Lakewood Urban Centre, Saskatoon: Best for Condo Buyers and Investors, Not a Single-Family Market

Lakewood Urban Centre is a small southeast Saskatoon commercial and civic centre, not a typical residential neighbourhood, with a housing stock made up entirely of low-rise apartment condos and condo townhouses.

Lakewood Urban Centre at a Glance

Lakewood Urban Centre is a City of Saskatoon planning designation in Ward 9, classified as an urban centre rather than a standard residential neighbourhood. It combines a 100 percent multi-unit housing stock with a small commercial strip and Fire Hall No. 8, but no schools of its own. It is a fit for condo buyers and rental-property investors. It is not a fit for buyers looking for a single-family home or a neighbourhood school, since the City’s profile records neither.

According to the City of Saskatoon’s 24th Edition Neighbourhood Profiles, Lakewood Urban Centre had a 2025 population of 2,938 and a 55.0 percent homeownership rate. The same profile shows the entire 2024 dwelling count, all 1,540 of 1,540 total units, classified as multi-unit housing.

Quick Facts

Category	Lakewood Urban Centre Details
Area of Saskatoon	Southeast Saskatoon, within Ward 9, part of the Lakewood Sector
Population	2,938, City of Saskatoon Neighbourhood Profiles, 24th Edition, 2025
Homeownership Rate	55.0 percent owned, 45 percent rented (2021 Census)
Average Household Size	2.1
Main Housing Types	Low-rise apartment condos and condo townhouses only
Dwelling Mix	100 percent multi-unit housing, 0 percent single-family, two-unit, or semi-detached (2024)
Neighbourhood Area	97.5 hectares, or 241.0 acres, at 15.8 dwelling units per hectare
Main Civic Facility	Fire Hall No. 8
Park Space	54.0 hectares, or 133.5 acres, including Hyde (49.7 ha) and Trounce (4.3 ha)
Schools in the Area	None. The City profile states “No Open Schools Located in Neighbourhood”
Nearby Amenities	Boychuk Drive and Taylor Street commercial frontage; surrounding access to Lakeview, Lakeridge, and Rosewood
Transit and Road Access	Boychuk Drive and Taylor Street; no Lakewood-specific Saskatoon Transit route confirmed for this guide
Buyer Fit	Condo buyers and rental-property investors; not a single-family home or school-catchment market

The City profile includes time-sensitive real estate sales data showing average sale prices for the property types that sold in Lakewood Urban Centre in 2024. These figures should be treated as historical context, not a current pricing guarantee.

Where Is Lakewood Urban Centre in Saskatoon?

Lakewood Urban Centre sits in southeast Saskatoon, within Municipal Ward 9. Wikipedia describes the area as bounded by Boychuk Drive to the west and Taylor Street to the north, with its south and east boundaries formed by the neighbourhood of Rosewood. It is a small designation, occupying roughly 97.5 hectares, or about 0.93 square kilometres.

The area sits within the Lakewood Sector, near a cluster of surrounding residential neighbourhoods, including Lakeview, Lakeridge, and Rosewood, which it serves as a small commercial and civic hub rather than as a residential destination in its own right.

For buyers, the location offers direct frontage on Boychuk Drive and Taylor Street, both of which connect to the broader southeast Saskatoon road network.

What Is Lakewood Urban Centre Known For?

Lakewood Urban Centre is known as a small commercial and civic centre rather than a residential community. According to Wikipedia’s sourced development history, the land was annexed by the city between 1975 and 1984, and residential construction did not begin until 2003, after infrastructure was completed, producing a housing stock made up entirely of low-rise apartment condos and condo townhouses.

The area’s most notable civic facility is Fire Hall No. 8, shown on the City profile’s neighbourhood map along with streets including Herold Road, Herold Terrace, Herold Court, Pawlychenko Lane, and Slimmon Drive and Plaza. The City profile also identifies Hyde and Trounce as the two parks counted toward the neighbourhood’s park space.

