Shaynee Modien, Local Journalism Initiative Reporter, The Shaunavon Standard
The Town of Gull Lake, Saskatchewan is inviting the public to become shareholders in a soon-to-be-renovated historic building in the downtown core.
According to the Town’s website, this project has “great potential to provide more professional, retail, or short-term rental space.”
Lindsay Alliban, Community and Economic Development Officer for Gull Lake, elaborates on the project, saying, “The old brick building has a lot of potential, and we want to revitalize it. It’s more cost-effective to renovate than tear it down. We’ve conducted a feasibility study and are working to secure local investment, with the goal of renting out the space and attracting new businesses to make it another nice building in our downtown.”
Some may argue that investing in a building requires a more polished appearance or that it would be better to tear it down. However, Alliban counters, “The building may look a little rough, but it has good bones. We’ve had experts assess it, and it’s a worthy investment. The building holds heritage value for our community, and we’ve designed the project to protect that. In fact, we’re modeling this renovation after the successful transformation of what is now our new bookstore.”
The Town recently handed over ownership of the building to the Gull Lake Property Development Co-op, which will oversee the investment. Shares in the building are currently available for purchase at $1,000 each, with 35 of the 200 shares already sold.
As the community and economic development officer looks to the future, she expects that once word of the project spreads, more entrepreneurs will be eager to invest in the building and the future of Gull Lake.
Alliban notes, “This is an investment opportunity that tells a compelling story, one that people can relate to and want to be a part of, leaving a legacy and joining our adventure to revitalize this historic building.”
For further information, interested parties can contact the Town of Gull Lake office or email the development board at gulllakeedc@gmail.com.
