Supply of Residential and Industrial Land
“A one-year inventory of land for single family units, a two-year inventory of land for multi-family units and a two-year inventory of industrial land” are targets to support building demand. The target includes inventory held by the City and by private sector builders and developers.
How are we doing?
The supply of serviced land for single and multi-unit residential housing has met or exceeded targets over the last five years. As of December 2018, there was enough land available for 3,668 residential units.
The supply of serviced land for industrial development has met or exceeded targets over the last five years. As of December 2018, there was an inventory of over 238 acres for industrial development.
The targets measure success in maintaining an adequate supply of serviced land to meet building demand.
The target for single family lots is equivalent to a one-year supply held by Saskatoon Land and private-sector home builders and developers. In setting yearly servicing goals for single family lots, the City aims to have enough land completely serviced by year-end to satisfy the City’s share of market demand in the next year.
The target for serviced land for multi-family units accommodates a two-year demand. A multifamily project typically requires a longer time to design and construct. The target for industrial serviced land supports two years of demand for industrial building.
The inventory target provides a healthy supply of land to accommodate business and employment growth. The annual target for serviced residential land is based on past building permits, projected population growth and projected demand for single family lots and multi-units in the upcoming year. The annual target for industrial land is based on the average of the previous five years of industrial land sales by Saskatoon Land.