Saskatoon Construction

[shmakim]

The Affinity sign dangling off the gallery looks so bad I originally thought it was Photoshopped. I'm amazed that the Broadway architecture cops (whoever it was that went after the Luxe's original height, and people who don't want condo towers on Broadway) didn't scream that it has to blend with the building better. It looks terribly, IMO.

And regarding developers sitting on their empty parking lots because RL is closer to going ahead than ever before..... I figure to have some development for sure is better than to have speculation till the sun goes down, and nothing further. The last year has been a frustrating one, with so much talk of large projects, and relatively little getting done.

Maybe the RL office and condo space will appeal to a top tier price segment? There's got to be more demand than 200 condos in downtown Saskatoon.

[prairieguy]

River Landing Village

Does anyone know if the city had any timeframe around the auditor's assessment of whether Dr. Nasser (and partners) submission met the criteria? I know that if it passes the auditor's assessment, that Dr. Nasser has 15 days to pay the remaining fees for the land, but can't recall how long the auditing process was suppose to take.

[Echoes]

Originally Posted by prairieguy

River Landing Village

Does anyone know if the city had any timeframe around the auditor's assessment of whether Dr. Nasser (and partners) submission met the criteria? I know that if it passes the auditor's assessment, that Dr. Nasser has 15 days to pay the remaining fees for the land, but can't recall how long the auditing process was suppose to take.

Seems to me that in recent comments I've read/heard from Mayor Atch, he's hopeful that a report from the auditor would be available for tonight's council meeting.

I don't know how realistic that is. Could just be Atch making a typical Atch-like remark.

[kiwi4life]

Originally Posted by macca

On the other hand, the River Landing project not proceeding could have been deemed as a sign that there is no market in Saskatoon for mid to high end condos, hotel and office space downtown, thus scaring developers away.

i agree with you

[Ruckus]

Originally Posted by macca

On the other hand, the River Landing project not proceeding could have been deemed as a sign that there is no market in Saskatoon for mid to high end condos, hotel and office space downtown, thus scaring developers away.

Good point.

On reflection of your statement, I am curious about the level of demand for the RiverGreen eco-village. PEDCO has until June 30, 2011 to pay the full $1.5 million for the parcel of land across from the Farmer's Market. Does anyone think RLV breaking ground will negatively impact this project? I think both offer a high quality urban lifestyle, they're just packaged differently.

[Wyku]

Originally Posted by prairieguy

Heard an interesting comment this weekend from someone who seemed to be well connected with a number of developers in the city. We were discussing the number of empty lots with signs that indicate they are planned for development. The comment was, that a number of developers (re: condo and office) have been sitting on their property waiting to see what would be happening with the River Landing/Lake Placid development.

Their take, was now that this is officially proceeding (I guess still a few more hurdles before we know that for sure), it actually could further stall other new developments. As much as we all are relieved to see River Landing being developed, it will add a large number of mid to high end condos and office/commercial space on to the market. As good as this is, it also creates some hesitation for other developers to proceed.

Just one persons opinion, but as much as we hoped River Landing could spur other developments, there is the other side to this in that it could contribute to delayed projects.

I guess ultimately. the market demand will dictate the level of development that occurs.

Interesting. If they hadn't been sitting on their hands all of this time and just went for it, they could have had their developments finished by now and beat RL to the punch. Easy to say when I'm not the one with money on the line though .

[kgc087]

Originally Posted by Ruckus

Good point.

On reflection of your statement, I am curious about the level of demand for the RiverGreen eco-village. PEDCO has until June 30, 2011 to pay the full $1.5 million for the parcel of land across from the Farmer's Market. Does anyone think RLV breaking ground will negatively impact this project? I think both offer a high quality urban lifestyle, they're just packaged differently.

If anything I think this would benefit this development. Alone the ecovillage would be a bit of a lost cause. A small very high end development in a very low income neighbourhood would not do well. If there are many developments with a range in price but generally on the higher end will secure gentrification of the area. Does anyone know if the planned apartments etc for Riverlanding on the west side of Senator Sid Buck. bridge are going to materialize? Is this something that will happen after Nasser Village?

