Regina, SK— At the April 7th City Council Meeting, Mayor Bachynski and Members of Regina City Council approved the request to develop a second Costco in West Regina. The presence of Costco will attract residents to communities like Westerra, stimulate additional commercial development, increase consumer traffic, and foster a stronger local economy.
In Westerra, Avana is making a significant financial investment toward the development of more than 700 rental homes, which will provide housing for more than 2,000 individuals who will live, work and spend in Regina. Our current and future developments in Westerra are projected to create over 1,075 job opportunities. Additionally, our investment in Westerra is estimated to generate an overall growth in annual property taxes, significantly strengthening the city’s tax base. Our investment decisions have also considered Costco’s staffing requirement of 300 jobs in Westerra and the need for housing to be readily available.
“At Avana, we believe in developing rental housing that helps build community” said Brent Sjoberg, President of Avana, “This confirmation of investment support made by City of Regina will allow us to continue building on our early investments in Regina’s west end and help shape Westerra into one of Regina’s most desirable neighbourhoods.”
The presence of Costco will attract residents to communities like Westerra, stimulating additional commercial development, increasing consumer traffic, and fostering a stronger economy in the area and beyond. The City’s support of this project is not just a financial investment that will be recovered over time, it also demonstrates a commitment to growing housing and jobs in our community, which is critical for Regina’s long-term success.
With the City of Regina’s investment, Avana is committing to taking a leading role in bringing residents to the West end of Regina. It is critical that the city continues to support developments like these to see ongoing investment, increase in jobs, and housing growth.
Avana is a Regina-based real estate company focused on building, owning and managing vibrant, community-centered rental homes. Since our founding in 2014, we have become a leading multi-family housing provider in Regina, recognized for both our high-growth achievements and our commitment to social responsibility. Today, we are proud to be part of the city’s continued growth story by building and managing over 1,700 suites, with more on the way.
