16-storey condominium added to Saskatoon's Parcel Y development
Approximately 125 condos will go on the market this fall, construction begins next summer
The next piece of Saskatoon's riverfront development known as Parcel Y has been confirmed and includes at 16-storey condominium by Toronto-based developer Urban Capital.
On Wednesday the City of Saskatoon invited media to a ground-breaking ceremony at Parcel Y just east of the Remai Modern Art Gallery of Saskatchewan.
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The condominium will have approximately 125 units and will serve as the residential component of River Landing's Parcel YY development.
Saskatoon Mayor Don Atchison said it was an emotional day for him, because many people had been wondering if the development would ever take shape.
"When you take a look at how much you love the city and how we had people, for so long, doubt that anything would happen here — for this to happen today, it's absolutely breathtaking," he said.
The condominium will be built adjacent to the Alt Hotel on the southern portion of the site.
Construction will be managed by Blockstael Construction, Urban Capital's construction manager for its Glasshouse development in Winnipeg.
Condominium sales will be launched in early fall 2016. Construction of the condominium is anticipated to start next summer to be completed by 2019.
A project spokesperson said the rest of the plan calls for two office buildings, a 15-storey and another 22-storey building, with the possibility of rooftop patios and winter gardens.
It's estimated once the build out is complete about 2,000 people will be working in River Landing daily.