Saskatoon Construction II - Page 143

Measuring Stick · #**2841** Posted **Jun 12, 2012, 7:30 PM**

Quote:

Originally Posted by mattykicks

I can't speak to Capitol Pointe in Regina. But I think the river landing development in Saskatoon may be over stretching the market. Saskatchewan has a robust economy, but I'm not sure it's strong enough to handle developments of that size. Each day that passes by, the more expensive it gets to build these buildings. With 2nd avenue lofts in Saskatoon going for near the 600 thousand range, how much do you think the condos at River Landing would be? To me, I think riverlanding is a great idea, and I really hope it gets off the ground. But I think the market it dictating otherwise.

You must be talking about the King George Lofts, not the "2nd Avenue Lofts". The 2nd Ave Lofts still sell for under $300,000 and will be far inferior in terms of quality from anything done at River Landing. That being said the Broadway Meridian Development would likely be the best peek into pricing of anything at River Landing. But its anyone's guess what the residential market is like then.

mattykicks · #**2842** Posted **Jun 12, 2012, 11:01 PM**

I think construction of the office tower at River Landing is just a matter of time. But that's a different ball game than the Condo Tower.

I just plain don't the market is strong enough for it. Globe and Mail article predicts a 15 percent correction in the housing market in Toronto and Vancouver.... and eventually, our housing market in Saskatchewan will feel the effects. I believe a previous post on this thread was correct. Why purchase a prestine condo downtown for 200k, 300k, 400k or 500k, when you can get a nice house, with more space in a well maintained suburb for the same price?? People buy downtown for two reasons: 1) They like living downtown, along the river and near markets. 2) To avoid long commutes from the suburbs. Problem is Saskatoon's commute time is MAXIMUM 20 minutes. In Edmonton, Calgary, Vancouver, and even Winnipeg, it makes sense to live downtown to avoid commute times, and intense traffic congestion. The only advantage to buying down town in Saskatoon is..... well... because some people like living along the river downtown. And I think that is an expensive proposition that not many people in Saskatoon can afford to make.

I'm calling this right now. Construction on the (I believe it's 18 story) office tower will begin sometime in the next 12 months. Work doesn't begin on the 27-28 story condo tower for atleast 6-9 years. And probably more. The market is too volatile and the city isn't big enough.....

Dalreg · #**2843** Posted **Jun 12, 2012, 11:25 PM**

Quote:

Originally Posted by mattykicks

I think construction of the office tower at River Landing is just a matter of time. But that's a different ball game than the Condo Tower.

I just plain don't the market is strong enough for it. Globe and Mail article predicts a 15 percent correction in the housing market in Toronto and Vancouver.... and eventually, our housing market in Saskatchewan will feel the effects. I believe a previous post on this thread was correct. Why purchase a prestine condo downtown for 200k, 300k, 400k or 500k, when you can get a nice house, with more space in a well maintained suburb for the same price?? People buy downtown for two reasons: 1) They like living downtown, along the river and near markets. 2) To avoid long commutes from the suburbs. Problem is Saskatoon's commute time is MAXIMUM 20 minutes. In Edmonton, Calgary, Vancouver, and even Winnipeg, it makes sense to live downtown to avoid commute times, and intense traffic congestion. The only advantage to buying down town in Saskatoon is..... well... because some people like living along the river downtown. And I think that is an expensive proposition that not many people in Saskatoon can afford to make.

I'm calling this right now. Construction on the (I believe it's 18 story) office tower will begin sometime in the next 12 months. Work doesn't begin on the 27-28 story condo tower for atleast 6-9 years. And probably more. The market is too volatile and the city isn't big enough.....

Maximum commute time is not 20 minutes. Not sure wher eyou drive in Saskatoon mate?

I would jump at the chance to have a condo on the river bank even at 500k. It's a choice of life sadly missing in Saskatoon. Urban living has a long way to go in Saskatoon.

Goose · #**2844** Posted **Jun 13, 2012, 12:34 AM**

Quote:

Originally Posted by Dalreg

Maximum commute time is not 20I would jump at the chance to have a condo on the river bank even at 500k. It's a choice of life sadly missing in Saskatoon. Urban living has a long way to go in Saskatoon.

