And the plot thickens...
Now that Meridian is no more, what are the chances of residential condos going up on River Landing?
"rising construction costs"; those private developers and the city must know more than the public ......conspiracy!!!
But "rising construction costs" don't explain why a Holiday Inn is proposed for downtown which would need similar skilled tradespeople as both the former Meridian, and the former Remai Hotel/Spa. One thing that is definitely supporting the reluctance of private developers in Saskatoon to follow through and even propose anything is competing with Calgary and to a lesser extent Edmonton for tradespeople to build projects of the hi-rise type, no surprise who gets the lions share. Although not explicitly, Karl Miller seemed to echo that position in the above SP article.
As Rob D suggested, developers often adjust their unit prices to reflect the rising costs. I believe this occurred with the 2nd Ave Lofts(the Bay) downtown. Some people pulled out, but others payed the difference because it was still worth it. Maybe, Meridian Development Corp. has another strategy for something different, although I'm not quite sure what that would be.
What's a more desirable location for luxury condos, Broadway or River Landing phase one?