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-   -   Saskatoon | River Landing Village | 88m-63m-50m-55m | 18-20-17-13 floors | U/C (https://skyscraperpage.com/forum/showthread.php?t=193214)

Echoes Apr 24, 2015 1:33 AM
This sounds like good news to me.

The phased-in approach where bite-sized pieces can be developed one by one makes the project realistic. Being able to pull off an entire excavation of the site to build the parkade all at once had no way of happening. The site is just too large. Now they can do it in manageable chunks.

I expect that with this the latest design is completely out the window and buildings will be designed one-by-one as they're built. And to me, that's not really a bad thing. There's still the architectural controls in place to ensure quality.

I doubt we'll be getting a 95 m condo tower there any time soon. We'll have to look to North Prairie to pull off the 105 m City Centre Tower.

I'm interested to hear about the partners and what they have in store...

macca Apr 24, 2015 3:30 AM
http://www.thestarphoenix.com/news/s...172/story.html

jigglysquishy Apr 24, 2015 3:34 AM
Just talked with some city staff.

Sounds like the city has been in talks with taking over the property and developing it themselves. Don't know how serious it is, but really interesting.

rrskylar Apr 24, 2015 4:32 AM
Quote:
Originally Posted by jigglysquishy (Post 7002221)
Just talked with some city staff.

Sounds like the city has been in talks with taking over the property and developing it themselves. Don't know how serious it is, but really interesting.
See post #159 in this thread!:rolleyes:

Jerry Apr 24, 2015 11:30 AM
‘Big step forward’ for River Landing
 
‘Big step forward’ for River Landing


By Andrea Hill, The StarPhoenix April 24, 2015

A long-delayed hotel-condo-office development at River Landing has secured a funder, but there’s still no word on when construction will begin.

Victory Majors Development Corp, the Saskatoon-based company that took over the land across from what will eventually be the new Remai Modern Art Gallery, will partner with Regina-based Greystone Managed Investments Inc, a pension fund investor, pending council approval on Monday.

“It’s definitely a big check off the box for financing. Basically, it’ll be built with cash instead of debt so it’s a huge plus,” said Victory Majors president John Nasser. “It’s an exciting big step forward.”

He said the value of the project will “definitely” exceed $300 million, but that he can’t give a specific price tag. [...]


Read More: http://www.thestarphoenix.com/entert...172/story.html


:cheers:

Stormer Apr 24, 2015 1:14 PM
Quote:
Originally Posted by Jerry (Post 7002419)
‘Big step forward’ for River Landing


By Andrea Hill, The StarPhoenix April 24, 2015

A long-delayed hotel-condo-office development at River Landing has secured a funder, but there’s still no word on when construction will begin.

Victory Majors Development Corp, the Saskatoon-based company that took over the land across from what will eventually be the new Remai Modern Art Gallery, will partner with Regina-based Greystone Managed Investments Inc, a pension fund investor, pending council approval on Monday.

“It’s definitely a big check off the box for financing. Basically, it’ll be built with cash instead of debt so it’s a huge plus,” said Victory Majors president John Nasser. “It’s an exciting big step forward.”

He said the value of the project will “definitely” exceed $300 million, but that he can’t give a specific price tag. [...]


Read More: http://www.thestarphoenix.com/entert...172/story.html


:cheers:
Greystone is huge. They have funded most of Harvard's towers in Regina, including Mosaic Tower 3 and Agriculture Place. This is very good news for this project.

prairieguy Apr 24, 2015 2:56 PM
Thanks Stormer, as I am sure most in Saskatoon are like me and know very little about Greystone. It is good to hear that they have been partnered with such successful projects in Regina. Guess it took some Regina balls to get this thing going!

My only concern with a phased in approach, is that one development will occur and then the rest of the site sit idle for years to come. Hope this new partnership takes an aggressive approach to development, because that truly is one of the best pieces of land in Saskatoon.

Stormer Apr 24, 2015 10:13 PM
Greystone has $32 billion in assets under management, 30% of that is real estate. Very deep pockets.

Brutopian Apr 27, 2015 6:17 PM
Proposed changes to Nassers' River Landing deal goes to city council

Kay and John Nasser's Saskatoon company, Victory Majors, looking for more 'flexibility'

CBC News, Apr 27, 2015

Saskatoon's mayor and city council will be asked to approve changes today to its agreement with the developer of a $300 million hotel-condo-office complex on River Landing's Parcel Y.

Saskatoon-based Victory Majors wants a Regina-based company, Greystone Managed Investments Inc., to take on an interest in the project of more than 49 per cent.

[........]

Read more:
http://www.cbc.ca/news/canada/saskat...ncil-1.3050600

Echoes Apr 28, 2015 4:55 AM
Saskatoon councillors back phases in River Landing development

BY PHIL TANK, THE STARPHOENIX APRIL 27, 2015

http://www.thestarphoenix.com/news/s...?size=620x400s

Quote:
A marketing package for prospective tenants of a delayed megaproject at River Landing could be ready in the fall after city council approved a more flexible approach Monday.

Council voted unanimously to allow Victory Majors Development Corp. to add Regina-based Greystone Managed Investments Inc. as a financing partner and to develop a long-delayed hotel-office-residential complex in phases instead of all at once.

