A newly released business case estimates it could cost $154 million to build a new and relocated downtown Saskatoon Public Library branch.

"The new central library is estimated to be 149,000 square feet and includes a larger collection, indoor and outdoor green spaces, a mix of quiet and animated spaces, expanded Local History space, technology-centred learning and innovation spaces, and public meeting and gathering spaces," according to the business case released Wednesday, which was originally slated for release this past spring.

It's hoped the new branch will open in 2026 and lead to $132 million in economic activity during construction.

The project has the support of the University of Saskatchewan library, the Greater Saskatoon Catholic Schools division, the YMCA, the Saskatoon Public Schools division, the Saskatoon Open Door Society, and the downtown business development district, according to letters attached to the business case.

The library service is working with the City of Saskatoon to choose a new site. The successful site won't be disclosed until the land purchase is final.

The city, meanwhile, is planning a new downtown arena and entertainment district.

One city councillor, Darren Hill, has suggested the two projects should be built at the same site.

Library CEO Carol Cooley has told city council in the past that renovating the existing downtown branch — the Frances Morrison Central Library — would also be considered.

But the business case says that building, which dates back to the 1960s, has been deficient on significant building codes for 20 years.