The renovation of Maple Leaf Gardens has been delayed by at least four-to-six months because of the financial situation of the company that owns it, CTV News has learned.
Profits for Loblaw Companies Inc. were down 20 per cent in the third quarter, which has affected the plans for the iconic building, CTV's Tom Hayes reports.
Early this year, Loblaw officials said construction and the gutting of the Carlton Street arena were to have begun in the summer. They also projected to re-open the building by the summer of 2009.
The plans call for the Gardens to be transformed into a grocery store, double-deck parking garage and a museum in the lobby that will feature hockey memorabilia.
Loblaw officials refused an on-camera interview to discuss the current timeline for the project.
It has been almost nine years since the Maple Leafs vacated the historic arena in 1999. Earlier this year, CTV News had a sneak peek inside.
The Gardens appeared frozen in time and in a state of slow decay, looking battered and littered with garbage and dead rodents.
Residents in the area told CTV News they were hoping to see more progress by now.
"Four-to-six months? From how many years?" joked Kevin Haynes, the manager of the pub located across the street.
Haynes wasn't surprised to hear of the latest delay, but noted he would like to see the mega grocery store come sooner.
"I'm sure it would mean business," he said.
With a report from CTV's Tom Hayes
