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Work
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Bessborough
Hotel: our castle on the river!
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Saskatoon
has a compact central core office market compared to larger
Western Canadian cities with an office inventory of approximately
3.1 million square feet. This means that new construction
can have a very large impact on the vacancy and absorption
rate patterns in the city. Downtown continues to have a good
inventory of office space while maintaining a high absorption
rate.
"Saskatoon's
overall core office vacancy of 9.6% compares very favorably
with other Western Canadian Cities." Downtown continues
to enjoy a general decline in vacancy rate with some shifting
of tenants and associates reclassification.
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Investment
The
many festivals and events that bring life to the streets of
Saskatoon's Downtown also bring with them tourist traffic,
investment, and economic multipliers.
Festival
and event spending in Downtown Saskatoon is approximately
$2.4 million. This does not take into account the in-kind
sponsorship each event receives from various local organizations
and businesses. Nor does it estimate the value of volunteer
time put into staging these major festivals and events.
The
level of investment made by sponsors, festival and event
organizers shows tremendous confidence in Downtown Saskatoon
as a place for culture and entertainment.
Since
1990, over 47.6 million dollars has been invested in Downtown
by private land and building owners. This shows that even
through recession there is confidence in Saskatoon's Downtown.
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