The Prosperity Series — Part Two: How Restoring the Old Pharmacy Builds Economic Development

Economic development doesn’t begin with large projects or outside investors. It begins with the spaces we create, the confidence we build, and the signals we send about who we are and where we’re going. In Gull Lake, one of the clearest signals is the restoration of the Old Pharmacy—a 1913 commercial cornerstone now being revived through the Gull Lake Property Development Cooperative.

This project is more than a heritage restoration. It is a practical, measurable, community‑driven example of economic development in action.

A Building That Creates Economic Capacity

For decades, Gull Lake has faced the same challenge as many rural towns: limited commercial space. Without usable storefronts, it becomes harder to attract new businesses, support entrepreneurs, or expand services.

Restoring the Old Pharmacy directly addresses that challenge by creating:

• New leasable commercial space on Main Street

• A strengthened business ecosystem through added commercial square footage

• Increased market confidence in downtown revitalization

• A landing space for future business attraction

Economic development begins with capacity. This project delivers it.

Local Investment = Local Prosperity

The Cooperative model is one of the strongest economic development tools available to small towns. It keeps ownership local, spreads risk, and allows residents to directly shape the future of their community.

At the time of the last update, the Cooperative had received a $20,000 Saskatchewan Heritage Foundation grant to support façade restoration. Combined with strong local support—including 35 shares purchased by residents—the project reached a total investment of $55,000. The Cooperative has also received support from the Town of Gull Lake, reflecting the community’s broader interest in seeing the Old Pharmacy restored.

This blend of local contributions, municipal support, and provincial funding demonstrates the community’s commitment to restoring a historic building and creating new commercial rental space on Main Street.

The Old Pharmacy project demonstrates:

• Local capital formation

• Community‑owned development

• Shared prosperity

• Confidence signalling

This is prosperity built from the inside out.

Investment Pathways and Project Momentum

Economic development succeeds when multiple forms of investment align. In Gull Lake’s case, investment activity includes local contributions and early outside interest, while municipal cooperative investment and fully developed outside investment have not materialized at this time.

Municipal Cooperative Investment

A municipal cooperative—where multiple municipalities invest together—was explored a few years ago at the SWT Lyceum Theatre as one of several regional economic‑development initiatives. It was presented as a general model for strengthening rural economic capacity. After that presentation, the municipal cooperative concept did not move forward. This is simply where the regional landscape stands today—municipalities continue to cooperate on many shared services, even though the municipal cooperative investment model did not move forward.

Outside Interest

There has been early outside interest in the project—a sign that the Old Pharmacy has appeal beyond local investment. The real benefit of attracting outside investment is the added confidence, capacity, and momentum it brings to rural economic development. At this stage, outside interest can be described as emerging, with potential to grow as the project progresses.

Regional Benefits: A Stronger Region, Not Just a Stronger Town

The success of the Old Pharmacy project doesn’t stop at Gull Lake’s borders. A stronger service town supports a stronger region—including the surrounding RMs—in practical, everyday ways.

• A better regional service hub

• More local options for rural residents

• Stronger rural property stability

• Business attraction supporting agriculture, energy, transportation, and trades

• Shared momentum across the wider area

Phase 1: Opening the Door to Growth

Phase 1 focuses on restoring the building to functional, leasable condition—the point where economic activity can begin.

Key components include restoring power, plumbing, and heating; removing unwanted material; installing new doors and windows; and completing façade restoration.

These upgrades aren’t cosmetic. They are the minimum requirements for business attraction, commercial leasing, and long‑term economic use. Once Phase 1 is complete, Gull Lake gains something it hasn’t had in years: a ready‑to‑use commercial space in the centre of downtown.

The Bottom Line

Restoring the Old Pharmacy is not about nostalgia. It is about prosperity—creating space, opportunity, and momentum. It is about building a stronger Main Street and showing, through action, that Gull Lake is investing in its future.

This is what economic development looks like in a rural community: local people, local ownership, local vision, building something that benefits everyone.

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