Regina | 1222 15th Ave | 6 Stories | 20 M | Rental Housing

[ArwelLiving]

Site has been cleared.

Site Preparations are underway and full construction start is anticipated in the next couple weeks!

[one_brick_at_a_time]

Great news!

[LittleBoy]

Has this project been officially cancelled yet? Been nearly two years and the foundation work hasn’t started yet. The site is flooded and doesn’t look like literally anything has happened since delivery of materials months ago.

In comparison, 2172 Rae is due to start framing shortly and the prior structure was only torn down this summer

[Saskabusher]

Good looking project. Good luck. It's not always easy developing and building and selling. That Littleboy must be about eight....

[Udon'tknow]

Originally Posted by LittleBoy

Has this project been officially cancelled yet? Been nearly two years and the foundation work hasn’t started yet. The site is flooded and doesn’t look like literally anything has happened since delivery of materials months ago.

In comparison, 2172 Rae is due to start framing shortly and the prior structure was only torn down this summer

Yeah I drove by the site the other day and noticed the same thing. There are big weeds growing and a look of an abandoned lot. It feels like Capitial Pointe all over again with the developer continously claiming work is starting/progressing but it doesn't really. I hope I am wrong but maybe Arwell can provide an update on why nothing is happenning.

[pappcam]

Originally Posted by Udon'tknow

Yeah I drove by the site the other day and noticed the same thing. There are big weeds growing and a look of an abandoned lot. It feels like Capitial Pointe all over again with the developer continously claiming work is starting/progressing but it doesn't really. I hope I am wrong but maybe Arwell can provide an update on why nothing is happenning.

Watch out. You're going to called an 8 year old by someone from Saskatoon who has no clue.

[cityboy]

Originally Posted by Udon'tknow

Yeah I drove by the site the other day and noticed the same thing. There are big weeds growing and a look of an abandoned lot. It feels like Capitial Pointe all over again with the developer continously claiming work is starting/progressing but it doesn't really. I hope I am wrong but maybe Arwell can provide an update on why nothing is happenning.

I believe all their efforts are going into the rapid housing build in North Central. I agree though that it doesn't look great when their other sites look abandoned.

[ArwelLiving]

Originally Posted by cityboy

I believe all their efforts are going into the rapid housing build in North Central. I agree though that it doesn't look great when their other sites look abandoned.

A combination of factors, we should have the weeds dealt with in short order.

Efforts have been poured into NCFC RHI Project is certainly a part of it.

In late May 2024 CMHC changed the rules to the Insured Mortgage Program which led to a flood of applications across Canada which turned a quick approval for Certificates of Insurance to our lenders from a couple weeks to upwards of 12 weeks.

We had an update from CMHC this week and are hopefully that the COI is approved in short order and we will be able to commence Construction as the Building Permit has been issued and the shoring piles installed. We are ready to go.

If we had, had our way the original building would have been standing until all the ducks are in a row. We are excited to get the excavation and building underway!