The mechanism that actually matters for a homeowner is the same everywhere: a rezoning changes what can legally be built on a lot, and that changes land value even before anything gets built, against a citywide benchmark price of $444,700, the way a rezoning in a Saskatoon neighbourhood like Silverspring already has.
A property near a site going through Saskatoon's own rezoning process can see its value move in either direction. More density nearby can raise land value for a lot that could support a secondary suite or a small multi-unit building, but it can also add traffic and parking pressure that some buyers discount.
What matters for your specific address is not the name of the process, it is what the City of Saskatoon actually approves next door. Get your hand-reviewed valuation from Joel Dyck.