Saskatoon City Council Approves $1.6m Tax Break For Broadway Apartment Tower - Beritaja

A caller multi-use residential and commercialized building on Broadway Avenue won’t person to salary spot taxes for its first 5 years of use.

The building, being erected connected the batch formerly occupied by the Whole Foods market store, is being constructed to location 124 rental units and big 6,400 quadrate feet of unit abstraction connected the main floor.

City assembly voted unanimously Wednesday to supply WestCliff Properties a five-year abatement of spot taxes, including payments into the provincial acquisition tax, which will full $1.6 million.

The taxation break was approved nether the city’s vacant batch and adaptive reuse inducement program, which intends to entice spot developers to prosecute successful infill development.

The flat building is expected to beryllium completed successful 2027, featuring 3 floors of above-ground parking, 40 one-bedroom units, 60 two-bedroom units, and 24 three-bedroom units.