The Centennial Market says it will stay open in its current location for at least one to three years, even after a council decision to allow U-Haul to set up a storage facility in the building.
Tall Grass Apparel, one of the market’s vendors, said in a Facebook post that it’s received tons of questions on the future of the market – and hoped to address some of the frequently-asked questions.
The main message: the market isn’t closing or moving for some time.
Possible future locations are being looked at, but the post asks people to “spread the word” and “be positive”.
At Monday’s meeting, a delegation representing the building’s owners, Colliers International, told council keeping the market in the space was not financially viable, adding even if the market quadrupled its revenue it still would not cover the space’s operating costs.
U-Haul’s plan to redevelop the former Sears outlet was given council approval, alongside support from a number of business groups including the Regina and District Chamber of Commerce.
But those same groups and council also said they’d be willing to support the market in finding a new location away from the century-old building when that time comes.
Mayor Michael Fougere said the support for the helping the market continue on even after U-Haul moves in was factored into the council vote.
“I think this is a great opportunity for economic development, I think it’s a great reuse of the building that’s there, and what I like in particular is the commitment by many of the partners to find locations for the tenants that are there today,” Fougere said. “This is a building that could be at risk, right now the business model is just not sustainable, the rent being paid by the tenants is not sustaining the building.”
“This is a way to overcome that problem but also to find a new location for those tenants I think it really speaks to the community involvement in this project.”
For at least the next year, the Centennial Market will keep operating at its current location every Tuesday, Saturday and Sunday.
