The City of Saskatoon needs to continue in its attempts to attract "a structure of major substance" to the vacant anchor site at River Landing, whether it's Lake Placid Developments' proposed megaproject or something else, Mayor Don Atchison said in a recent interview.
"First of all, we need to have a major structure there because our plan, right from Day 1, was to make sure this is self-financed and that the operational side is carried by taxes of the entire River Landing," he said. "If we don't do that, there could certainly be some grave implications here for us."
Atchison's comments come in advance of the city's executive meeting today where council will consider a report from the administration on the future of what is known as Parcel Y, the much-debated 2.43-acre piece of riverfront property the city has slated to be the private development anchor of the $82.1-million River Landing project. City administration is recommending reissuing the request for proposals to build a project in the same vision that was developed during public consultations five years ago.
The administration report recommends getting a new appraisal for the city-owned Parcel Y and going back to market with requirements identical to those sent out in 2007. That request, which called for a hotel, street-level retail, restaurants, residential use, a public gathering place and public parking, found only one bidder, Lake Placid Developments, that met the requirements.
Councillor Charlie Clark said that the city needs to scale back its vision for the site to something more manageable, removing some requirements and focusing on attracting smaller, market-style restaurants and shops. Much still hinges on whether Lake Placid Developments CEO Michael Lobsinger, who still wants to build his $200-million hotel-office-condo development, comes to today's executive committee meeting with financing in place.
The plans for Lake Placid's development show hotel, condo and office buildings curving around a raised central plaza, which would be open to pedestrian traffic from three directions. The plaza would feature a kidney-shaped wading pool that would double as a skating surface in winter, with a circular gathering area designed to hold a huge Christmas tree during the holidays.
Councillor Darren Hill said he supports relaxing the criteria for the site in concert with local developers before reissuing the request for proposals He said Lobsinger's company can line up with others who have come forward to show an interest.
"Lobsinger's deal is done; we have no contract with him," he said. "If he wants to bid again, he can. I don't think whether the money shows up should have anything to do with it."
Local developers, some working together with out-of-province partners, have contacted councillors to say they're interested in the site if there are some revisions to the city's requirements, he said.
"I think we have to allow some flexibility for developers," Hill said.
But if the Lake Placid financing arrives, Atchison said council has to make some decisions.
"It's important we push ahead right now," he said. "For me the main thing is for us to get started on us getting something built there."
Otherwise, it's critical to head back out to the market and seek other interested developers given that the financing plans for River Landing hinge directly on a major development at that site, Atchison said. Civic administration has been clear that more delays in selling the vacant land on the site put the economic plan for the River Landing project in danger of no longer being self-financing.
City council voted earlier this year to cover a $6.3-million shortfall for some River Landing construction with future land sales expected to total more than $15 million. That calculation relied on the Lake Placid development moving forward.
Being able to attract private developers to vacant River Landing sites in the future relies upon a marquee anchor development, Atchison said.
"Some people think the project has too much magnitude to it, but maybe people need to partner together," he said. "The city is growing into a different age now that a lot of these larger projects need many partners."
The City of Saskatoon needs to continue in its attempts to attract "a structure of major substance" to the vacant anchor site at River Landing, whether it's Lake Placid Developments' proposed megaproject or something else, Mayor Don Atchison said in a recent interview.
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