Work could soon begin on oft-delayed Regina condo project
With new management involved, work is set to begin on the much-anticipated and oft-delayed Capital Pointe condominium project in downtown Regina.
The project site at the corner of Albert Street and Victoria Avenue, one of the city's busiest intersections, is holding pipes and other building materials, but construction on the building itself has been in limbo for many months.
Several years ago, when the $70-million project was announced, it was going to be 26-storeys, one of the province's tallest buildings, combining a hotel, condos and commercial space.
But last year, when the Brightstar company was in charge, the project's two-year development permit expired.
New developers, Augustine Group, are now involved in the project and they told reporters Wednesday work will begin soon.
The company said the condominium portion of the building will have 180 units, including a penthouse residence that will be priced at over $3 million.
The hotel will have 144 suites. The new managers said they are still negotiating which hotel company will take the space.
While Augustine Group is taking over the lead to manage the project, Brightstar Corporation remains attached to the plan.
The Augustine Group is based in Niagara Falls, Ont., and describes itself as an experienced luxury condominium developer.