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Old Posted Sep 13, 2019, 7:17 PM
NotToScale NotToScale is offline
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Quote:
Originally Posted by YXE View Post
The issue here is that we haven't really seen enough mid-to-high end condos in this market to have any indication as to what's normal. Urban Capital is a Toronto-based firm where developers are scrambling to build condo's with 500sqft for $600k +. Evidently, they are bringing some of that thinking to our market. As happened with the Banks, it's going to take some time for this market to adjust. I know there are renters in River Landing who are having a difficult time finding tenants because everyone is shocked by the small units; this just isn't something that Saskatoon has seen before.
Sure we haven't seen much to this level of design. And I'm very glad we are getting some of these types of condos built in Stoon. But by no means should condos of this size in Saskatoon cost what they do in Toronto or Vancouver. The market is different for sure, but to say that Saskatoon needs to adjust to high prices for low sqft isn't the adjustment I would hope would happen. River landing is an example that Saskatoon doesn't need overpriced studio apartments, I'm glad with this tower they don't have any.
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