The Yellow Quill First Nation has announced plans to build a five-storey, 75,000-square-foot office building on a downtown property in Saskatoon.
The site, owned by Yellow Quill, is currently used as a parking lot. It is located at Fourth Avenue and 20th Street East, next door to the First Nations Bank building, also owned by Yellow Quill.
Construction is planned for the spring of 2013 and will include underground parking. The architect for the project, Kindracuk Argey Architects, plans to include large floor plates in the building.
First Nations Bank plans to occupy one-quarter of the space in the new building, with the rest of the space expected to be leased by business and resource-based companies.
The Class A office space vacancy in Saskatoon's downtown core is 1.84 per cent, according to commercial real estate services company Colliers International.
"New Class A projects have fully leased shortly after completion in the central business district," noted Colliers leasing agent Lothar Josephs.
from Western Investor December 2012
