Saskatoon central library to reach final price tag of $150 million

WATCH: The final budget for Saskatoon's new downtown library is $16 million more than first forecast.

Saskatoon’s landmark new central library has reached a milestone in its development, with construction tenders complete and a final price tag set, according to library officials.

In a news release Friday, the Saskatoon Public Library (SPL) confirmed construction was on track for a 2027 completion date at a total cost of $150 million — $16 million over its initial estimate.

The library board had to cancel an earlier tender for construction in September 2023 and look for a construction manager as the initial bids came in over budget, forcing the organization to aim for a scaled-back plan.

Despite remaining over the initial $134 million budget target, the library says the extra funds will be drawn from its existing reserves, and no additional increases to the library levy will be needed to finish the job.

The property tax increases outlined in the initial 2009 funding plan remain in place. According to SPL, the average homeowner will see their library levy go up about $1.60 per year in 2026 to fund the project, with no increases in 2027.

SPL CEO Carol Shepstone thanked the project team for helping keep the increased cost of the build off the shoulders of taxpayers.

“So much has changed in the world since this project was originally approved in 2019, and their efforts have been pivotal in ensuring Saskatoon taxpayers will not shoulder any additional costs,” said Shepstone.

SPL says the final budget includes all expenditures, from land purchase and remediation, to construction, engineering and project management.

It also includes an allowance of almost $3 million for potential tariff impacts and $8 million for other contingencies, the library says.