Saskatoon's historic Farnam Block will be torn down

The real estate agent that speaks for the new owners of the historic Farnam Block on Broadway Avenue confirms that the iconic brick building will be torn down.

"We held off the process a little bit until we see if we could salvage the property. But unfortunately, the economics of the process would not work," Gaby Akl said. 

Many will remember the old brick building as the home of Lydia's Pub. The building, however, has fallen on hard times and is in rough shape.

The new owners had already applied for a demolition permit but promised to explore all the options as various interest groups spoke up for the building.

This week, the local archaeological society told CBC Radio’s Saskatoon Morning, there may be hidden vaults or tunnels on the site that are worth saving.

But Gaby Akl confirms the demolition permit has now been approved by city hall, and the new owners believe the building is too far gone to consider any options other than demolition. 

"Unfortunately, there is no more life in it," he said. "So it's gone."

Akl could not say exactly when the building will come down.