[Measuring Stick]

Originally Posted by Ruckus

Good point.

On reflection of your statement, I am curious about the level of demand for the RiverGreen eco-village. PEDCO has until June 30, 2011 to pay the full $1.5 million for the parcel of land across from the Farmer's Market. Does anyone think RLV breaking ground will negatively impact this project? I think both offer a high quality urban lifestyle, they're just packaged differently.

It's been quite awhile since I read about PEDCO, but pretty sure the "different packaging" will help this project greatly. They will be encouraing work-live unit, which could have street level retail or restaurants with living units for the owners above. This should appeal to a vastly different purchaser than Lake Placid or River Landing Village (Whatever we are calling it now). While sometimes these projects sound way better in theory than in practice I really hope this one works and we see a few new small and unique businesses pop out of it adding to the River front experience.

Not really sure if they are fund raising to get the land purchase, seeking financing or what but hopefully Nasser's project will only help them.

[Echoes]

Originally Posted by kgc087

If anything I think this would benefit this development. Alone the ecovillage would be a bit of a lost cause. A small very high end development in a very low income neighbourhood would not do well. If there are many developments with a range in price but generally on the higher end will secure gentrification of the area. Does anyone know if the planned apartments etc for Riverlanding on the west side of Senator Sid Buck. bridge are going to materialize? Is this something that will happen after Nasser Village?

The City will gradually phase in sale of the remaining parcels over the next few years. They've always maintained that development of Parcel Y was the lynchpin before proceeding with development of the other parcels.

[Echoes]

Also, just to make it clear, "River Landing Village" has ALWAYS been the official name of the Lake Placid proposal - and I assume that name remains the same under Nasser.

I realize how using "Lake Placid" as shorthand for this development has caused some confusion.

[Ruckus]

Originally Posted by Echoes

Also, just to make it clear, "River Landing Village" has ALWAYS been the official name of the Lake Placid proposal - and I assume that name remains the same under Nasser.

I realize how using "Lake Placid" as shorthand for this development has caused some confusion.

River Landing Village....hmmm.

I think it was publicly released as River Landing, wasn't it? Well, partially my fault then. I titled the thread incorrectly

[Echoes]

River Landing project earns audit nod; city council approval next step

By David Hutton, The StarPhoenix November 9, 2010

The group behind the development of Saskatoon’s $200-million River Landing megaproject has passed the rigours of a city-ordered audit and will be able to proceed if it receives council approval today.

Phoenix Management Inc., a subsidiary of Karim Nasser’s Victory Majors Investments Corp., has conditional financing totalling $62.5 million and provided “plausible support,” according to independent auditor Deloitte & Touche, of the ability to bring the hotel-office-condo project to grade level, a city report to council says.

[....]

Approval at the special council meeting is a massive step in the development of the south downtown, which has struggled to secure major private development despite a large public investment in River Landing, Totland said.

“This could be a turning point for not only the south downtown but the whole downtown plan,” he said. “This provides the impetus to turn development momentum. This just might be what we need to really get things (moving) along here.

“This is a significant day for Saskatoon.”

[....]

The company’s silent investment partners will be revealed in due course as the development proceeds, Nasser said.

“They’re very well known,” he said.

“You will be surprised when you hear their names.”

[....]

Read more: http://www.thestarphoenix.com/River+Land...xt+step/3803579/story.html#ixzz14qx6Cyo4

[Echoes]

Originally Posted by prairieguy

Heard an interesting comment this weekend from someone who seemed to be well connected with a number of developers in the city. We were discussing the number of empty lots with signs that indicate they are planned for development. The comment was, that a number of developers (re: condo and office) have been sitting on their property waiting to see what would be happening with the River Landing/Lake Placid development.

Their take, was now that this is officially proceeding (I guess still a few more hurdles before we know that for sure), it actually could further stall other new developments. As much as we all are relieved to see River Landing being developed, it will add a large number of mid to high end condos and office/commercial space on to the market. As good as this is, it also creates some hesitation for other developers to proceed.

