Prime land development is about to come a real possibility within the Saskatoon City limits. The University of Saskatchewan is preparing to lease more than half of its land holdings over the next four decades. This means nearly 1,000 acres of undeveloped land up for grabs within 5 kms of downtown Saskatoon.
The U of S has struggled to make ends meet in the last few years and this will help boost the revenue of the university. Developing the lands is projected to be worth close to $900 million and equates to 60,000 apartments with 180,000 residents at 3 per unit at the high-density end of the spectrum.
The area proposed would be 4 times the size of downtown Saskatoon.
The two most intriguing parcels of land feature prime riverfront land between the Railway Bridge and Circle Drive N and another east of the off leash dog park.
While this change won’t happen overnight, change has slowly started to occur. The beef research unit will be moving to 11 quarter sections of land south of Clavet.
Consultation is still needed to decide density types and how much of each, community and neighbourhood consultation with regards to traffic and noise, and the Meewasin Valley Authority which has precedent over the lands because of their proximity to the river.
This is an exciting prospect for our city and will surely change the landscape of the city we know. It’s a great opportunity, if done right, for more people to experience infill housing rather than seeing the city constantly growing dramatically outside it’s boundaries.
Saskatoon real estate agent
Century 21 Fusion