The Downtown is a vital part of Saskatoon. It is the administrative, commercial, cultural, and entertainment heart of the city and region. To ensure this status, it is important that Downtown be a vibrant neighbourhood as well. To this end, the City of Saskatoon has established a long-range goal of increasing the population of Downtown to 10,000 people.
In order to achieve this goal, the City administers the Downtown Housing Incentive Program which offers the following incentives for housing development in the Downtown:
1. Renovation Program
The Renovation Tax Abatement Program is designed to reduce taxes for those renovating existing housing projects.
If approved, applicants under this program will receive assistance in the form of a tax abatement of 25% of the annual property taxes up to a maximum of $10,000 per year, for five years. Special consideration will be given to projects that significantly increase the quality and amenity of existing housing, or focus on increasing accessibility for those with special needs.
This program is intended to encourage the preservation and revitalization of housing in the Downtown and improve the quality and accessibility of existing dwellings.
2. Residential Conversion Program
Saskatoon’s Downtown contains many buildings with historic and aesthetic significance. In most cases, these buildings have outlived their original use. The Downtown Residential Conversion Program is intended to encourage mixed uses by converting space to multiple-unit residential dwellings.
Similar to newly constructed market housing, a tax abatement of the increase in property taxes is available to the owners of newly-converted housing units. This means that property taxes are fixed at the pre-development level for the duration of the abatement. In addition, developers may receive a rebate of existing property taxes during construction, up to a maximum of two years. Other charges may be rebated as a result of the conversion and subdivision of the project.
This program ensures that future generations will be able to experience the history and beauty of Downtown Saskatoon by helping breathe new life into the city’s celebrated landmarks.
Program Zone
The Downtown Housing Incentive Program is available in areas of the city north of the river up to Queen Street and west to Idylwyld Drive, including River Landing.
