Building The Banks
Developer takes on urban renewal in Riversdale
By Joanne Paulson, Saskatoon Express
Issue: Week of Jan 19, 2015
Chris Le Fevre could be described as a bit of a contrarian, and he’s not likely to be offended by the term.
For example, he strongly disputes the commonly held view that successful real-estate investing is all about location, location, location.
“I never agree to that. I always feel it’s timing,” said Le Fevre in a recent interview. “You can have bad luck if your timing isn’t right. I think my timing, fortunately, was right. But that having been said, I’m not finished the project yet; it won’t be finished until the spring of 2016.”
He is talking about The Banks, the four-building residential and small-space commercial project presently rising next to the Saskatoon Farmers’ Market in Riversdale. The buildings’ names reflect their water-side environment: The Riverbend, The Edgewater, The Current and The Bridge. They comprise 134 residential units and 20,000 square feet of commercial space.
As of mid-January, $30 million worth of apartments have been pre-sold — without spending a dime on advertising, Le Fevre notes with some pride. That, above all, tells him his timing is right.
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