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After the city of Saskatoon temporarily put the brakes on the Downtown Event and Entertainment District (DEED) six months ago, it appears as though it’s “game on” once again.
In 2024, the city proposed a partnership with Denver-based Oakview Group 360 (OVG360), after it successfully bid for the $1.22 billion project.
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At the time, the city said the deal could eventually bring in $170 million over 25 years for the project, including $20 million in an up-front capital contribution from OVG360.
A design rendering for Saskatoon’s proposed Downtown Event and Entertainment District. (City of Saskatoon/submitted)
OVG would collect $25,000 a year in management fees, along with another $25,000 for off-site sales functions. The group would also become the exclusive food and drink provider at the downtown venues, and would also collect a small percentage of food and drink sales and profits.
But it was all put on hold in early April to see how U.S. tariffs and the federal election may affect the deal.
Now, Dan Willems, director of technical services for the city, said it is ready to move forward.
“We are pleased to bring forward a proposed agreement framework for the operation of the future facility, which was developed with OVG through a competitive bidding process,” Willems said in a statement.
“We are looking forward to getting Council’s feedback and direction on this important step.”
A render showing Saskatoon’s proposed Downtown Event and Entertainment District. (City of Saskatoon)
A report for the Oct. 29 regular business meeting of City Council sets out the proposed agreement framework for the partnership with OVG.
Willems added that the report is another step towards achieving a funding plan, but does not approve of any construction starting.
“The procurement process started in January 2024 when City Council approved a procurement approach for a private partner for operations management of one or both of the anchor facilities for the Downtown Event and Entertainment District,” the city said in a statement.
“An RFP was issued to pre-qualified proponents in February 2024 and closed on April 25, 2024. After the evaluation of proposals, the submission from OVG was deemed the highest scoring and negotiations commenced.”
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