I'm from Regina, but I'm under contract for 6 months to a company in Saskatoon. They've put me up in Hallmark Place temporarily. Downtown condo living in Saskatoon is fantastic. I pickup groceries on Sunday and I don'tneed to use the car again until I head back to Regina on Monday. I'm 1 block from the river, 4 blocks from the office etc. If I were to move to Saskatoon I'd be seriously considering a downtown condo. One overlooking the river would be a bonus.

Treesplease · #**2845** Posted **Jun 13, 2012, 3:00 AM**

Quote:

Originally Posted by mattykicks

I think construction of the office tower at River Landing is just a matter of time. But that's a different ball game than the Condo Tower.

I just plain don't the market is strong enough for it. Globe and Mail article predicts a 15 percent correction in the housing market in Toronto and Vancouver.... and eventually, our housing market in Saskatchewan will feel the effects. I believe a previous post on this thread was correct. Why purchase a prestine condo downtown for 200k, 300k, 400k or 500k, when you can get a nice house, with more space in a well maintained suburb for the same price?? People buy downtown for two reasons: 1) They like living downtown, along the river and near markets. 2) To avoid long commutes from the suburbs. Problem is Saskatoon's commute time is MAXIMUM 20 minutes. In Edmonton, Calgary, Vancouver, and even Winnipeg, it makes sense to live downtown to avoid commute times, and intense traffic congestion. The only advantage to buying down town in Saskatoon is..... well... because some people like living along the river downtown. And I think that is an expensive proposition that not many people in Saskatoon can afford to make.

I'm calling this right now. Construction on the (I believe it's 18 story) office tower will begin sometime in the next 12 months. Work doesn't begin on the 27-28 story condo tower for atleast 6-9 years. And probably more. The market is too volatile and the city isn't big enough.....

You can't make too many inferences about Saskatchewan's housing market based on what is happening in Toronto. Huge overbuild of condos there - 171 building cranes in Toronto right now - the highest number of any centre in North America - double the number in New York. Toronto is constrained by attempts to make a green belt around the city. Single detached dwellings are averaging in the 800s - condo's can be had in the 200s (probably the size of a closet). There is a big future for condos and increased density in Regina and Saskatoon (as soon as they start building affordable condo's to suit first time buyers). I don't see toronto's issues spreading.

casper · #**2846** Posted **Jun 13, 2012, 3:02 AM**

Quote:

Originally Posted by mattykicks

I just plain don't the market is strong enough for it. Globe and Mail article predicts a 15 percent correction in the housing market in Toronto and Vancouver.... and eventually, our housing market in Saskatchewan will feel the effects. I believe a previous post on this thread was correct. Why purchase a prestine condo downtown for 200k, 300k, 400k or 500k, when you can get a nice house, with more space in a well maintained suburb for the same price?? .....

Not so certain. Toronto and Vancouver are very different markets. The problem in Toronto (from the Globe article) is a lot of new building coming on line and perhaps an oversupply.

In the case of Saskatoon. I had a quick look at the MLS listing and asking prices.

On the other side of river there is a building on Saskatchewan Crescent with two two bedroom condos on the market asking $800k and $999k. On 12th street there are two units asking $479k and 549k. The tower next to the Radisson has no units for sale in MLS; and that building is usually expensive. There is a fairly new high-risk on Spadian Cresent and 24th that has three units on the market at 333k, 339k, 469k.

There clearly is a market for river front condo's in Saskatoon with prices in excess of what the same square footage would cost outside of the core. What I am not certain of is if the market is big enough to absorb a 20+ story building. I hope it is.

Brutopian · #**2847** Posted **Jun 13, 2012, 4:02 PM**

Montgomery apartment complex nets grant, tax break

By David Hutton, The StarPhoenix June 13, 2012

An apartment complex on the edge of Montgomery Place will receive a $750,000 grant and be property tax-free for five years.

