Colliers International says, over the past six years, the retail sector in Saskatoon has grown by nearly 12.8 per cent, thanks to new inventory introduced throughout the city. The prominence of these retail nodes within emerging neighbourhoods such as Brighton, Kensington, and The Meadows, has fueled development since 2014. Richard Jankowski, Managing Director of Brokerage for Colliers says, “We expect to see a continued maturation of development on existing sites as our city’s growth returns to historic levels.”

Retailers are showing a preference for new inventory within emerging neighbourhoods and this has had an effect on existing corridors which are seeing an increase in available space and a softening of lease rates as they compete with the new inventory.

Colliers says Saskatoon is expected to continue to grow at an annual rate of 2 per cent. The Census Metropolitan Area population is estimated at 328,245. GDP growth is expected to be 1.68 per cent which would outpace expected provincial growth of 1.1 per cent. Our city is one of the youngest the country with a median age of 35.8 years. Colliers says that is 5.4 years younger than the national average.