$1.29 million is the dollar figure for a lot city administration is hoping to purchase, if approved at an upcoming council meeting.

A recent report from city administration to the Finance Committee included the proposal to purchase 123 Auditorium Avenue, the home to a former bridal shop across from the Midtown Plaza.

In a written statement, Frank Long Director of Saskatoon Land says in terms of market value, there have been several sales throughout the downtown area, as well as within immediate proximity to the subject property that fully support the purchase price. He says $1.29 million for the 11,650 square foot site, reflects bare land value and the property also includes a leasable 6,560 square foot retail building.

The report explains that the purchase would support the “Imagine Idlywyld” initiative, which according to the city’s website is a plan to to improve various characteristics of Idylwyld Drive, between 20th Street and 25th Street East.

The plan hasn’t been updated since 2018.

123 Auditorium Place would add to three future redevelopment lots already owned by the city along Idylwyld, which are currently being used for parking.