Because the area functions primarily as a small service and civic centre, residents of surrounding neighbourhoods may pass through or use Lakewood Urban Centre’s commercial frontage along Boychuk Drive and Taylor Street without living there.

Who Is Lakewood Urban Centre a Good Fit For?

Lakewood Urban Centre is not a typical “choose a neighbourhood to raise a family” profile, because there is no single-family housing stock to evaluate and no school located inside the area. The City’s dwelling data shows the area is 100 percent multi-unit housing, so the realistic buyer pool is people looking for a condo, not a house.

With a 55.0 percent homeownership rate and a 2.1 average household size, the area appeals more to single people, couples, and smaller households than to larger families looking for a detached home with a yard and a nearby school. Some renting and owning households may still find a condo townhouse workable, but this is not the area’s dominant pattern, and the City profile’s own statement, “No Open Schools Located in Neighbourhood,” means families with children will need to look outside the area’s boundaries for a school.

The area can fit buyers who want a condo near Boychuk Drive and Taylor Street, condo buyers who want low-maintenance ownership, and investors interested in the rental share already present in the multi-unit stock. It is a poor fit for buyers who specifically want a single-family home, a yard, a quiet residential street, or a school within walking distance, since none of those exist within the designation itself; those buyers should look at the surrounding neighbourhoods instead.

Schools And Childcare

The City of Saskatoon’s neighbourhood profile states directly that there are no open schools located in Lakewood Urban Centre, listing “No Open Schools Located in Neighbourhood” in its enrolment section.

Buyers and renters often assume the area is served by St. Thérèse of Lisieux Catholic School, a Greater Saskatoon Catholic school located nearby in Rosewood, since that school’s own communications historically described its catchment as Rosewood and Lakewood Urban Central. That has changed. Greater Saskatoon Catholic Schools’ own kindergarten registration page states that, effective September 2025, new students residing in Lakewood Urban Central and Meadows Parkway no longer fall within St. Thérèse of Lisieux’s registration boundary and are instead bused to École St. Luke School, located at 275 Emmeline Road. This guide flags that change explicitly so buyers do not rely on the older pairing.

No Saskatoon Public Schools elementary or secondary facility was confirmed as serving Lakewood Urban Centre as part of this research. Families should confirm current attendance boundaries, busing, and childcare options directly with Saskatoon Public Schools or Greater Saskatoon Catholic Schools before buying, since school assignment depends on the specific address and can change from year to year.

Parks And Outdoor Space

Lakewood Urban Centre has 54.0 hectares, or 133.5 acres, of total park space according to the City profile, a large figure relative to the neighbourhood’s small 97.5-hectare area. The profile attributes this to two parks: Hyde, a neighbourhood-type park at 49.7 hectares, and Trounce, a neighbourhood-type park at 4.3 hectares.

One discrepancy is worth flagging directly. The same City Neighbourhood Profiles document lists a separate, much smaller park named “Hyde” in the Rosewood profile, at only 0.8 hectares. A separate web search indicates that a 123-acre (about 49.8-hectare) naturalized wetland called Hyde Park, developed with Ducks Unlimited Canada and the Saskatoon Wildlife Federation as a stormwater management feature, is associated with the Rosewood area in some City communications, even though the Lakewood Urban Centre neighbourhood profile counts the larger 49.7-hectare Hyde park toward its own park space total. This guide cannot resolve which neighbourhood the large Hyde Park is administratively assigned to from the sources reviewed, and flags it as a naming overlap rather than guessing. Buyers who care about this distinction should confirm directly with the City of Saskatoon’s parks department.

Trounce Pond is also shown on the City profile’s neighbourhood map within Lakewood Urban Centre’s boundaries.

Housing Types And Price Reality

Lakewood Urban Centre’s housing stock is entirely multi-unit. The City’s 2024 dwelling count shows 1,540 multi-unit dwellings out of 1,540 total dwellings, or 100 percent multi-unit housing, with zero single-family, two-unit, or semi-detached dwellings recorded.

