SALE MAKES WAY FOR NEW DEVELOPMENT

Saskatchewan Property Management has sold the former Anglican Diocese of Qu'Appelle site in Regina to Regina-based College Developers Inc.

"This is an exciting announcement," Minister responsible for Saskatchewan Property Management Deb Higgins said. "Saskatchewan taxpayers get a return on property that the province no longer needs, while Regina will benefit from having a new development close to downtown."

College Developers Inc. is a group of local investors led by Fiorante Homes and Commercial Ltd. The company has been constructing custom built homes, condominiums, apartments and commercial properties in Regina for over 30 years.

The developers are planning a high-quality residential development on the 20-acre site that will respect the former Anglican Diocese of Qu'Appelle buildings' provincial heritage designation. The project will be phased in over several years, and may include some high-quality commercial development.

"We understand the significance of Provincial Heritage Property designation, and we believe this adds tremendous value and appeal to the location," College Developers Inc. President Vince Fiorante said. "We will be working with the Department of Culture, Youth and Recreation to ensure the development respects the heritage designation of the property and meets the requirements of The Heritage Property Act."

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For More Information, Contact:

Nadine Sisk Saskatchewan Property Management Regina Phone: (306) 787-9225

Vince Fiorante College Developers Inc. Regina Phone: (306) 569-3456