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Despite Saskatoon high downtown office vacancy rate and a recovering economy, the consortium building three towers on Parcel Y at River Landing has started the first of two office towers.

The prime riverfront site, which had become symbolic of delayed and shifting proposals and changes in ownership over a decade, is now helping alter the downtown skyline.

The condominium tower has risen to about half of its eventual 20 storeys next to the just opened Remai Modern art gallery. The adjacent Alt Hotel is also taking shape. Preliminary work has begun on the office tower site, where digging is set to start in January.

a significant commitment to the Saskatoon marketplace to be starting at this time, said Blair Sinclair, vice president of investments and development with Triovest Realty Advisers,
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in a Thursday interview. are building. is among a conglomerate of companies building the project, including Saskatoon Victory Majors Development Corp. The estimated cost is about $300 million.

Sinclair said the hotel and condo towers are on track to be completed by 2019 and the first of two office towers are expected to be mostly complete by the fall of 2019, with full operation expected in the summer of 2020.

A public plaza will be built at the same time as the first 13 story office tower, Sinclair said. There is no start date yet for the second office tower, which is planned to reach 20 storeys.

This latest rendering shows plans for the hotel condominium office towers project on Parcel Y at River Landing on the banks of the South Saskatchewan River in Saskatoon, Sask. Work began recently on the east tower, seen here at right. (Triovest Realty Advisers Inc.)
the north face sale womens Construction of office tower begins at Saskatoon