Rough transcript. Condos purchases have increased substantially in recent years as the cost of housing has moved higher. Just ten years ago, condo sales accounted for roughly 16 percent of Saskatoon’s MLS® housing market. This year, condominiums account for roughly 27% of all residential resale activity on the Saskatoon multiple listing service®. According to the [...]
Following what seemed like an endless string of starts and stumbles for the troubled River Landing Village project, local developer Victory Majors Investments Corp. seems to be delivering with a third forward step after taking the reins in late October when they purchased Lake Placid Development’s equity in the project. At that time, they produced [...]
In a 9-2 vote last night, city council agreed to sell Parcel Y in Saskatoon’s Central Business District to Lake Placid for development of their proposed River Landing Village. According to a story on the Star Phoenix website, “An agreement is now in place to develop the city’s most coveted piece of riverfront land with [...]
Following what Mayor Don Atchison described as “the most due diligence that the city has done on any land sale,” an agreement was struck with Lake Placid Developments to purchase “Parcel Y” at River Landing in Saskatoon’s Central Business District for a price of $5,240,494 yesterday. Star Phoenix writer David Hutton is reporting that “City [...]
Star Phoenix reporter Dave Hutton says that the City of Saskatoon is reviewing downtown housing incentives in hopes of finding better ways to attract new residents to the area. Over nearly a decade, the city has provided $4.8 million worth of tax abatements to people buying homes in various condo projects. Dave reports that this [...]
In a 10-1 vote last night, Saskatoon city council voted in favour of re-opening negotiations with Lake Placid Developments for the purchase of “Parcel Y” at River Landing in the Central Business District. There are two major questions that still need to be answered. 1. Does Lake Placid have sufficient financing to complete the project? [...]
According to recent appraisals of the land known as “Parcel Y” today’s current market value is somewhere between $10.4 million and $11.6 million, well over twice its value in 2006 when it was purchased by Lake Placid Developments for $4.8 million. That deal fell apart when Lake Placid failed to pay the purchase price when [...]
According to a story in today’s Star Phoenix, Lake Placid Developments is seeking a one-year extension on the current deadline to complete the excavation of the building site for its proposed $200 million River Landing development. In a letter to the city, the developer requested an extension to June 30, 2010. City manager, Murray Totland [...]
I received this email today stating that the title issues we previously heard about that were holding Lake Placid back on the River Landing Village project have been resolved and that construction will begin “as soon as changes are complete.” Dear Norm, “The legislation needed to move forward with two of the biggest private developments [...]
Monday night’s meeting of Saskatoon city council’s executive committee produced nearly five hours of “discussion and heated debate,” on proposed changes to the city’s condo conversion policy according to a report in this morning’s Star Phoenix. The majority of the councilors in attendance ultimately voted to put the brakes on the trend toward rapid and [...]
There’s a bit of a debate occurring on another post about whether or not Saskatchewan needs to implement rent control legislation. Few would disagree that this market is extremely tough for renters and it would be difficult to make a case that Saskatoon renters don’t need some help right now. Is rent control the right [...]
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