Under a rental construction incentive program, the city will provide a five-year property tax abatement to Broadstreet Properties for the 192-unit four-storey apartment development on 11th Street West. The province will match the amount provided by the city's incremental tax abatement, which is estimated at $756,000.

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Read more: http://www.thestarphoenix.com/Montgomery...t+break/6773116/story.html#ixzz1xgss1EaU

prairieguy · #**2848** Posted **Jun 13, 2012, 6:42 PM**

Quote:

Originally Posted by mattykicks

I think construction of the office tower at River Landing is just a matter of time. But that's a different ball game than the Condo Tower...

The only advantage to buying down town in Saskatoon is..... well... because some people like living along the river downtown. And I think that is an expensive proposition that not many people in Saskatoon can afford to make.

I'm calling this right now. Construction on the (I believe it's 18 story) office tower will begin sometime in the next 12 months. Work doesn't begin on the 27-28 story condo tower for atleast 6-9 years. And probably more. The market is too volatile and the city isn't big enough.....

Well, I can tell you that my wife and I have been looking for 3 years for a condo either close to Broadway/River or downtown. There is nothing yet built that meets what we are looking for...the inventory is extremely low for this kind of condo and we are looking in the $450,000 to $550,000 range. We have been so frustrated that we have even looked, god forbid, in the suburbs for a place that provides 'walkability'. A unit in Lawson Heights that was 3 blocks to river and close to parks and shopping centre for a price of $500,000...but, we also want to be close to restaurants, shops, coffee shops, entertainment so decided to pass on the Lawson Heights one.

We cannot wait for the River Landing condos to be built...we would definitely be looking in to those and I truley believe we are not alone!

Echoes · #**2849** Posted **Jun 13, 2012, 7:55 PM**

Chalk me up as someone who doesn't only want to buy a condo in the city centre, but intends to once it comes time for me to buy. Though my budget is a lot smaller, $250-300k max. Condos in this range can be found in City Park, where I'll probably end up.

If the River Landing condo provided simpler, compact, one-bedroom units in this price range, then I'd be interested (unlikely).

(I realize that the people that frequent SSP are more likely to want to live in a denser, more urban environment...a big reason why I'm here...and are definitely in the minority of the general population.)

Crisis · #**2850** Posted **Jun 13, 2012, 8:52 PM**

My recollection is that during the Lobsinger days of River Landing Village, those condos were being marketed in the $500 per square foot range, with the greatest demand being for the larger units. I'd be curious to see what the price point will be for the new RLV units when the time comes.

socialisthorde · #**2851** Posted **Jun 13, 2012, 8:59 PM**

It will also be interesting to see what the sizes are. Coming here from elsewhere, I was really suprized at how large the average condo is. In Vancouver and Toronto for instance, many two bedrooms are in the 6- 7 hundred square foot range, with some even smaller, where here, many one bedrooms are close to a thousand. Weird, because some of the older hoses here are incedibly small - I'm sure way less than a thousand square feet. With increasing price per square foot, I would imagine the square footages will come down.

macca · #**2852** Posted **Jun 13, 2012, 9:38 PM**

High-profile projects get green light
Lana Haight, The StarPhoenix
Published: Saturday, June 09, 2012

Three high-profile construction projects in Saskatoon are another step closer in their development after being approved by the Meewasin Valley Authority board.

http://www2.canada.com/saskatoonstarphoe...?id=2cef23b6-a59f-4d53-ad9b-67783fee775b

kgc087 · #**2853** Posted **Jun 13, 2012, 9:52 PM**

I can't even keep track anymore of how many of my friends left Saskatoon b/c there is no urban living here. I think that's a really big thing for some young people. Generally the more creative/business oriented people prefer to live right in the heart of the action. I don't think Saskatoon will experience a condo market correction anytime soon, maybe suburban homes, but that's it. I'm not sure about Vancouver but when I moved away from Toronto there were plans for 100+ condos to go up in the d/t core. These aren't little buildings either, we're talking minimum 40ish floors to max 80ish. I just don't think the city has that many people to handle the influx of units! In fact, I think the opposite will happen in stoon if the RL condo goes up. I think it will stimulate other developers to do something equally as bold in the city. I wouldn't mind another crop of condos in the south downtown just like the ones near city park.

