships with prospective clients. Some cost cutting measures have also been taken.
“During the 2019-20 year, the GTH undertook several cost cutting measures that have already reduced operating losses by $1.2 million. Some of the measures were a reduction in personnel and board size, as well as the sublease of the office,” Don Morgan, the Minister responsible for the Global Transportation Hub, said in the statement.
The RCMP have used the vacant streets at the GTH as a space for motorcycle training. It has also become a popular spot with young people for night time racing.
Dan Vogt is a professional drag racer. He has never been to the GTH but feels Regina has need for a strip.
“I’m sure if they had it, build one and they will come. It would go,” Vogt said.
The GTH would not work for the type of racing that Vogt does but sanctioned events at the GTH would offer street racers a safe alternative.
“Alberta used to do that quite a bit. They would close down a street and have 200 foot drags. Regina could do that too. They could close down a road. It would need somebody to organize it,” he said.
The Government of Saskatchewan said it is not considering sanctioned street racing as an option at this time.