The City of Saskatoon and Arbutus have reached an agreement, which allows for the potential development of 2775 Meadows Parkway in Rosewood to move forward. Arbutus wanted to have a hold symbol removed from the land where they wante to build an affordable housing apartment tower but City Council denied the request last fall.

A hold symbol means no work can begin on the building until the lot is serviced, which in this case is $7-million worth of sewer infrastructure which the company hadn’t finished yet. Arbutus also owed the City about $2.6-million in outstanding fees and levies. The developer then told Council that without the hold being lifted there would be cash flow issues so there would be a delay with the project and they also wouldn’t be prepared to invest in the downtown Pitchfork Marketplace.

A news release from the City today (Fri) says the agreement resolves the financial matters. City Administration and Arbutus have worked together over the past months to come to this agreement, which will now be considered by City Council at its meeting on Wednesday.