Capital Pointe 'right on schedule'

By Kerry Benjoe, Leader-Post, April 9, 2014 - A spokesman for the Capital Pointe condominium project says everything is going ahead as scheduled. Brian Tilley, vice-president of sales and marketing for Augustine Group, said since taking over the project last year, progress has been made on the proposed 26-storey condominium and hotel building.

"We had announced that we were most likely going to start construction in the spring of 2014," he said on Tuesday. "Spring of 2014 is only two weeks old."

Tilley said the structural drawings for the condo project, to be located at the corner of Albert Street and Victoria Avenue, are now complete.

"We are ready to submit for our foundation permit," he said. "Frankly, we are right on schedule and are where we believed we would be right now."

He disputes any reports that the project will be delayed a year.

Tilley anticipates shovels will be in the ground by July.

In December, the project development director said negotiations with a potential hotel buyer were underway and expected to wrap up.

Tilley said the structural drawings were modified as requested by that potential hotel buyer.

About 50 per cent of the units have been sold and Tilley expects that as soon as construction begins, the remaining units will be sold.

"As well, through those structural drawings and modifications, we have also gone with some new suites that we are very excited to release to the market in the next month or so, that (meet) the demands that some of our potential purchasers have asked for in terms of square footage and what they want in their suites," Tilley said. "So everything

that is happening has been very positive."

Mayor Michael Fougere said minor delays are to be expected, and said he believes the project will be completed in 2016 as projected by the group.

"They have made a substantial commitment and financial commitment with the expenses of moving some of the underground power lines (at) the site, and that's not an insignificant amount of money to put into that," he said. "If they are delayed because of some design changes, then that is fine."

In April 2010, city council approved the build and the following month it approved a revised plan. In September of that year, demolition of the old Plains Hotel began, and once that was complete no further work was done at the site. In March 2011, Westgate Developments joined BrightStar Corporation on the project.

Six months later, some deposits that had been paid for condos were returned. The project remained at a standstill until Augustine Group relaunched it last May.

Tilley said he will be in Regina next week to provide an update and answer further questions on the project.

(Check out our interactive timeline of the history of the Capital Pointe project)

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