Quote:
Originally Posted by buzzg
My friend went to look at condos here yesterday. Apparently they've only sold 11/90 units.
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That is astounding! I am a long time resident of Saskatoon but I used to live in Winnipeg many years ago. To me Saskatoon is like a little Winnipeg.
Here in Saskatoon, Urban Capital's River Landing project has been very successful. Urban Capital is planning a second project and there are a couple other similar projects in the works. As with dcondo, at the Saskatoon condo asking prices I think its easily possible to buy a nice detached house. But I was hoping there is a rising demand for "urban living".
As someone who cares about urban planning/sprawl/densification etc, the dcondo numbers scare me. Why is it not selling? Are there plentiful alternatives in Winnipeg for potential dcondo buyers? Is there something fundamentally wrong with it? Could the Winnipeg market really be different than Saskatoon's?
It makes me wonder if the planned Saskatoon projects are in for a similar fate. Maybe they won't all happen. Perhaps I have been overestimating the demand (e.g., retiring & downsizing boomers) for this type of product on the prairies.