An 18-month deadline to complete the project once construction work has begun will now only apply to the first phase of the project.

“It’s fluid right now,” Victory Majors president John Nasser told council Monday. “It might grow, it might shrink. We don’t know that.”

Several councillors expressed support for developing the project in phases, but Coun. Mairin Loewen said it “troubles” her that parts of the project will no longer have a deadline attached.

Loewen said she has heard concerns expressed by residents about the slow pace of development on Parcel Y, the prime piece of real estate located on the north side of the South Saskatchewan River at the foot of the Traffic Bridge.

“There’s the potential for a large portion of this site to go undeveloped for a very long time,” she said.

Coun. Randy Donauer said he thinks developing the site in phases will give the project momentum.

“Once Phase 1 is started, I have every expectation it will be a smashing success,” he said.

Nasser told reporters outside council chambers he understands Loewen’s concerns, but the changes will help move the project forward.

[....]
http://www.thestarphoenix.com/news/s...096/story.html

Echoes Apr 28, 2015 3:04 PM
Council right to back Nasser

The StarPhoenix April 28, 2015

Quote:
To judge by the looks of a piece of land that has long stood barren as River Landing grew up around it, one might never guess that "Parcel Y" often was described as the most valuable property in Saskatoon.

Many a mayor and slates of city council over the years have touted its potential to be the centrepiece of development for the South Downtown, only to have their hopes dashed in the face of economic uncertainties and financial downturns that scuttled grand plans to establish a peoplecentred and vibrant destination that lived up to the public expectations they created.

With city council's unanimous approval Monday of changes sought by Victory Majors Corp. president John Nasser to the long delayed hotel-condo-office project at River Landing, there's hope once again that Saskatoon's best known vacant lot may yet come alive to the sounds of excavation and erection, even if the developer says "fluid" conditions make it impossible to provide a certain start date.

What's promising this time around, however, is that Mr. Nasser's appearance before council was to seek approval to bring on board as a partner Regina-based Greystone Managed Investments Inc., an investor with deep pockets interested not in tying up money in dormant land but in a project that can return a profit for the people who entrust it with their money.

The fact the partnership will allow Victory Majors to proceed with the project on a cash basis instead of relying on debt also adds a good measure of financial certainty, as does Mr. Nasser's plan to go ahead with the development in phases, depending on construction costs and interest shown by potential tenants.

And his request that council allow him to bring other funders and partners into phases of the project without having to seek the city's approval each time only makes sense, especially when the direct control zoning of the land means that council approval is needed for whatever gets built there, no matter who is involved with the development.

[....]
http://www.thestarphoenix.com/opinio...150/story.html

prairieguy Apr 28, 2015 10:18 PM
I share the same "concerns" as Councilor Mairin Loewen about the lack of any incentive/guarantee that the lot will not sit empty for another extended period of time. I do not buy into the theory that once one phase is done the others will soon follow. If that were the case, they would just build the whole damn thing now!

Also Mr. Nasser's comments about the project could be bigger or shrink gives me a sinking feeling that this is not going to be the 'landmark' project everyone was hoping for. I want to feel a whole lot more optimistic about this now that there is a financial partner, but I am still skeptical.

Please prove me wrong!!!! :fingerscrossed:

macca Jan 27, 2016 8:25 PM
Major announcement coming today.

macca Jan 27, 2016 9:06 PM
http://www.newswire.ca/news-releases...566739931.html

Stormer Jan 27, 2016 9:08 PM
Wow 9 mos between posts but that is great news!

Stormer Jan 27, 2016 9:11 PM
https://pbs.twimg.com/media/CZwLcP-W0AI883M.jpg:large

Alt Hotels ‏@ALTHotel
We're very proud to announce that a new Alt Hotel will open in @VisitSaskatoon in 2018! #saskatoon

W.W. La Chance Jan 27, 2016 9:35 PM
This render is better than anything previously put forth. Exciting news!

macca Jan 27, 2016 9:37 PM
http://thestarphoenix.com/business/l...germain-hotels

Echoes Jan 27, 2016 10:05 PM
Nice to see a condo portion included, according to the article... on what I would guess is the right tower portion. Reminds me of Toronto's River City condos... would be nice if the finishes are of the same quality:

http://urbantoronto.ca/sites/default...4356-40336.jpg
Source

http://farm4.staticflickr.com/3768/1...5da64ff5_b.jpg
Source

I honestly think this will look great as a neighbor to and complement of the Remai Modern next door.... Our evolving modern architecture riverfront, and the skyline could certainly use some sleek black.

And looks like a shadow rendering for office next door...

Echoes Jan 27, 2016 10:28 PM
An interesting nugget from the press release (see bolded text):

Quote:
Ted Welter, Managing Director, Real Estate and Mortgages for Greystone Managed Investments Inc. commented, "Through the unique cooperation and support of the City of Saskatoon and the Nasser family, we are excited to see the River Landing development become a reality. It's a tremendous step forward in what we believe is one of the more important land developments in Saskatchewan. Based on pre-leasing interest and momentum, particularly in office space, we look forward to the execution of the future phases of this development over the coming months."


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