The economic development arm of the Lac La Ronge Indian Band has purchased a vacant building in Saskatoon.
Kitsaki Management Limited Partnership announced on Wednesday they have purchased the former HSBC building in downtown Saskatoon.
The economic development firm says the purchase will solidify its presence in the city adding to the urban reserve land owned by the band in the Marquis Industrial area.
“Its proximity to several of Kitsaki’s group of companies offers exciting possibilities for investing in our infrastructure that supports the significant growth we’ve experienced over the last three years, including adding 1,000 people to our workforce, mainly in Saskatchewan,” said Ron Hyggen, CEO of Kitsaki Management.
Kitsaki purchased the building for $6.5 million and say it will be the new home of Kitsaki Management once the Additions to Reserve process is complete with Indigenous Services Canada.
“It is important to create a space for LLRIB band members to work in Saskatoon and provide our community with opportunities for economic development, while also creating numerous employment opportunities through Kitsaki’s Group of Companies,” said Chief of the Lac La Ronge Indian Band, Tammy Cook-Searson.
“The purchase of an additional building in Saskatoon is an important milestone for Kitsaki and for the economic future of LLRIB,” Cook-Searson added.
The organization also says the property will be marketed for commercial real estate leasing opportunities once the redesign of the property is complete.
(TOP PHOTO: Members of the Kitsaki Management Limited Partnership pose with a newly acquired building in Saskatoon. Photo provided)