Ruckus · #**2854** Posted **Jun 14, 2012, 1:57 AM**

A young city turns to young planners

By Charles Hamilton, Bridges June 13, 2012

Our province is getting younger. From 2006-2011, Saskatchewan increased the contingent of babies by 19.6 per cent. By 2026, Saskatoon will see a 47 per cent increase in preschool aged children, from six per cent to seven per cent of the total population. But are our cities, the places we live, being built for young people? Do kids really care about the way our city looks? The way it is designed, built and managed?

Two young Saskatoon urban planners are looking to answer those questions. They have created a summer camp designed to engage children as young as 10 in the world of urban design.

“We found that in the planning community, a lot of it is preaching to the converted,” says Paulette D’Eon, one of the brains behind Living Cities 4 Kids’ Urban Design Camps. “That’s where this camp started — we wanted to start the conversation in children and maybe they could bring it home to their families.”

D’Eon and her partner Pamela Larson want to get kids thinking about their own cities and neighbourhoods. The idea of Living Cities 4 Kids is to inspire the next generation of critical, urban-minded citizens.

D’Eon and Larson are both products of the University of Saskatchewan’s Regional & Urban Planning program. They both started working for the non-profit Roadmap Saskatoon last summer. It was while volunteering there that they came up with idea for the camp.

[...]

Read more: http://www.thestarphoenix.com/business/y...lanners/6775804/story.html#ixzz1xjCoYGAu

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Great initiative. Curious to know what some of those children thought about living in higher density, more walkable neighborhoods.

Jerry · #**2855** Posted **Jun 14, 2012, 1:13 PM**

Here is some of the original pricing for RLV.

We moved downtown 5 years ago with the hope of landing a condo at RLV and are still waiting. Our first option was to rent and see if we liked the urban lifestyle which we really love. However, looking at these 5yr old prices we can't imagine what they will be like in the future. Also I'm guessing we are looking 5 yrs or longer before anything gets built. Our advice for anyone considering the lifestyle is to just do it as time waits for no one.

Brutopian · #**2856** Posted **Jun 14, 2012, 3:12 PM**

Olson has eye on the prize

By Jenn Sharp, The StarPhoenix June 14, 2012

Curtis Olson, the owner of Shift Development Inc. is one of eight finalists in Canada in the BDC Young Entrepreneur Award. Olson is currently expanding the Two Twenty, a co-working space for Saskatoon's mobile workforce. He's bought the building next door and is adding another 18,000 square feet to the current facility, located at 220 20th St. W. Votes are accepted online for each of the finalists. You can vote once per day until June 19 at 10 p.m. The winner of the $100,000 grand prize will be announced June 25. The easiest way to vote and to find out more about Olson's project is through www.thetwotwenty. ca.

Q: Why do you think you were selected in the innovation category?

A: I think for a couple of reasons. One, is it really is an innovative workspace that we're building out here and a world-class facility. Secondly, the facility is a bit of a catalyst for supporting entrepreneurship and startups, which is one of BDC's core mandates. Also, I think because we have a track record of being able to deliver innovative projects so I think BDC had confidence in what we were proposing to do. (They) saw multiple things that would benefit both us and the community through being able to do this expansion and being able to open our doors to a bigger market in Saskatoon.

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Read more: http://www.thestarphoenix.com/business/Olson+prize/6779463/story.html#ixzz1xmWljP2R

Brutopian · #**2857** Posted **Jun 14, 2012, 3:28 PM**

South East Concept Plan Public Open House on June 27, 2012

For Immediate Release: June 12, 2012

The City of Saskatoon and Rural Municipality (RM) of Corman Park invite the public to a South East Concept Plan open house on Wednesday, June 27, 2012, at the Saskatoon Christian School (Highway 16). The purpose of the open house is to share the draft Concept Plan with the public and to gather any additional input for the South East Concept Plan area.

