Yellow Quill expands urban reserve, waits on office building
Phil Tank, Saskatoon StarPhoenix
Published on: April 20, 2017 | Last Updated: April 20, 2017 6:00 AM CST
Quote:
Nearly five years ago, the Yellow Quill First Nation announced plans to build a five-storey office tower to replace a parking lot on a prime downtown Saskatoon location.
The project at the northeast corner of Fourth Avenue and 20th Street remains alive, but will require an anchor tenant to move forward, according to Ron Waddington, managing trustee of Yellow Quill Land Entitlement Trust (LET) and director of Yellow Quill Holdings.
The First Nation released plans for the building during the economic boom in late 2012, when the downtown office vacancy rate was a minuscule 1.84 per cent. The 75,000-square-foot building was supposed to be completed by the end of 2015, but the property remains a parking lot.
“Building on spec is completely out of the question,” Waddington said Wednesday.
The downtown office vacancy rate was estimated at 16.5 per cent at the end of 2016, making downtown office development a tougher economic choice.
[....]
|
http://thestarphoenix.com/news/local...ffice-building
^ Unsurprising news here that the Yellow Quill office building won't go be going ahead without a lead tenant secured. At least it hasn't been scrapped altogether, the building would be a lovely addition to downtown on a long-existing parking lot.