Opportunities
Saskatoon IDEAS Inc
A business incubator is a proven model used in many other jurisdictions to nurture young businesses and help them grow during the start up period when they are most vulnerable. Incubators provide hands-on management assistance, access to financing and exposure to critical business and technical support services - eg; added training seminars, coaching and mentoring networks. They also offer start up businesses shared office services, access to equipment, flexible leases and expandable space - all under one roof. Their main goal is to produce and spin out successful graduates - usually in 2-3 years. There are currently more than 800 such business incubators in North America. Saskatoon IDEAS Inc is located next door to the Saskatoon Farmer's Market
Targeted Incentives for Revitalizing the Enterprise Zone
Where is the Zone?The Enterprise Zone includes the neighbourhoods of Westmount, Caswell Hill, King George, Riversdale, Pleasant Hill and Mayfair/Kelsey, and the West Industrial Area.
Who is eligible for the incentive programs?
All existing or proposed residential properties, any retail use in a B zone, retail/wholesale grocery stores, warehouses, manufacturing facilities, public recreation facilities, tourism and cultural facilities, and transportation facilities are eligible for some or all of the incentives and programs available.
What are the available programs and incentives?
- Building and Plumbing Permit Fee Rebate – any eligible use, including residential uses, will receive a rebate of the building and/or plumbing permit fee for renovation or new construction within the Enterprise Zone.
- Property Tax Abatement – any eligible use, with the exception of one or two-unit dwellings, can apply for a property tax abatement not to exceed five years. The abatement will apply to any increase in taxes as a result of development or significant improvements.
- Off-site Development Charges – any eligible use, with the exception of one or two-unit dwellings, can apply for a rebate of any or all off-site development charges as calculated by the Infrastructure Services Department. Each application will be dealt with on a case-by-case basis.
- Relocation Assistance/Land Swap Exchange – Some property sites may be eligible for relocation assistance and/or a land swap. Contact the Saskatoon Regional Economic Development Authority (SREDA) for more information.
- Rebate Environmental Screening Charges – Environmental Screening Charges may be rebated up to 100% of costs upon 100% completion of any eligible use including one and two-unit dwellings
The City of Saskatoon directly administers the building/plumbing permit rebate program and all residential applications including one, two, and multi unit dwellings. SREDA is responsible for the administration of all other incentives. SREDA and the City will receive applications, facilitate the process, develop recommendations, and forward a report to the Enterprise Zone Adjudication Committee for their consideration and approval. SREDA and the City will also monitor businesses that receive incentives to ensure compliance with conditions under which the incentives have been provided.
What is the Enterprise Zone Adjudication Committee?
The Committee consists of officials from the City, SREDA, QUINT Development Corporation, the Riversdale Business Improvement District, and two City Councillors representing the neighbourhoods in the Zone. The Committee will consider the perceived value of the application (e.g., job creation, economic spin-off) and the amount and type of incentive to be received if approved.
Unparalleled recreational opportunities.
Historically, Riversdale’s favorite recreational opportunities have included bustling cabarets, vaudeville theatre and a local swimming hole. The Roxy Theatre, originally decorated in a Spanish-Villa style, featured numerous famous films and performances. The Roxy remains the last intact and largely unchanged theatrical building on its original site. The local swimming hole is now the site of Saskatoon’s largest outdoor pool.
Today, Riversdale Village is a popular recreation site for families and fitness buffs across the city. Favorite playtime activities include Holiday Park Golf Course, Kinsmen Arena and Gordie Howe Bowl. Riversdale’s Victoria Park, located on the beautiful South Saskatchewan River, is home to various athletic clubs and the city’s first skateboard facility. The picturesque Park also hosts Saskatoon’s outdoor multicultural summer celebrations.
Business opportunities from trendy to traditional.
The original commercial district featured 20th as it’s main street and a flourmill, hotels, general stores and business blocks were the first significant buildings. Most businesses established in Riversdale Village by 1908, were family owned and operated with living quarters adjacent to or above the premises. A number of early family owned businesses are still operating today.
Today, 20th and 22nd streets remain the hub of business activity in the Village. The River Landing Plan will not only attract additional residents, visitors and businesses to the area, it will also reconnect Riversdale to downtown Saskatoon, strengthening opportunities for retail, professional and commercial investment. The Village is already experiencing a boom and the Riversdale Business Improvement District will continue to foster this growth. With each new business established, Riversdale Village continues its renaissance as a thriving, dynamic and unique multicultural community.
Industry tracks the railroad…full steam ahead.
The railway yards built at the turn of the century sparked industrial development in Riversdale Village to provide easy access to transportation of goods. The residential neighbourhood afforded live/work opportunities for employees and also promoted business growth. These early industrial companies were integral to building of Riversdale Village.
By the time the railway tracks, yards and station were removed in 1963, the industrial community was well entrenched in the Village. Affordable real estate, the ability to operate near related companies and live/work opportunities for employees continue to make it a logical location for industrial organizations. Riversdale Village features a complete range of business zoning including both light and heavy industrial.
Turn of the century charm.
As one of Saskatoon’s founding communities, Riversdale’s residential neighbourhood dates back to the late 1800s. Historically, the Village’s residential development was designed for employees to live within walking distance of their workplace. The community continued growing as new immigrants arrived choosing to reside near friends and relatives in the Village.
Today, Riversdale Village is considered a traditional neighbourhood featuring original character housing throughout the community and along its riverbank. Affordable, historic housing, live/work opportunities and a river location have sparked new interest in coming home to the Village.
Some things haven’t changed.
Across North America, residents, shoppers, tourists, businesses and investors are rediscovering the potential of traditional neighbourhoods. From Vancouver’s Granville Island to New York’s Greenwich Village is a renaissance has begun, sparking new vigour, wealth and opportunity. Riversdale Village, Saskatoon’s original commercial district, is poised to be the next big success story in this renaissance. Established in 1905 by immigrant families, artisans and entrepreneurs from across Europe and Asia, Riversdale’s history is one of innovation, industry and vibrant local culture.
The community retains a special place in the hearts of Saskatonians. Landmarks like the Roxy Theatre, the Adilman’s building and the old Texaco station stand as testaments to Riversdale’s past glory, while long walks through beautiful Victoria Park can still culminate with a dip in the city’s finest public swimming hole. Riversdale Village is set to move to an exciting new level.
