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December 17, 2014

Saskatoon City approves plans for two oversized towers

Kingdom Hotel Investments has bought two Cambodian hotels from Raffles Holdings in a $35 million deal. Dubai-based KHI, backed by Saudi Prince Alwaleed bin Talal, bought the Raffles Hotel Le Royal in Phnom Penh, and the Raffles Grand Hotel d'Angkor in Siem Reap, in a bid to tap emerging

Saskatoon City council in Canada has effected zoning changes in order to approve the construction of two high-rise towers.

Mayor Don Atchison said the latest development represents a great step forward for Saskatoon.

Saskatchewan-based builder Prairie North Developments will build the 105m tower at the corner of Third Avenue South and 22nd Street East, and the adjacent 87m tower at the corner of 22nd Street East and Fourth Avenue South.

"There’s shifts in priorities and tastes and that’s starting to happen in Saskatoon. "I think there is real opportunity in our downtown."

The towers will be part of a single complex, which has already completed its first phase. The buildings are planned as part of the next two stages of construction.

Occupying 29 floors, the 105m tower is expected to become the city’s tallest structure and will house around 290 residential units and 200 parking spaces.

The smaller, 19-storey tower includes 12 floors of office space.

The buildings will also include 55 parking spaces for the public, which allows Prairie North Developments to exceed the city’s downtown height limit of 76m.

Municipal planning commission chair Janice Braden said that concerns pertaining to the street level appeal of the buildings and the cost of the residential units have been addressed.

Counillor Charlie Clark said: "There’s shifts in priorities and tastes and that’s starting to happen in Saskatoon.

"I think there is real opportunity in our downtown."

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