Quote:
Originally Posted by Jerry
Credit union may call campus home
Former FNUC centre to be developed at expense of Affinity's downtown location
By David Hutton, The StarPhoenix November 5, 2010 2:05 AM
The former First Nations University of Canada (FNUC) campus may soon be Affinity Credit Union's headquarters.
Sale of the FNUC property in City Park is pending to Saskatoon-based Meridian Development Corp., with plans making their way through the zoning change approval process at city hall to allow for the conversion of the former school site into offices.[...]
Read more: http://www.thestarphoenix.com/travel/Credit+union+call+campus+home/3780773/story.html#ixzz14PGJxBP5
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Hmmm. I'm not sure how I feel about this.
On the pro side, a heritage building is being preserved by a respected and competent developer. Great!
On the other hand, I assume this move will empty Affinity's buildings at 22nd and 3rd, as well as their 7 storey office on 4th Avenue. That is an appreciable exodus of employees from the core, and a potential glut of office space to come onto the market. That could mean another setback for a project like 2seven5 getting started. (That being said, this could present an opportunity for redevelopment of their 22nd and 3rd property, a building design that I feel is too "suburban" for a downtown.)
What does this move signal, if anything, about demand for downtown office space and underlying problems that may be holding the downtown market back? The City's Neighbourhood Planning section says demand is being eroded in the downtown, most principally by parking issues it seems.
Of course, this is by no means a death knell for downtown, but it's not a great sign when the head office of a local bank decamps for a residential neighbourhood. Meanwhile, Cameco is sitting pretty on 11th Street, and it's taking the provincial government and an attempted BHP takeover to coax the PotashCorp execs back to downtown Saskatoon.
The City Park community association is right, this city needs a strategy regarding head office location in our core. But in the end, Affinity is a free market enterprise and can locate whereever it pleases! (pending the zoning changes of course)