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U-Haul’s plan for old Sears outlet approved, Centennial Market’s future uncertain

The Centennial Market may have to find a new home after Regina city council approved U-Haul’s redevelopment plan of the former Sears warehouse. File / Global News

Saskatchewan’s largest indoor market may be looking for a new home, as Regina city council approved U-Haul’s redevelopment plan of the former Sears warehouse.

According to U-Haul, it plans to purchase and repurpose the building, turning it into a full-service U-Haul and self-storage facility.

The former warehouse is currently home to the Centennial Market and has some vendors worried about its future.

“This is a building that could be at risk right now because the [current] business model is not sustainable,” said Michael Fougere, Regina mayor.

“The rent being paid by the Centennial Market is not sustaining this building, so this is a way to overcome that problem.”

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The century-old building closed its door in 2017, leaving the location largely vacant.

Having U-Haul take it over breathes new life into the building and removes any uncertainty of its future going forward.

“We don’t want to see the building demolished,” Fougere said, “so we want to make sure there is a good, adaptive reuse for that.

“U-Haul moving in is a good plan for its future.”

U-Haul is still a few years away from moving in, as the design phase needs to be completed before construction can begin.

WATCH: (Feb. 2, 2018) Retail vacancy rates jump in Regina following Sears closure

Click to play video: 'Retail vacancy rates jump in Regina following Sears closure'
Retail vacancy rates jump in Regina following Sears closure

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