City council approves plan for River Landing development
Images from Victory Majors Investments Corporation
Matt Young, CTV Saskatoon
Published Wednesday, Jul. 18, 2012 6:14PM CST
Last Updated Thursday, Jul. 19, 2012 6:50AM CST
A proposal for a major development at River Landing took another step forward Wednesday night as Saskatoon city council approved its development plan. It's considered one of the last major steps council will face on the Victory Majors Invesments Corp. project, which consists of a 27-storey residential tower, 17-storey office tower, and 15-storey hotel.
"That is the final council approval that is required" says Tim Steuart, manager of development review for the City of Saskatoon. "From here there are administrative approvals required. They need to go through an architectural review, a building permit needs to be obtained"
The big question now is when will construction begin?
John Nasser, president of Victory Majors, says soil studies are being done on the site to assist with the design of an underground parkade. Once that's complete final renderings will be drawn up before they can apply for a building permit.
"It will be a function of how quickly we can come up with an efficient design for the parkade, and what our clients and stakeholders will want to see in the parkade." Nasser said when asked about a timeline on applying for a building permit. "And as quickly as the architects can come up with the drawings that we want, then it should be three to six months, we hope."
As for possible tennants of the new buildings, Nasser says they have been in contact with several chains to operate the hotel, and for the office tower. The developer is taking its time on the project to minimize any potential risks and ensure success.
"It's part of a long methodical process and it's been a rigerous planning session and we're going to continue that. We would rather have all of our risk taken out in the planning process and have minimal risk during the construction."
According to Steuart, once application for building permits are received they are usually approved within 60 days. Nassar says if everything comes together, he would ideally like to see shovels in the ground by the spring.