Saskatoon nears completion of Baydo Towers, the province’s largest residential project, adding hundreds of new rentals amid a growing housing shortage.
Saskatoon Twin Towers Project Nears Major Milestone
Early Units Set to Open in 2025
Amid rising housing pressures, Saskatoon is preparing to welcome more than 200 new apartments early next year. Baydo Development Corporation confirmed that the first of its two 25-storey residential towers in the City Park neighbourhood is nearing completion, marking a significant step for one of Saskatchewan’s most ambitious housing builds.
Council Committee Supports Major Tax Incentive
At a city council committee meeting on Wednesday, officials endorsed a multimillion-dollar property tax abatement that would support the project’s long-delayed construction. Mayor Cynthia Block praised the progress, saying the addition of new units comes at a “critical” moment for the city’s housing market. The final approval for the incentive still rests with full council and the provincial government.
Construction Timeline Accelerates After Delays
The $100-million development began in early 2020, just as COVID-19 hit, forcing significant labour restrictions and creating supply chain disruptions that slowed progress. The first tower will deliver 235 units once completed. The second tower is expected by 2028, though Baydo indicated it may be ready as soon as 2027, bringing the total unit count to 474.
Largest Residential Build in Saskatchewan History
A city report describes the 560,000-square-foot Baydo Towers as the largest residential complex ever built in Saskatchewan. The twin high-rises—situated at 25th Street and Fifth Avenue—will become among the tallest structures in both Saskatoon and the province outside the official downtown core.
Financial Impact and Long-Term City Revenue
Baydo has asked the city to begin the five-year tax abatement on January 1, with the incentive running through the end of 2030. The total reduction is estimated at $4.1 million, including $2.7 million in municipal and library taxes. Officials noted that the province has historically approved similar requests. Once the abatement ends, the towers are expected to generate more than $1 million annually in property tax revenue.
Amenities, Pricing, and Community Benefits
According to Baydo, rental prices will range from $1,680 for a one-bedroom unit to about $1,950 for a two-bedroom layout. The project also includes 501 enclosed parking spaces, dedicated bicycle storage, and ground-floor commercial space. The development earned a perfect score under Saskatoon’s incentive program, designed to encourage construction on vacant lots—including the former city-owned parking lot where the towers now stand.
