17. April 2008 by Kari Calder.

The topic of condo conversions in Saskatoon has been a hot topic for the past year.  Many Saskatoon renters have been demanding the city of Saskatoon do something to address the extremely low vacancy rate for rental property in the city.  Many apartment building owners over the past two years have been taking advantage of the extremely hot Saskatoon real estate market and selling off their properties or converting them to condos themselves.

On Monday, April 14th after 5 hours in what the Saskatoon Star Phonenix described as a heated debate, a majority of city council voted to change civic policy so that apartment buildings will no longer be allowed to be converted into condos while the Saskatoon vacancy rate remains below 1.5%.  This could potentially be a big victory for Saskatoon renters but also could help to increase Saskatoon condo real estate prices in our city.  With less condos available on the market the average price will rise as the demand increases.

This new policy has not been officially passed and is still subject to another vote at council’s next regular meeting on April 21st.  If the policy is approved there are 14 existing buildings that filed for approval to be converted in 2007 that will not be subject to the new policy.  However any projects that were not submitted before the policy was passed will have to now wait until the Saskatoon vacancy rate rises above 1.5%.  It is expected though that the policy will provide special loop holes so that the city may still approve special projects such as buildings that have previously been condemned or else existing vacant buildings.

If you are currently interested in buying a condo in Saskatoon it may be a good time to start looking.  If the new policy is passed it will have an impact on Saskatoon condo prices.  Whether you are looking at buying or selling a condo in the Saskatoon real estate market be sure to contact me!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

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17. April 2008 by Kari Calder.

On April 22nd to May 4th the Meewasin Clean-Up Campaign will kick off.  This is a great opportunity as a Saskatoon resident to show your pride in our city and contribute a bit of your time to ensure our city remains beautiful and clean.  This is an annual event and will kick off at St. Edward School in Westmount. This event is sponsored by Affinity Credit Union.  This is a great event to attend and show your support for our city.  Remember the more appealing out city is to visitors the more our Saskatoon real estate market will continue to grow as people discover the beauty and appeal of our city!

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Posted in Saskatoon Events, Saskatoon | No Comments »

17. April 2008 by Kari Calder.

The city of Saskatoon along with the Meewasin Valley Authority are facing the same challenge that many people interested in getting involved into the Saskatoon real estate market are.  Due to the rising costs of construction materials and the shortage of labourers and contractors, the completion of the Saskatoon river landing project will probably be delayed.  In a recent article from the Star Phoenix, it states that the Meewasin’s chair recently sent a letter to provincial government outlining the challenges they are currently facing.  Many of the tenders for the project have come back way over original estimates and in some cases they are 50% - 100% more.

Hopefully the provincial government will be able to provide some sort of additional funding for this project.  The river landing project will be a great addition to the city of Saskatoon and ensure that our river front maintains it’s beauty and attraction to both residents and visitors of the city.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

Posted in Saskatoon News, Saskatoon | No Comments »