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A proposal that would reshape how Regina’s REAL District is operated — while potentially saving taxpayers millions of dollars — will be going before city council.
The city and Brandt Properties Ltd. have reached a non-binding agreement that would see Brandt, the owner of the Regina Pats and Regina Red Sox, purchase a portion of the REAL District.
Read more:
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- Brandt CEO shares vision for new distillery, entertainment complex at REAL District
If council approves, the two sides would then negotiate a final sale agreement.
“The opportunity in front of us is about playgrounds. It’s about tax relief. It’s about Arcola Avenue, libraries, North Central revitalization, water infrastructure and community grants,” Daren Anderson, the city’s outgoing chief financial officer, said Friday at a media briefing.
“It’s about what we decide is best for taxpayer dollars.”
Anderson said the deal would save Regina taxpayers $79 million over the next five years.
Under the terms agreed to, Brandt would pay the city $6.4 million to obtain the Brandt Centre, Queensbury Centre, Canada Centre building, Ag-Ex building, Stockman’s Building, Commercial Cattle Barn, the land McDonald’s sits on and the parking lot in the south end of the grounds.
City of Regina chief financial officer Daren Anderson (left) and Chad Jedlic, director of land, real estate, and economic development, speak to reporters at a briefing on April 24, 2026. (Geoff Smith/980 CJME)
The city would continue to own Mosaic Stadium, the Cooperators Centre, AffinityPlex and Bunge International Trade Centre.
Savings to taxpayers being touted
Anderson said the total value to taxpayers is $85 million.
“The assets being sold have an average age of over 45 years and have deteriorated and require extensive, costly repairs,” Anderson said. “It would take a very large investment to bring them up to standard, and some of the buildings are functionally obsolete as their design no longer meets current market demands.”
He also explained the sale would eliminate the subsidy required to operate those buildings, which amounts to $6 million each year.
Altogether, Anderson said during the next five years the city would save $300,000 per week, equivalent to a property tax reduction of eight per cent.
“As administration, we believe that that $300,000 a week can create tremendous community good,” he said.
The agreement will require Brandt to invest at least $15 million within 24 months. Anderson said it would help the city put its “best foot forward” when hosting the 2027 Grey Cup.
Documents being filed ahead of Wednesday’s Executive Committee meeting break down the purchase price of each asset. Of note, the price for the Brandt Centre is -$10.3 million, while the Agribition Building is -$500,000.
“This means the amount of repairs required on the buildings is greater than the appraised value,” Anderson explained. “The Brandt Center was built in the late 70s and is coming to the point where major work is required to keep the facility operating.
“This is a large risk to the taxpayers.”
Brandt already has a 99-year lease on the Agribition Building, where it is developing Queen City Distillery as an entertainment complex.
Brandt made first approach to buy some buildings
According to city documents, Brandt first approached the board of Regina Exhibition Association Ltd. (REAL) about buying some assets.
Negotiations led to the current agreement involving a different collection of buildings, though Anderson declined to be more specific about what was in the original offer.
The city had the assets appraised and said Brandt’s offer is at the high end of the scale. It says this is an “exceptional” opportunity which allows for direct negotiations on real estate without offering it to the public.
As part of the agreement, Brandt commits to ensuring ongoing recreational, cultural, sporting, entertainment, convention, agribusiness, and other special events continue to take place at the district.
Canadian Western Agribition is specifically included in the agreement. Also, Brandt will take over operation of the Queen City Ex “as long as it is commercially viable and there is demand for the event in the community.”
It did not specify Canada’s Farm Show. Anderson said he expected it to continue if it’s commercially viable, but that decision would be up to Brandt.
While the city will continue to own the International Trade Centre, Brandt will lease the space. It also commits to a lease agreement to allow soccer to continue on the main floor of the Queensbury Centre.
Future of REAL unclear
Anderson emphasized that this agreement does not necessarily result in the dissolution of Regina Exibition Association Ltd. However, all 700 unionized employees of REAL would become Brandt employees and their existing collective agreements would continue.
The area within the yellow line contains the property that would be sold to Brandt if the deal proceeds. (City of Regina/Geoff Smith/980 CJME)
Fifty out-of-scope employees are also impacted. Some would be offered employment while others would receive severance.
“We might have use for REAL, the organization, in the future again,” Anderson said. “So we don’t want to say, yeah, REAL is is done now. That’s not part of this deal. We will address the organization of REAL at some point in the future.”
Anderson said REAL’s financial issues were not a driving force in making the deal.
“It was more, this is a forever deal, and so we wanted to look at it holistically to say, is this a business taxpayer dollars should be invested in?” he explained. “Ultimately, it’s administration’s opinion that if the private sector wants to step up and take on this risk, we believe it’s better suited by the private sector, and we’ll leave taxpayer dollars to invest in core assets like parks, playgrounds, roads, infrastructure, all that stuff.”
Not part of this sale agreement is the prospect of a new arena to replace the Brandt Centre. Anderson said nothing is in the works at the moment on that front.
He did said there is a clause that would require the city to buy back the Brandt Centre if it built a new arena without Brandt’s involvement.
Timeline for the road ahead to a final deal
The public will have a chance to speak to the proposal at two upcoming meetings: the city’s Executive Committee on April 29, and city council on May 6.
Negotiations took place between the city, Brandt and REAL under a non-disclosure agreement. Once the term sheet was finalized, Canadian Western Agribition, the Saskatchewan Roughriders, the provincial government and the Regina Hotels Association were advised.
If council approves the plan at the May 6 meeting, a master purchase agreement will be negotiated between the City, REAL and Brandt Properties. Anderson said there’s no set timeline to complete the agreements.
A five-year property tax exemption is part of the term sheet.
