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As towers rise and the future takes shape along Saskatoon’s River Landing, the next phase of development could start next year.

Saskatoon city hall administration is recommending the next parcel of land be put up for sale next spring or summer with an asking price of $10.5 million.

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The 1.67-acre riverfront site known as Parcel D is bordered by Idylwyld Drive and Avenue A South, just west of Remai Modern art gallery.

A report to be considered by city council’s finance committee on Monday says the time is right to consider selling the prime city-owned land.

“The city has created strong conditions for favourable private investment by improving the public realm of the area to a high standard,” the city report says.

SASwp

The city is taking a methodical approach to the sale of its land in the River Landing area after the much-delayed project on Parcel Y, west of the Remai Modern.

On that prime location, a 20-storey condominium tower and hotel are expected to be completed next year with the first of two office towers starting to rise from the ground.