The Yellow Quill First Nation is expanding its economic footprint in downtown Saskatoon.
The Yellow Quill band announced this morning it has plans to build a $37 million commercial office building in the city’s downtown core on land that has been converted to reserve status.
Chief Larry Cachene says the start date for the 75,000 square foot building is still yet to be determined as they line up potential tenants.
“We have about 44,000 square foot pre-leased to date, I believe, so we want to reach another 25, 30,” he says.
Saskatoon Chamber of Commerce Executive Director Kent Smith-Windsor says the Yellow Quill project is just another example of an economic success story of a Saskatchewan First Nation.
“You think about the work Muskeg has done and now this great new project, along with things like the Dakota Dunes project in Whitecap, many great leaders within the Aboriginal community that have found a way to create hope and opportunity for their people,” he says.
The building will be located on the corner of 4th Avenue South and 20th Street East.
The Yellow Quill band wants to pre-lease 70 per cent of the building before they start construction.
About 25 per cent is rented so far which includes the First Nations Bank of Canada as one of the new tenants.
Yellow Quill also owns the building next to the proposed construction site on 4th Avenue South which is the current home of the First Nations Bank.
Colliers International will manage the building.