South East Concept Plan Public Open House
Wednesday, June 27, 2012
4:00 p.m. to 7:30 p.m.
Saskatoon Christian School, Multi-Purpose Room
South of Highway 16, along Melville Street, East of Range Road 3050, RM of Corman Park

[........]

Read more:
http://www.saskatoon.ca/FORUM/News%20Rel...ceptPlanPublicOpenHouseonJune272012.aspx

molasses · #**2858** Posted **Jun 14, 2012, 3:44 PM**

MoSoFEST kicks off in Saskatoon

By Jeanette Stewart, The StarPhoenix June 14, 2012 10:44 AM

Read more: http://www.thestarphoenix.com/entertainm...skatoon/6779440/story.html#ixzz1xmer8KbU

A new music festival that gets its inspiration from SXSW and other club-hopping celebrations around the world is launching tonight in Saskatoon.

This is the second year of MoSoFEST, but it's the first year the event has expanded to include several venues and more than 50 independent bands of different genres from Saskatoon and across North America.

Organizers have booked almost all of the popular Broadway venues (and Louis'). Add to that a handful of secret shows, surprise appearances and a late night DJ set called the Poutine Routine, and the weekend promises to start the summer festival season off with a bang.

The festival was started when the founders of the Canadian Mobile Social Conference - which brings tech and social media experts from around the world to Saskatoon - decided to add a music component to their popular conference.

Priority passes for the festival are sold out, but tickets are available at the door of each venue.

Shows are $10 with the exception of those at the Broadway Theatre, which are $15. Shows are staggered, so festival goers can hop from venue to venue and still catch plenty of different artists.

Read more: http://www.thestarphoenix.com/entertainm...skatoon/6779440/story.html#ixzz1xmej34a5

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Very cool to see a festival/conference like this happening in Saskatoon.

TechnicalRecession · #**2859** Posted **Jun 14, 2012, 6:20 PM**

Quote:

Originally Posted by Jerry

Here is some of the original pricing for RLV.

We moved downtown 5 years ago with the hope of landing a condo at RLV and are still waiting. Our first option was to rent and see if we liked the urban lifestyle which we really love. However, looking at these 5yr old prices we can't imagine what they will be like in the future. Also I'm guessing we are looking 5 yrs or longer before anything gets built. Our advice for anyone considering the lifestyle is to just do it as time waits for no one.

I don't know a lot about the housing prices in Saskatoon, but when I look at this list I think wow, I could drop close to 300K to get a place less than 600 S.F. And it goes up from there. This is the problem with these condos, yeah they are in a great location and a certain portion of the population find this appealing, but it is likely a small portion of the total market. I think these appeal to young single working people, who probably have a limited income for housing, and maybe to empty nesters who are downsizing from the suburbs and have the cash. But the bulk of the market, like families probably don't see this and an ideal housing option, when there are cheaper, larger options in the suburbs.

Now I get it, these prices are old but they look similar to the Capital Pointe prices and I suspect that when the new pricing comes out it won't be too different. Not to mention, as a buyer you aren't gonna know when you get possession until they sell enough to begin construction. There are people in Regina who bought into the Cap Pointe project 2 years ago and they still don't know when they are going to be able to move in, not ideal if you are looking to buy a home.

Hopefully this concept flies in Saskatchewan, but I suspect we are years away from seeing it happen. Just my two cents..

Brutopian · #**2860** Posted **Jun 14, 2012, 9:07 PM**

Photos: Prairie Lily riverboat unveiled on South Saskatchewan River

The official unveiling of The Prairie Lily riverboat took place at the dock behind the Mendel Art Gallery on June 13, 2012.

June 14, 2012, The Star Phoenix

The official unveiling of The Prairie Lily riverboat took place at the dock behind the Mendel Art Gallery on Wednesday. Guests were invited to come and go and enjoy the event.

Photographs by: Gord Waldner, The StarPhoenix

VIEW PHOTOS: http://www.thestarphoenix.com/travel/Pho...n+River/6782201/story.html#ixzz1xnxLrpU7