![]() The shareholders, Syed Bokhari and Darcy Shaver, didn’t respond to requests for comment. 29, after hearing the property - 1801-1825 Park Dr., located beside the Walmart in Portage la Prairie - had been abandoned, was a fire hazard, and the lender had lost confidence in the developer’s ability to complete it while Bokhari Development’s two shareholders continue to battle each other in court. ![]() The project was initially expected to be complete in March, but the deadline was extended to Sept. The company, partly owned by Syed Bokhari (brother of former Manitoba Liberal Party leader Rana Bokhari), owes more than $21 million on its loan and mortgage, according to documents filed in Manitoba’s Court of King’s Bench late last month. “We are growing and we do need options for housing in our community,” Knox said last week. Knox said she is hopeful another developer will take on the project. Mayor Sharilyn Knox said she is hopeful another developer will take on the project. (There were concerns about a lack of firetruck access and structures that still don’t have siding.) Mayor Sharilyn Knox and city manager Nathan Peto said Portage is working with the court-appointed receiver, KPMG, and there is now 24-7 security on site. defaulted on mortgage payments this summer. A court-appointed receiver has taken over the project, after Bokhari Development Inc. Work stopped in June at the Park Drive construction site, and the general contractor alleges tradespeople are owed more than $2.5 million for labour already completed. Free Press 101: How we practise journalismĪ Portage la Prairie housing project expected to add more than 200 three-bedroom units to the city has stalled amid an ongoing shareholders’ dispute within the development company.
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