Price of former Capital Pointe lot drops 76%

Work continues to fill the Captial Pointe hole. File/Global News

If you’re in the market for “prime vacant land” in Regina’s downtown, the price of the former Capital Pointe site has plunged as the hole becomes increasingly shallow.

An updated listing from Cushman & Wakefiled Regina, lists 1971 Albert Street’s value at $2 million. The original listing pegged the property at $8.5 million.

No reason for the 76 per cent price drop is apparent in the property’s listing. Global News has reached out to the realtors handling the file, but neither was immediately available.

Work filling the 5-storey deep hole that previously occupied the site is nearing completion.

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City crews will be spending the weekend replacing a fire hydrant adjacent to the former pit at the corner of Albert Street and Victoria Avenue. Northbound Alberta Street traffic can expect restrictions during that time.

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