Saskatoon city council approved Duchuck Holdings Ltd.’s purchase of the old Saskatoon police headquarters with a unanimous vote Monday.
The 40-year-old building on 4th Avenue North garnered a purchase price of $10.7 million.
READ MORE: Saskatoon police headquarters opens gender-neutral washroom
Duchuck Holdings has plans to turn the old station into a “best-in-class” office space.
Council also approved a five-year tax abatement of the full taxes on the building site. The incentive is subject to the completion of a renovation or redevelopment of the property allowing for a new use.
City administration considered the deal to be fair and reasonable in light of the current market in Saskatoon, according to a report to council.
The parking lot next to the building is included in the sale. An office tower with underground parking is planned for the space.