Riel Industrial Sector Plan Amendment
In 2015, City Council approved the Riel Industrial Sector Plan (Sector Plan) that provides a broad framework for future urban development in the area. This includes, among other things, direction on land uses, parks and significant natural areas, servicing and transportation planning, and development phasing.
Since 2015, several City policies, bylaws, and plans have changed or been approved. To ensure development in the sector aligns with the City’s vision for growth and development, an amendment to the Sector Plan is needed. City Administration introduced the Riel Industrial Sector Plan Amendment project through an Information Report to the City’s Standing Policy Committee on Planning, Development and Community Services (PDCS) on August 9, 2023. City Administration intends to bring forward the Sector Plan amendment for City Council’s consideration of approval in late 2026 or early 2027.
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Phases
Market Study
Market Study
To support the Sector Plan amendment, the City’s Mapping & Research team completed the Industrial Land Data Exploration, Analysis, and Demand Estimates report (Market Study) in February 2024. The Market Study offers an in-depth analysis of the current state and future projections concerning the industrial market in Saskatoon, including market study, vacancy rates, absorption trends, new supply additions, rental rate fluctuations, and employment.
Read the City’s full Market Study report for detailed information.
Key Findings
Summary of key findings from the City's Market Study:
- Saskatoon’s vacancy rate at the time of the report (1.6%) was below what’s considered a balanced market (3-5%). This means that demand for industrial land is outpacing supply.
- 392,000 square feet of Saskatoon industrial floorspace is absorbed on average (5-year), meaning that without additional industrial floorspace being added in the short term, the remaining supply could be absorbed in 2024.
- The leading industrial businesses in Saskatoon are Wholesale Trade, Retail Trade, and Construction. Manufacturing, Construction, and Wholesale Trade account for nearly half of the 39,119 industrial jobs in Saskatoon.
- A triangulation approach looking at population growth, employment growth, and historic absorption rates for industrial floorspace was used to project Saskatoon’s cumulative industrial floorspace demand from 2024 to 2054 when Saskatoon is expected to reach a population of 500,000. Cumulative demand could hit 4 million square feet by 2034, 7-million square feet in 2041, 10-million square feet in 2048, and 13-million square feet in 2054.
- An estimated 914 hectares of new industrial land is required to reach 2054’s projected 13-million square feet of floorspace demand. There is an estimated 1,270 hectares worth of industrial development potential in the Sector Plan amendment study area, which would meet and exceed the 2054 demand.