The $50-million commercial tower in downtown Saskatoon is projected to stand 8 to 9 storeys tall
Saskatoon-based real estate developer Canwest Commercial and Land Corp. has taken the first steps towards erecting a $50-million tower in the inner city area, projected to commence construction this summer.
With a target completion date of 2019, the “World Trade Center Saskatoon” development is a 120,000-square-foot, 8- to 9-storey office tower that would be the first of its kind in the city, meant to take advantage of a potential turnaround for the local economy.
“When the economy is a little slower, prices could be … lower on the construction side,” according to former mayor and Canwest senior consultant Don Atchison, as quoted by Saskatoon StarPhoenix. “And when you are through construction, hopefully the economy … has started to turn, as opposed to starting to build at the peak (and) paying a premium.”
Atchison added that membership in the World Trade Centers Association will give the building’s tenants access to a global network of business connections. The consultant declined to identify the tenants.
“The plans behind this project are impressive, and we look forward to receiving the full application to help this region of Canada take full advantage of our extensive global network,” WTCA CEO Scott Ferguson wrote in a statement.
Atchison confirmed that further details such as the building’s design shall be revealed within the next few weeks.
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Available office space in Vancouver affected by commercial development cycle slowdown
Interest rate hike might threaten Canadian commercial real estate sector's prospects
With a target completion date of 2019, the “World Trade Center Saskatoon” development is a 120,000-square-foot, 8- to 9-storey office tower that would be the first of its kind in the city, meant to take advantage of a potential turnaround for the local economy.
“When the economy is a little slower, prices could be … lower on the construction side,” according to former mayor and Canwest senior consultant Don Atchison, as quoted by Saskatoon StarPhoenix. “And when you are through construction, hopefully the economy … has started to turn, as opposed to starting to build at the peak (and) paying a premium.”
Atchison added that membership in the World Trade Centers Association will give the building’s tenants access to a global network of business connections. The consultant declined to identify the tenants.
“The plans behind this project are impressive, and we look forward to receiving the full application to help this region of Canada take full advantage of our extensive global network,” WTCA CEO Scott Ferguson wrote in a statement.
Atchison confirmed that further details such as the building’s design shall be revealed within the next few weeks.
Related stories:
Available office space in Vancouver affected by commercial development cycle slowdown
Interest rate hike might threaten Canadian commercial real estate sector's prospects
