Saskatoon’s Medical Arts Building hits market after 60 years

For the first time in 60 years, Saskatoon’s Medical Arts Building is for sale.

The six-story medical building on Spadina Crescent East, facing the South Saskatchewan River, was built in the 1960s.

It currently houses a pharmacy, a plastic surgeon’s office, and an eye institute, along with other health-care services like ultrasounds and X-rays, as well as a café.

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As ownership changes hands, Colliers vice president Keith Webb said the services are all leasing the space. They’ll likely remain once it’s sold, although that will be entirely up to the buyer.

“(It’s) time for someone else’s vision as to where it can go from here,” Webb said.

The building has no reserve price, he said, and is being sold by tender.

According to Keith Webb, the current owners felt it was the right time to see whether there’s interest in buying the building. (Colliers/courtesy)

Changing area

Webb said the decision to sell was made in part because of changes in the neighbourhood.

Specifically, nearby redevelopment encouraged the current owners to see if there’s interest in their building, Webb said.

For instance, he said the Saskatoon Symphony Orchestra recently bought property across the street.

Then there are the former Star Phoenix offices on Fifth Avenue North, which could become hundreds of homes.

A proposed development at 204 Fifth Avenue North includes two towers, one 24 storeys and the other 35 storeys high, with 600 residential units.

If it goes through, the taller tower will become Saskatoon’s highest building, reaching around 110 metres and eclipsing the Nutrien Tower.

A rezoning process for the project is underway, and in May a public information meeting was held at City Hall, allowing people to see the proposal and ask questions.

The city is still reviewing the decision on the property’s redevelopment.