The age of housing is concentrated in the 2000s. The City’s 2021 Census age-of-dwelling data shows the largest shares built from 2001 to 2005 (30 percent) and 2006 to 2010 (29 percent), with a further 16 percent from 2011 to 2016 and 15 percent from 2016 to 2021. Only small shares predate 2001, consistent with Wikipedia’s account that residential construction began in 2003.

The City’s 2024 real estate sales data shows two property types with recorded sales: 57 low-rise apartment condo sales at an average price of $239,679, and 9 condo townhouse sales with no average price reported in the profile. High-rise apartment condo, semi-detached, semi-detached two-titles, and single-family dwelling categories all show zero sales for 2024. Buyers and investors should treat this as historical context from the City profile, not a current pricing guarantee, and should review current comparable listings directly.

Housing affordability data in the same City profile shows a median multiple of 2.67 in 2024 for Lakewood Urban Centre, compared with 3.96 for Saskatoon overall. The City profile notes that a median multiple of 3.0 or under is rated as affordable, which places Lakewood Urban Centre below that threshold. Average owner’s major payments were reported at $1,304 and average gross rent at $1,280 in the 2021 Census data cited in the profile.

Before you start viewing homes here, it is worth knowing what buying in Saskatoon actually costs in cash, since the purchase price is only part of what you will need at closing.

Buying in Lakewood Urban Centre

Buying here means buying a condo. There is no single-family inventory to consider within the designation itself. The City’s tenure data shows 55.0 percent owned and 45 percent rented in 2021, indicating a meaningful rental presence alongside owner-occupied condo units, more balanced than some other Urban Centre designations in this guide series.

Buyers should evaluate the specific building, condo corporation, and unit type carefully, since the entire market here is condo-based and building-by-building differences in condo fees, reserve funds, and management quality matter more than they would in a single-family market.

Best Fit for Buyers Who Want:

• A condo rather than a single-family home
• A median multiple below the City’s affordability threshold
• Proximity to Boychuk Drive and Taylor Street
• Smaller-household, low-maintenance ownership
• A southeast Saskatoon location near Lakeview, Lakeridge, and Rosewood

May Not Be the Best Fit for Buyers Who Need:

• A single-family home or a yard, since none are recorded in the area
• A school within the neighbourhood itself, since the City profile records none
• A traditional residential neighbourhood feel
• A larger household size than the area’s 2.1 average
• Confirmed transit service directly inside the boundary

Selling in Lakewood Urban Centre

Selling here means selling a condo, and the relevant comparison set is other condo buildings in Lakewood Urban Centre or nearby areas like Rosewood and Lakeview, not detached homes. The City’s 2024 sales data shows low-rise apartment condos and condo townhouses as the only property types with recorded activity, at 57 and 9 sales respectively.

Sellers should focus marketing on condo-specific details: condo fees, reserve fund health, building age, parking, and proximity to Boychuk Drive and Taylor Street. Because no school is located inside the neighbourhood, sellers should not claim school proximity as a selling point without confirming a specific address’s actual attendance boundary first. Buyers comparing condo options will look closely at condo documents and building management, so accurate disclosure of fees and building condition matters more here than staging or curb appeal alone.

Investor Notes for Lakewood Urban Centre

Lakewood Urban Centre is worth investor attention because its entire housing stock, 100 percent multi-unit, is the kind of property type investors typically target. The 45 percent rental share recorded in 2021 shows meaningful rental demand is already part of the area’s housing pattern, and the median multiple of 2.67 in 2024 is well below both the City’s 3.0 affordability threshold and the Saskatoon-wide figure of 3.96.

The City’s 2024 sales data recorded 57 low-rise apartment condo sales at an average price of $239,679 and 9 condo townhouse sales with no average price reported, with no sales recorded in any other property category that year. Investors should verify condo documents, reserve fund adequacy, building management, parking, and current rental rates directly before buying, since the City profile’s $1,280 average gross rent figure is 2021 Census data and should be treated as historical context rather than a current market rate.

