A prime River Landing plot could sprout Saskatoon's next high-rise condo building

The size of Parcel D, right next to the Sid Buckwold Bridge, is being increased to make it more attractive to buyers. It could fetch as much as $11 million, a former city planner says.

Parcel D could fetch as much as $11 million, according to city's former chief planner

Guy Quenneville · CBC News · Posted: May 28, 2019 12:55 PM EDT | Last Updated: May 28, 2019

Parcel D is currently being used as a parking lot next to the Sid Buckwold Bridge. (Guy Quenneville/CBC)

The next big Saskatoon riverfront parcel of land being put up for sale at River Landing will likely become another high-rise condo, according to the city's former chief planner.

"It'll probably be offered with a high content required for residential growth," Alan Wallace, the city's past director of planning and development, said on CBC's Saskatoon Morning this week.

"That's what drives our restaurants, our retail scene, our entertainment. It drives a lot of things you have to have people living downtown."

Host Jennifer Quesnel asked Wallace if he meant it would be a condo high rise.

"Yeah I think so," Wallace replied.

Land could fetch $11M: Wallace

The city has said it plans to put Parcel D, which is currently being used as a parking lot, up for sale in the spring or summer of 2019.

It's a prime parcel, bracketed by the former AT&T building to the north, the pigeon-poop-infested Sid Buckwold Bridge to the immediate east and, most importantly, a clear view of the Saskatchewan River and Meewasin Valley trial to the south.

Parcel D is right next to Parcel BB, the next prime River Landing plot the city will eventually put up for sale. (City of Saskatoon)

The asking price will potentially be $10.5 million, according to the city.

Wallace said he expects it to go for more than $11 million.

"That's because we've already spent an enormous amount of money, over $80 million dollars, on the public amenity which is the riverfront and the waterfront, the river itself," he said.

"So there are plenty of incentives to you know to to look at this site and go, 'Yeah.' "

Any size you like

The city will slightly increase the size of the parcel to make it more attractive to bidders. It will do so by amending an essentially dead piece of land that currently faces southern-bound drivers using the Idylwyld Drive rampway.

The city is adjoining this strip of land to Parcel D to make it more attractive to buyers. (City of Saskatoon)

The city decided on this after offering real estate brokers an early preview of its sales offering.

River Landing is already home to several high-rise buildings at various stages of completion: an Alt Hotel, a condo building and two business towers, one of which will be the new perch of potash giant Nutrien.