City purchases last of now-defunct Saskatchewan Transit Company property

The assembly of STC land was purchased for $4.88 million

By
Western Investor
April 3, 2018





stc

 

The City of Saskatoon has purchased an assembly of industrial properties previously occupied by the Saskatchewan Transportation Company (STC). 

The City purchased a 19,415-square-foot storage facility, 49,063-square-foot maintenance building and nearly 6.4 acres of industrial zoned land, for $4.88 million.  The properties are located north of Saskatoon’s downtown district. 

In May 2017, the STC ceased operations due to a sharp decline in bus ridership to rural Saskatchewan regions. The City already leases space in STC buildings its acquired. 

The Saskatchewan Edge believes the sale could be an indication of the City’s intent to resurrect the North Downtown Master Plan, introduced to City Council in May 2014. 

The plan calls for 31 acres of residential land development, 40 acres of mixed-use and 11 acres of green space, with a total of 4,300 new housing units. 


Tanya is a recent graduate of Langara College's journalism program and spent a summer freelancing for The Burnaby NOW and The Record, following a reporting internship with the publications. She joins Western Investor as an editorial assistant. Very much a millennial, she sees the irony in writing about real estate she will likely never be able to afford.
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