Just one persons opinion, but as much as we hoped River Landing could spur other developments, there is the other side to this in that it could contribute to delayed projects.

I guess ultimately. the market demand will dictate the level of development that occurs.

It's interesting to note the difference between your insider's take on things and how City Manager Murray Totland sees it (from the article I posted above):

Approval at the special council meeting is a massive step in the development of the south downtown, which has struggled to secure major private development despite a large public investment in River Landing, Totland said.

“This could be a turning point for not only the south downtown but the whole downtown plan,” he said. “This provides the impetus to turn development momentum. This just might be what we need to really get things (moving) along here.

“This is a significant day for Saskatoon.”

Read more: http://www.thestarphoenix.com/news/River...xt+step/3803579/story.html#ixzz14r0bIA3H

Both your well-connected friend and the city manager are more in-the-know than we are. But who knows something the other might not? While I respect that your source is credible, I certainly hope Totland is right on this one! (I think we can all agree on that.)

[dsim249]

Originally Posted by Echoes

River Landing project earns audit nod; city council approval next step

By David Hutton, The StarPhoenix November 9, 2010



Read more: http://www.thestarphoenix.com/River+Land...xt+step/3803579/story.html#ixzz14qx6Cyo4

Awesome news.

Any guesses on the silent investment partners?

[Ruckus]

Thank you Mr. Nasser and Co. The silent partners has me perplexed -- could be individuals or companies. For an added twist, maybe P.R. Developments (Remai Ventures) stepped up

2011 will be a busy year for construction (especially along the river).

[A4Regina]

This is great news. All hail Nasser!!

[CtrlAltDel]

Awesome news for Saskatoon!
I used to do some work for Lake Placid a while back, and am very happy to hear this project may finally be starting.
Kudos to Mr. M.E. Lobsinger having the vision, and kudos to Mr. K. Nasser for having the funds! I wonder if Mr. Nasser will keep the plans, or modify/change them. What an interesting story for the history books for this piece of property.
There were other projects planned for Saskatoon from LP, but I assume they're no gos now.

Any more news on the 'observation tower' for the area? Haven't heard about that in a while.

[mmx]

"Observation tower"? I was hoping to hear here about a Cameco Tower or a BHP Saskatchewan Tower (yes, aka BS Tower) announcement today.

[Echoes]

Originally Posted by CtrlAltDel

Awesome news for Saskatoon!
I used to do some work for Lake Placid a while back, and am very happy to hear this project may finally be starting.
Kudos to Mr. M.E. Lobsinger having the vision, and kudos to Mr. K. Nasser for having the funds! I wonder if Mr. Nasser will keep the plans, or modify/change them. What an interesting story for the history books for this piece of property.
There were other projects planned for Saskatoon from LP, but I assume they're no gos now.

Any more news on the 'observation tower' for the area? Haven't heard about that in a while.

Yes, Nasser will build the project as originally proposed by Lake Placid as that specific proposal has long ago received the required approval from City Council and the Meewasin Valley Authority.

As for the observation tower at River Landing, that was just one of the ideas floated for the 'Destination Complex' to be built across 2nd Avenue from River Landing Village, and adjacent to the new Persephone Theatre.

In the end, it was decided to build a new civic gallery on that site to replace the existing Mendel Art Gallery north of downtown. The Art Gallery of Saskatchewan is currently in design by KPMB Architects of Toronto.

[Devon]

Originally Posted by CtrlAltDel

Awesome news for Saskatoon!
I used to do some work for Lake Placid a while back, and am very happy to hear this project may finally be starting.
Kudos to Mr. M.E. Lobsinger having the vision, and kudos to Mr. K. Nasser for having the funds! I wonder if Mr. Nasser will keep the plans, or modify/change them. What an interesting story for the history books for this piece of property.
There were other projects planned for Saskatoon from LP, but I assume they're no gos now.

Any more news on the 'observation tower' for the area? Haven't heard about that in a while.

As far as I know that is dead. Not that it ever really was, thankfully. : )