16-storey condominium added to Saskatoon's Parcel Y development

The next piece of Saskatoon's riverfront development known as Parcel Y has been confirmed and includes at 16-storey condominium by Toronto-based developer Urban Capital.

On Wednesday the City of Saskatoon invited media to a ground-breaking ceremony at Parcel Y just east of the Remai Modern Art Gallery of Saskatchewan.

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The condominium will have approximately 125 units and will serve as the residential component of River Landing's Parcel YY development.

Saskatoon Mayor DonAtchisonsaid it wasan emotional day for him,because many people had beenwondering if thedevelopment wouldevertake shape.

"When you take a look at how much you love the city and how we had people, for so long, doubt that anything would happen herefor this to happen today, it's absolutely breathtaking," he said.

The condominium will be built adjacent to the Alt Hotel on the southern portion of the site.

Construction will be managed byBlockstaelConstruction, Urban Capital's construction manager for its Glasshousedevelopment in Winnipeg.

Condominium sales will be launched in early fall 2016. Construction of the condominium is anticipated to start next summer to be completed by 2019.

A project spokesperson said the rest of the plan calls for two office buildings, a15-storeyand another22-storeybuilding, with the possibility of rooftop patios and winter gardens.

It's estimated once the build out is complete about 2,000 people will be working in River Landing daily.