SASKATOON – A Regina-based property company is now making a big move into offering townhome-style rental units in the Saskatoon market.
Avana already has multi-family rental properties in Regina and Edmonton, but in 2023 they started looking into an expansion into the Saskatoon market. Now that expansion is going ahead, starting with developments in Aspen Ridge and Evergreen that will offer upwards of 600 rental units when complete.
Brent Sjoberg, President and CFO of Avana, explained what they have planned.
“It will be similar products to what we’ve done elsewhere,” Sjoberg said. They will be townhome style with part of each project having an affordable component to provide a range of rental pricing for those in the market.
Avana’s Aspen Ridge and Evergreen developments are under construction right now. According to their news release, the Aspen Ridge development in northeast Saskatoon will initially have 146 suites, offering what the company says are spacious layouts, stainless-steel appliances, in-suite laundry, and pet-friendly options.
Their Evergreen development will be 108 rental suites, located in a high-density neighbourhood in the University Heights Suburban Development Area near natural green spaces and walking paths. Those suites will offer open concept living spaces, modern finishes and access to nearby schools and amenities, the company says.
Sjoberg says the first of the rentals will come onto the market in late 2025 or by 2026.
He said the properties “very similar in terms of a townhome style development. And what we have found so far with those type of buildings is there’s good, strong demand. People are interested in renting and calling those type of buildings, calling them their home. And so we’ve seen good interest in many markets like Saskatoon.”
He said in Saskatoon there is less townhome style development. “There seems to be a larger number of either apartments or like fourplex, sixplex, those kind of units, duplexes, things of that nature.”
Sjoberg said, “We look to bring a high quality product both inside and outside. So, each of the buildings and projects has some basically architectural features that fit well within the community. And each of these are generally speaking also near single-family home communities.
“And so we find it blends in really well. They’re not overwhelming for the area, the existing residents, and allows us to, as I say, deliver great quality housing and support the demand for housing in Saskatoon. Like many other markets … you can’t build housing fast enough for people.”
This is just the first phase for Avana. Sjoberg says it will be a total of about 600 once additional builds come on and are built out in both Aspen Ridge and Evergreen, and they have more projects at various stages of development for the future in Saskatoon.
For the future after this first phase is built, Sjoberg says they have two additional communities planned: Kensington, and the Aspen Ridge expansion.
He said the Aspen Ridge expansion is a continuation of developments that are happening along McOrmond Drive. It will be similar in look and feel and offering to the properties Avana will be finishing up later this year, he said.
“And the Kensington stuff is newer. Of course, we’re at the earlier stages of building those, so those will start to become available later in summer, fall of 2026.”
These will again be very similar in style with current colours and architectural features designed to fit well into the neighbourhood.
As for pricing, Sjoberg said it will be market-based pricing, and they will have a range of units available in one-bedroom, two-bedroom, and three-bedroom style.
“Our projects tend to have more three-bedrooms in them. We found that there seems to be more of a lack of those size of suites available for people. And it’s certainly more attractive for families and kind of folks that need a little bit more space.”
Overall, Avana is feeling bullish about the prospects for growth in Saskatoon and are looking forward to offering their rental units there.
“We’re happy to get into going up in Saskatoon and bring what we do well to that market,” Sjoberg said.
