Saskatoon Construction III

[YXE]

I hate to come across as overly negative, as I want to see these projects succeed as much as anyone else, but the reality is that most of the projects without recent updates aren't going anywhere.

The Spire - management is prioritizing Escala 2.0 to "test the market" as quoted in a recent All Sask article about the new Escala. I do think this project could be brought back in life in +5 years once the new symphony building is built near by, which should hopefully spur some activity in the area.

Highpoint - this project is dead. I reached out to the company recently asking if they had any plans for a re-launch, and the answer was no.

Eastlake - remember that for a condo building, roughly 60% of the units need to be pre-sold before a shovel is put in the ground. I can't remember the specific numbers, but the developer was recently quoted and said most units would be very expensive (my words). The chances of selling ~ 150 units for $750k seem slim to none at this point in the market.

12th - my understanding is that this project is dead after the lead tenant's business model was materially impacted by Orange Man's tariffs.