Riversdale: A Hot ‘New’ Neighbourhood in Saskatoon

Riversdale has affordable housingRiversdale is a Saskatoon neighbourhood that’s being called “the next big thing.” From humble beginnings, it has seen numerous developments that have improved its image. The widened sidewalks that provide extra space for pedestrians and bike racks are among the many improvements that make this neighbourhood an ideal area to buy Saskatoon real estate. But it wasn’t always this way.

Making its Transition

Riversdale has a colourful history, and it was once a thriving community with its 20th Street West commercial area. Unfortunately, it succumbed to neglect and crime during the 1960s, and became an area known for violence and substance abuse. However, at the turn of the Century, a shift happened, and property in the area began to change hands, leading to the opening of new businesses. The real estate boom seems to have attracted many young entrepreneurs.

Affordable housing prices have made the area a Saskatoon real estate hot spot. With this, there’s been an influx of businesses trying to capitalize on the neighbourhood’s affordability. According to a recent article published in the Globe and Mail, startups and smaller businesses find Riversdale ideal and accommodating, with this area seeing 22 new restaurants opening in the last 3 years alone.

Well maintained homes and businesses have transformed the neighbourhood into a safe area where residents can walk around late and shop. The Goble and Mail also noted, however, that as the popularity rises, so do the rates on leases. They’re now double what they were only 5 years ago. With leases up, property values have tripled. These prices, however, are still better than those in upscale areas, and many still consider properties to be selling at bargain prices. If that sounds good to you, contact me, a Saskatoon realtor with decades of experience and listings available in the area.

Riversdale at a Glance

Riversdale has its streets named alphabetically from A to Y, leading some to refer to it as the Alphabet City. It has a mix of thrift stores and high-end boutiques. There’s also a farmers’ market next to a new upcoming project that’s close to completion, known as “The Banks”. This mixed-use condo injects more life into the neighbourhood enhancing its style while blending well with the other stores. To help ease traffic out of the neighborhood, the Circle Drive South Bridge was opened in 2013.

For more information on the Riversdale area and to learn how you can acquire residential or commercial property, get touch with me, a trusted Saskatoon realtor.

 

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