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Commercial real estate surging in Saskatoon
RJC in position for the “Saskaboom”
Commercial real estate (CRE) is surging in Saskatoon. And with an uptick in developments across the province comes demands for CRE industry partners like RJC Engineers who can contribute to more efficient, sustainable, and cutting-edge builds.No doubt there's a reason real estate analysts call it the "Saskaboom." RBC economists predict the city will lead Canada in economic growth in 2022 at six per cent, driven in no small part by industrial developments. Meanwhile, a RE/MAX Canada report indicates a dramatic increase in several asset classes has driven robust activity in Saskatoon's commercial real estate since the onset of the year. Combined with growing demand for office space and a trend toward repurposing vacant or underutilized assets, the forecast looks promising for CRE stakeholders.
It helps that the city is making it more attractive to build. Over the last decade, Saskatoon has rolled out several building redevelopment incentives for developers. Among them is the city's Vacant Lot & Adaptive Reuse Incentive Program, which offers a tax reduction tied to the change in building values once their work is complete.
Overall, Brent Hass, a broker with Re/Max Bridge City Realty in Saskatoon tells Western Investor that the conditions are aligning favourably for the CRE community, adding, "When you're looking at the return on investment in Saskatchewan, the risk isn't as great as it was two years ago."
Expanding RJC’s footprint
Saskatchewan’s CRE boom has drawn industry players from across Canada. It is also among the reasons RJC Engineers recently relocated its Saskatoon office to make way for future growth.
The relocation took place in early 2022. It saw RJC Engineers’ Saskatoon team take residence in Two Twenty, a collaborative co-working community with dedicated spaces and shared amenities. Located at 220 – 20th Street West, Suite 112, the new office satisfies the firm’s short and long-term space needs as it continues to serve increasingly busy clients across the province.
“Our services are in demand throughout Saskatchewan, and this move allows us to grow our team there,” said Frank Cavaliere, RJC Managing Principal. "Moving RJC into this new creative space encourages a dynamic and creative collaboration environment."
Now that RJC Engineers has had time to settle into its new provincial headquarters, the team is primed and eager to lend its structural engineering, structural restoration, and building envelope expertise to projects in the ‘Paris of the prairies’ and across Saskatchewan.
For more, visit RJC Engineers Saskatoon.