Quote:
Originally Posted by kiwi4life
By the way, anyone know what could be happening with the lighthouse, and stoneset properties?
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Stoneset Equities Ltd. Quarterly Report
Second Quarter 2009
Saskatoon Project – Saskatoon, SK
• Preliminary drawings for the concept, were completed by ONPA, an architectural firm in Edmonton, and
approved by the Lighthouse Group who will be managing the affordable housing units for Saskatchewan
Housing Corporation.
• A detailed costing estimate was prepared by KDL Consulting, a cost consultant firm from the City of Saskatoon
on the approved concept plans
• The cost estimate on the concept plan which was derived from the program provided by Saskatchewan Housing
Corporation and the Lighthouse Group increased from the original estimate done by Stoneset in April of 2008 of
@$18,000,000 to @$23,300,000. Even though Stoneset was given the approval to proceed with their original
$18,000,000 budget, the budget from Saskatchewan Housing Corporation was reduced from @$15,000,000
down to @$13,000,000 and with the cost estimate of @$23,300,000 to build the affordable housing units to the
proposed program would leave a financial shortfall of @$10,300,000.
• Numerous meetings with representatives of Saskatchewan Housing Corporation, the Lighthouse Group, the
City of Saskatoon and the Minister of Housing have taken place to discuss what options would be available to
address the @$10,300,000 shortfall. At a meeting in May, a request was made for Stoneset to provide a
detailed cost breakout of all the components of the affordable housing portion of the project. This was
completed at the end of May and was submitted accordingly. Stoneset is currently waiting for a response as to
whether Saskatchewan housing will proceed with the project in its entirety or that a new program will need to be
prepared to match the funding that they have available.
Source
Posted a photo to refresh our memories.

Would love to credit the photo but unsure of the source.
Like many projects it falls on the wait-and-see list.