Luxury riverfront condo complex set to break ground in Saskatoon this summer

New luxury condos are coming to Saskatoon.

Two Twelve is a five-storey complex located on Saskatchewan Crescent East, behind Rotary Park. Construction is set to begin this summer.

There are only seven units, ranging from 1,700 square feet to 3,100 square feet. Prices start at $1.7 million.

Arete Developments is the group behind the new build.

“Everybody’s going to be facing the river. There’s a rooftop patio, huge balconies, elevators that open directly into your suite,” Rylund Hunter, one of the principals of Arete Developments, tells CTV News.

“It’s going to be a special building for the city.”

Hunter says pre-sales are underway, with 50 per cent of units sold.

The project has been years in the making

“Building on the riverbank is tricky. There’s overlapping jurisdiction with Meewasin, with the city, and certain zoning requirements,” Hunter says.

“It's been three or four years, and we hope to be in the ground this summer.”

An artist's rendering of the interior of a suite at Two Twelve. (Courtesy: Arete Developments)

Two Twelve is one of several new housing developments in the centre of Saskatoon.

Construction is underway for Baydo Towers: two 25-storey apartment buildings, at the bottom of the University Bridge at Fifth Avenue and 25th Street East.

And, a 19-storey apartment building is in the works on Spadina Crescent, between Knox United Church and St. John’s Anglican Cathedral.

Brent Penner, the executive director of Saskatoon’s downtown business improvement district, is happy to see development in the city core.

“There’s been a desire to have more people living in the city centre for many years now,” Penner says.

Saskatoon’s growth is happening fast, according to Penner, referencing the towers and condo building on River Landing.

Construction of a new downtown library is set to begin this spring and the new arena location has been selected by Midtown Plaza.

While Penner says one of the major draws to downtown living is events and entertainment, Taste of Saskatchewan cancelled its event this year and the Saskatchewan Jazz Festival’s main stage is moving from the Delta Bessborough to Victoria Park in Riversdale.

Penner says this just “creates opportunities” for other events.

“For example, Food Truck Wars this year is talking about having a bigger footprint,” he says.