Groundbreaking ceremony at Parcel Y brings an end to a decade long wait for River Landing development

It’s been more than ten years since Saskatoon city council approved Remai Ventures proposed plan to build a 200 room hotel and spa at Parcel Y. At that time, the projected cost to develop the improvements was estimated to be $40 million dollars. That parcel of land, a jewel on the banks of Saskatoon’s River Landing, would change hands twice and suffer numerous setbacks and delays. This past Wednesday, a groundbreaking ceremony got underway and the current landowner, Victory Majors Development Corp. announced that the first phase of the development which will include a 15-storey Alt Hotel and a 20-storey office tower will get underway in three to four weeks, as soon as regulatory approval is received. It’s expected to be complete within 14-20 months. Subsequent phases include two additional office towers and will commence when sufficient demand warrants their construction. The total cost of the project is now estimated to be $300 million.

More from the Saskatoon Star Phoenix here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher
Royal LePage Vidorra

Receive a weekly digest of our blog posts

Curious about home values in your area? Receive a free report that includes sale prices of recently sold homes, average days on the market and average discounts.

 

 

New River Landing development gets a tax break

Today on our Facebook page, we discuss tax incentives for new developments in downtown Saskatoon and at River Landing.

Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher
Royal LePage Saskatoon Real Estate

Remai Art Gallery of Saskatchewan wins prestigious design award

The design for the Remai Art Gallery of Saskatchewan has been selected as one of eight 2011 Award of Excellence recipients by Canadian Architect magazine and is featured on the cover of this month’s issue.

According to the story in the Star Phoenix, the $84 million gallery was selected from “163 submissions judged by a jury of Canada’s top architects.”

The gallery will be constructed at River Landing in Saskatoon’s Central Business District beginning in 2012 with an anticipated completion in late 2014.

Read: Remai gallery receives national award.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

River Landing Village one step closer to reality as zoning changes pass

Zoning changes proposed by Victory Majors Investments that make River Landing Village “economical” were approved by Saskatoon city council at their November 22nd meeting. The Meewasin Valley Authority (MVA) followed with their approval on Friday, paving the way for a potential spring of 2012 ground breaking.

Victory Major Investments took over the project from Lake Placid Developments last year when the developer failed to secure adequate financing. Initially, Victory promised quick action on getting the project started but later petitioned the city for changes to the previously approved project.

The approved changes have the potential building height increasing to 95 meters, from 68 meters, commercial space increasing from 30% to 40% and the allowable floor space increasing by as much as 50 percent.

The MVA is a conservation organization dedicated to conserving the natural and cultural heritage resources of the South Saskatchewan River Valley in Saskatoon. As such, all of the development at River Landing in Saskatoon’s Central Business District must meet their approval.

Read: Zoning changes approved for River Landing project.
Read: MVA greenlights art gallery, Nasar Magaproject in River Landing.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Rivergreen Ecovillage fails to secure financing – developer cancels plans

David Hutton is reporting some disappointing news about the Rivergreen Ecovillage, a “green” condominium development that had been proposed for Phase 2 of River Landing. The 65-unit condo complex was to be built at the corner of 19th Street and Avenue C in Riversdale but the developer has announced the cancellation of the project after they failed to obtain adequate financing for it.

Check Dave’s blog here.

Learn more about the Riversdale area here.

Visit our Saskatoon Neighbourhood Profiles pages to learn more about what’s going on in our city’s neighbourhoods.

Norm Fisher
Royal LePage Saskatoon Real Estate