Pleasant Hill land deal nets Patrick Wolfe $1.4 million

Over the past 16 years, Patrick Wolfe quietly purchased a block of decrepit residential properties, one at a time, in the Pleasant Hill area of Saskatoon. A wiser investor may have wondered what the hell he was up to. Few would have ever thought that his investment would by a key component in renewing the Pleasant Hill neighbourhood but last night his plan became clear as Wolfe saw his land sale proposal to the City of Saskatoon move forward in a deal which netted the savvy investor $1.4 million dollars, and a $365,000 donation receipt to boot. City Council approved a deal to purchase 29 properties from Wolfe with the intent to clear the land for use in a Pleasant Hill renewal project which will ultimately include a new housing development, a much needed elementary school, some green space, and a possible community group space.

Earlier this month, Mayor Don Atchison, Premier Lorne Calvert, and National Revenue Minister Carol Skelton announced the details of a cooperative initiative between the city, the province and the federal government to begin some much needed redevelopment in the Pleasant Hill area.  The renewal project will be funded through the Urban Development Agreement with $1.71 million coming from the City of Saskatoon. The province and the federal Department of Western Economic Diversification will each pick up $789,471 of the cost.

Negotiating the purchase of the only three properties on the block which are not owned by Wolfe is underway. Once complete, the wrecking ball will start to swing and some new life will find its way into the Pleasant Hill area.

Let’s hope that this new development provides an opportunity to rejuvenate a community which could really use a boost.

Congratulations Pleasant Hill residents.

Congratulations Mr. Wolfe.

More about the Pleasant Hill renewal project here.