Saskatoon Real Estate News November 23, 2011

Saskatoon River Landing Project Update

For a few years Saskatoon was talking about River Landing which was the project that was meant to take off in downtown Saskatoon with condos and office space and some people still aren’t quite aware that Calgary’s Lake Placid developments failed to get the project off the ground therefore it was purchased by Karim Nasser’s Victory Majors Investments Corp and is now a $200 Million megaproject with could potentially be the tallest development in Saskatchewan at 27 storeys high.

This includes more Saskatoon condos, offices and a larger public plaza than previously planned for and on Monday city council unanimously approved a series of zoning changes to allow for this large showpiece in Saskatoon’s south downtown. This approval will hopefully see the dirt start to move this summer after such long delays and speculation. The new project will be home to more condos in Saskatoon, more office space, and a hotel which will help make it viable with the income.

Things have changed a lot since the guidelines were initially set in 2004 and the Saskatoon real estate market has been one of the major changes since then so it is great to see our city council allowed these changes. The owner of the Sherator Cavalier is working on the hotel development side of things so it appears they are going in the right direction.

The development will also feature a public plaza which currently has plans for a shallow pond in the summer and a skating rink in the winter plus grassed terraces and patios and will all be at street level. This public plaza could also become a nice place for concerts and festivals which will be great during the summer months.

As a Saskatoon REALTOR® I often get people in buying condos for sale in Saskatoon and if the clients have done their research they do often ask about Lake Placid or River Landing so it will be so great to actually see some development taking place and have some solid answers for when the condos associated with the development will actually be for sale.

For more information on this story check out the Star Phoenix article.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion