SASKATOON – An offer for the old police headquarters has been rejected by the City of Saskatoon. The station on 4th Avenue has been vacant for almost a year.
Meridian Development offered $11 million for the property with plans of retrofitting it into a mix of commercial and retail space.
One of the tenants would have been the Lung Health Institute of Canada.
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Mid-West Development would have financed Meridian’s offer, but Ken Achs said the market has changed.
“The really good times over the past couple of years generate no offers, and times have slowed down slightly and to expect there to be offers at this time would be somewhat unrealistic, I think,” said Achs.
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READ MORE: Doors locked to old Saskatoon Police Service headquarters
Initially, the city had a reserve bid of $15.6 million for the building but it was removed after no offers were made.
Wendy Winiewski contributed to this report
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