The shuttered Saskatchewan Transportation Company depot in Saskatoon is about to undergo some major changes.
Meridian Developments revealed Monday it has purchased the downtown building from the provincial government as part of the STC sell off.
The government announced last week it netted an estimated $29 million from the sale of the former provincial bus company’s assets, which included depots in Saskatoon, Regina, Prince Albert and Moose Jaw.
While Meridian didn’t reveal how much it paid for the property, the company stated the redeveloped building will add value to the city and downtown when finished.
“This will be the shiny nickel in the neighbourhood when all the smoke clears,” Meridian owner Ken Achs said.
Achs noted plans are still being finalized and they have started the search for a tenant to occupy the 20,000 square foot space.
The former bus depot sits on a one-acre plot along 23rd Street and Auch said within 18 months the building will look nothing like its former self.
“The actual bones are really good. Everything else from electrical to mechanical will all disappear. It will all be brand new,” Achs said.
Meridian redeveloped the historic King George hotel just down the street and is behind other big projects like the LUXE condos on Broadway Avenue.
— With files from David Kirton.