Commute And Daily Convenience

Lakewood Urban Centre has road access via Boychuk Drive and Taylor Street, connecting to the broader southeast Saskatoon road network. The City’s 2021 mode-of-travel data shows 965 residents driving, 65 as passengers, 40 using public transit, 10 walking, and 40 using another method, with no recorded cyclists.

No Saskatoon Transit route specific to Lakewood Urban Centre was confirmed from the official routes and schedules page as part of this research. Route 86, Rosewood / Centre Mall, runs along Boychuk Drive in the adjacent Rosewood neighbourhood, but this guide could not confirm direct stop coverage inside Lakewood Urban Centre’s boundaries from the route information available. Riders should check the current Saskatoon Transit routes and schedules page or the Transit mobile app for specific stop locations and schedules by address, since route coverage and timing can change.

Winter driving, snow clearing, and parking should be confirmed at the building level for any condo purchase, since parking arrangements vary by property and are not captured in the City’s neighbourhood-level data.

Safety And Neighbourhood Perception

No independently verified, current crime statistics for Lakewood Urban Centre are cited here, none were available from an official source as part of this draft. What can be said directly from City and Wikipedia sources is that the area combines a 100 percent multi-unit residential stock with a small commercial frontage along Boychuk Drive and Taylor Street and Fire Hall No. 8, a mixed-use pattern that can feel different from a quiet residential neighbourhood depending on time of day and proximity to the commercial frontage. Buyers who weigh safety perception heavily should walk the specific block or building they are considering at different times of day rather than judging the area as a whole, and can request current crime statistics from the Saskatoon Police Service directly.

Pros and Cons of Living in Lakewood Urban Centre

Pros	Cons
Entire housing stock is multi-unit, with 57 low-rise apartment condo sales in 2024 at an average price of $239,679	No single-family, two-unit, or semi-detached housing exists in the area
Median multiple of 2.67, well under the City’s affordability threshold	No schools located inside the neighbourhood, per the City profile
54.0 hectares of attributed park space, including Hyde and Trounce	St. Thérèse of Lisieux Catholic School in Rosewood no longer serves new Lakewood Urban Central students as of September 2025
Homeownership rate of 55.0 percent, more balanced than some nearby Urban Centre designations	Small average household size of 2.1 suggests limited fit for larger families
Road access via Boychuk Drive and Taylor Street	No Lakewood-specific Saskatoon Transit route was confirmed for this guide
Reasonable rental share at 45 percent for investors	Functions more as a small commercial and civic hub than a residential community

Compared To Nearby Areas

• Lakeview borders the broader Lakewood Sector area and offers a more established, single-family-leaning residential market for buyers who want a house rather than a condo.
• Lakeridge sits nearby and offers a more typical suburban housing mix for buyers comparing southeast Saskatoon options with schools already in place.
• Rosewood, adjoining Lakewood Urban Centre to the south and east, offers a newer single-family and two-unit housing mix along with two schools, including St. Thérèse of Lisieux Catholic School, which no longer extends to new Lakewood Urban Central students as of the 2025-26 school year.

Best Fit By Buyer Type

Lakewood Urban Centre is worth considering if you want a condo near Boychuk Drive and Taylor Street, with a median multiple well below the Saskatoon average and a more balanced rental and ownership split than some other small Urban Centre designations. It is not the right fit if you want a single-family home or a school inside the neighbourhood, since the City’s profile records neither.

For most buyers, the decision is straightforward: if you want a house or a neighbourhood school, look at the surrounding areas, such as Lakeview, Lakeridge, or Rosewood, while confirming current school boundaries directly with the school divisions. If you specifically want an affordable condo in southeast Saskatoon, Lakewood Urban Centre is worth evaluating building by building.