Price tag for Capital Pointe property drops

The price tag on the Capital Pointe lot has dropped significantly now that the hole is mostly filled in.

The 0.71-acre property was initially listed by Cushman & Wakefield Regina for $8.5 million in April.

The listing has since been updated with a new price tag of $2 million for the lot at the corner of Albert Street and Victoria Avenue in downtown Regina.

Work to fully fill in the hole that sat at the location for years is expected to be complete in October.

Capital Pointe once was meant to become the tallest residential tower in Saskatchewan at 27 storeys, but the project faced several delays with little development, sitting as a hole in the ground for years.

The City of Regina took Westgate Properties to court, which led to a ruling to fill the hole. After the deadline passed for Westgate to do it on its own, the city set out to find a contractor to do the job.